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<br />`->,;.:a;:� BORROWER COVENANT'S that Borrower Is lawtt�Uy seised of the estate hcreby rney as dght to
<br /> �� �•�Yy grant and convey the Property aad thst thc Propcdy is unencumbered,exccpt for enc�umbraaces of record. Rorrawer
<br /> ,, ••� � watrants and wlll defend generally thc titla to tde Property aguinst all cluims and demnnds,subjcct to any encumbrances =
<br />___ of rccord. _
<br /> �';,:��., � THIS SECLIRITY INSTRUMENT combines uaiform covenants far naUonal nse and non-unlform covcnants w(th
<br />�•,�;4•: • limited varlatlons by JurL�diction ta constitute a unifarm security instrument covering rcal property.
<br />,r��
<br /> UNIFORM COVENANT'S. Borrowcr and Lender cavcaant end agrec as follows:
<br /> . 1. I'ayaaettt oi Pninctp�l�Interat aod Lta Cbar�►. Borrower sbaU pay v�hen due the principal uf.aad Interest �
<br /> �- on,the debt evidcnced by the Nate aad late charges duo under the Noto.
<br /> ';.,�- 2, Monthly Paymeat ot 1�uoa,Insunnao,and Otber Char�ea. Bonower shall include in each monthly payment,
<br /> � �.;.� togeWer with the princtpal and iaterest as set forth in the Note and any late charges,e sum for(a)taxes and special
<br />` "�' assessments levied or to be levied against the Property,(b)leaFehold payments or grouad rents on the Properry,and
<br />_- ,,..,
<br /> -- (c) prenUums for insurance required under paragrapb 4. In eny year in whicu the Lender must pay a mortgage
<br /> =''"_�� insurance premium to We Seaetary of Housiag and Urban Development('Secretary'),or ia any year In which such
<br /> __°�°- premium would have been required iP Lender sWl held the SecurIty Inscruraent,each montWy paym�nt shall also
<br /> -�� include either:(i)a sum for the annual mortgage tasurance premium to be paid by Leader to the Secretary,or(ii)a
<br /> montdly charge instead of a mortgage iacuraace premium iP thts Security Instruraent is held by the Secretary, in a
<br /> reasonable amouat to be detornined by the Secretary. Except for the monthly charge by the Secretary,these items
<br /> are caUal"Escrow Items"attd the sums paid to Lender are called'Fscrow Fl�ads."
<br /> �- Lender may,at any time,callect and hold amounts for Fscrow Itexas in an aggregate amount not to exceed the
<br />--- maadiaum amount that may be required for Bonower's escrow acoount under the Rea1 Estate Setdement Procedures
<br />�-- Act oP 1974.12 U.S.G§2601 et.��e, .and ia►plementing regulatioas�24 CFR Part 3500,as they may be amended from
<br />����� time to time("RESPA"),except that the cvshion or reserve perwItted by RESPA for unandcIpated disbursements or
<br /> disbursements before the Bonower's payments aro available in the account may not be based on amounts due for ttte
<br /> �= _ mortgage insurance premium.
<br /> If tbe amaunts held by Lender for Pscrow Items exaed the amounts pennitted to 6e held by RESPA,Lender shall
<br /> acoount to Bonower for the excess funds as required by RESPA If the amounts of fimds held by Lender at aay ttme
<br /> �*�� are not sugiclent to pay the Fscrow Items when due.I�ender may notitjr the Boaower aad require Borrower to make
<br /> - up the sbortage as permitted by RESPA
<br /> ° Tha Fscrow Funds are pledged as additional security for sU sums secured by this Savrity Instrumen� If Borrower
<br /> tenders to Lender the full pay�aent of all such sums.Banower's account shall be credited with the balanoe remaining
<br /> for all installment iteau(aj�(b)�and(c)and aay mortgoge insurance premiwn inatallment that Leader has not oeonme
<br /> obligaud to pay to�he Secretary,aad Lendor shall promptly refund any excess funds to Bonower. ImmeOtately prlar
<br /> — to a foreclosure sale of the Property or its acqutsidoa by Lender,Borrower's account shall be ctedited wIth aay balance
<br /> remaining for all installments for items(a),(b),and(c).
<br /> 3. Appllcxtbn oi Aryioeats. All payaueats uader paiagraphs 1 and 2 shall be applied by Lender as follows:
<br /> EIRST.to the mortgage insurance preinium to be paid by Lender to the Secretary or to the monthly charge by the
<br /> Secretary instead of the monthly mongags inaurance preinium;
<br /> SLCOND.to any cexes,special assessments,leasehold payments or ground rents,and 8re,flood and other ha�ard
<br /> insurance pnmtums�as n9uited:
<br /> THIRD.to interest due under the Note;
<br /> k'OURTH,to amorti�ation of the principal of We Nnte;and
<br /> �,to late chacges due under the Note.
<br /> 4. F�ir�e,P1ood�ad Otber Haard I�aauae. Horrower shail Insure all impmvements on the Property,whether
<br /> now in adstenco or subsequeatly erected,against aay bazards,casualties,nnd oontingeacia,including Hre�for which
<br /> Lender requires insurance. This insurance shall be malntained in the amounts and for tha perlads that Lender
<br /> requires. Borrower shall aLso insure all improvements on the Property,whether now in existenco or eubsoquently
<br /> erected,agaiast loss by floods co the exteat required by the Secretary. All insurance s6all be c�rried with wmpanies
<br /> � approved by I.ender. The insuranca policies and any renewals shall be held by Lend�r and shall include loss payable
<br /> clauses in favor oP,and in a form acceptable to,Lender.
<br /> In the event oP loss,Bonower shall give Lende.r immediate notice by mail. Leader may make proof of Ioss if not
<br /> made promptly by Borrower. Each insurance company concerned is hereby suthorized and directed to make payment
<br /> - _- for such loss dlrectly to Lender,ipstead of to Bonower and to Lender jointly. .411 or any part of the insuranca
<br /> praceeds may be applled by Lender,at its opflon,either(a)to the reduction of the indebteduess under the Note and
<br /> --- - = this Security Insuument,Srst to any deHnquent amowtts applied in the order in paragaph 3.and then to prepayment
<br /> �__ -_-- of princ[pal,or(I�)to the restoration or repair of the damaged Propeny. Any appUcation of the prooecds to the
<br /> ---�� prIncipal shail not extend or postpone the due date of the monthly payments which are refened to in pacagaph 2,ar
<br /> ----° change the amount of such payments. Any excess insurauoe proceeds over an amount required to pay all outstanding
<br />�c�.i»,, indebtedness under the Note and this Securlty L�struraent shall be paid to the entity legally entitletl thereto.
<br /> '9'R"' In the cvent of foreclosure of this Secnriry Instrument or other uansfer of dtle to the Property that extinguishes
<br />-'"��'�•'�° the indebtedness. all right, title and iaterest of Borrower in and to insurance pollcIes in force shall pass to the
<br /> ` , �. . ` purchaser.
<br /> ,;�! ., s. Oocupaacy. Praavition, M�intemnoe Ynd Pmtecxloa of the Property; Boim�ec's Lo�n Appllcatlon;
<br /> ' Leasehojda. Bonower shall occupy,establish,and use the Propeny as Bonower's principal residence within sixty days
<br /> +''�"�W ' after We execution of this Security Insuument(dr witLin sixty days of a later sale or t�ansfer of the Property)and shall
<br />�•���`° '.�i. cotttinue to occupy the Property as BonowePs princlpal residence for at lea�t one year after 3tte date oi occupaacy,
<br /> �r. .:
<br /> • � �� ;• unless Lender determines that requirement wW cause undue hardship for Borcower, or unless entenuating
<br /> �� circumstances exist which are beyond Borrower's conuol. Borrower shall notify Leader of any extenuating
<br /> � . .�t
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<br /> HSBRASKA-PHA DBBA OF ZItU31' 4%
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