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DEED OF TRUST 200412027
<br />Loan No: 0046433082 (Continued) Page 2
<br />(24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs
<br />the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in
<br />regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed
<br />Borrower's obligations under the Note and /or this Security Instrument.
<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 Note; and
<br />(ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the County of Hall:
<br />Real Property tax identification number is
<br />Lot Twenty -four (24) Country Meadows Second Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />which currently has the address of 4146 Westridge Lane, Grand Island , Nebraska ( "Property Address "):
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now
<br />or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is
<br />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 the
<br />Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title
<br />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 variations by
<br />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, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal
<br />of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also
<br />pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S.
<br />currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned
<br />to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one
<br />or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or
<br />cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or
<br />entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be
<br />designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the
<br />payment or partial payments are 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 payment or partial payments in the
<br />future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied
<br />as of its scheduled due date, then 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 time, Lender shall either apply such
<br />funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note
<br />immediately prior to foreclosure. No 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 and agreements secured by this
<br />Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by
<br />Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due
<br />under Section 3. Such payments 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, and then to reduce the principal
<br />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 late
<br />charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding,
<br />Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment
<br />can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments,
<br />such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as
<br />described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or
<br />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 Note is paid
<br />in full, a sum (the "Funds ") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority
<br />over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c)
<br />premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable
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