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2012047�� One Hundred Twenty and Seventy Four Hundredths (1120.74) Feet to the Point of Beginning; thence continuing N 0° 23' 00" E along the West Line of the Northwest Quarter of said Section 11 a distance of Sig Hundred Forty Sig and Eighty Two Hundredths (646.82) Feet; thence S 89° 37' 00" E a distance of Eight Hundred Seventy Five and Seventy Five Hundredths (875.75� feet; thence S 0° 23' 00" W a distance of Sig Hundred Forty Sig and Eighty Ttvo Hundredths (646.82) Feet thence N 89° 37' 00" W a distance of EYght Hundred Seventy Five and Seventy Five Hundredths (875.75� Feet to the Point of Beginning EXCEPTING THEREFROM a certain tract of ground more particularly described in the Warranty Deed recorded as Document No. 78-007607 in the Office of the Register of Deeda, Hall County, Nebraska Parcel ID Number: 400217147 & 400217120 which currently has the address of: 5181 S Engleman Rd Grand Island, NEBRASKA 68801 ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and dema.nds, subject to any encumbrances of record. THIS SECURITY INSTRiJMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. LJNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charg�, and Late Charges. Bonower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late chazges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument sha11 be made in U.S. currency. However, if any check or other instnunent received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or pa.rtial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to forecloswe. No offset or claim which Borrower might have now or in the future against Lender sha11 relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. AppHcation of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender sha11 be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments sha11 be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. NEBRASKA -Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 Page 3 of 12 /� ios, i�o. Borrower(s) In(tialsC� -SC