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<br />200604179
<br />
<br />which has the address of 2763 0 FLANNAGAN S T
<br />(Strut)
<br />
<br />GRAND ISLAND
<br />ICityl
<br />
<br />Nebraska 68803
<br />(Zip CDdel
<br />
<br />("Property Address"l;
<br />
<br />TOGETHER WITH ell the improvements now or hereefter 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 Instrument as the "Property."
<br />
<br />BORROWER COVENANTS that Borrower is lewfully seised of the estate hereby conveyed and has the right to grant and convey the
<br />Property end that the Property is unencumbered, except for encumbrances Df recDrd. Borrower warrants and will defend generally the
<br />title to the Property against ell claims and demands, subject to any encumbrances of record.
<br />
<br />BDrrower and lender covenant end agree as fDIIDws:
<br />
<br />1. Payment of Principal and Intarest: Prepayment and Late Chargn. BonDwaf shall prDmptlypay when due the principal
<br />of and interest Dn the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />
<br />2. Funds for Taxes and Insurance. At lender's request and subject to applicable law, Borrower shall pay to lender on the day
<br />mDnthly payments are due under tha Note, until the NDte is paid in full, a sum ("Funds") for: la) yearly taxes and assessments which may
<br />attain priority over this Security Instrument as a lien on the PrDperty; (bl yearly leasehold payments or ground rents on the Property, if
<br />any; Ic) yearly hazard or prDperty insurance premiums; ldl yearly flood insurance premiums, if any; (e) yearly mDrtgage insurance
<br />premiums, if any; and If! any sums payable by Borrower to lender, in accDrdance with the provisiDns Df paragraph B, in lieu of the
<br />payment of mDrtgage insurance premiums. These items are called "Escrow Items." lender may, at any time, collect and hDld Funds in an
<br />amount not to exceed the maximum amount a lender for a federally related mortgage loan may require fDr Borrower's escrow account
<br />under the federal Real Estate Settlement Procedures Act Df 1974 as amended from time to time. 12 U.S.C. ~ 2601 et seq. ("RESPA"),
<br />unless anDther applicable law that applies to the Funds sets a lesser amount. If so, lender may, at any time, collect and hold Funds in an
<br />amDunt not to exceed the lesser amount. lender may estimate the amDunt Df Funds due on the basis Df current data and reasonable
<br />estimates of expenditures Df future Escrow Items or otherwise in accordance with applicable law.
<br />The Funds shall be held in an institutiDn whose deposits are insured by a federal agency, instrumentality, or entity (including lender,
<br />if lender is such an institution I or in any Federel Home loan Bank. lender shall apply the Funds to pay the Escrow Items. lender may nDt
<br />charge BorrDwer fDr holding and applying the Funds, annually analyzing the escrow account, Dr verifying the Escrow Items, unless lender
<br />pays BorrDwer interest on the Funds and applicable law permits lender to make such a charge. However, lender may require BDrrDwer
<br />to pay a one.time charge for an independent real estate tax repDrting 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 interest or earnings Dn the Funds. Borrower and lender may agree in writing, hDwever, 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 fDr 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 aCCDunt tD Borrower fDr the
<br />excess Funds in eccordance with the requirements Df applicable law. If the amDunt of the Funds held by lender at eny time is nDt
<br />sufficient to pay the Escrow Items when due, lender may SD notify BDrrower in writing, and, in such case Borrower shall pay to lender
<br />tha amount necessary tD make up the deficiency. Borrower shall make up the deficiency in nD mDre than twelve monthly payments, at
<br />lender's SDle discretion.
<br />UpDn payment in full Df all sums secured by this Security Instrument, lender shall promptly refund tD Borrower any Funds held by
<br />lender. If, under paragraph 21, lender shall acquire Dr sell tha Property, lender, prior to the acquisitiDn Dr sale of the Property. shall
<br />apply eny Funds held by lender at the time Df acquisitiDn Dr sale as a credit against tha sums secured by this Security Instrument.
<br />
<br />3. Applicatien of Payments. Unless applicabla law prDvides otherwise, all payments received by lender under paragraphs 1
<br />and 2 shall be epplied: first, to any prepayment charges due under the Note; secDnd, tD amounts payabla under paragraph 2; third, tD
<br />interest due; fourth, to principal due; and last, tD any late charges due under the NDte.
<br />
<br />4. Charges; liens. Borrower shall pay ell taxes, assessments, charges, fines and impositiDns attributable to tha Property which
<br />may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligatiDns in
<br />the manner provided in paragraph 2. or if not paid in that manner, BorrDwer shall pay them on time directly tD the person owed payment.
<br />Borrower shall promptly furnish tD lender all notices Df amDunts to be paid under this paragraph. If Borrower makes these payments
<br />diractly, BDrrower shall promptly furnish to lender receipts evidencing tha payments.
<br />
<br />By initialing, I acknowledge this is page 2 of 7
<br />of the Deed of Trust.
<br />
<br />@ Gopyriohl Gomplion" Sy".m,.lnc. 1993. 1094. 1995. 1997. 2004
<br />ITEM 121NEl2 104011 P,g.2 017
<br />
<br />Initials
<br />
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