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<br /> 98- 112�63
<br /> BORROWER COVBNANTS that Borrower is lawfully selatd of the estatc her�by convcyed and has the right to
<br /> grant and wnvey the Aroperty and that the Property is unencumtxred, except for encumbrances of rece�rd. Borrowor —
<br /> wanants and wlll defend generally ihe title to the Property agalnst�Il claims and demands, subject ta any encumbrances
<br /> nf record,
<br /> THIS SECURITY INSTRUMEfVT combine9 uniform covenants for national use and non-uniform covenants with
<br /> Umlted veriations by Jurisdiction to constitute u uniform security instrument Govering real property.
<br /> UNIPORM COVENANTS. Bouower and Lc:ndcr covcnant and agrcc as follaws: � -
<br /> 1. � of P�incip�l, Iaterat �W,c Ciurga Borrower shall pay when due �he principal of,and intere�t
<br /> on,the debt evldenced by the Note and late charses due under �he Note.
<br /> 2, Maothly pnymeat of Tup,Ir�ua�e. �od Otber ChuBa, Borrower shall include in each monthly payment,
<br /> together with the principal and interest as set forth in [he Note and any late charges, a sum for (a) taxes end specisl
<br /> asseasments levied or to be levied against the Propeny, (b) leasehold payments or �round rents on the Property, and
<br /> (c) premlums for insura��ce required under paragraph 4. !n any year in which the Lender must pay a mortgage
<br /> insurance premlum to the 5ecretary af Housing and Urban Development ("Secretary"),or in any year in which such
<br /> prsmium would havo been required if Leuder still held the Security Instn►ment, each monthly payment shall also
<br /> include elther: (i) a sam for the annual mortgagc insurance prcmium to be paid by l.ender to che Secretary, or(ii) a
<br /> monthly charge instead of a mortgage insurance premium if this Secur[ty Instrument is held by the Secretary, in a
<br /> reasonable umunt to be detennined by the Secretary. Rxcept for the monthly charge by the Secretary, these items
<br /> are callecl "E�;row Itetns" and the sums paid to Lender are callal "Bscrow Funds."
<br /> L.ender may, at any time, collect and hold amounts for Escrow Itetnti in a�i aggregate amount not to exceed the
<br /> cnaximum amount that may be required for Bonower's escrow account under the Real Estate Settlement Procaluns
<br /> Act of 1974, 12 U.S.C.$2601 et se�c.and implementing regulations, 24 CFR Part 3500,as they may be anxnded from
<br /> time to time ("RESPA"),except that the cushian or[eserve permitted by RESPA for unan[ictpated diabursemrnts or
<br /> disbursea►ents before the Borrower's payments are available in the account may not be based on tunounts due for the
<br /> mortgage insur�nce premium.
<br /> If tlu amounts held by Lender for Escrow Items excecd the artiounts permitted to be hcld by RESPA, l,ender shall
<br /> act;ount to �iorrower for the eacess funds as required by RESPA, If the �mounte of funds held by Lender at any time
<br /> are not sufflcient to pay the �'scrow Items when due, Lender m�y notify the Bosower and require Borrowec to malce
<br /> up the shortage as permitted by RESPA.
<br /> The Escrow Funds aze pledged as addltional security for all sums secured by this Security Instrument. If Bonawer
<br /> tendets to Lender the full payment ot all such sums,Barrowcr's eu:ua;►t 5Ya11 b:.ctwiie,.'' :_�«tl:e �"!"nc� r�maining
<br /> for all installment Iterns (a),(b),and (c)and any mortgage insurance premium installment that Lender has not bccomc
<br /> �bligated to pay to the Secretary, and L.ender shall promptly refund any excess funds to Borrower. Imnkdlately prior
<br /> to a foreclosure sale of the Property or its acquisition by Lender,Borrower's account shall be credited with any balance
<br /> mnaining for all installments for items (a), (b), and (c).
<br /> g, Applic,�tiaa of Paymeats. All payments under paragraphs I and 2 shall be appiied by I.ender as fallows:
<br /> PIRST, to the mortgage insurance premiu�n to be paid by Lmder to the Secretary or to the monthly charge by the
<br /> Secretary instead of the monthly mortgage insurance premium;
<br /> SECOND, to any taxes,speci�l assessments, leuehold paymnts or ground rents, and fire,flood and other ha:ud
<br /> insuruice prcmiums� as requiral;
<br /> TNIRD. to interest due under the Note;
<br /> FOURTH, to amortization of the principal of the Note; and
<br /> PIFTH, to late chazges due under the Note.
<br /> 4. Fi�e,�lood �d OWer H�d Inwra�oe• Bonower shall insure all improvements on the Property, whether
<br /> now in existrnce or subsequently erected, againsc eny hazards.casualties, und contingencies, including fire,for which
<br /> Lender requices insurance. This insurance shall be maintained In the amounts and for the periods that ;.,ender
<br /> requires. Bonower shall also insure all improvements on the Property, whether now in existrnce c: subseque�tly
<br /> erecced, against loss by floals to the extent requirecl by the Secretary. All insurance shall be carried with compaz►ies
<br /> approved by L.ender. The insurance policies pnd any renewals shall Yx held by Lender and shal! includ� loss payable
<br /> clauses in favor of,end in a form accx.ptable to, Lender.
<br /> In the event of loss,BoiYOwer shall give Lxnder immediate notice by mail. Lender may make p:oof of loss if nat
<br /> made promptly by Bonower. Each insurance company c:oncernM is hereby authorized and dlrected to make payment
<br /> for such loss directly to I.ender, tnstead of to Borrower and to Lender jointly. All or any part of the insurance
<br /> proceeds may be applied by Lender, at its option, either (a) to the reductlon of the indebtedness under the Note and
<br /> this Security lnstn►ment, first to any delinquei�t amounts ap�lial in the order in paragraph 3,as�d chrn to prepayment
<br /> — of principal, or (b) to the restoration or repair of the damaged Property. Any application of the proaeds to the
<br /> principal shall not extend or postpone the due dato of the monthly payments which are referred to in paragraph 2,or
<br /> change the amount of such payments. Any excess insurance proceeds over an amount required ta pay all outstanding
<br /> indebtedness und�r the Note and this Security Instrument shdl be paid to the entity legally entitled thcreto.
<br /> � ln the event of foreclosure of this Security Instrument or other transfer of title to the Property �hat extinguishcs
<br /> ;� che indebtedness, all right, title and interest of f3orrower in and to insurance policies in force shall pass to the
<br /> - purchaser.
<br /> _= 5, p�cy, Preaerv�lioo, Maintemooe md Protxliou of thc Pronerty: Borrower's l.om Application:
<br /> ;� I,ea�o{d�. Bottowcr shall occupy,cstablish, and use thc Pro�ercy as Bonower's principal residence within sixtydays
<br /> ._ -•�--•-..c_t.. ..t.. ��ro�,eFnr nf rhe� PmifCrtvl Aild Shflll
<br />_:� after the execution ut thls �ecuriry insirumcnc (ur wiii�iu s��.:y�o���•�•�:�:��.��. ..--.--_• -- -- --- -
<br /> continue to occupy the Praperty as fiorrower's principal residence for nt Icast one yeaz after the date of occupanay,
<br /> unless L.ender determines that requirement witl cause undue hardship for Borrowcr, ur unlcss extenuating
<br /> circunutances exist which are bcyond Borrower's control. Borrox�er shall no�ify Lender of viy extenuating
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<br /> NIiBRASKA-H7lA DIiHi) OP 7RUSI'
<br /> u,x�n srs�e�»+.i�.�ew�avisaz Pagc 2 0(G
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