201109037 - Laserfiche WebLink

Browse

201109037 2. Applicationof Payments or Proceeds.Txcept as otherwise descnbed in this Section 2, all paymeats accepted and applied by Lender shall be appiied in the following order of priority: (a) interest due tmder the Note; (b) priincipal due under the Note; (c) amounts due under 3ection 3. Such payments s(zall be applied to each Periodic Payment in the order in which it became due. Any zemainin.g amounts shall be applied first to late charges, second to any other amoun.ts due under this Security Instrumeat, an.d then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Paymefft tvhich includes a sufficient amonnt to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. Tf more than one Periodic Payment is outstaading, Lender may apply any payment received from Bosoiver to the repayment of the Periodic Payments i� and to the extent that, each payment can be paid in fu1L To the extent that any excess exists after the pa.yment is applied to the full payment of one or more Periodic Paymeats, such excess may be applied to any late charges due. VoIuntaty prepayments s1�all be applied first to any prepayment charges and f.hen as described in the Note. Any application of payments, insnrance proceeds, or Miscellaneous Proceeds to principal due under the Note sha11 not extend or postpone the dne date, or change the amoun� of the Peri.odic Payments. 3. Fundsfor Escrow Items. Boaower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in. fuU, a sum (the "Funds'� to provide for gayment of amounts due for. (a) taxes and assessraents and other items which cau attain priority over this Security Instrument as a lien or encumbrance on the Properry; (b) leasehold payments or ground rents on the Property, if any, (c) premiums for any and all �r��nce required by Lender under Section 5; and (d) Mortgage Insurance pzemiums, if any, or any sums payable by Boaower to Lender in Iieu of the payment of Mortgage Ias�zauce premiums in accorda.nce with the provisions of Section 10. These items are called "Escrow Items." At origination or at aay time d nn� the term of the T n� Lender may require that Comm.unity Association Dues, Fees, and Assessments, if any, be escrowed by Boaower, and such dues, fees and assessments shall be an Escrow Item. Boaower shall promptly furnish to Lender all notices of amouats to be paid under this Section. Boaower shall pay Lender the Funds for Escrow Items unless Lender waives Bonower's obliga.tion to pay the Funds for an}� or all Escrow Items. Lender ffiay waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at a.ny time. Any such waiver may only be in writing. In the event of suah waiver, Boaower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall fianish to Lender receipts evidencing such gayment within such time period as Lender may require. Borrower's obliga.tion to make such payments and to provide receipts skall for all purposes be deemed to be a covenant and agreement contained in this Secvrity Instrument, as the phrase "covenaat and agreement" is used in Section 9_ If Boaower is obligated to pay Escrow Items directly, pursuant to a waiver, and Boaower fails to pay the amount dne for an Escrow Item, Lender may exezcise its rights under Seciion 9 and pay such amount and $oaower sball ttien be obligated under Section 9 to repay to Lender any such amount. Lender ma.y revoke the waivez as to any or all Escrow Items at any time by a notice given in accordance with 5ection 15 and, upon such revocation, Borrower shall pay to Leader all Pnnds, and in such amounts, tha.t are then. required nnder this Secti.on 3. Lender may, at any time, collect aad hold Funds in an amount (a) sufficient W. permit Lender to apply the Fnnds at the time specified under RESPA, and (b) not to exceed the maximum amoun.t a lender can require under RESPA. I,ender sha1l estimate the amount of Funds due on the basis of cuuent data an.d reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applieable Law. NEBRASKASfngle Famtly�Fennle MaelFiedddla Mac UN(FORM tNSTRUMENT WITN MERS Fotm 30281la1 VMP � VMP8.4(IV� (11�Sj.QO Wo�Lais tCluwerFlna�cis! Servtces Pa88 6 of 17 II I I Il lllll I III II (I I� I�( Illl I III II I I IIII lll III q033Q3156313 0233 527 0517