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240949239 TRANSFER ()H' I~IGII'1'S IN THE PROPERTY 'T'his Security instrument secures to Lender: (i) the repayment of the Loan, and all renewals, cxtcnsiotnti and tnodil'ications of the Notc; and (ii) the performance of Borrower's covenants and agreements under this Security lnstrutttent and the Note. For this purpose, Borrower irrevocably grants and conveys to `Trustee, in trust, with power of sale, the following described property located iu the ........................................................CQU.CITY................................................-......... of [Type of Recording Jurisdiction] HA.~I ....................................................................................... [Name of Recording Jurisdiction) Lot One 111, Jensen Acres Subdivision, Hall County, Nebraska which currently has the address of ........................ . ..................19488• W Schimmer Rd, , , , , , , , • • , • • • • • ............................. [Street] .... ...............Woad.River............................, Nebraska ...................$$.$$.~.................... (,.Property Address"): (City] [Zip Code] 'I'U(7E'1'IlER Wl'1'll 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 be covered by this Security Instrument, All. of the foregoing is referred to in this Security lustrument. 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 PropeRy is unencumbered, except for encumbrances of record. T3orrower warrants and will. defend geuera.lly the title to the Property against all claims a.nd demands, subject to any encumbrances of record. I'IIIS SECURITY INSTRUMENT combines uniforn covenants for national use and non-uniform. covenants with lnrtitcd variations by jurisdiction to cor7stitutc a uniform security instrutneut covering real properly. TJNiFOItM (',()VF,NAN'TS. 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 evidenced by the Note and any prepayrncnt charges and Late charges due under the Note. Borrower shall also pay funds for Escrow hems pursuant to Section 3. Payments due under the Noce and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to I.,ender unpaid, Lender may reyuire that. any or all subscyuent payments due under the Nal.e 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, hank check, treasurer's check or cashier's check, provided any such check is drawn upon a.rt irtslitutiou whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transl`cr. Payments a.re deemed received by Lender when received at. the location designated in the Note or at such other location as may he designated by Lender in accordance with the notice provisions in Section 1S, Leader tray return any payment or partial payment if [la.e payment or partial payments are insufficient to bring the Loau current. Lender may accept any payment or partial payment. insufficient. t.o 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 are accepted. If each Periodic Payment is applied as of its scheduled due dale, then Lender need not pay interest on unapplied funds. Lcndcr rttay hold such unapplied funds until Borrower makes payment to bring the Loan current. if Borrower does uoi. do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not. applied earlier, such foods will be applied to the outstanding principal balance under the Note inunediately prior to foreclosure. No offset or clairtt which Borrower might have now or in the future against Lender shall relieve Borrower from making paytneuts due under the Note and this Security lust.rutnent or performing the covenants and agreetrtents secured by this Security 1 ustrumeut. 2. Application of Payments or Proceeds. Taxcept as otherwise described in ibis Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Nate; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to cash Periodic 1'aymeut. in the order in which it became due. Auy remaining amounts shall be applied first. Io late charges, second to any other amounts due under this Security Irtstrutncnt, and then to reduce the principal balance ot'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 applied to the delinquent payment. and the late charge. If tmore than one Periodic Payment. is outstanding, )..ender 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 application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall. not extend or postpone the due date, or change the amount, of the Teriodic Payments. 3. Tends for Escrow Items. Borrower shall pay to Lender on the day Periodic I'ayrrrcnts are due under the Note, until the Note is paid iu full, a sutn (the "Foods") to provide for payment. of amounts due for: (a) taxes and assessments and other itctrts which ca.u at.taiu priority over this Security lust.rumeul. as a lieu or encumbraace on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) prerruums for any and all insurance required by T,ettdcr under Section 5; and (d) Mortgage insurance premiums, if arty, or any surt7s payable by Borrower to Lender in lieu of the payment. of Mortgage Insurance prerTtiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At. origination or at any tit7te during the teen of the I..,oart, ].,ender may require that Community Association Dues, Fees, and Assessments, if any, he escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Ttern. T3orrowcr shall promptly furnish to Lcndcr all notices of amounts to be paid under this Section. Borrower shall pay I.,cndcr the Fiends for Escrow Items unless Lender waives Borrower's obligation to pay the T'unds for any or all escrow Itcttas. Lcndcr tttay waive Borrower's obligation to pay to Louder Funds for any or all Escrow Items at any tune. Any such waiver may Duly be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the atnouut.s due for any Escrow Items for which payment cif Feuds has been waived by Lcndcr and, if Lcndcr requires, shag furnish to Lender receipts evidencing such payment within such time period as bender may require. T3orrawer's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant. and agreement contained in this Security Instrurncnt, as the phrase "covenant and agreement" is used in Section ). If Borrower is obligated to pay Escrow Items directly, pursuant to a. waiver, and Borrower NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3028 9/07 Bankers Systams, Inc„ St. Cloud, MN Farm MD-1-NE 8/17/2000 (page 2 of7pngec) •