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<br />200603858
<br />
<br />which has the address of 4130 WEST FAIDLEY AVENUE
<br />(Slrull
<br />
<br />GRAND ISLAND
<br />ICilVI
<br />
<br />Nebraska 68803
<br />(Zip C odDI
<br />
<br />("Property Address");
<br />
<br />TOGETHER WITH all the improvoments now or hereafter erected on the property, and all easements, appurtenances, and fixtures
<br />now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the
<br />foregoing is referred to in this Security Instrumont as tho "Property."
<br />
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the
<br />Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the
<br />title to tho Proporty against all claims and demands, subject to any encumbrances of rocord.
<br />
<br />Borrower and lender covonant and agree as follows:
<br />
<br />1. Paymant of Principal and Intorost; Propaymont and lata Chargas. Borrower shall promptly pay when due the principal
<br />of and interest on the debt evidenced by the Note and any prepayment and late charges due undor the Note.
<br />
<br />2. Funds for laxus and Insuranca. At lender's request and subject to applicable law, Borrowor shall pay to lender on the day
<br />monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") for: (al yearly taxes and assessments which may
<br />attein priority over this Security Instrumont as a lien on the Property; (b) yearly leasehold payments or ground ronts on the Property, if
<br />any; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums, if any; (el yearly mortgage insurance
<br />premiums, if any; and (f) any sums payable by Borrower to lender, in accordance with the provisions of paragraph 8, in liou of tho
<br />payment of mortgage insurance premiums. These items are called "Escrow Items," lender may, at any time, collect and hold Funds in an
<br />amount not to exceed the maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow account
<br />under the federal Real Estate Settlement Procedures Act of 1974 es emended from time to time, 12 U.S.C. S 2601 et seq. ("RESPA''l.
<br />unless another applicable law that applies to the Funds sets a losser amount. If so, lender may, at any time, collect and hold Funds in an
<br />amount not to exceed the lesser amount. lender may estimate the amount of Funds due on the basis of current data and reasonable
<br />estimatos of expondituros of future Escrow Items or otherwise in accordance with applicablo law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including lender,
<br />if lender is such an institution) or in any Federal Home loan Bank. lender shall apply the Funds to pay the Escrow Items. lender may not
<br />charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless lender
<br />pays Borrower interest on the Funds and applicable law permits lender to make such a charge. However, lender may require Borrower
<br />to pay a one. time charge for an independent real estate tax reporting service used by lender in connection with this loan, unless
<br />applicable law provides otherwise. Unless an agreement is made or applicable law requires interest to be paid, lender shall not be
<br />required to pay Borrower any intarest or earnings on the Funds. Borrower and lender may agree in writing, howaver, that interest shall
<br />be paid on the Funds. lender shall give to Borrower, without charge, an annual accounting of the Funds, showing credits and debits to
<br />the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for all sums secured
<br />by this Security Instrument.
<br />If the Funds held by lender exceed the amounts permitted to be held by applicable law, lender shall account to Borrower for the
<br />excess Funds in accordance with the requirements of applicablo law. If the amount of the Funds held by lender at any time is not
<br />sufficiont to pay the Escrow Items when due, lender may so notify Borrower in writing, and, in such case Borrower shall pay to lender
<br />the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve monthly payments, at
<br />lender's sole discretion.
<br />Upon payment in full of all sums secured by this Security Instrument, lender shall promptly refund to Borrower any Funds held by
<br />lender. If, under paragraph 21, lender shall acquire or sell the Property, londer, prior to the acquisition or sale of the Property, shall
<br />apply any Funds held by lender at the time of acquisition or sale as a credit against the sums secured by this Security Instrument.
<br />
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by lender under paragraphs 1
<br />and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payable under paragraph 2; third, to
<br />interest due; fourth, to principal due; and last, to any late charges due under the Note.
<br />
<br />4. Charges; Liens, Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which
<br />may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in
<br />the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment.
<br />Borrowor shall promptly furnish to lender all notices of amounts to bo paid under this paragraph. If Borrower makes these payments
<br />directly, Borrower shall promptly furnish to lender receipts evidencing the payments.
<br />
<br />By initialing, I acknowledge this is page 2 of 7
<br />of the Deed of Trust.
<br />
<br />@ Copyrioht Compli.." Sy."m..I.c_ 1903. 1094. 1995. 1997.2004
<br />ITEM 121 NEl2 104091 P'O' 2 017
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<br />
<br />Initials
<br />
<br />Initials
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<br />Wlww.complilnclsystlms.cam
<br />900.999.9522 F.. 919.959.1999
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