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200502447 (12) West of the 6t' P.M., in Hall County, Nebraska, more specifically described as follows: Beginning at the Southwest corner of the Northwest Quarter thence Northerly along the West line of said Section Four (4), a distance of Four Hundred Eighty -Six and Thirty-Seven Hundredths (486.37) Feet; thence deflecting right 88'30'17" and running Easterly a distance of Three Hundred Fifty -five and Sixty - seven Hundredths (355.67) Feet to the true point of beginning; thence continuing Easterly upon the last described course a distance of Two Hundred Forty (240) Feet; thence running Southerly parallel to the West Line of said Section Four (4) a distance of Four Hundred Twenty (420) Feet; thence running Northwesterly to the true point of beginning; AND ALSO A tract of land comprising a part of the Northwest Quarter of the Southwest Quarter (NW1 /4 SW1 /4) of Section Four (4), Township Eleven (11) North, Range Twelve (12) West of the e P.M., in Hall County, Nebraska m ore particularly described as follows: Beginning at the Northwest corner of said Southwest Quarter (SWI /4); thence Northerly along the West line of said Section Four (4), a distance of Four Hundred Eighty -six and Thirty -seven Hundredths (486.37) Feet; thence deflecting right 88'30'17" and running Easterly, a distance of Five Hundred Ninety -Five and Sixty -seven Hundredths (595.67) Feet; thence Southerly parallel to the West line of said Section Four (4), a distance of Five Hundred Forty-Six and Seventy -three Hundredths (546.73) Feet to the true point of beginning; thence continuing Southerly parallel to the West line of said Section Four (4) a distance of Ninety (90) feet; thence deflecting right 88 °05'03" and running ''Westerly a distance of Seventy (70) feet; thence running Northeasterly to the true point of beginning; together with all the rents and profits therefrom and subject to easements and restrictions of record, if any. Borrower owes Lender $340,000.00, evidenced by Borrower's note of even date, payable according to the terms thereof This Security Instrument secures to Lender the debt evidenced by said note, the payment of all other sums, with interest, advanced under the provisions hereafter to protect the security and the performance of Borrower's covenants and agreements. Borrower covenants that Borrower is lawfully seized of such real estate and has the legal power and lawful authority to convey the same and warrants and will defend title to the real estate against the lawful claims of all persons. BORROW AND LENDER AGREE AS FOLLOWS: Borrower shall pay when due, the principal and interest as provided in said note. 2. All payments received by Lender shall be first applied to advances which may have been made by Lender and then to interest due and last to principal due. 3. Borrower shall pay all general real estate taxes and special assessments against the property before the same become delinquent. 4. If Lender determines that any part of the property is subject to a lien, which is or may attain priority over this security instrument, Lender may give Borrower a notice identifying the lien and Borrower shall satisfy the lien within ten (10) days. 5. Borrower shall keep the improvements on said premises insured against loss by fire and hazards included within the term "extended coverage" for their insurable value and policies for the same shall include a standard mortgage clause showing Lender herein. In event of loss, Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be applied to restoration or repair of the property damaged, unless both parties otherwise agree, except if restoration or repair is not economically feasible or Lender's security is not lessened, otherwise said proceeds shall be paid on the debt herein, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any payments or proceeds from insurance shall not extend or postpone the due date of the annual payments provided in said note, or change the amount of the payments.