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20110816�
<br />This Security Instrument sacures to Lender. (i) tha repayment of the Loan; end all renewals, extensions end
<br />modifications of the Note;- and (ii) the performance of Borrower's covenants and agreements under this Secu�ity
<br />Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of
<br />sale, the following described property located in the County of Hall:
<br />Real Property tax idantification number is 400012995.
<br />Lot 2(2), Ashton Place Second in the C'rty of Grand Island, Hall County, Nebraska
<br />which currently has the address of 204 Ingalls St, Grand Island, Nebraska 68803-5727 ("Property Address"1:
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />eppurtenances, and fixtures now or hereafter e part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
<br />warrents and will dsfend generally the title to .the Property against aii clair�s. end.-demands,. subject to any
<br />encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal. Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pey
<br />when due the principal of, and interest on, the debt evidenced by tha Note and any prepayment charges and late
<br />charges dua under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due
<br />undar the Note and this Security Instrument shall be made in U.S. currency. However, if any check or ather instrument
<br />racaived by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may
<br />require that any or all subsequent payments due under the Note and this Sacurity Instrument be made in one or more of
<br />the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check; bank check; treasurer's check
<br />or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal
<br />agency, instrumentality, or entity; or (d) Electronic Funds Transfer. �
<br />Payments are deemed received by Lender when received at the location designated in the Note or' at such� other
<br />location as may be designated by Lender in accordance with� the notice provisions in Section 15. Lender may return
<br />any paymant or pertiel payment if the payment or partial payments are insufficient to bring the Loen current. Lender
<br />may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights'
<br />hereunder or prejudice to its rights to refusa such payment or partial payments in the future but Lender is not obligated
<br />to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its
<br />scheduled due date, then Lender need not pay interest on unapplied funds. Lender may Mold such unapplied funds until
<br />Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasoneble period of time,
<br />Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be appiied to the
<br />outstanding principal balanae under the Note immediately prior to foreclosure. No offset or cleim which Borrower might
<br />hava now or in the future ageinst Lender shall relieve Borrower from making payments due under the Note and this
<br />Security Instrument or performing the covenents and agreements secured by this Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise describad in this Section 2, ell paymants accepted
<br />and applied by Lender shall be eppliad in the following order of priority: (a) interest due under the Note; (b) principal due
<br />under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the
<br />order in which it became due. Any remaining amounts shall be applied first ta late eharges; secorid-to-en� `othe"r.
<br />amounts due under this Security instrument, and than to reduce the principal belance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount
<br />to pay any late charge due, tha payment may be applied to the delinquent payment and the late charge. If more than
<br />one Periodic Paymant is outstanding, Lender may apply any payment received from Borrower to the repeyment of the
<br />Periodic Payments if, and to the extent that, each payment cen be paid in full. To the extent that any excess exists
<br />after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any
<br />late charges due. Voluntary prepayments shall be applied first to eny prepayment charges and then as described in the
<br />Note. .
<br />Any application of peyments; insurance procaeds, or Miscellaneous Proceeds to principal 'd�1e under the Note shall
<br />not extend or postpona the due date; or change the'amount, of the Periodic Payments. -
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note,
<br />until the Nota is paid in full, a sum (the "Funds") to provide for payment of emounts due for: (a) taxes and assessments
<br />and other items which can attain priority over this Security instrument as e lien or encumbrance on the Property; (b)
<br />leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance'required by Lende�
<br />under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to L$nder in lietr of the'
<br />payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are cailed
<br />"Escrow Items." At origination or at any time during the term of the Loan, Lender mey require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees end assessments
<br />shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of emounts to be paid under this Section.
<br />Borrower shall pay Lender the Funds for Escrow Items unless Lander waives Borrower's obligation to pay the Funds for
<br />any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at
<br />any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and
<br />where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if
<br />Lender requires, shall furnish to Lender receipts evidencing such payment within such time pariod as Lender may
<br />require. Borrower's obligation to meke such payments and to provide receipts shell for all purposes be deemed to be a
<br />covenant end agreement contained in this Security Instrument, es the phrase "covenant and egreement" is used in
<br />Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower
<br />shall then be obligated under Section 9 to repay to Lender any such Lender may revoke the waiver as to any
<br />or a1P-EscroVV `Items at any time by a notice given in eccordance with Section 15 end, upon `sucfi'revocation; Borrower
<br />shall pay to Lender all Funds, and in such amounts, that are than required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds et
<br />tha time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future
<br />Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured.by e federal agency, instrumentality, or entity
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Benk. Lender
<br />shall apply the Funds to pay the Escrow Items no later than the tima specified under RESPA. Lender shell not charge
<br />Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items,
<br />unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless
<br />an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fbrm 3028 7/01
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