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to in this Security Instrument as the "Property." 200500058
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to granfand convey the Property
<br />and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property
<br />against all claims and demands, subject to any encumbrances of record.
<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.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal
<br />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
<br />funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency.
<br />However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender
<br />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
<br />following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided
<br />any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds
<br />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 payment
<br />or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan
<br />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
<br />obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date,
<br />then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan
<br />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
<br />applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
<br />which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this
<br />Security Instrument or performing the covenants and agreements secured by this Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender
<br />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
<br />3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first
<br />to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge
<br />due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may
<br />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.
<br />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
<br />applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone
<br />the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in
<br />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
<br />Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for
<br />any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to
<br />Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if
<br />any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all
<br />notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
<br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow
<br />Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the
<br />amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender
<br />receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide
<br />receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, 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 fails to pay the amount
<br />due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section
<br />9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance
<br />with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this
<br />Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under
<br />RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the
<br />basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if
<br />Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items
<br />no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make
<br />such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the
<br />Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance
<br />with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and
<br />Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly
<br />payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and
<br />Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly
<br />payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain
<br />priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and
<br />Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the
<br />payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b)
<br />contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent
<br />the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of
<br />the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is
<br />subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of
<br />the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4.
<br />Lender may require Borrower to pay a one -time charge for a real estate tax verification and/or reporting service used by Lender in
<br />connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by
<br />fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which
<br />Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender
<br />requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing
<br />the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised
<br />unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one -time charge for flood zone determination,
<br />certification and tracking services; or (b) a one -time charge for flood zone determination and certification services and subsequent charges each
<br />NEBRASKA - Single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 302841//001
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