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200706393 Loan No: 070711007 Data ID: 271 which currently has the address of 639 JOEHNCK ROAD, [Street] GRAND ISLAND, NEBRASKA tCity] 6K801 [lip Code] ("Property Address"): TOGETHER WITH all the improvements now or hcreafter erected On the property, and all easements, appurtenances, and fixtures now ur hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the fortlgoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees rhat MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) ]1<IS the right; to exercise any or all of those interests, including, but not limitcd to, the right to foreclose and sell the Property: and to take any action required of Lender induding, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby eonveycd and has the right to grant and convey the Property and that the Property is uncncumbered, cxccpt for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, suhjeet to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non'uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real pnlperty. UNIFORM COVENANTS. Borrower and Lender covcnant and agree as follows: I. I'ayment of' I'rindpal, Interest, Escrow Items, 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 the Note. Borrower shall also pay funds for Escrow Hems pursuant to Section 3. P<lymcnts due under the Note and this Security Instrument shall be made in U.S. currenc')'_ ] lowever, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order: (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon <In institution whose deposits are insured by a federal agency, instrumentality, or entity: or (d) Electronic Funds Transfer. Payments arc deemed received by Lender when received at the location designated in the Note or at such other location as may be designatcU by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments arc insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments arc accepted. ]f each Periodic Payment is applied as of its scheduled due date, then Lender necU not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower docs not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will bc applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender s]1<I1I relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Applicatioll of Payments or I'....eeeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note: (c) amounts due under Section 3. Such p<lyments shall be 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 reduce the principal balance of the Note. ]f Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the 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, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any applic<ltion of payments, insurance proceeds, Of Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 (Pege 3 of 11 Pages) 11111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 P+007071 1 007 +9407 +03+11 +NECNVADT R 5' #~