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200200982
<br />or regulation that governs the same subi cut matter. As used in this Security Instrument, "RESPA" refers to all requirements
<br />and restrictions that are imposed in regard to a "federally related mortgage Ivan" even iFthe Loan does not quality as a
<br />"federally related mortgage loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken tide to the Property, whether or not that pally has
<br />assumed Borrower's obligations under the Note and /or this Security Instrument.
<br />TRAN SPER OF RIGHTS IN'I'HE PROPERTY
<br />This Security Instrument secures to Lender:
<br />(I) the repayment ofthe Lnan, and all renewals, extensions andnrodificationsof
<br />the Note; and (i i) the performance of Borrower's covenants and agrecmeuts under this Security Instrument and the Note.
<br />For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power ofsale, the following described
<br />property located in the Coun>�__ of Hall_-- _ _
<br />[Type of Recording Jurisdiction] [Name of Recoreling Jurisdiction]
<br />A tract of land comprising a part ofthe Northeast Quarter (NEl /4) of Section Fight (8), Township Twelve
<br />(12) North, Range Nine (9) West ofthe 6th P.M., in Hall County, Nebraska; more particularly described as
<br />follows: Beginning at a point on the westerly right -of -way line of U.S. Highway No. 281, said point being
<br />Seven Hundred Forty Seven and Two Tenths (747.2) feet south and Thirty Nine and Seventy Five
<br />Hundredths (39.75) feet west of the northeast corner of said Section Eight (8); thence westerly parallel to the
<br />north time of said Section Fight (8), a distance of One Thousand One Hundred Sixty Six and Two Hundredths
<br />(1,166.02) feet; thence deflecting left 91 025' and running southerly, a distance of Five Hundred Seventy Two
<br />and Eight Tenths (572.8) feet; thence easterly parallel to the north line of said Section Eight (8), a distance of
<br />One Thousand One Hundred Sixty Four and Thirty Nine Hundredths (1,164.39) feet, to the westerly
<br />right -of -way line of said U.S. Highway No. 281; thence northerly along said highway right -ot -way line, a
<br />distance of Five Hundred Seventy Two and Eight Tenths (572.8) feet to the place of beginning, EXCEPTING
<br />a certain tract Deed to We State of Nebraska more particularly described in Warranty Deed recorded as
<br />Document No. 93- 104890.
<br />which currently has the uddi ess of 7800 N, US Hwy 8281
<br />[Street]
<br />Grand Island _ _ , Nebraska 66�_ ( "Property Address "):
<br />[City] _ -- [Zip Code]
<br />TOGLFHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part ofthe property. All replacements and additions shall also be covered by
<br />this Security Instrument. All ofthe foregoing Is referred to in this Secm'rty Instrument as the "Property"
<br />IJORRO W ER COVEN AN TS [hat Borrower is lawfully seized oldie estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of
<br />record.
<br />THISSECUR11'Y INSTRUMENT combines uniform covenants for national use and nonunifonu covenants with
<br />limited variations byjurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender eovenantand agree as follows'.
<br />1. Payment ofPrinelpal, Inte rest, Escrow Items, Prepayment Charges, and Late Charges. Burrower shall
<br />pay when due the principal of, and Interest on, the debt evidenced by the Note and any prepayment charges laid late charges
<br />due under the Note. Borrower shall also Puy funds for Escrow Items pursuant to Section 3. Payments due under the Note
<br />and this Security instrument shall be made in U.S. currency. However, ifany check or other instrument received by Lender
<br />as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may, require that any or all
<br />subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as
<br />selected by Lender (a) cash; (b) money order; (c) certified check, hank check, treasurer's check or cashier's check,
<br />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 arc deemed received by Lender when received at the location designated in the Note or at such other'
<br />location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any
<br />payment or partial paynoeotifihe payment or partial payments are insufficient to bring the [,can current. Lender lnayaccept
<br />any payment or partial payment insufficient to bring the Loan current, without waiver ofany rights hereunder or prejudice to
<br />its rights to refuse such payment or partial payments in Ole future, but l -ender is not obi iggined to apply such payments at the
<br />tune such payments are accepted Hirsch Periodic Payment is applied as ofits schedule li due date, then Lender need not pay
<br />interestonull pliedfunds. Lender may hold such unapplied fiends until Burrower makes payment to bring the[ rem current.
<br />If �orrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to
<br />Borrower. (fool applied earlier, such funds will be applied to the culs[anding principal balance under the Note immediately
<br />prior to foreclosure No offset or claim which Burrower might have now or in the future against Lender shall relieve
<br />Borrower from looking payments due under the Note and this Security Instrument or performing the covenants and
<br />agreements secured by this Security Ins'truutent,
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority (a) interest due under the Note;
<br />(b) Iarincipal due under the Nom; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment
<br />In tloe order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other
<br />amounts due under this Security Instrument, and then to reduce the principal balance critic Note.
<br />NEBRASKA Single F>anily -- Fannie Mae /Freddie Mike UNIFORM INSTRUMENT Fln'm3029 1/01 f ig,21Jemlpe1)
<br />915"CV(210I) Gn407
<br />comronmsaar
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