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TRANSFER OF RIGHTS IN THE PROPERTY 200214257 This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Nom; and (ii) the performance of Borrower'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 propertylocated in the ... ................................... .................... County ........ ..... ................ .............. ............. of ITVPe of Recording Jurisdiction] H a11.Gaunty. Resister. of. 0. eeds .............................. ................. ...........: [Name of Recording Jurisdiction] The North 38.75 Feet of Lot 13, all of Lot 11, Black 18, University Place Subdivision, City of Grand Island, Hall County, Nebraska. which currently has the address of ...................... .........................2,010. N H,m ward. Ave........... ......_.........._............. Isneeq ......_ ..Gran d. Island ........................... Nebraska .............. .....&80.03 .................. . ( "Property Address "): ICitvl [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, sad fixtures now or hereafter a part of the property. All replaeemen6 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 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 title to the Property against all claims and demands, subject on any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and moo. uniform rev .an.is 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 Note 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 Note 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 be made in one or more of the 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 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 of 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 or prejudice to its rights to refuse such payment or partial payments in the future, but Leader is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due dale, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Nom immediately prior to 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 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 be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Nom; (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 to any other amounts due under this Seemity, Instrument, and then 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 lath charge. if more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the 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 or more Periodic Payments, such excess may be applied to any late charges disc. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Notts, until um the Note is paid in full, a s (the "Funds ") to provide for payment of amounts due for: (a) taxes and asgeAsrAeWFrtd other items which can attain priority over this Security lnstmmem as a lien or encumbrance on the Property; (b) leaschold'payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender 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 Fonds for any or all Escrow 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 for 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 treated 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 NEBRASKA— Single Family Fannie Mae /Freddie Mae UNIFORM INSTRUMENT Form 3028 ,11//01 a.rt.nsvn.ma. in=.. e, erne. nnN true mo -t sc an]rz000 arms f7,,.)