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200205587
<br />TOGETHER W IllI all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument All of the foregoing is referred to in this Security Instrument as the "Property."
<br />BORROWER COVLNAN'IN that Borrower is lawfully seised of the estate hereby conveyed and has the
<br />right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any
<br />encumbrances of record.
<br />THIS SF,CLIRITY INSTRUMENT combines uniform covenants for national use and non - uniform
<br />covenants with limited variations byjurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVLNAN IS. Borrower and Lender covenant and agree as follows
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower
<br />shall pay when due the principal of and interest on, the debt evidenced by the Note and any prepayment charges
<br />and late charges due under the Note_ Borrower shall also pay funds for Escrow Items pursuant to Section 3.
<br />Payments due under the Note and this Security Instrument shall be made in U.S. currency_ However, if any check or
<br />other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender
<br />unpaid, Lender may require that any or all subsequent payments due under the Not, and this Security Instrument be
<br />made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check,
<br />bank check, treasurer', dunk or cashier's 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 tender when received at the location designated in the Note or at such
<br />other location as may be designated by Leader in accordance with the notice provisions in Section 15. Lender may
<br />return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current .
<br />Lender may accept any payment or partial payment insufficient to brine the Loan current, without waiver of any
<br />rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not
<br />obligated to apply such payments at the time such payments are accepted. Ifeach Periodic Payment is applied as of
<br />its scheduled Line date, then Lender need not pay interest on unapplicd funds. Lender may hold such unapplicd
<br />funds until Borrower makes payment to bring the Loan current. If 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
<br />will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or
<br />claim which Borrower might have now or in the future against Lender shall relieve Borrower from making
<br />payments due under the Note and this Security Instrument or performing the covenants and agreements secured by
<br />[Iris Security fisn'ument.
<br />2. Application of Payments or Proceeds. Except as otherwise describer] in this Section 2, all payments
<br />accepted and applied by Leader shall be applied in the following order of priority: (a) interest due under the Note;
<br />(b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic
<br />Payment in the order in which it become due. Any remaining amounts shall be applied first to late charges, second
<br />to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note_
<br />If Lender receives a payment font Burrower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge_ If
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received from Burrower to the
<br />repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To Om extent that
<br />any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess
<br />may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and
<br />then as described in the Note.
<br />Any application of payments, insurance proceeds, or Misce llaneous Proceeds to principal due under the
<br />Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. N'unds for Escrow Items. Borrower shall pay to bender on the day Periodic Payments are due under the
<br />Note, until the Note is paid in full, a sum (the "Ponds ") to provide for payment of amounts due for (a) taxes and
<br />assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the
<br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />NEBRASKA-- Sin in, [.rein -- Fannie M1lae /Freddie bloc UNIFORM INSi Ht MEN 1' Form 30281/01
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