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<br />::`��'7� BORROWER COVBNANTS that Borrower is lawfully sseised of the estate hereby co�v�+ecf and has the right to
<br /> ��*r_�� grant and convey th� 1'roperty and that the Property is unencumbeted. except for encumbrances of record, 8orrower
<br />-,�_� wArranta and will defcnd generaily the dtl�io the Property egainst all claims and demande, subject to any encumbrances
<br />-�;? ';�y of rccord.
<br /> ��``��'�'� THIS SECURITY INSTRUMBNT combines unlform covenante for national use and non•uniforn� covenents with
<br />:�,;;� limlted varladans by Jurisdlcti�n to consdwte a uniform security instrument covedng real property.
<br /> �--"= UNIEORM COVSNANTS. Rarcower and Lender covenutt u►d agree as follaws: --
<br /> - ___ r� 1 paym�t of princip�l� I�taeat wd L.�te G7utae. Bonower shall pay when due the principal of,and interest
<br />� .� on,the debt evldenced by the Nate and lue chuge� due under the Note.
<br /> 2, Mo�thly paymeat of Taaa.In�uyooe,md OU�er (�ti r 6d, I3aROwer shell include In each monthly payment.
<br /> ==�7� together with the principal and interest as set torth in the Note and any lace chazges, a sum for(a) taxes and special
<br /> --m�= assessmcnts levied or to Ue levied against�he Pcoperty, (b) leasehold payments or ground cents oa thc Property, and
<br /> ___ (c) premiums for insurance required under paragraph A. In any year in which the Lender rnust pay a mortgagc
<br /> -- = insurance premium to the Secretary of Housing and Urban Development ("Seccetary"),or in any year in which such
<br /> � = premium would have been reguired if Lender still held thc SeGUrity Instrument, each rnonthly payment shall also
<br /> -=- �� include eithec: (i) a sum for the annual mortgage insurance premium to bt paid by Y.cnder to che Secretary, or(ii) a
<br /> = tnonthly charge Instead of a inortgage inwrance premium if this Security Instnunent is held by the Seccetary, in a
<br /> _=�� reasonable arnount to be determined by th� Secretary. Eac.ept for the monthly chazge by the Secretery, these items
<br /> _ =�•� are called "Escrow Items" and the sums pald to Lender aze callec] "E�craw Funds."
<br /> � " Lender may,at any time, collxt and hold amounts for Escrow Items in an aggregate amount not to exceed the
<br />_�-`_��•� maximum amount that may be requiied far Aorrower's escrow account under the Real Estate Settlement Procedures
<br /> - Act of 1974,12 U.S.C.§2601 e�.and implementing regulations, 24 CPR Part 3500,as they may be amended from
<br /> time to time ("RESPA"), except that the cushion or reserve p�mutted by RESPA fAr unanticipated disbursements or
<br />`-'��"� disbursements before the Bonower's payments are available in thc account may not be baaed on amounts due for lhe
<br /> ----=; mortgage insurance premium.
<br /> : If the amaunts held by I.ender for Escrow Items exceed tiie amounts pem�itted to be held by RESPA, L.ender shall
<br /> -'�!'' account to Bonower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any time
<br /> -'``�'�� are not sufficient to pay the Escrow Items when due, Lender m.ay notify the Bonower and requlre Borrowar to make
<br /> -- - up the shortage as permitted by RESPA.
<br /> -_-_—= 'Ihe Escrow Funds are piaiged as addiiiocwi sa:urity�a:al �w;,s �ur� b;:hi� �^Lrity inc�rument. If Borrower
<br /> tenders te Lender the full payment of all such sums,Borrower's account shell be credited with the balance remsining
<br /> for ell installmeat itrnu (a),(b)�and(c) and any nwrtgage insurance premi�un installment that Lendor hsu not become
<br /> obligAted to pay to the Secretary, and L.ender shall promptty refund any excess funds to Horrower. ItnrrKdiately prior
<br /> to a foreclosure sale of the Property or it9 acquisition by Lender, Borrower's account sh�ll be crodited with u►y balance
<br /> remaining far all inst�llments for items (a). (b). and (c).
<br /> - 3, Applic�tioa of Payttr�. All piyinents under para�raphs 1 and 2 shall be applied by Lender �+follows:
<br /> F R° , to the mortgogo insurance pmnium to be paid by Lender to thz Secr�tary or to the monthly chuge by the
<br /> Secretary inatead of the monthiy matgage i�surana pmnium�
<br /> SECOND� to any taxa,speclai assessinents, leasehold payn�cnts or ground rents,and fire,flood and other haz�rd
<br /> lasuraace prcmiums. as requircd;
<br /> �IIRp, to intecest due under the Note;
<br /> FOURTH, to amortization of the principal of the Note;and
<br /> FIFT , to late chazges due under the Note.
<br /> ----- q. P�� p��q}� g� Innuu�oe. Borrower.hall insure all improvemenu on the Property, whethet
<br /> now in existena or subsequently erected, agunst any huard�, casualties, and wntingencies. including fice,for which
<br /> --`- - Leader requires insurance. Thls insuru►ce shall be maintafned in the amounts and for the periods that Lender
<br /> - requires. Bonower shall also insure all irnprovements on the Property, whether now In existence or subsequently
<br /> • erected, against loss by floods to the extent required by the Secretary. All insurance shall be carried with companies
<br /> —°'—' approvod by I.ender. The insurance palicies and any reaewds shall be held by Lender and shall include loss payable
<br /> -- clauses in favor of,and in a form accepteble to,Lender.
<br /> �-_:�-� In the event of loss,Borrower shall give Ixnder immediate notice by mail. Lender cnay malce proof of loss if not
<br /> �"`�� made promptly by Borrower. Each insurance companY conumed is hereby authorized and directed to mako payment
<br /> ��''=��� for such loss direcdy to Lender, instead of to Borrower and to Lender jointly. All or any part of the inaurance
<br />•�-�:�`. proceeds may be applied by Ixnder, at its option, either (a)ta the reduction of the indebtedness under the Note and
<br /> V=;�x�� this Security Instru�nent, first to any delinquent amounts applied in the order in paragraph 3,and then to prepaymenc
<br /> �••� of principal. or (b) to the restoration or repair of the damaged Property. Any application of the proceeds to the
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<br /> principal shall not extend or postpone the due date 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 to pay all outstanding
<br /> - indebtedness under the Note and this Security insuument shall be paid to the entity legally entitled thcreto.
<br /> . .' In the event of foreclosure of this Sccurity instrumeut or other uansfer of title ro the Property that extinguishes
<br /> ~ i the indebtedness, all right, title and interest of Bonower in and to insurance policies in force shall pass to the
<br /> �: purchaser, � Pmtx.tion of We F�opecty' Horcowa's Lom Appiication'
<br /> �''- s, preaerv�tioa. Milntenancx � •
<br /> " - �� .�_ n..__ n.. un►�a nrinritla� recidence within sixtv davs
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<br /> • � after the exec:ution of this Security Instmmrnt (or within sixty days of a latcr salc or transfer of the Propt�rty) and shall
<br /> continue to occupy the Propcity as Borrower's principal residence for at least one year after the date of occupancy,
<br /> unless Lender dctercnines that requiremcnt will cause undue hardship for Borrower, or unless extenuating _
<br /> , circumstances cxist which are beyond Docrower's contcol. Borrower shall notify [.ender of az�y extenuating
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<br /> NFBRASKA-P11A D6IID OA TRUSI'
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