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<br />200604210
<br />
<br />which has the address of 3318 E SEEDLING MILE RD
<br />(Strut)
<br />
<br />GRAND ISLAND
<br />(City)
<br />
<br />Nebraska 68801
<br />(Zip C .d.1
<br />
<br />("Property Address"l;
<br />
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, eppurtenances, and fixtures
<br />now or hereafter a part of the property. All replacements and additions shall also be covered by this Sacurity Instrument. All of the
<br />foregoing is referred to in this Security Instrument es the "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 encumbrences of record. Borrower warrants and will defend generally the
<br />title to the Property ageinst all claims and demands, subject to eny encumbrances of record.
<br />
<br />Borrower and lender covenant and agree as follows:
<br />
<br />1. Payment of Principal and Interest; Prepayment and late Charges. Borrower shall promptly pay when due the principal
<br />of and interest on the debt evidenced by the Note and any prepayment and late cherges 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 />monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") for: (a) yearly taxes and assessments which may
<br />attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments or ground rents on the Property, if
<br />any; Ic) yearly hazard or property insurance premiums; Idl yearly flood insurance premiums, if any; (el yearly mortgage insurance
<br />premiums, if any; and (fl any sums payable by Borrower to lender, in accordance with the provisions of paragraph 8, in lieu of the
<br />payment of mortgage insurance premiums. These items are called "Escrow Items." lender may, at any time, collect end hold Funds in an
<br />amount not to exceed the maximum amount a lender for a federally related mortgege loen may require for Borrower's escrow account
<br />under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C. fj 2601 et seq. ("RESPA"l.
<br />unless another 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 />amount not to exceed the lesser amount. Lender may estimate the amount of Funds due on the basis of current data and reasonable
<br />estimates of expenditures of future Escrow Items or otherwise in accordance with applicable 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 lend ar 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, lander may require Borrower
<br />to pay a one.time charge for an independent real estate tex 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 interest or earnings on the Funds. Borrower and lender may agree in writing, however, 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 arepledgad 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 requiremants of applicable law. If the amount of the Funds held by lendar at any tima is not
<br />sufficiant to pay the Escrow Items when due, lender may so notify Borrowar in writing, and, in such case Borrower shall pay to lender
<br />tha amount necessary to make up the deficiency. BOfiowar shall makll lip the deficiancy in no more thlln twelve monthly payments, at
<br />lander's sola discretion.
<br />Upon payment in full of all sums secured by this Sacurity Instrument, Lender shall promptly refund to Borrower any Funds held by
<br />lender. If, under paragraph 21. lender shall acquire or sell the Property, lender, 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 ageinst 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 taxas, assessments. charges, finas 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 />Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments
<br />directly, Borrower shall promptly furnish to lender raceipts evidencing the payments.
<br />
<br />By initialing, I acknowledge this is page 2 of 7
<br />of the Deed of Trust.
<br />
<br />-t<L
<br />
<br />Initials
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<br />C-
<br />
<br />Ini1ials
<br />
<br />Initials
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<br />Initials
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<br />@ Ccpyrigh1 Compliance SvstBms, Int. H193, 1994. 1995, 18B7. 2004
<br />ITEM 121NEl2 104081 P,g.2.f 7
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<br />www.t'lImpliarlt:e:lySllilmS,CDm
<br />800.966.8522 f.. 616.858.1888
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