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<br />200805131
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<br />authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated
<br />teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
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<br />(L) "Escrow Items" means those items that are described in Section 3.
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<br />(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than
<br />insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or
<br />other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the
<br />value and/or condition of the Property.
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<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
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<br />CO) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts
<br />under Section 3 ofthis Security Instrument.
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<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 V.S.C. ~ 2601 et seq.) and its implementing regulation, Regulation X
<br />(24 C.P.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the
<br />same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a
<br />"federally related mortgage loan" even ifthe Loan does not quality as a "federally related mortgage loan" under RESPA.
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<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed
<br />Borrower's obligations under the Note and/or this Security Instrument.
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<br />TRANSFER OF RIGHTS IN TIlE PROPERTY
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<br />This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications ofthe Note;
<br />and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the County of Hall:
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<br />Lot Fourteen (14), Castle Estates Subdivsion, Hall County, Nebraska
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<br />Parcel ID Number: 400202336
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<br />which currently has the address of: 4024 Regal Drive
<br />Grand Island, NEBRASKA 68803 ("Property Address"):
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<br />TOGETIIER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now
<br />or hereafter a part ofthe property. All replacements and additions shall also be covered by this Security Instrument. All ofthe foregoing is
<br />referred to in this Security Instrument as the "Property."
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<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the
<br />Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to
<br />the Property against all claims and demands, subject to any encumbrances of record.
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<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by
<br />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:
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<br />I. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the
<br />principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower
<br />shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in
<br />U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is
<br />returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be
<br />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
<br />check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be
<br />designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the
<br />payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to
<br />bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the
<br />future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes
<br />payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or
<br />return them to Borrower. Ifnot applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately
<br />prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making
<br />payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.
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<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by
<br />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
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<br />NEBRASKA -Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Page 2 of 9
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<br />Form 3028 1/01
<br />Borrower(s) Initials ~ T 5'
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<br />IDS, Inc.
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