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TRANSFER OF RIGHTS IN THE PROPERTY 2 011 a 4 4 9� This Securiry Instrument secures to Lender: (i) the repayment of the Loan, and a11 renewals, extensions and mod�cations of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower inevocably gtants and conveys to Trustee, in trust, with power of sale, the following described propertylocated in the ...................................................BElGIST.ER.OF.DEF.RS..................................................... of [Type of Recording Jurisdiction] HAIlGQUNTY .. .................. .. . ... . ...... .. ...................... .. . .... ..............: [Name of Recording Jurisdiction) 4034 SACRAMENTO CIRCLE. GRAND ISLAND, NE 88803 LOT SEdENTEEN !17l, JEFFREY OAKS THIRD SUBDIdISION, IN THE CITY OF GRAND ISLANU, HALL COUNTY, NEBRASKA AND 407 E ZOTH ST, GRAND ISLAND, NE 88801 LOT FIVE (5f IN BLOCK NINE (9►, MORRIS FIFTH ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA which currently has the address of ................................................................................................................. Istreetl ..........................�f�NRI$l-AA��..........................., Nebraska .............................................. ("Property Address"): [Cityl [Zip Code1 TOGETHER WITH a11 the improvements now or hereafter erected on the �roperty, and all easements, appurtenances, and fixtures now or hereafter a part of the properly. All replacements and additions shal( also be covered by this Securiry Instrument. All of the foregoing is refened to in this Security Instrument 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 Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property agaiast all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instnunent covering rea.l properly. UNIFORM COVENANTS. Bonower and Lender covena.nt and agree as follows: 1. Payment of Principal, Intet�t, Escrow Items, Prepayment Charges, and Late Charges. Borrower sha11 pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower sha11 also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note 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 retumed to Lender unpaid, Lender may require that any or a11 subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certif'ied check, banl� check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentaliry, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender 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 insuf�cient to bring the Loan current. Lender may accept any payment or partral payment insufficient to 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 time such payments are accepted. If ea.ch Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower d�s not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender sha11 relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Securiry Instrument. Z. Application of Payments or Pr�eeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender sha11 be applied in the following order of prioriry: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such �ayments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then 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 applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment ca.n 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 sha11 be applied first to any prepayment charges and then as described in the Note. Any application of payments, iasurance proceeds, or Miscellaneous Pr�eeds to principal due under the Note sha11 not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Bonower sha11 pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in fu11, 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 Security Instrument as a lien or encumbrance on the Properly; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with We provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed b� Bonower, and such dues, fees and assessments sha11 be an Escrow Item. Bonower shall promptly furaish to Lender a11 notices of amounts to be paid under this Section. Borrower sha11 pay Lender the Funds for Escrow Items unless Lender waives Bonower's obligation to pay the Funds for any or a1l Escrow Items. Lender may waive Borrower's obligation to Qay to Lender Funds for an�+ or a11 Escrow Items at any time. Any such waiver may only be in writing. In the event of such wa�ver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender 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 a11 purposes be deemed to be a covenant and agreement contained in this Securiry Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower �s obligated to pay Escrow Items direcfly, pursuant to a waiver, and Borrower NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 7(01 Bankera Systems, Inc., St. Claid, MN Form MD-1-NE 8/17/2000 (page 2 of 7pages)