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200304143 (Q) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et sey.) and its implementing regulation, Regulation X (24 C.F.R. fart 3500), as they might be conceded from time to time, or any additional or successor legislation or regulation that govcros the same subject matter. As used in this Security Instrument, °RESPA" infers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even ifthe Loan does not quality as a `federally related mortgage loarr' under RESPA. (R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note card/or this Security Instrument TRANSFER OF RIGHTS IN THE PROPERTY The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's successors and assigns) and to the sawessors and assigns of MERS. this Security Instrument secures to Lender: (i) the repayment ofthe Loan, and all renewals, extensions and modification, of the Note; and (it) the performance ofBi rrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the County of Hall: LOT 11 IN BLOCK 3 I THE FIFTH ADDITION TO THE VILLAGE OF CAIRO, HALL COLINTY, NEBRASKA Parcel Identification Nmnber. 400171309 which currently has the address of 611 These Address "): Cairo, NEBRASKA 68824 ("Property TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument All of the foregoing is referred to in this Security Instrument as the "property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lcuder mid Lender's suecessors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the fight m foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that limstwer is lawfitlly seized ofthe estate hereby conveyed and has the nght to grant and convey the Property and that the Property is unencumbered, except for encumbrances ofrecord. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject re any encumbrances of record. THIS SECURI'1 Y INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform seounty Instrument covering real property. I INIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Harrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shell also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in US, currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is relumed to Leader unpaid, Lender may require that any or all subsequent payments due under the Now and this Security Instrument be made in one or more ofthe following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn aboard institution whose deposits are iremcd by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or st such other location as may be designated by I under in accordance with the notice provisions in Section 15. Lender may retan any payment or partiol payment ifthe payment or partial payments are insufficient to bring the Loan ancient. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the Ermi e, but Lender is not obligated to apply such payments at the time such payments ore accepted, if each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied fiends until Borrower makes payment to bring the Loan current. It Bonawer does act do so within a reasonable period of time, Lender shall either apply such fiends or retain them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have raw or in the fhtore against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall he applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second many other amounts due render this Security Instrument, and then to reduce the principal balance of the Note. If Leader receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply my payment received from Borrower in the repayment ofthe Periodic Payments if, and to the extent 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 of more Periodic Payments, such excess may be applied to any late charge, due: Vulmrtary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Misexllane o s Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, ofthe Periodic Payments. 3. Funds for Escrow Items. Borrower shat I pay to Leader on the day Periodic Payments are due under the Note, until the Note is paid in ful I, a sum (the "Funds") to provide for payment of amounts due for. (a) taxes and assessments and other items which can attain pommy over this Recrdty Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (e) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if wry, or any sums payable by Borrower to Lender in lieu of the payment ofMmigage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the tens of the Load, Lender may require that Commurdty Association Dins, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees mid assessments shall be an Escrow Item. rr Boower shall amnptly bared h to Leader all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for my or all I +arrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due fur any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase `covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 mid pay such amount add Borrower shall then be obligated under Section 9 to repay to Lender any such amount. NEBRASKA - Single Fair ily- Famiie Maelireddie Mac @.FORM MSTRUME.. with MERS F.1. 3028 1101 Page 2 of ] `2/1 ins, roc. -leach ssaian Bormwer(s) Initials