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20110841�
<br />Thls Security Instrument secures to Lender: Ii1 the repayment of the Loan, and all renewais, extensions and
<br />modifications of the Note; and (ii) the performence of Borrower's covenants and agreements under this Security
<br />instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of
<br />sale, the following descri6ed property located in the County of Hall:
<br />Real Property tax identification number is 400181002,
<br />Lot Two (2L Block Two (21 �,q West North Lawn Second Addition to the city of Wood River, Hall County
<br />Nebraska
<br />which currently has the address of 1403 Dodd St, Wood River, Nebraska 68883-9152 ("Property Address"):
<br />TOGETHER VVITH all the improvements now or hereafter erected on the property, and aii easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security tnstrument. AN of the foregoing is referred to in this Security Instrument as the "Property.°
<br />BORROWER COVENANTS that Borrower is lawfulty 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 />warrants and will defend generaily the title to the Property against all claims and demands, subject to any
<br />encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for nationai use and non-uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering reat properiy.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree es follows:
<br />1. Payment of Principai, Interest, Escrow Items, Prepayment Charges,. and Late Charges. Borrower shaU pay
<br />when due the princips4 of, and interest on, the debt evidenced by the Note and any prepeyment charges and late
<br />charges due under the Note. Borrower shail aiso pay funds for Escrow Items pursuant to Section 3. Payments due
<br />under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument
<br />received by �ender as payment undes tfie Note or this Security instrument is retumed to Lender unpaid, Lender may
<br />require that any or ail subsequent payments due under the Note and this Security Instrument be made in one or more of
<br />the foilowing 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 'ss drawn upon an institUtion whose deposits are insured by a federal
<br />agency, instrumentality, or entity; br (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 payment or partiai payment if the payment or partial payments are insufficient to bring the Loan current. Lander
<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 refuse such payment or partial payments i� the future, but Lender is not ob4igated
<br />to appiy such payments at Che time such payments are accepted. If each Periodic Payment is appiied as of its
<br />scheduted due date, then Lender need not pay interest on unappiied funds. Lender may hoid such unapplied funds until
<br />Borrower makes payment to bring the Loan current. 1f Borrower does not do so within a reasonable pertod of time,
<br />Lender shall either apply such funds or return them to Borrower. if not appiied earlier, such funds wili be applied to the
<br />outstanding principat ba4ance under the Note immediatefy prior to forectosure. No offset or claim which Borrower might
<br />have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this
<br />Security instrument or performing the covenants and agreements secured by this Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted
<br />and applied by Le�der shall be applied in the fo{lowing order of priority: fa1 irtterest due under the Note, {bF principaF 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 applisd first to late cfiarges, second to any other
<br />amounts due under this Security Instrument, and then to reduce the principal balance of the Note. '
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which inciudes a sufficient amount
<br />to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. {f more than
<br />one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the
<br />Periodic Payments if, and to the extent that, each payment can 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 Paymants, such excess may be applied to any
<br />late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the
<br />Note.
<br />Any application of payments, insurance proceeds, or Misceilaneous Proceeds to principal due under tha Note sha14
<br />not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Itams. Borrower sha{I pay to tender on the day Periodic Payments are due under the Note,
<br />untii the Note is paid in fuil, a sum (the "Funds") to provide for payment of amounts due for: (a1 taxes and assessments
<br />and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b)
<br />leasehold payments o[.ground rents on the Property, if any; (c3 premiums, for any and alf insurance required by Lender
<br />under Section 5; and (d) Mortgage Insurence premiums, if any, or any sums payabie by Borrower to Lender in lieu of the
<br />payment of Mortgage tnsurance premiums in accordance with the provisions of Section 10. These items are called
<br />"Escrow items." At origination or at any time during ,tha, term of the loan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments
<br />shatt be an Escrow kem. Borrower shall promptly fumish to Lender ali notices of amounts to be paid under this Section.
<br />Borrower shali pay Lender the Funds for Escrow Items unless Lender waives Borrower's obtigation to pay fhe Funds far
<br />any or aU Escrow Items. Lender may waive Borrower's obiigation to pay to Lender Funds for any or all Escrow Items at
<br />any time. Any such waiver may only be in writing, tn 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 period as Lender may
<br />require. Borrower's obligation to make such paYments and to provide receipts shall for all purposes be deemed to be a
<br />covenant and agreement contained in this Security instrument, as the phrase "covenant and agreement" is used in
<br />Section 9. Ifi Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the
<br />amount due foc an Escrow Item, Lender may exercise its rights undar Section 9 and pay such amount end Borrower
<br />shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any
<br />or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower
<br />shall pay to Lender all Funds, and in such'amounts, that are then 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 at
<br />the time spec+fied under RESPA, and Ib) not ta exceed the maximum emount a lender can require under RESPA. Lender
<br />shall estimate the amount of Funds due on the basis of current data and �easonable estimates of expenditures of future
<br />Escrow Items or otherwise in accordance with Applicabie'Law.
<br />The Funds shaU be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federat Home Loan Bank. Lender
<br />shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge
<br />Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items,
<br />urtless Lender pays Borrower interest on the Funds and Applicabie Law permits Lender to make such a charge. Untess
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028'1/01
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