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200002410
<br />LOAN #s
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
<br />fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All
<br />of the foregoing is referred to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey
<br />the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally
<br />the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited
<br />variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal
<br />of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender
<br />on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") for: (a) yearly taxes and
<br />assessments which may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments or ground
<br />rents on the Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums, if any; (e) yearly
<br />mortgage insurance premiums, ifany; and (f) any sums payable by Borrower to Lender, in accordance with the provisions ofparagraph
<br />8, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items. " Lender may, at any time, collect
<br />and hold Funds in an amount not to exceed the maximum amount a lender for a federally related mortgage loan may require for
<br />Borrower's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U. S. C.
<br />Section 2601 et seq. (` `RESPA "), unless another law that applies to the Funds sets a lesser amount. If so, Lender may, at any time,
<br />collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amount of Funds due on the basis of
<br />current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with applicable law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including
<br />Lender, if Lender is such an institution) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items.
<br />Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow
<br />Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. However, Lender
<br />may require Borrower to pay a one -time charge for an independent real estate tax reporting service used by Lender in connection with
<br />this loan, unless applicable law provides otherwise. Unless an agreement is made or applicable law requires interest to be paid, Lender
<br />shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender may agree in writing, however,
<br />that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds, showing
<br />credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional
<br />security for all sums secured by this Security Instrument.
<br />If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower for
<br />the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any time is
<br />not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrower shall pay
<br />to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve monthly
<br />payments, at Lender's sole discretion.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held
<br />by Lender. If, under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the acquisition or sale of the Property,
<br />shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1
<br />and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payable under paragraph 2; third,
<br />to interest due; fourth, to principal due; and last, to any late charges due under the Note.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which
<br />may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations
<br />in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed
<br />payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these
<br />payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing
<br />to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends
<br />against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien;
<br />or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If
<br />Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender
<br />may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within
<br />10 days of the giving of notice.
<br />5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or
<br />flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender
<br />requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not
<br />be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage
<br />to protect Lender's rights in the Property in accordance with paragraph 7.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall
<br />have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid
<br />premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender
<br />may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair ofthe Property
<br />damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not
<br />economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this
<br />Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer
<br />within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance
<br />proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether
<br />or not then due. The 30 -day period will begin when the notice is given.
<br />NEBRASKA- Single Family - FNMA/FHLMC UNIFORM INSTRUMENT
<br />Form 3028 9/90 Amended 5191
<br />NEVDEED Page 2 of 5
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