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200213462
<br />TRANSFER OF RIGHTS IN THE PROPERTY _
<br />This Security Instrument secures to Leader: (i) the repayment of the Loan, and all renewals, extensions and modifications of
<br />the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For
<br />this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described
<br />property located in the ...................................... ... ............... COUNTY ... ........_ ____ ...... ............................. of
<br />[Type of Recording Junedicaonl
<br />. SEWARD .................... N.e.m.e . . of Recording Jaodkto.n. .............................:
<br />ALL OF LOT 3 AND THE W 112 OF LOT 2, IN PALU SUBDIVISION, BEING A PART OF THE NE 114 OF THE NE 114 OF SECTION 33, IN
<br />TOWNSHIP 11 NORTH, RANGE 9 WEST OF THE 6TH P.M., AND A TRACT OF LAND LYING SOUTH AND ADJACENT THERETO, BEING A
<br />PART OF LOT 41N SAID PALO SUBDIVISION, WHICH IS MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SW
<br />CORNER OF SAID LOT 3, THENCE RUNNING EAST ALONG AND UPON THE SOUTH BOUNDARY LINE OF SAID LOT 3 AND LOT 2 FOR A
<br />DISTANCE OF 112.5 FEET; THENCE TURNING AT RIGHT ANGLES AND RUNNING SOUTH A DISTANCE OF 40.0 FEET; THENCE TURNING
<br />AND RUNNING WEST AND PARALLEL WITH THE SOUTH BOUNDARY LINE OF SAID LOTS 3 AND 4, A DISTANCE OF 112.5 FEET; THENCE
<br />TURNING AND RUNNING NORTH A DISTANCE OF 40.0 FEET TO THE SW CORNER OF SAID LOT 3, BEING THE POINT OF BEGINNING;
<br />EXCEPTING THEREFROM THAT PART OF LOTS 3 AND 2 OF PALO AS CONVEYED TO THE STATE OF NEBRASKA, BY WARRANTY DEED
<br />RECORDED IN BOOK 137, PAGE 171 OF THE DEED RECORDS OF HALL COUNTY, NEBRASKA.
<br />which currently has the address of ................. ............................505 H,U,SKER HWY,,,,,,,,,,,,,,, ....................._.........
<br />Iso-eod
<br />.........................GRAND ISLAND .......................... Nebraska ............... ....68.80.1.................... ( "Property Address "):
<br />Idyl (Zip Code]
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,
<br />and fixtures now or hcreaf cr a part of the property. All replacements add additions shall also be covered by this Security
<br />Instrument. All of the foregoing is referred to in this Security Instrument as the "Properly."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant
<br />and convey the Property and that the Property is unencumbered, except for encumbrances of record Borrower warrants and
<br />will defend generally the title 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 nonuniform covenants with limited
<br />variations by 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
<br />when due the principal of, and interest on, the debt evidenced by the Note add any prepayment charges and late charges due
<br />under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this
<br />Security Instrument shall be made in U.S. currency. However, if any check or other morument received by Lender as payment
<br />under the Note or This Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent
<br />payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by
<br />Lender. (a) cash; (b) money order, (c) certified check, bank check, treasurer's check or cashier's check, provided any such
<br />check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or BB Electronic
<br />Funds Transfer.
<br />Payments am devoted received by Lender when received at the location designated in the Note or at such other location
<br />as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or
<br />partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment
<br />or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to
<br />refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such
<br />payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on
<br />uuapplied foods. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. if Borrower
<br />does not do so within a reasonable period of tine, Lender shall either apply such funds or return them to Borrower. If not
<br />applied earlier, such fonds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure.
<br />No offset or 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 this Security
<br />Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and
<br />applied by Lender shall be applied in the following order of priority: (a) interest doe under the Note; (b) principal due under
<br />the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it
<br />became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security
<br />Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to
<br />pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic
<br />Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if,
<br />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
<br />full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments
<br />shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insumuce proceeds, or Miscellaneous Proceeds to principal due under the Note shall not
<br />extend or 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
<br />the Note is paid in full, a sum (the "Funds ") to provide for payment of amounts due foe (a) taxes and assessments and other
<br />items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments
<br />or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d)
<br />Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance prendurrts in accordance with the provisions of Section 10. These hems are called "Escrow Items." At origination or
<br />at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any,
<br />be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to
<br />Lender all notices of amounts to be paid under this Section. Borrower shalt pay Lender the Funds for Escrow items unless
<br />Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation
<br />to Pay to Lender Foods for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such
<br />waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Iterns for which payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within
<br />such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all
<br />purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and
<br />agreement" is used in Section 9. if Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower
<br />NEBRASKA — Single Family —Fmrde MaelFreddie Mae UNIFORM INSTRUMENT Form 3028 1101
<br />Sers re Systems, m.. SI Claud, MN Form Me I NE 9 /17/3000 g%,e 2 of7F4e[Jf 1��
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