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<br /> �-�•°� BORROWER COVBNANTS that Borrawer is lawfully seiewJ of tlie csta�e hereby conveycd nnd has thc right to —
<br /> -,-;;-xn,•� �grant and convey[he Property a��d th�� the Propeny is unencwntxred, cxcept for cncumbrances of rec:ord, Borrower _
<br /> ' warrants and wlll defend generally the title to the Propeny against all clafnu and de��iands, sub�ect to any encumbrancrs
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<br />- � .;...., � of recard, —
<br />..:s-�� ,„ THIS SECURITY iNSTRUMENT conibincs uniform covenants for national usc and non-unifarm covcaa�us with =_
<br /> ;�' � limited vuiations by jurisdiction to constitute u unlform security instrumrnt covering reel property,
<br />-"'-'�-°�`'�'' � UNIFORM COVENANTS. Borrower and Lender covcnant and agrec as follows: �-
<br />,-_��� i. P�ymcat of Princepil, Iruerat ud L�te Gltuac. Barrower shall p�y when due the principal of,and interest
<br /> on,the debt evidenced by the Note and lAte charges due under the Note.
<br />__— 1�—,-� Z, MonUily Paymeat of Taus,�. �d� �Ba• �na"'er shaU include in each monthly payment,
<br /> -�` ;>°'� Iogt[hCr wtth the principal and interest as set forth in Ihe Note and any late charges, a sum for(a)taxes and special
<br />''f;;�::-�� .
<br /> .- ,.._ L� assessments levied or to be levied against the Property, (b) leasehald paym�nts or ground rents on il�e Propeny, and
<br />-=,���'i�' (c) premiums for insurence required under paragraph 4. In any year in which the l.ender �uust pay a mortgage �
<br /> y��;s•��:�'r insurance prertuum to the Sec:retary of Housing and Urban Development ("Secretary"),or in any year in which such
<br /> ._=;iSC'4;F`y.:.
<br /> ..__r.,.•.� premium would have been requfred if L,ender still held the Security Instrument, each monthly paytnent shall so
<br />-T y''"�•: include either: (i) a sum for the azinual mortgage insurance premium to be paid by lxnder to the Secretary, or (ii) a
<br /> `�b'�:���` �nonthly charge instead of a n�ortgage insurance premium if this Security instrument is held by the Secretary, in a
<br />_��,;����� reasonable annunt to be determined by tl�e Secretary. Except for the monthly chazge by the Secretary, these items
<br /> =rt'sr:•�,. are called "Escrow Items" and tho sums paid ro I.ender are called "Escrow Funds."
<br />°`"��"'•' Lender may,at any time, collect and hold amounts for Escrow Items in an aggregate arnount not to excec�i the
<br />-�=-' .a�,�4
<br /> -��'� �: ma�eimum amount that may be required for Borrower's escrow account under the Real Estate Settlemeut Prceedures
<br /> � .�. Act of 1974,12 U.S.C.§2601 et se ,and implementing regulations, 24 CFR Part 3500,as they may De a�nended from
<br />.���:':•`:r.�� time to time ("RESPA"),except that the cushion or reserve permitted by RESPA for unanticep�ted disbursements or
<br />���,f� disbursen�ents before the Borrower's payments are available in the account may not be based on amounts due far tt;e
<br />,:,.=Ni� mongage insurance premium.
<br /> '=�:;�; If the amounts held by Lender for Escrow Items exceed the arnounts permitted ro be held by[tFSPA, Lender shall
<br />= "-"'<< account to Borrower for the excess funds as required by RESPA. If the amouncs of funds held by Lender at any time
<br /> =�'"�� ue not sufficient to pay the Escrow Iterns when due, L,endei may notify the Bonower and reyuire Borrower to maice
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<br />'`c�;�,';� up the shortage as permitted by RESPA.
<br /> - �' ��- �T'�P Rccrnw Funds are nted¢ed as additional security for all sums secured by this Security Instrument. If Borrower
<br /> '.�_;, k"�;c
<br /> �r;�,�.,,.4 tencfers to Lender tFe full payment of all such sums,Hoaower's account shall be credited with tne naiance remaining
<br /> =;.���_ � for all installment items(a),(b),and(c)ar►d any mortgage insurance premiuiri installment :hat Lender has not become
<br /> �^f � obligated to pay ta the Seeretary, and Lender shall promptly refund any excess funds to Borrower. Immediately prior
<br /> •W�•�. �: to a forcelosure sale of the Property or its acquisition by Lender, Borrower's account shall F►e credited with any balance
<br /> ;-';,;(t.:o
<br />��:_.,.,,w�; remaining for all installments for items (a), (b), and (c).
<br /> -�*"^`'�"" 3. Applicatioo of Payn�. All payments under paragraphs 1 and 2 shall be applied by Lender as follows:
<br /> '_�����
<br />.:,_,,�:���y�� FIRST, to the mortgage insurance premium to be paid by L.ender to the Secretary or to the monthly charge by thc
<br /> - """"�`� Secretary instead of the monthly mortgage insurance premium;
<br /> :'�,;_ x..�
<br /> •--s a°•. SECOND, to any taxes,special assessments, leasehold payments or ground rents, and fire,tload end other huard
<br />_=-°?'y� insurance premiums� as required;
<br />-_�r�*�� THIRD, to interest due under the Note;
<br /> ��"�, � FOURTH, to amortizatior. of the principal of the Note; and
<br /> � �`�• FIFTH, to late chazges due under the Note.
<br />-�.�.: i�e��
<br /> __vs.�;Y�„�„—— 4. ���� and qher Fiar�e�ci Insun�cc. Bonower shall insure all impruvements on the Property, whether
<br />_ �•; now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire,for which
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<br />=:�c�;',�; Lender requires insurance. 'Ihis inswance shall be maintained in the amaunts and for the periods that Lender
<br /> -;�-��::-
<br /> ' requires. Borrower shall also insure all improvements on the Property, whether now in existence or sub.sequently
<br />�..-�:���' - erected, against loss by floods to the extent required by the Secretary. All insurance shall be carried with companies
<br /> „�e��.:.-.r
<br /> � :�= '_. approved by Lender. 'fhe insurance policies and any renewals shall be held by Lxnder and shall include loss paya e
<br />-�'°;���,. clausrs in favor of,and in a form acceptable to,Lender.
<br />-±:�:1,,,�;�;,:: % In the event uf loss,Borrower shall give Lender imt►x�diate notice by�r�ail. Lender may mafce proof of loss if not
<br /> -_-=..,.�,. ,. ., made prom.�dy by Burrower. Each insurance company concemed is hereby authurized and directed to make payment
<br /> • fot such loss direcdy to Lender, instead of to Borrower and to l.ender joindy. Afl or any part of the insurancc
<br /> � proceeds may be applied by Lcnder, at its option, cither (a) to the reduction of the indebtedness under the Note and
<br /> : this Security Instrument, first to any deliuquent amounts applied in the order in paragraph 3,and then to prepaymeat
<br /> � � of principal, or (b) to the restoraron or repair of the damaged Propeny. Any application of the prceeeds to the
<br /> � prineipal shall not extend or postpone the due dace uf[he monthly payments which are referred to in paragraph 2,or
<br /> �' change the amount of such payments. Any excess insurance pra:eeds over an amount required to pay all outstanding
<br /> ' indebtedness under ihe Note and. this Security Instrument shall be paid to the entity legally entitled thereto.
<br /> ' In thc cvent of forcclosure of this Sccurity Instrument or other transfer of title to the Pruperty that ex►inguishcs
<br /> " " the indebtcdness, all right, tidc anci interest of Borrowcr in and to insurance policics in Force shall pass to thc �
<br /> - purchaser. �
<br /> � 5. Oecupaocy. Preservation. Maintt�u�ce and Protaxion of the Property; &►rrowa'a L�o�n Applicat4on; i
<br /> lrs�ebolds_ Sonower shall occupy,establish, and use the Property �s Borrower's princip:il residence within sixtydays �
<br /> after tlie execntion of this Security Cnstn►ment (or wi�hin sixry daya of a later s:ile or transier ot the t'ropeny) ana snaii
<br /> � continuc to occupy the Property as E3orro�ver's princip�3 residence fur at Ieast one ycar after ttie date of occupancy,
<br /> � unless Lende: detcrmincs that requircment will causc undue hardsliip for Borro�ver, or ur�less extenuating
<br /> circumstances exist ���hich are beyond Borrower's control. E3orrower shall notifp Lender of any eatenuating
<br /> . � i
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<br /> � NI:HRASKA-H71A CF1:D QF'1?:UST
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