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TRANSFER OF RIGHTS IN THE PROPERTY This Seeurity Instrwnent secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the perfonnanee of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the........................................................ .Cp.l/lJty........................................................... of [Type of Recording Jurisdiction] 200901393 .Hl:lII................. [Name of Recording Jurisdiction) ,.....................................................".. Wood River Village Maccoll & Leflangs' Add Lts 4 & 5 Blk4 whieh currently has the address of ............................................... J.Q 7J.~~Pt~. $.t. .. (Street) . . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . . . . . . . . . . ........................... YV.o.Q~.~.iV~.r............................, Nebraska.................. .68.a8.3.................... ("Property Address"): (City) [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and aU easements, appurtenances, and fixtures now or hereafter a part or the property. All replacements and additions shall also be covered hy this Security Instrument. All of the foregoing is referred to in this Security Instrwnent as the" Property. " BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encwnbrances of record. Horrower warrants and will derend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a unifonn seeurity instrwnent covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evideneed hy 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. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrwnent 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 fonns, as selected by Lender: (a) cash; (b) money order; (c) certified check, hank check, treasurer's check or cashier's check, provided any such check is drawn UP(lll an iilstitution whose- deposits are-iilsured bya federal agency, instrUmentality, or entity;-or ~d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated hy Lender in accordance with the notice provisions in Section 15. Lender may return any payment or panial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to hring 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 are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lcnder need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes 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 return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note il1Illlediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against I "ender shall relicve Borrower from making payments due under the Note and this Security Instrument or perfonning the covenants and agreements secured by this Security Instrument. 2, Applieation of Payments or Pl'oceeds, Except as otherwise describcd in this Section 2, all payulents accepted and applied by Lender shall he applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) mnounts due under Section 3. Such payments shall be applied to each Periodic Payment ill 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 Instrwnent, and thcn to reduce the principal balance of the Notc. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge dUe, the payulCnt may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any paymcnt 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 paymcnt 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 application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or pestpone the due date, or change the mnount, of tl1(; Pcrimlic Payments. 3. Funds for Escrow Items. Borrower shall pay to I "ender 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 Instrwllent as a lien or encumbrance on thc Property; (b) leasehold payments or ground rents on the Property, if any; (c) prcmiwns for any and all insurance required hy Lender under Section 5; and (d) Mortgage Insurance premiwlls, if any, or any swns payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items arc called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that ComlIlunity Association Dues, Fees, and Assessments, if any, be escrowed hy Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to I _ender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's ohligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's ohligation to pay to Lender Funds for any or all Escrow Items at any time. AllY such waiver may only be in writing. In lhe event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lcnder and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time pcriod as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be dccmed \0 bc a covenant and agreement contained in this Security Instrument, as the phrase "covena and agreement" is used in Section 9. If Borrower is ohligated to pay Escrow Items directly, pursuant to a waiver, and B rr er NEBRASKA-Single F'lmily-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3 (pafie 2of7pafie.<) ~ Bankers Systams, Inc., St. Cloud, MN Form MD-' NE 8/17/2000