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- iJNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: 98-•. 1�1'4'D01
<br /> 1. Payment of Principal and Interest.Borrower shail promptly pay when due the principal and interest indebtedness evidenced by
<br /> the Note and late charges as provided in the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender,Borrower shall pay to Lender on the
<br /> day monthly payments of principal and interest are payable under the Note,until the Note is paid in full,a sum(herein"Funds")equal to one-
<br /> tiwelfth of the yearly taxes and assessments (including condominium and planned unit development assessments, if any), which may attain
<br /> priority over this Deed of Trust,and ground rents on the Property,if any,plus one-twelfth of yearly premium instaliments for hazard insurance,
<br /> plus one-twelfth of yearly premium installments for mortgage inswance, if any, all as reasonably estimated initially and from time to time by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereo£Borrower shall not be obligated to make such payments of Funds
<br /> to Lender to the extent that Borrower makes such a ents to the holder of a rior mort a e or deed of trust if such
<br /> P Y m P g g h o l d e r i s a n i n s t i t u t i o n a l
<br /> lender.
<br /> If Borrower pays Funds to Lender,the Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed
<br /> by a Federal or state agency(including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taues, assessments,
<br /> insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and
<br /> compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a
<br /> charge. Bonower and Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to
<br /> Borrower,and unless such agreement is made or applicable law requires such interest to be paid,Lender shall not be required to pay Borrower
<br /> any interest or earnings on the Funds. Lender shall give to Bonower,without charge, an annual accounting of the Funds showing credits and
<br /> debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums
<br /> secured by this Deed of Trust.
<br /> If the amount of the Funds held by Lender,together with the future monthly installments of Funds payable prior to the due dates of
<br /> taxes,assessments,insurance premiums and ground rents,shall exceed the amount required to pay said taxes,assessments, insurance premiums
<br /> and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on
<br /> monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes,assessments,insurance premiums
<br /> and ground rents as they fall due,Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as
<br /> Lender may require.
<br /> Upon payment in full of all sums secured by this Deed of Trust,Lender shall promptly refund to Borrower any Funds held by Lender.
<br /> If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender,Lender shall apply,no later than immediately
<br /> prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums
<br /> secured by this Deed of Trust.
<br /> 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and
<br /> paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof,then
<br /> to interest payable on the Note,and then to the principal of the Note.
<br /> 4. Prior Mortgages and Deeds of Trust;Charges;Liens.Borrower shall perform all of Bonower's obligations under any mortgage,
<br /> deed of trust or other security agreement with a lien which has priority over this Deed of Trust, including Borrower's covenants to malce
<br /> payments when due. Borrower shall pay or cause to be paid all t�es,assessments and other charges, fines and impositions attributable to the
<br /> Property which may attain a priority over this Deed of Trust,and leasehold payments or ground rents,if any.
<br /> 5. Hazard Insurance.Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss
<br /> by fire,hazards included within the term"extended coverage",and such other hazards as Lender may require and in such amounts and for such
<br /> periods as Lender may require.
<br /> The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;provided,that such approval
<br /> shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form acceptable to Lender and shall include a
<br /> standard mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br /> subject to the terms of any mortgage,deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br /> In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender.Lender may malce proof of loss if not made
<br /> promptly by Borrower.
<br /> If the Property is abandoned by Borrower,or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by
<br /> Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the
<br /> insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Deed of Trust.
<br /> 6. Preservation and Maintenance of Property;LeasehoIds;Condominiums; Planned Unit Developments.Bonower shall keep
<br /> the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the
<br /> provisions of any lease if this Deed of Trust is on a leasehold.If this Deed of Trust is on a unit in a condominium or a planned unit development,
<br /> Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit
<br /> development,the by-laws and regulations of the condominium or planned unit development,and constituent documents.
<br /> 7. Protection of Lender's Security.If Borrower fails to perform the covenants and agreements contained in this Deed of Trust,or if
<br /> any action or proceeding is commenced which materially affects Lender's interest in the Property,then Lender,at Lender's option,upon notice to
<br /> Borrower,may make such appearances,disburse such sums,including reasonable attorneys'fees,and take such action as is necessary to protect
<br /> Lender's interest.If Lender required mortgage insurance as a condition of making the loan secured by this Deed of Trust,Borrower shall pay the I
<br /> premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br /> Borrower's and Lender's written agreement or applicable law.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become additional
<br /> indebtedness of Bonower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be
<br /> payable upon notice from Lender to Borrower requesting payment thereof.Nothing contained in this paragraph 7 shall require Lender to incur
<br /> any expense or take any action hereunder.
<br /> 8. Inspection.Lender may make or cause to be made reasonable entries upon and inspections of the Property,provided that Lender
<br /> shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property.
<br /> 9. Condemnation.The proceeds of any award or claim for damages,direct or consequential,in connection with any condemnation or
<br /> other taking of the Property,or part thereof,or for conveyance in lieu of condemnation,are hereby assigned and shall be paid to Lender,subject
<br /> to the terms of any mortgage,deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of
<br /> amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release,in
<br /> any manner,the liability of the original Borrower and Borrower's successors in
<br /> NEBRASKA-SECOND MORTGAGE-1/80 FNMA/FHLMC UNIFORM INSTRUMEN Page 2 of 4 Form 3828
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