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20�105132 TRANSFER OF RIGHTS IN THE PROPERTY This Security Insixvment secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (u) the performance of Bonower's covenants and agreements under ttus Security Instrume�t and the Note. For this purpose, Bonower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described propertylocated in the .................. ... ...... ........................... .. GQl1.NT1'.... ... ... ...... ..................... ... ............ ...... of [Type of Recording Jurisdiction] . HAl,4 ......................................................................................: [Name of Recording Jurisdiction] LOT ONE (1), KAY'S SUBDIVISION, HALL COUNTY NEBRASKA which currently has the address of ............................................ 324 E GILTNER ROAD ........................................................... [street] ........................... DOIVIPI Nebraska ...................6�.$32.................... ��Property Address"): [City] [2ip Code] TOGETHER WITH 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 sha11 also be covered by this Security 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. Bonower wanants and will defend generally the title to the Property against a11 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 instniment covering real property. UNIFORM COVENANTS. Bonower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bonower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late chazges due under the Note. Borrower shall 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. curtency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all 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) certified check, bank 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, instrumentality, 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 insufficient to bring the Loan cunent. Lender may accept any payment or partial payment insufficient to bring the Loan cunent, without waiver of any rights hereunder or prejudice to its nghts to refuse such payment or partial payments in the future, but I,ender 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 date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Bonower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or retum them to Bonower. 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 shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Appl�cation of Payments or Pr�eeds. 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) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall he 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 Bonower 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, I,ender may apply any payment received from Bonower 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 eusts 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 sha11 not eartend or postpone the due date, or change the amount, of the Periodic Payments. 3. Fttnds for Escrow Items. Bonower shall pay to Lender on the day Periodic Payments are due under the Note, until 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 Security Instrument as a lien or encumbrance on the Property; (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 Bonower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the 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 by Borrower, and such dues, fees and assessments shall be an Escrow Item. Bonower shall promptly fumish to Lender all notices of amounts to be paid under this Section. Bonower shall pay Lender the Funds for Escrow Items unless Lender waives Bonower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Bonower'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 wa.iver, Borrower shall pay duectly, 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 all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Bonower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower NEBRASKA—Single Family—Fennie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 9anRers Syatama, Inc., St. Gloud, MN Form MD-1•NE 8/17/2000 (pAge 2 af 7 pages)