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200404179
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the
<br />Note; and (Ii) the perormance of Borrower's covenants and agreements under this Security Instrument and the Note. For this
<br />purpose, Borrower Irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in
<br />the amen scot Ing urls Ictlon
<br />ypeo sco mg uns Ic ton
<br />LOT ONE (1), K E N Y 0 N SD BD I V I S I0 N. HALL 6011 NI Y. NEBRASKA.
<br />which currently has the address of 7 2 5 9 SOUTH MONITOR R O A Deaf
<br />G R A N D I S L A N D , Nebraska 6 8 8 0 3 ("Property Address"):
<br />[City) [Zip Code]
<br />TOGETHER WITH all the improvements now or hereafter erected on the propertyy, and all easements, appurtenances, and
<br />Ihdures now or hereafter a par of the property. All replacements and maAions shall also be covered by this Security Instrument. All
<br />of the foregoing is referred loin this Security Ilnstrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate herebfyy conveyed and has the right to grant and
<br />hthe title t Property Proper against all claims and bdemands, subject to any encumbrances f Borrower warrants and will defend
<br />generally Property
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non- unifomt covenants with limited
<br />variations by jurisdiction to constitute a uniform socurity instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lander covenant and agree as follows:
<br />I. Payment of Principal, Interest, Escrow Items, Prepayyment Charges, and Late Charges. Borrower shall pay
<br />when due the principal of, and interest on, the debt evidenced by the Nora and any prepayment charges and late charges due under
<br />the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security
<br />Instrument shall bo made in U.S. currency. However, 'd 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 payments due under the Note
<br />and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c)
<br />certified check, bank check, treasurers check or cashlei check, provided any such check is drawn upon an Institution whose
<br />deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location des!g8nated in the Note or at such other location as
<br />may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial
<br />payment if the payment or partial payments era insufficient to bring the Lozn current. Lender may, accept any payment or partial
<br />payment insuflicieM to bring the Loan current, without waiver of ny rights hereunder or pre�udlce to tls rights to refuse such payment
<br />or partial payments in the future, but Lender is not obligated tc apply such pa merits at the t me such payments are ac�epled, If each
<br />Paricdlc Payyment is applied as of its scheduled due dale, then Lender neetl not pay interest on unapplled funds. Lender may hold
<br />such unapplied funds until Borrower makes payment to bdng the Loan currant. 11 Borrower does not do so within a reasonable
<br />period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the
<br />outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or
<br />in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or
<br />peronning the covenants and agreements secured by this Security Instrument.
<br />2. Application o} Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and
<br />applied by Lender shall be applied in the following oMer of priority: (a) Interest due under (he Note; (b) principal tlue under the Note;
<br />ame due.
<br />amounts due under Section 3. Such payments shall be applied to each Periodic Payment In the order in which It bec
<br />Any remaining amounts shall ha applied first to Isle charges, second to any other amounts due under this Security Instrument, and
<br />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 sufficient amount to pay any
<br />late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is
<br />outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent
<br />that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or
<br />e. Voluntary prepayments shall be applied first to any
<br />more Periodic Payments, such excess may be applied to any late charges du
<br />prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend
<br />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 under the Note, until the
<br />Note is paid in full, a sum (the "Funds ") to provide for payment of amounts due for (a) taxes and assessments and other items which
<br />can attain priority over this Security Instrument as alien or encumbrance on the Property; (b) leasehold payments or ground rents on
<br />the Property, 8 any, (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance
<br />premiums, if any, or any sums ppayable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance
<br />with the provisions of Section 10. These dams are called "Escrow Items." Al origination or at my time during the term of the Loan,
<br />Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues,
<br />fees and assessments 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 obligation tc pay the Funds for
<br />any or all Escrow Items. Lender may waive Borrowers obligation to pay to Lender Funds for any or all Escrow Items at any time. Any
<br />such waiver may only be In writing In the event of such waiver, Borrower shall pay directly when and where payable, l e amounts
<br />due tort any Escrow Items for which payment of Funds has been waived by Lender and, if Lander requires, shall furnish to Lender
<br />receipts evidencing such payment Within such time period as Lender may require. Borrowers obligation to make such payments and
<br />to provide receipts shall far ail purposes be deemed to be a covenant and agreement contained in this Securty Instrument, as the
<br />phrase "covenant and agreement" 1s used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver,
<br />and Borrower fails to pa the amount due for an Escrow Item, Lender may exercise ds rvghls untler Section 9 and pay such amount
<br />and Borrower shall then 6e obligated under Section 9 to repay to Lender any such amount. Lender may revoke Iha waiver as to any
<br />or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to
<br />Lender all Funds, and In such amounts, that are then required under this Section 3.
<br />Lender ma at any time, collect and hold Funds in an amount (a sufficient to permit Lender to apply the Funds et the time
<br />specialetl under f ESPA, and (b) not 10 exceed the maximum amount a (ender can regwre under RESPA. Lender shall estimate the
<br />amount of Funds due on the basis of current data and reasonable estimates of expenddures of future Escro Iw, to s or otherwise in
<br />accordance with Applicable Law. ,kV/
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