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<br />200610925
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<br />TRANSFER OF RIGHTS IN TI-IB 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 perfonnance of Borrower's covenants and agreements under this Security Instrument and thc Note. For
<br />this purpose, Borrower irrevocahly grants and conveys to Trustee, in trust, with power of sale, the following described
<br />property located in the.. . . . . . . . .. . . . . . .. . . . . . .. . . .. . . . . . . . . ... . . . . . . .. . . . . . . . . c.oIJ.rn.Y. .. . . .. . . .. . . . . . . . . .. . . . .
<br /> . . . . . . . . . . .. . . . . . .. . . . . . . . . . . . . .. of
<br />(Type of Recording Jurisdiction]
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<br />.H4lL........... ........................................................ ........... .........:
<br />(Name of Recording Jurisdiction!
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<br />THE NORTH FIFTY FOUR (N54) FEET OF LOTS NINE (9) AND TEN (10) IN BLOCK THIRTY FIVE (35), CHARLES WASMER'S ADDITION TO THE CITY OF
<br />GRAND ISLAND, HALL COUNTY. NEBRASKA.
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<br />which currently has the address of ........ '.' . . . . . . . . . . . .... . . . . . . . . . . . . . . . ~.1~. ~.QV.1:~. MPN~.Q~. ~.1:~~.E.T. . . . . . . . . . . . . . . . . . . . .
<br /> . . . . . . . . . . . . . . . . . . . . .
<br />[Street!
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<br />......................... A~~.I\I~ !~.L.4rJ.Q............ ..:............, Nebraska.................. .6a.aO.1..................... ("Property Address"):
<br />(City] [Zip Code!
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<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,
<br />and fixtures now or hereafter a part of tIaid property. All replacements and additions shall also be covered by this Security
<br />Instrument. All of the foregoing is referred t6 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 Jor encumbrances of record. Borrower warrants and
<br />will defend generally the title to the Property against all claims and demands, suhject to any encumbrances of record.
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<br />THIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-uniforn! covenants with limited
<br />variations by jurisdiction to constitute a uniform security instrument covering real property.
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<br />UNIFORM 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 tbe Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this
<br />Security Instrument 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 />a ments due under the Note and this Sec.urit Instrumenl be made in one or more of ilie following .!~rms. as selected by
<br />LeIIU ., , , 1\.," \.. ~ l,; \,;, 1 C a "-
<br />check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic
<br />Funds Transfer.
<br />Payments are deemed received by Lender when reccived 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 hring 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 arc accepted. If each Periodic Payment 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 Borrower makes payment to bring the Loan current. If Borrower
<br />does not do so within a reasonahle peri04:f'jllf time, Lender shall either apply such funds or return tbem to Borrower. If not
<br />applied earlier, such funds will be applied~q.Jhe outstanding principal halanceunder the Note immediately prior to foreclosure.
<br />No offset or claim which Borrower migb~4i<have now or in the future against Lender shall relieve Borrower from making
<br />payments due under the Note and this Secu.rit,y Instrument or performing the covenants and agreements secured by this Security
<br />Instrument. ..} ;.
<br />2. Application of Payments orProc;eeds. Except as otherwise described in this Section 2, all payments accepted and
<br />applied hy Lender shall be applied in the f!>nowing 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 he applied to each Periodic Payment in the order in which it
<br />became 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 amount 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 of 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 tl!~}~l"Qtq.__ .._ _ .
<br />--------Anyapplieation of -payments, insurance prLlceeds, or Miscellaneous Proceeds to principal due under the Note shall not
<br />extend or postpone the due date, or change the amount, of thc Pcriodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments arc due under the Note, until
<br />the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessmcnts and other
<br />items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments
<br />or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d)
<br />Mortgage Insurance premiums, if any, or any sums payahle hy Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items arc called "Escrow Items." At origination or
<br />at any time during the term of the Loan, Lender may require that Conununity 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.md where payable, the <tmounts due for any Escrow Items for whichpaymenl of
<br />Funds has been waived by Lender and, if:.ender requires, shall furnish to Lender receipts evidencing such payment within
<br />such time period as Lender may require. Ih)[[ower's obligation to make such payments and to provide receipts shall for all
<br />purposes he 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 BorrO\/er is ohligated to pay Escrow Items directly, pursuant to a waiver, and Borrower
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<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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<br />Form 3028 1/01
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<br />(page 2 of 7 pages) '. r' Jc.; f\'''-f
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<br />Bankors Systoms, Ino.. St, Cloud. MN Form MD-'.NE 8/17/2000
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