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TRANSFER OF RIGHTS IN THE PROPERTY 20.0705 5.? O. This Security Instrument secures to Lender: (i) the repayment of the Loan, and all r.enewals? extensIOns and modlflcatlons,of the Note; and (ii) the performance of Borrower's covenants and agreel~lents under. thlS Secunty. Instnnnent. and t~e Note. ,For this purpose, Borrower irrevocably grants and conveys to Trustee, III trust, wlth power ot sale, the followmg descnb~d property located in the....,.......,.........,.,......................... .~E.GIS.nll.Of.O~.E.OS....:................................................ of [Type of Recording JUriSdiction] . Hfl~~.~QlJ.rHY...............................................................,...............: [Name of Recording J'Hisdiction] LOT THREE (31 IN PLEASANT VIEW THIRTEENTH SUBDIVISION IN THE CITY OF GRANO ISLAND, HALL COUNTY, NEBRASKA which currenLly has the address of ............................................... .~7H.~Wm~r................................................. [Street] ........ _............... _ .~.~~~.Q !~~~.fojP..........................., Nebraska................... ~MOJ..................... ("Property Address"): [City[ [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacelllents and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instl'llIllent as the" Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Properly aud that the Property is unencumbered, except for encuIllbrances of record. Borrower warrants and will defend generally the tiLle to the ProperlY against all claillls and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT comhines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitulc a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: I. Payment of Principal, Interest, Escrow Hems, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under thc Note_ Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Set:urity Instrulnent shall be made in U.S. currency. Howevcr, if any check or other instrument received by Lender as payment under the Notc or this Security Instrument is returned to Lender unpaid, Lender llIay require thal any or all subsel.\uent payments due under the Note and this Security Instrument be made in olle or more of the following forms, as selected by Lendcr: (a) cash; (ll) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality, or entity; or (d) Electronic Punds Transfer. Payments are deemed received by Lender wheJl received at the location designated in the Note or at such other location as may be desiguated by Lender in accordance with lhe Jlotice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring Ihe Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, hut Lender is not obligated to apply such payments at the time such payments arc accepted. If each Periodic Payment is applied as of its scheduled due date, then Lemler need not pay interest on unapplied funds. Lemler may hold sut:h unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does 1I0t do so within a reasonable period of time, Lender shall either apply stKh funds or return them to Borrower. If not applied earlier, sut:h funds will be applied to the outstanding principal balance under (he Note immediately prior to foreclosure. No offset or claim which Borrower Inight have now or in the future against Lender shall relieve Borrower from making payments due under the Nole and this Securily lnstnllnent or performing the covenants ami agreements secured by this Seeurily Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lemler shall be applied in the following order of priority: (a) interest due under the Note; (h) principal due under the Note; (c) amounts due under Section 3. Such payments shall he applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reducc the principal balance of the Note. H Lcnder receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may he apptied to the delinquent payment and the late charge. If more than one Periodic Payrnellt is olltstanding, Lender llIay apply any payment received from Borrower to the repayment of lhe Periodic Payments if, 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 full payment of one or more Periodic Payments, sut:h exct:ss may he applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurant:e proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or t:hange the amount, of the Periodic Payments. 3. Fuuds for Escrow Hems. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or enullnbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Set:tioll 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiullls in acwrdance with the provisions of Section IO. These items are called "Escrow Items." At origination or at any time during the terIll of the Loan, I,ender may require that Community. Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessnlents shall be an Escrow Item. Borrower shall promptly furnish to Lender all notict:s of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lendt:r Funds for any or all Escrow Hems at any time. Any SUdl waivt:r may only be in writing. In the evcnt of such waiver, Borrower shall pay diret:tly, when and where payable, the amounts due for any Escrow Hems for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender ret:eipts evidencing such payment within such time period as Lender may requirt:, Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Est:fow Items directly, pursuant to a waiver, and Borrower NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 Ilonkers Systems, Inc" SI. Cloud. MN ~Qllli MO.I NE 8117/2000 (page 2 of 7 page>)