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201U49S10
<br />TRANSFER OF KIGHTS IN '1'HE PROYt;12TY
<br />7'hiti Securily lnstrument tiecures t<> I.erider: (ij ihe repayment of thc I.oan, and all renewals, extensions and modifications of
<br />the Notc; and (ii) lhe performance of 13orr<�wer's cc>venants ana agreements under th'rs Security Instrument and the Note. For
<br />fhis purpose, Borrowcr irrevucahly grants and conveys to '1'rus[�;e, in tru�t, with pawer of sale, the following described
<br />prc>perty locatca in the ....................................... .......B�G�S.?ER.OF.O �.RS..................................................... ot
<br />IType of Recordinp�Jurisdiction]
<br />N?44.G4U.NTY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
<br />fNama of Rer.ording Jurisdictionl
<br />LOT ONE (11, BLOCK TW0121, I5LAN� ACRES NUMBER 2, IN 7HE CI7Y OF GRAND 15LANQ, NEBRASKA
<br />which currently has thc adclress of ................................................... '
<br />3113
<br />......GRAND 15LAN� .................. ...... Ne.hratika ...................6$.&R3..................... � „ Property Address")
<br />.................... v . ., .
<br />lCit ] [Zip Codel
<br />`1'OGT�T}IER WI`1'H all the unprovements now r>r hereafter erected on the property, and all easements, appurtenances,
<br />and fixtures now on c�reafter a part oP the property. All replacements and additions shall also be covered by this 5ecurity
<br />Instrumenl. All of the t��rcgoing is referrecl to in this ScciXrity Instrument as il�e "Yroperty."
<br />B(�RROWER COVENAN7'S ttrat Bc.�rrower is lawfully tieised of the estate hereby conveyed and has th� right to grant
<br />and convey lhc I'ruperty and lhal Q�e Property is �inencumbcrea, except for encurnbrances of record. Borrowe;r warrants and
<br />will defcncl generally the tille tc� the Properly �gainst all claims and deman�ls, suhject tu any encumbrances of record.
<br />'1'HIS SP,CURITY INS'I'TtiJMEN1' con�bines uniform cc�venants for iuttic�nal use and non-uniform covenants with limited
<br />variations by jririsdiction to constitute a�miform security instrirment covering re�l property.
<br />LlNI�'ORM C.OVENAN�I'S. 13urrower and i.ender covcnant and a�ree as fc�llows:
<br />l. 1'ayinent of Principal, Inicresi, Escrow Ilcnts, Yrepaymenl Charges, and Lale Charges. Borrower shall pay
<br />when due the principal of, and interest on, Qic debt evidenccd by the Note and any prepayment charges and late charges due
<br />under the Note. F3urrower sh�ll also p�y funcls for l;scrow Ilcros pursuant to Sectian 3. Payments due under the Note and this
<br />Security Instrumcnt sh�tll be made in 11.5. currency. However, if airy dieck or other instrument received by Lender as paym�nt
<br />under the Nolc or this SecuriCy Tnslrument is recurnccl tc� I.ender unpaid, l�,en�ler may require that any or all subseyuent
<br />paymcnts clue under the Note �u�d this Security InStrument be madc in c�ne or more of the following fnrms, as seleeted by
<br />Lenaer: (a) cash; (b) moncy ��ccier; (c) certificd claeck, bank chcck, trea�urer's check or cashier's check, provid�d any such
<br />check is drawn upon an institirtion whosc deposits are insurccl by x I'ederal agency, instrumentality, or entity; or (d) Flectronic
<br />Funds '1'ransl'er.
<br />Payrnents are deemecl received by Lendcr when received at thc location designated in the Note nr at such other loeation
<br />as may be designatcd by [..encler in acce�rda��ce wich the noticc provis'runs in Section 1S. I,ender rnay return any payme;nf or
<br />partial payment 'rf the paymenl or pariial payments arc insufl'icient to bring thc Loan current. Lender may accept any payment
<br />or p�u�tial pnyment insuYficient lc� brin�; the Loan current, without waiver of any rights hereunder or pre�udice tn its r�ghts to
<br />reluse such paym�nf or partial paymenCs in the luture, but Lendtr is not obligated to apply such payments at the time such
<br />payments �ire accepced. If each 1'crioclic Payment is applic�l �►s c�f its scheduled due dafe, [hen Lender need not pay interest on
<br />unappliecl lunds. l.ender may holcl such trnapplied funds until Borrower makes payment to bring the I.oan current. If Borrower
<br />does not clo so within a reatic>n�ble period uf time, I,�ncler shall eiCher apply such ft.in�ls or return them to Borrawcr. If not
<br />applied earlier, such funds will be applied to the c.�ulstancling pi'incipal balance under the Note imnnediately prior to foreelosure.
<br />No offsel or claim which Borrower might have now or m the tuture againtit I�ender shall relieve Borrower from making
<br />payments due �rn�ler the Note and this tiecurity Instrument or perfi�rming the covenants and agreem�:nts secured by this Security
<br />Instrument.
<br />2. Application of Pay�neuts or 1'roc�ceds. I:xcept as otherwitie described in this Section 2, all payrnents aeeepted and
<br />appliecl Uy Lender shall hc appliecl in the fullowing ordea of priority: (a) interest due under the Nnte; (b) principal due under
<br />the Note; (c) amc�unts cl�ie uncler Sectic�n 3. Suda payments shall be applied to each Perio�lic Payment in the order in which it
<br />t�ecame due. Any remaining am<�unts shall be a��plied firsl lo late charges, tiecond to any other amouncs due under this Security
<br />Instrument, and then to rc�luce the principal balance of thc Note.
<br />Il I,encler receives a payment from B��rrower for � delinquent 1'eriodic Payment which includes a sufficient amount to
<br />pay any late charge due, thc payment may be applied tu thc delinyuent payment and the late char�;e. Tf more ihan cme Periodic
<br />T'aymcnt is outstancling, I.,ender may apply any paymcnt received frorn Rorrower to the repayment ot [he Perindic Payments if,
<br />and to the extent that, each pay►nent can bc pard in lull. To the extent that. any cxcess exists after the payment is applied to the
<br />full payment of one or more 1'crioclic F'ayments, such exce.ss may bc appliecl to any l�ite charges due. Voluntary prepayments
<br />shall be �pplie� first to �ny prepayment charges and thcn xs �lescribe�i in the Note.
<br />Any application of paymcnl�, ins�u•ance Pr�>ceeds, ur Miscellan�ous 1'roceeds fo principal due under the Note shall not
<br />cxtcnd ur postpone the clue date, cir chan�e the amuunt, of tt�c Pc:ric>clic Pxyrnents.
<br />3. Fm�ds for Escrow lte�us. Bnrrowcr sl�all pay t�� I,ender on the day Yeriodic 1'ayments art due under the Note, until
<br />the Note is paid in full, a sum (the "Punc(s") tu prcrvide for payment of amo�rnts due for: (a) taxes and assessments and other
<br />items which can attain prinri�y nver thiti Securiiy lnstrumeilc as a lien or encun�brance on the Property; (b) leasehold payments
<br />or grnunil rents on che Prope► if any; (c) prcmit.�ms fnr any and all insurance reyuired by Lender under Stction 5; and (d)
<br />Mortgage insurancc prcmiums, 'rl' any, or any sums payable by Borrowcr to i,ender in lieu of the payment of Mortgage
<br />Insurance premiums in accorc.lance with the provisiuns of Section 10. '1'hese itcros are called "Escraw Items." At originatinn or
<br />at any time during the term of the Loan, Lendcr may require that Cummun'rty Association Dues, Fees, and Assessments, if any,
<br />be escrowed by Borrower, and such dues, fees an�l assestiments sh�ill be an Escrow Item. Borrower shall promptly furnish to
<br />Lender all notices ��f arnounts to be p�iicl under this Seclion. Borrc�wer shall p�y l,ender the Funds for Escrow Items unless
<br />Lender waives Borrower's obligation to pay the ��unds for any or all Escrow Items. T.ender rnay waive I3orrower's nbligation
<br />to p�y to I..ender Pimcls for an� or xll Tiscruw Items at any tin�e. Any such waiver may only be in writing. In the event of such
<br />waiver, F3orrc�wer shall pay �I�recdy, wiien and where payable, che amouncs due fur any �;scrow Items for which payment of
<br />I�undn hah Yx:en waivcd by I.cnder an�l, if 1.eNUler reyuires, shxll li�rnish to Lender receipts evidencing such payment within
<br />such tirne peri<��l �ti I,encler i�ixy rcciuirc-. T3ora obli�;ation to make such payments and tn provide receipts shall for all
<br />purpnscs be deemed to lie a cuvenant and agreement contained in this Sccurity IaStrument, as the phrase °covenant and
<br />agreement" is used in SecCion �. If Burrower is obligaled to pay �;scrow Itcros directly, pursuant to a waiv�r, and $orrower
<br />NEBRASKA—Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMEN7 Form 30 8�1l07
<br />Banknrs Systerns, Inc., St. Cloud, MN Form MU-1-N[ £3/17/2000 (page 2 Of 7pngcs) V" '
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