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2q1008954 TIL4NS�ER OF RIGHTS IN THE PROP�RTY This Security lnstrtunent secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and tt�odifications of lhe Note; and (ii) the performance of Borrower's c[�venants and agreements under this Security instrument and lhe Not.e. For lhis purpose, Borrower irrevocably grauts and conveys to Trustee, in [rusC, with power of sale, the followin� described properiy localed in the .........................................................GOU.NTY.............. ............................................ of [Type of Fiacording Jurisdiction] �... �L .....................................................................: �Na�ne of Flecording Jurisdictionl LOT 26 GRAN� WEST SUBDI111510N TO THE CITY OF GRAN� ISLAND, HALL COl1NTY, NEBRASKA which currently hxs the address of ..............................................1411_ MANSFIELp.RQ................................................ �street) , ,,,,,, ...GRANp ISLANQ .............. . . ............................, NebrasKa ...................Bfl@OJ..................... ��Propert.y Address") fCity) [zip Code1 '1'(]GETH�R WITII all the iznprovemeuts now or hereafter erected on the �roperty, aud all easenients, xppurtenances, and fixtures now or hereafter a part of the property. All replacemepts and addit�ons sha11 also be covered by this Security lnstrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER (.OV�NANTS that Borrower is lawfully seised of thc estate hereby conveyed and has the right to granc and convey t.he Property and that the Property is unencurnbered, except for encumbrances of record. Borrower wxrrants and will defend generally the title ta the PropeRy against all clauns and deuiands, subject to any encumbrxnces of recard. THIS SEC:LJRITY INSTRUM�NT ec�rnbines unifarm covenants for national use and non-upiform covenants with li�nited varixtions by jurisdiction to cons�itute a unifnrm security instrument covering real praperty. iJNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Tnterest, Escrow Items, Prepayment Charges, and Late Charges. Bnrrower shall pay when due the principal of, and intcrest ou, the debt evidenced by �he Nate and any prepayment chargcs and late charges duc undcr the Note. Borrower shall also pay funds for Escrow Items pursuant to Sectiou 3. Payments due uuder the Nate and lhis Security instru�nent shall be rnade in U.S. currency. However, if any check or other instrurncnt receivcd by Lender as payment under the Note car this Security Inslrurnent is returned ta I.ender unpaid, Lender may require lhat any or all subseyuent paymenCS due under tlae Note aud this Security Instrument be m�ade in one or more of the fallowing forms, as selected by L,ender: (a) eash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whntie deposi�s are insured by a federal agency, instrumentality, or entity; �r (d) Electranic Funas Transfer. Paymen[s are deeined received by Lender when received at the location designaled in the Note or at such olher location as may be designxted by Lender in accordance wilh thc notice provisions in Section 15. Lender may return any payment or partial payrnent if t.he payinent or partial payments are insufficient to briag the Loan current. Leader may accept any payment or parlial payinent iusuff�cient lo bring the Loan current, without waiver of any rights hereunder or pre,�udice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the l'une such payinent�� are accepled. if each Periodic Payment is applied as of its scheduled due date, then Lendcr need nol pay iaterest on urktpplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the iaoan current. It �3orrower does not do so wiChin a reasonable period of tune, Lender shall either apply such funds or return them. to I3orrower. If not. applied carlier, sucl� funds will he applied to tlte outstanding principal balance under lhe Notc inunediately prior to foreclosurc. No offset or claun which Borrower rnight have now or in the future against I.ender shall relieve Borrower from making payments duc under tl�e Note and lhis Security Instrument or performing the covenant,s and agreements Secured by ll�iti Security instrument. 2. Application of Payments or Praceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interesl due uader the Note; (b) principal due under the Note; (c) anaounts dne under Section 3. Such paymcnts shall be apphed to each Periodic Payment �n the ordcr in which it became due. Any remaining ainounis shall be applied first to late charges, second to any other amounts due under this Securily Instrurnent, and then to reduce the principal balance of the Note. If Lender receives a payinent from Bprrower for a delinquent Periodic Paymcnt which includes a sufficient. unount to pay any lale cl�ar�e due, t.he payrnent may be applied to the delinquent payxnent and ihe late charge. If more than onc Periodic Payment is outstanding, Lendcr xnay apply any payznent received from Borrower w the repaymenl of the Periodic Paymen[s if, and to the extent. tl�t, each payment can be paid in fu11. To the extent that any excess exisls after the payment is applied to thc full payment. of one or more Periodic Payrnepts, such excess rnay he applied lo any late charges due. Voluntary prepaymeuts shall be applied first to any prepayment claarges and then as described in the Note. Any application of payments, iusurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due dat.e, or change the arnount, of the Periadic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payxrients a're due untler the Note, until the Note is paid in full, a sum (Che "Fuuds") to provide for payment of amounts due for: (a) taxes and assessmenls and other it.ems whicl� can attain priority over this Security Instrument as a lien or encumbrance on lhe Property; (h) leasehold payment5 or ground rents on che Property, if any; (c) premiurnti for any and all insurance required by Lender under Seclion S; aud (d) Mort�age Insurance preiniums, if any, or any sums payable by Borrower to Lender in lieu of thc payn�cnt of Mortgage insurance premiums iu accordanec with the provisions of Section 1(l. These items are called "Escrow items." At originalion or al any tirne during tbc terni of the Loan, Lender may require that. Communiry Associatioq Dues, Fees, and Assessments, if auy, be escrowed by Borrower, and such dues, fees and assessments shall be an �scrow Item. Borrower shall prnmptly furnish to Lender all notices of aniounCs lo be paid under this Section. Borrower shall pay Lender the Funds for Escrow ltems unless Lender waives Borrower'ti oNligadop to pay the Funds for any or all �scrow Items. �,ender may waive Borrower's obligation to pay tcy Lender Funds for any or all Escrow Iterns at any tirne. Any such waiver xnay only be in writin�. In �he event of such waiver, ]3orrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which paymenl of Nands has beeu waived by Lender and, if I,ender requires, shall furnish to Lender receipts evidencing snch payment within such lime period as Leader [nay require. I3orrower's obligation to make such payments and Co provide receipls skull for all purposes be deemed to be a covenant and agreemeut c�ntained in, this Security Instrument, as the phrasc "covcnant and agreement" is used in Section 9. lf Borrower is abligated to pay Escrow Items directly, pursuant to a waiver, ana Borrower NEBRASKA--Single Family—Fannie MaelFreddie Maa UNIFORM INSTRUMENT � Form 3028 7�07 Bankers SysYems, Inc., St. Cloud, MN Form MD-1-NE 6l17/2000 (pnge 2 of 7�mges) � R � �.