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which currently has the address of 720 W Division St, Grand Island, <br />Nebraska 68801 ("Property Address"): <br />[Zip Code] <br />24210146g <br />[Street] [City] <br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, <br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall <br />also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument <br />as the "Property." <br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and <br />has the right to grant and convey the Property and that the Property is unencumbered, except for <br />encumbrances of record. Borrower warrants and will defend generally the title to the Property against <br />all claims and demands, subject to any encumbrances of record. <br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform <br />covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real <br />property. <br />UNIFORM COVENANTS. Bon -ower and Lender covenant and agree as follows: <br />1. Payment of Principal, Interest, Escrow items, Prepayment Charges, and Late Charges. <br />Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any <br />prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow <br />Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in <br />U.S. currency. However, if any check or other instrument received by Lender as payment under the Note <br />or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent <br />payments due under the Note and this Security Instrument be made in one or more of the following forms, <br />as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurers check or <br />cashier's check, provided any such check is drawn upon an institution whose deposits are insured by <br />a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. <br />Payments are deemed received by Lender when received at the location designated in the Note <br />or at such other location as may be designated by Lender in accordance with the notice provisions in <br />Section 15. Lender may return any payment or partial payment if the payment or partial payments are <br />insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to <br />bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such <br />payment or partial payments in the future, but Lender is not obligated to apply such payments at the time <br />such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then <br />Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower <br />makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of <br />time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds <br />will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No <br />offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower <br />from making payments due under the Note and this Security Instrument or performing the covenants <br />and agreements secured by this Security Instrument. <br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all <br />payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest <br />due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments <br />shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts <br />shall be applied first to late charges, second to any other amounts due under this Security Instrument, <br />and then to reduce the principal balance of the Note. <br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a <br />sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and <br />the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received <br />from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be <br />paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or <br />more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments <br />shall be applied first to any prepayment charges and then as described in the Note. <br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under <br />the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. <br />3. Funds for Escrow items. Borrower shall pay to Lender on the day Periodic Payments are due <br />under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due <br />for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as <br />a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; <br />(c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance <br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance <br />premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At <br />origination or at any time during the term of the Loan, Lender may require that Community Association <br />Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments <br />shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under <br />this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's <br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay <br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 <br />Ellie Mae, Inc. Page 3 of 10 <br />NEUDEED 0415 <br />NEUDEED (CLS) <br />