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<br />200602904
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<br />TRANSFER or RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of
<br />the Note; and (ii) the perfonnanee 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. . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..... . . . . . . . . . . . . . .CP.tlOty... . . . . . . . . . . . . . . . . . . . ...
<br /> . . . .. . . . . . . . . . . . . . . . , . . . . . . . . . . . .. of
<br />[Type of Recording Jurisdiction)
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<br />.Hal!........... .......... ..................................... ......................... .....:
<br />[Name of Recording Jurisdiction]
<br />The East 1/2 of the East 112 and the Southwest 114 of the Northeast 1/4 of Section 16, Township 11 North, Range 12 West of the 6th
<br />P.M., Hall County, Nebraska.
<br />
<br />which currenHy has the address of ............................................. .42.2.I~1. M~G!l.ir~. ~.~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
<br /> . . . .
<br />IStreet!
<br />
<br />. . . . . . . . . . . . . . . . . . . .. . . . . . . yy !l.l!~. ~.iV~r. . . . . . . . . . . . . .. . . . . . . . . . . . . ., Nebraska ...................68.88.3....................
<br /> ( " Property Address"):
<br />ICity) [Zip COde]
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<br />TOGETHER W IT II all the improvements now or hereafter erected on the property, and all easements, appurtenances,
<br />and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security
<br />Instrument. All of the foregoing is referred to in this Security Instrument as the" Property. "
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<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 thc Property against all claims and demands, subject to any encumbrances of record.
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<br />THIS SECURITY INSTRUMENT combines unifonll covenants for national use and non-unifonn covenants with limited
<br />variations by jurisdiction to constitute a unifonn security instrument covering real property.
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<br />UNTPORM 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 and 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 I nstrument shall be made in U. S. currency. However, if any check or other instrument 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 fonns, 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 (d) Electronic
<br />runds Transfer.
<br />Payments are deemed 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 Paymcnt is applied as of its scheduled due date, then Lender need not pay interest on
<br />unapplied funds. Lender may hold such unapplied funds until norrower makes payment to bring the Loan current. If Borrower
<br />does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not
<br />applied earlier, such funds 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 Instrwllent or perfonning 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 due 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 />beCatlle 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 atllOUnt 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 o[ 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, insurance proceeds, Of 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 Lcnder on the day Periodic Payments are due under the Note, until
<br />the Note is paid in full, a sum (the "Punds") to provide for payment of amounts due for: (a) taxes and assessments and other
<br />items which can attain priority o~er this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments
<br />or ground rents 'on the, P~operty: .if any; (c) premiums for any and all insurance required by Lender under Scction 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 premiums in accordance with the provisions of Section 10. These items 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 shall 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 Funds 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 Items 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
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<br />NEBRASKA-Sing[e Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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<br />Form 3028 1/01
<br />(palle 2 of 7 pages) 1. (JV" "')
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<br />Bankors Systoms.lnc., St. Cloud. MN Form MD-1-NE 811712000
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