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<br />200703831
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<br />THANSFER OF RIGHTS IN 'llIE 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 the Note. For
<br />this purpose, Borrower irrevocably grants and conveys to Trustee, in trust., with power of sale, the following described
<br />
<br />property !ocared in the -. - . . . . . . . . . . . . . . . . - . . . . . . . . . . .. . - . . . . . . . . . . . . .. . . . . . . . . .CPJlOty. . . . . . . . . . . . . . . . . . . . ..
<br /> _ . . . . . . . . . . _ . . . . . . . . . . . . . . . . . . . _ . . . .. of
<br />!Type of Recording Jurisdiction]
<br />
<br />.HIIII..............__..........................................................._............:
<br />[Name of Recording Jurisdiction)
<br />Lots Ten 1101, Eleven 111) and Twelve (12) in Block Twenty-Three (231 in Mac Coli and leFlang's Addition to the Town of Wood River, Hall
<br />County, Nebraska.
<br />
<br />which currently has the address of ................................ ............. )_QfJ.i!~t.~H!l!!.t... . . . . . . . . .. .
<br />[Street]
<br />
<br />............. -. -.......... .W9.Q~.~jy!!r..........................., Nebraska................. ..Q8.a8.3.................... ("Propcny Address"):
<br />[City] (Zip Code)
<br />
<br />'fOGETI-IER WiTH all the improvements now or hereafter erected on the property, and all casements, appurtenances,
<br />and fixtures now or hereafter a part of the propert.y. All replacements and additions shall also he covered by this Security
<br />Instrument. All of the foregoing is referred to in t.his Security Instrument as the "Property."
<br />
<br />BORROWER COVENANTS thaL 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, excepl for encumbrances of record. Borrower warrants and
<br />will defend generally Ihe liUe to the Property against all claims and demands, subject 10 any encumbrances of record.
<br />
<br />TlIIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-uniform covenants with limited
<br />variations by jurisdiction to constitute a unifonn security instrument covering real property.
<br />
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Pl'epayment Chat'ges, and Late Chat'ges, 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 hems pursuant to Section 3. Payments due under the Note and this
<br />Security Instrument shall be made in U.S. cnrrency. However, if any check or other instrument received by Lender as payment
<br />under the Note or this Security Instrument is returned 10 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 chcck, treasurer's check or cashier's check, provided any such
<br />check is drawn upon an institution whose deposits arc insured by a federal agency, instrwllentality, or entity; or (d) Electronic
<br />Funds Transfer.
<br />Payments arc deemed received by Lender when received at the location dcsignated in the Note or at such olher location
<br />as may he 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 arc insufficient to bring the Loan currcnt. 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 paymcnts in the future, but Lender is not obligated to apply such payments at thc time sucb
<br />payments are accepted. If cach Periodic Payment is applied as of its scheduled duc 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 reasonable period of lime, Lcnder 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 immediatcly 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 />paymcnts due under thc Note and this Security Instrwncnt or perfofllling the covenants and agreements secured by this Security
<br />Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise describcd in this Section 2, all paymcnts 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 />became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due undcr 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 Pcriodic 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 morc Periodic Payments, such excess may bc applied to any late charges due. Voluntary prepayments
<br />shall be applied first to any prepayment charges and then as descrihed in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal duc under the Note shall not
<br />extend or postpone the due date, or change the amount, of Ihe Pcriodic Payments. ---- -
<br />3, Funds for EsCl'OW Items, Borrowcr shall pay to Lender on the day Periodic Payments are due under the Note, until
<br />thc Note is paid in full, a sum (the "Punds ") to provide for payment of amounts due for: (a) (axes and assessments and other
<br />irems 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 hy Lender under Section 5; and (d)
<br />Mortgage Insurance prcmiums, 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 tcnn of the Loan, Lender may require that Community Associatioll Dues, Fees, and Assessments, if any,
<br />be escrowed by Borrower, and such dues, fees and assessments shall bc an Escrow Item. Borrower shall promptly furnish La
<br />Lender all notices of amounts to be paid under this Scction. 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 hy Lender and, jf Lender requires, shall furnish to Lender receipts evidencing such payment within
<br />such time period as Lender may require. Borrower's ohligation to make such payments and to provide rcceipts shall for all
<br />purposes be deemed to be a covenant and agreement contained in Ihis Security Instrwnent, 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-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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<br />/J norm 3028 1101
<br />(page 20f7pageS)~ } (t.JJ
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<br />Bank." System',lnc" St_ Cloud, MN Form MD1-NE 811712000
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