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20ooo77s4 TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (I) the repayment of the Lean, and all renewals, extensions and modifications of the Note; and (u) the performance of Borrower's covenants and agreements under this Seourtty Instrument and the Note. For this he ose, Borrower irrevocably grants aTd conveys to Trustee, in (rust, with power of sale, the lollowing described prop®rty located in ype o ecor mg uns action erne o eco ing urs c ion LOT 6, UlA MILAND SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA AND LDT 13. IN WESTWDDD PARK FOURTH SUBDIVISION. TN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA. which currently has the address of 2 9 3 4 VIA M I L A N O/ 6 l} 4 F L E E T W 0 0 6 rest GRAND ISLAND ,Nebraska 6 8 8 0 3 ("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 replacements and additions shall also a covered by this Securfty Instrument. All of the foregoing is referred to In this Seourdy Instrument as the "Property." BORROW ER COVENANTS that 8orrowsr is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Prop®rty is unencumbered, except for encumbranoes of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. TH15 SECURITY INSTRUMENT combines uniform covenants far national use and non-uniform covenants with limited variations by jurisdiction to constitute a un'rform securRy instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrcw Items, Prepayment Charges, and Late Charrgges. Borrower shoo pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges andlate charges due under the Note. Borrower shall alsD pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U. currency. However, K any check ar 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 selevted by Lender: (a) cash; (b) money order, (c) certified check, bank check, treasurer's check or cashiers check, provided any such check is drawn upon an mstRution whose deposits are insured by a fgideral agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when rece'Ned at the location desiggnated in the Note or at such other location as may be designated by Lender In acvordance with the notice 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. Lander may accept any payment or partial payment insufflcigint to bang the Loan current, wfthout waiver of any rights hereunder or prejudice to tts rights to refuse such pa ment or partial payments in the future, but Lender is not obligated to apply such pa manta at the Ume such payments are acrepfed. li each Periodic Payment is applied as of its scheduled due date, then Lender need not pa interest on unapplied funds. Lend®r may hold such un~pplied funds until Bon•ower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall ®ithgir apply such funds or return them to Borrower. Ii not applied earlier, such funds will be applied to the outstanding principal balance underthe Nota immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Nota dnd this Security Instrument or performing the oavenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds, Except as otherwise desoribed in this Secticn 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) Interest due underthe Note; (b) principal du® under the Note; (ol amounts du® under Section 3. Such payments shall be applied to each Periodic Payment In the order in which It became due. Arty remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and than to reduce the principal balance of the Note. If 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 appii®d to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lend®r may apply any payment received from Bcrrowar 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 ba appiied tv any late charges due. Voluntary prepayments shall ba 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 postpene the due date, or change the amount, of the Periodic Payments. 3. Funds tar Escrow Items. 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 SecurRy Instrument as a Ilan or encumbrance vn the Property (b leasehDld pa manta or ground rents on the Property, 'rf any; (o) premiums for an and all insurance required by Lender under ~ecticn 5; and (d) Mortgage Insurance premiums, it any, or any sums ppayaL-le by 8orrowsr to L®nder in lieu of the payment of Mortgage Insurance premiums in avoordanoe with the provisions of Section 10. These ttems are called "Escrow {isms." At origination or at any time during the term of the Loan, L®nder may require that Communityy Association Dues, Fees, and Assessments, tf any, be escrowed by evrrvwer, and such dues, fees and assessments shall be an Escrow Item. 8orrowsr shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lander waives Borrower's obligation to pay the Ponds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lander Funds for any or all Escrow Items at any Ume. Any such waiver may onfy be in wrRing. In the event of such waiver, Borrower shall pay directly, when and where pa abl®, the amounts due for any Escrow Iltems far which payment of Funds has been waived by Lender and, ff Lander requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to pe a covenant and agregiment contained in this Security Instrument, as the phrase "covenant and agreement" is used in S®ctlon 9. If Borrower is obligated to pay Escrow Items directlyy, pursuant to a waivgir, and Borrower faits to pay the amount due for an Escrow Item, Lender may exercise Its rights under Section 9 and pay such amount and Borrewgir shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as fo any or all Escrow Items at any time by d notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay tv Lender alt Funds, and in such amounts, that are then required under this Section 3. Lender mayy, at any time, collect and hold Funds h an amount (a) sufficient to permit Lender to apply the Funds at the lima specified under RESPA, and (b) not to exceed the maximum amount a lender can requre under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or othervvise in acoordance with Applicable Law. NEBRASKA-ample Famlry..F.nnie M.a~Fnddie Mac UNIFDRM tNSTRUMEN7 PORM 2028 tlt/07 (page 2 e17 p.gae)