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TRANSFER OF RIGHTS IN THE PR�PERTY � 0 � O O J� 5 U This Securiry Instrurnent secures to Lender: (i) the repayment of the I,oan, and all renewals, extensions and rnodifications of the Note; and (ii) the performance 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 follovving described propenylocated in the ............................................ ........CAU�Iy........................................................... of IType of Recording JurisdictionJ Hall................................. . ........ ... ................................ [Name of Recording Jurisdiction� lots 7,8, antl 9, Block 21, MacColls and LeFlange's Atltlition ta the Village of Wood River, Hall County, Nebraska. which currently has the address af ............. ...... 304,E,3rd, Stree�................................................ ........................... ... [street� .............:.............WQ4d.River.... ........., Nebraska .................. �8.85�.................... ("Property Address") [Gity� ............... �Zip Codel TOGETHER WITH all the rrnpravements now ar hereafter erected on the property, and all easemeuCs, appurtenances, aud fixtures now ar hereafter a part of the property. All replacements and additions shall also be covered by this Securiry Tnstrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully scised of the estate hereby conveyed and has the right to grant and convey the Property aud that the Properry is unencurnbered, except for eucumbrances of record. Borrower warrants aud w'rll defend geaerally the title to the Property against all claims and demands, subject to auy encurnbrances of record. TH15 SECURITY 1NSTRUMENT combines unifarm covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrwnent covering real property. UNTFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment C6arges, and Late Charges. Borrower shall pay when due the priucipal of, and interest on, the debt evidenced by the Note and any prepayment charges aud late charges due uuder the Note, Borrower shall also pay funds for Escrow Iterns pursuant to Sectiou 3. Paynaents due under the Note aud this 5ecuriry Instrumeat stiall be made in U.S. currency. Hawever, if any check or other instrument received by Lender as payrneat under the Note or this Securiry Instrument is returned to Lender unpaid, Lender may require that any or all subsequent _payments_due under _the_Note aud this _Securiry. Instrument be_�ade_ i�.�pe oc.mnre �f. tt� f.ull�wi�g fo�ns,..as selected .hy __ . Lender: (a) cash; (b) mouey order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upou an institutiou whose deposits are insured 6y a federal agency, instrurnentaliry, or entity; or (d) Etectronic Funds Transfer. Payments are deemed received by Leuder when received at the location designated in the Note or at such other location as may be designated by Lender in accordance 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. Lender may accept any payment or partial paymeut insufficrent to bria� the Laan current, without waiver of any rights hereuader ar pre�udice to its rights to refuse such payxnent or partial payments in the future, but Lender is nat obligated ta apply such payments at the time such payments are accepted. If each Periodic Payrneat is applied as of its scheduled due date, then Lender need not pay iuterest on unapplied funds. Lender may hold such unapplied funds until Borrower rnakes payment to bring the Loan current. If Borrower does uat do so within a reasonable period of time, Lender shall erther applq such funds ar return them to Borrower. If uot applied earlier, such funds will be applted to the outstanding principal balance under the Note innmediately prior to foreclosure. No offse[ or claim which Borrower might have aow or in the future against Lender shall relieve Borrower fram mak'rng payments due under the Note and th'rs Security Instrurnent or performiug the covenants and agreeinents secured by this Securiry Instrument. 2. Application of Payments or Proceads. Except as otherwise described in this Section 2, a11 paymenls accepted and applied by I.ender sha11 be applied in the following order of prioriry: (a) interest due under the Note; (b) principal due nnder the Note; (c) amouuts due under Section 3. Such payments sha11 be applied ta each Periodic Payrnent in the order in which i[ became due. Any remaining amounts shall be applied first to late charges, second to any aWer amounts due under this Security Instnunent, and then ta reduce the principal balance of the Note. If Lender receives a payrnent fram Borrower for a deliuquent Periodic Payment which includes a sufficient amount to pay any late charge due, che payxnent may be applied to the deliuquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender ruay apply any paymeut 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. Valuntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance praceeds, or Miscellaneous Proceeds to principal due under the NoCe sha11 not extend or postpane the due date, or change the axnount, of the Periodic Paymeuts. 3. Funds [or Escrow Items. Borrower shall pay to Lender an the day Periodic Payments are due under the Note, unt'rl 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 Securiry Instrument as a lien or encwnbrance on the Property; (b) leasehold payrneuts or ground reats on the Froperty, if any; (c) premiums for auy and all insurance reqnired by Lender uader Section 5; and (d) l�iortgage Insurauce premiurns, if any, ar any sums payable by Barrower to Lender in lieu of the payment af Mortgage Insurance premiums in accordance with the provisions of Sec[ion 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Leuder maa� require that Community Association Dues, Fees, and Assessments, if auy, be escrowed b� Borrower, and such dues, fees and assessments shall be an Escrow Itern. Borrower shall promp[ly furnish to Lender all notices of atnaupts to be paid under this Section. Borrower sqall pay Lender the Fuuds for Escrow Itexns unless �,euder waives Borrower's obligatian to pay the Funds for any ar all Escrow Items. Lender tnay waive Borrower's obligation to �ay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Barrower sha11 pay d�rectly, whea and where payable, the amounts due for any Escrow Items for which payment of Funds has beeu waived by Lender and, if Lender requires, shall furnish ta Lender receipts evidenciug such payment within such time period as Lender may require. Borrower's abligatian to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and a�reement contaiued in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuapt to a waiver, and Borrower NEBRASKA---Single Family—Fannie Mae/Fred�Ne Mac UNIFORM INSTRUMENT Form 3028 1101 Bankera Syatema, Inc., St. Cloud, MN Form MD-1-NE 8l1712000 ([)aqe 2 of 7 p4ges)�