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201109114
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all 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 Instrument. All of the foregoing is refened to in this Se,curity Instrument as the "Property."
<br />Borrower understands and agrees that MER5 holds only legal title to the interests granted by Bonower in this Security
<br />Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors
<br />and assigns) has the right: to exercise any or all of those interests, including, but not lunited to, the right to foreclose
<br />and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling
<br />this Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against a11 claims and 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. Bonower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Inter�t, Escrow Items, Prepayment Charg�, and Late Charges. Bonower shall
<br />pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment chazges and late
<br />charges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to Section 3. Payments due
<br />under the Note and this Security Instrument sha11 be made in U.S. currency. However, if any check or other
<br />instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,
<br />Lender may require that any or a11 subsequent payments due under the Note and this Security Instrument be made in
<br />one or more of the following forms, as sel�ted by Lender: (a) cash; (b) money order; (c) certified check, bank check,
<br />treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits aze insured
<br />by a federal agency, instrutnentality, or entity; or (d) El�tronic Funds Transfer.
<br />Payments are deemed received by Lender when r�eived 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 partial payment if the payment or partial payments are insufficient to bring the Loan 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 refuse such payment or partial payments in the future, but Lender is not
<br />obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds
<br />until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of
<br />time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Note unmediately prior to foreclosure. No offset or claim
<br />which Bonower might have now or in the future against Lender sha11 relieve Bonower from making payments due
<br />under the Note and this Security Instrument or performing the covenants and agreements secured by this S�urity
<br />Instrument. �
<br />2. Application of Payments or Procceds. Except as otherwise described in this 5ection 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
<br />(b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic
<br />Payment in the order in which it became due. Any remaining amounts sha11 be applied first to late charges, second
<br />to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Bonower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received from Bonower to the
<br />repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that
<br />any excess exists after the payment is applied to the fu11 payment of one or more Periodic Payments, such excess may
<br />be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment chazges and then
<br />as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrnw Items. Borrower sha11 pay to Lender on the day Periodic Payments aze due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and
<br />assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the
<br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />required by Lender under 5ection 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10.
<br />These items are called "Escrow Items. " At origination or at any time during the term of the Loan, Lender may require
<br />that Community Association Dues, Fees, and Assessments, if any, be escrowed by Bonower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower sha11 promptly furnish to Lender all notices of atnounts to be paid
<br />under this Section. Borrower shall pay Lender the Funds for Fscrow Items unless Lender waives Borrower's
<br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
<br />withui such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts
<br />NEBRASK�--Single Family--Fannie Mae/Freddie Mac�tl1�TFOR 1NSTRUMENT - MERS DocMa c�
<br />Form 3028 1/07 Pa 3 of 17 www.d�magic.com
<br />Ne3028.mzd.nml
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