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201108530
<br />Borrower in t�is Security Instrument, but, if necessary to comply with Iaw ar custom, MERS (as nominee for
<br />Lender and Lender's successors and assi�ns} has the ri�ht: to exercise any or all o£those interests, including, but
<br />not limited to, the right to forectose and selt the Property; and to talce any action required of Lendec including, but
<br />not limited ta, releasmg and canceting this Security Instrumen�
<br />BORROWER COVENAN'I'S that Borrower is lawfully seised of the estate hereby conveyed and has the
<br />right to grant and convey the .Property and that the Property is unencumbered, except far encumbrances af record.
<br />Borrower warrants and wilI defend generatly the title to the Property a all cIaims and demartds, svbject to
<br />any encumbrances of record.
<br />THIS S�CURTTY INSTRUMENT combines uniform covenants for national use and non-unifarm
<br />covenants with limited variations by je�risdiction to constitute a uniform security instrument covering reai
<br />PrQP�m'•
<br />iJNTFORM COVENANTS. Borrower and T_.ender cavenant and agree as foltows:
<br />1. Pay�nent of Principal, Interest, Fscrow Items, Prepayment Charges, and I.ate Charges.
<br />Borrower shall pay when due the principa] of, and interest on, the debt evidenced by the Nate and any
<br />prepayment charges and late charges due under the Note. Borrower shall alsa pay funds far Escrow Items
<br />pursuantto Section 3. Payments due under the Note and this Security Instrucr�ent shall be rnade in U.S. czmency.
<br />However, if any check or ather instrument received by Lender as payment under the Note ar this Security
<br />Instrument is returned to Lender unpaid, Lender may require that any or al! subsequent payments due under the
<br />Note and this Security Instrument be made in ane or more of the following forn�s, as selected by L,ender: (a) cash;
<br />(b} money order; {c) cert�ed eheck, bank check, treasurer's check or cashier's check, provided any such
<br />cheok is drawn upon an instituiion whose deposits are insured by afederaI agency, instrumentality, or erttity; or
<br />(d} Electronic Funds Transfer.
<br />Payments are deemed received by Lender when receive�i at the location designated in the Note or at such
<br />other location as ma.y be desi�mated by �.ender in accordance with tha notice provisions in Section I 5. J,ender
<br />may rettxrn any payment or partixi payment if the payment or partial payrnents are ins�ufficient ta bring the Loan
<br />current Lender may accept at�y payment or partial payment insufficientto brin; the Loan aurrent, without waiver
<br />of any ri�hts hereunder or prejudice to its rigt►#s to refuse such paymen�t ar partial payraents in the futare, but
<br />Lender is not obligated to appty such payments at the time such payments are aceepted. Ifeach Perioda`c Payment
<br />is applied as of its scheduled due date, thett Lender need not pay interest an unappliad :funds. Lender may hoid
<br />such unapplied funds until Borrower tnakes payment to bring the Loan current� If Bonrower does not do so within
<br />a reasonable period of time, i.ender shall either apply such funds or retum them ta Borrower. If not apptied
<br />earlier, suctt funds will be appl9ed to the outstanding principal balance under the Note immediately pnor to
<br />foreclosure. No offset or claim whiah Borrower mi�ht have now or in the futvre against Lender shall relieve
<br />Borrawer from making payments due under the Note and this Security Icistrurnerrt or perfarmin� the covenants
<br />and a,greements secured by this Security Tnstrument.
<br />2. Applieation of Payments or Proceeds. Except as ot�erwise desaribed in this 5ection 2, all
<br />payments ac�epted and appiied by Lendar shall be appl ied in the foilowins� order of priority: (a) iaterest due under
<br />the Note; {b) principal due under the Note; (c) amaunts c[ue under Sectian 3. Such payments shall be applied to
<br />each Periodic Payment in the order in which it became due, Any remaining amounts shall be applied first to late
<br />chargcs, second to any other amounts due underthis Security Instrumertt, artd then to reduce the principal balance
<br />of the Note.
<br />If Lettder receives a paymeat from Borrower for a delinquerrt Periodic Payment which includes a
<br />sufficient amaunt to pay any late charge due, the payment may be applied to the delinquent payment and the late
<br />charae. Tf more than one Periadic Payment is outstanding, Lender may apply any payment received from
<br />Borrower to the repayrnent of the Periodic Payments if, and to the extent that, each payment can be paid in full.
<br />To the extent that any excess exists after the payment is applied to the ful( payment af one or more Periodic
<br />Payments, such excess may'be applied to any late char�es due. Voluntary prepayments shatt be applied f�rst to
<br />any prepayment charges and then as described in the Note.
<br />Any application of payments, insvrance proceeds, or Miscellaneous Pmceeds to principal due under the
<br />Note shalI not extend or postpone the due date, or change the amount, of the Pariodic Payments.
<br />3. �'unds for Eserow Ttems. Borcower shatl pay to Lender on the day Periodic Payments are due
<br />under the Note, unril the Note is paid in fult, a sum (the "Funds'� to provide for payment of amounts due for. (a)
<br />taxes and assessments and other items which can attain priority over this Security Inst►vment as a tien or
<br />encumbrance un the Properiy; (b) leasehold payments ar ground rents on the Property, if any; (c} premiums for
<br />any and all insurance requiz by �.ender under Section 5; and (d) Mortgage Insurance prem�ums, rf any, or any
<br />sums payab]$ by Borrower to Lender in 1 ieu of the payment of Mortga�e Insarax►ce premrums in accordance with
<br />tha provisions of Section 10. These items are called `Bscrow Ftems:' At origination or at any time during the
<br />term of the Loan, I,ender may require that Community Association Dues, Fees, and Assessments, if any, be
<br />escrawed by Borrower, and such dues, fees and assessments shalt be an Escrovv Itam, Borrawer shall promptly
<br />fumish to Lender all notices of amounts to be paid under this Section. Bonower shatl pay Lender the Punds for
<br />Escrow �tems unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender
<br />nnay waive Borrower's obtigation to pay to Lender Funds for any or all Escrow Items at any time. Any such
<br />waiver may only be in writing. Tn the event of such waiver, Borrower shatl pay direct,ty, when and where
<br />payahle, the amounts due for any Escrow Items for which payment ofFunds has been waived by Lender and, if
<br />Lender rec{uires, shall furnish to L,ender receipts evidencing such payment within such time period as Lender may
<br />require. Borrawer's obligation to mafce such payments and to provide receipts shall far all purposes be deemed to
<br />be a covenant and aQ eement cantained in this Security insiruznent, as the phrase "covenant and agreement" is
<br />used in Section 9. If Borrower is abti�ated to pay �scrow Items directly, pursuant to a waiver, and Borrawer faiis
<br />to pay the amount due far an Escrow ftem, Lender may exercise its rights under Section 9 and pay such amount
<br />and Barrower shall then 6e obtigated under Sectian 9 to repay to Lender any such amoun� Lender may revake
<br />the waiver as to any or all Fscrow Items at any time by a notice given iin accardance witii Sectian 1 S and, upon
<br />such revocation, Borrower shait pay to Lender all Funds, and in such amaunts, that are then reqvired underthis
<br />Section 3.
<br />Lender rnay, at any t'rme, coliect and ho Id Funds in an amount (a) sufficient ta permit Lender to apply the
<br />Punds at the time specif ed under RESPA, and {b) not to exceed the maximum amount a lender can require under
<br />RESPA. Lender shall estirnate the amount of Funds due on the basis of current data and reasonable estimates of
<br />expend�tures af future Escrow Iterns or otherwise in accordance with Applicable Taw.
<br />PIEBRASKA—Single Famly--Fannie Mae/Freddie Mac U�IIFORM INSTRUMEIV'C (]t�RS) Form 30281/01 (page 3 of9 pages)
<br />I2439.CV (9/11} 43001025QG Creative Thinking, IqG
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