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� r 59 107372 �
<br /> LOAN #: 9765066
<br /> TOGET'HER WITH a11 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 Bonower 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'I'axes 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 Properly,if any;(c)yearly hazard or property insurance premiums;(d)yearly flood insurance premiums,if any;(e)yearly
<br /> mortgage insurance premiums,if any;and(fl any sums payableby Borrower to Lender,in accordance with the provisions of paragraph
<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,l2 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,orverifying 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.Bonower and Lender may agree in writing,however,
<br /> that interest shall be paid on the Funds.Lender shall give to Bonower,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 inwriting
<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 Instnunent,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 "e�ended 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 of the 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 /'J� ��
<br /> Form 3028 9/90 Amended 5/91 I Ill.t 1 al.S:
<br /> NEVDEED Page 2 of 5
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