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200200737 CASE I1: LAP321321321321 DOC I0 # 000033162743193 A TRACT OF LAND COMPRISING A PART OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 10, TOWNSHIP 11 NORTH, RANGE 11 WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID NORTHEAST QUARTER AND RUNNING THENCE EAST ALONG THE NORTH LINE OF SAID NORTHEAST QUARTER, A DISTANCE OF 438.0 FEET; THENCE SOUTHERLY PARALLEL TO THE WEST LINE OF SAID NORTHEAST QUARTER A DISTANCE OF 185.0 FEET; THENCE DEFLECTION RIGHT 44 49'40" AND RUNNING SOUTHWESTERLY, A DISTANCE OF 234.05 FEET; THENCE WESTERLY PARALLEL TO THE NORTH LINE OF SAID NORTHEAST QUARTER A DISTANCE OF 273.0 FEET TO THE QUARTER SECTION LINE AND THENCE TURNING AND RUNNING NORTH ALONG AND UPON THE QUARTER SECTION LINE A DISTANCE OF 350.0 FEET TO THE POINT OF BEGINNING. ParcellDNumber: 400198053 which currently has the address of 10487 WEST CAPITAL AVE, WOOD RIVER Isnem/Cdyl Nebraska 68883- ( "Property Address'): IZip cmel 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 in in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title in the interest granted by Borrower in this Security Instrument, but, if necessary in comply with law or custom, MFRS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited m, the right 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 Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances Of record. Borrower warrants and will defend generally the tide to the Pmperty against all claims and demands, subject many encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower 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 shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Now and this Security Instrument shall be made in U.S. currency. However, if any check Or other instrument received by Lender as payment under the Now or this Security Instrument is returned to Lender unpaid. Lender may require that any or all subsequent payments due under the Note and this Security Instrument he made in one in more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check in cashier's check, provided any such check is drawn upon an institution whose deposits are insured 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 Now or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder u prejudice in its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments am accepted. If each periodic Payment is applied as of its scheduled due date, then Lender need not pay interest On unapphed funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. if Borrower does not do an within a reasonable period of time, Lender shall either apply such funds or reform them in Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Now immediately prior w foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Now and this Security Instrument or perfuming 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 be 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 under this Security Instrument, and men to reduce the principal balance of the Note. If Lender 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 in the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Perialic 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 in the full payment of one Or more ®- 61(NE)I00051.01 CHL(01101) Paeaamn Forntt30 1 /01 m