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IY~II!IIIIII~VI 1111811
NUM 35-7- ~l
RD. COMP x
COMPARE / ~/
CADAS - AO ~
ADAMS COUNTY, NE
FILED
INST.NO..~, ~nNla~3g
Date - 8-'o Time 9~ ~a A m
TER Of DEEDS
[Space Above This Line For Recording Data]
DEED OF TRUST
DEFINITIONS
Words used'iu multiple sections of this docwneut are defined below and other~words are defined i~ Sections 3, 11, 13, 18, 20
and 21. Certain rules regarding the usage of words used iu this document are also provided in Section 16.
(A) "Security Ltstrument" means this docwneut, which is dated ........................JO,-D0,-2007,,,,,,,,,,•••,,.•„•.,.•••,,,, together
with all Riders to this docwneut.
(B) "Borrower" is .RQG.~R~•.KRA9[[.9N9.GARMYN.A~.KRA~[~,.HUSBAN4.ANAWIFG ............:........................................................
................................... .
Borrower is the trustor under this Security Iustruntent.
(C) "Leader" is BANK OF DQNIP.HAN .....................................................................
........................................... .
Lender is a .GDR?OAATWN ......:................:...'..............:.......................:.............!........... organized and existing under
.the laws of .THESTAT.GpF,NG9PASKA ................ .:..........:..Leader's address is .P.Q.9RX.2?QrAQNIPHgN,,NE,88QQ2;4z7Q,,,,,,
Lender is the beneficiary under this Security Instrument. • • • ~ •
(D) "Trustee" is CENTRAL NATIONAL•BANK, P;O:,fiOX 268 SUPERIOR, NE 68978
..................................................................................................... .
(E) "Note" means [he promissory note signed `by Borrower and dated 10.30-2.QQ?;,,,,,,,,,•;••,•••.••„•••• .:The
Note states that Borrower owes Lender 7A8EI.H..UNPA~O.TWEN7YTNp.USANp.gNO.NplJp4...: .. ......... ......... .........
...............
••••••••••••••••••••••••••••• ..................... Dollars (U.S. $ 320,000;00;••-•:••••.,•....••••.••) plus interest. Borrower has protttised to
pay this debt iu regular Periodic Payments and to pay the debt iu full not later than .....................11:D.1;2A97.,,,,,,,,,,,,,,,,,,,,,
......................................................................................................................
.................................. .
(F) "Property" nteansthe property that is described below under the heading "Transfer of Rights iu the Property."
(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note,
and alt scans due under this Security Ittstrumeut, plus interest.
(H) "Riders" means all Riders [o this Security Iustruuteut [hat are executed by Borrower. The following Riders are to be
executed by Borrower [check box as applicable]:
^ Adjustable Rate Rider ^ Condominium Rider ^ Second Home Rider
^ Balloon Rider ^ Planned Uuit Development Rider ^ Other(s) [specify] .......................
^ 1-4 Family Rider ^ Biweekly Payment Rider
(n "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordittauces and
administrative rules auk orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions.
(.n "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are
unposed ou Borrower or the Property by a coudominiunt association, hotneowuers association or shnilar organization.
(K) "Electronic~'Funds Transfer".means any transfer of funds, other than a transaction originated by check, draft, or sunilar
paper iustrwneut, which is ittifiated through •au electronic terminal, telephonic iustrwneut, cotitputer, or magnetic tape sous [o
order, instruct, or authorize a financial iustitutioti to debit or credit an account. Such tetut includes, but is not lunited to,
point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire.trausfers, and automated
clearinghouse transfers.
(L) "Escrow Items" means those items that are described iu Section 3.
(M) '!Miscellaneous Proceeds" means any compensation, settlement, award of dautages, or proceeds paid by any third party
(other Chao insurance proceeds paid under the coverages described in Section 5) for: (i) dunage to, or destruction of, the
Property; (ii) coudenutation or other taking of all or any part of the Property; (iii) conveyance iu lieu of condemnation; or (iv)
misrepresentations of, or omissions as to, the value and/or cottditiou of the Property.
(N)' "Mortgage Ltsurance" means insurance protecting Lender against the uoupaynteut of, or default ou, the Loau.
(O) "Periodic Payment" tneaus the regularly scheduled atttount due for (i) principal and interest under the No[e, plus (ii) any
amounts under Section 3 of this Security lustrwnent.
(P) "RESPA" means the Real Estate Settlement Procedures Ac[ (12 U.S.C. §2601 et seq.) and its iuiplementiug regulation,
Regulation X (24 C.F.R. Part 3500), as they might be atneuded from time to tune, or any additional or successor legislation or
regulation that governs the sane subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and
restrictions [hat are imposed in regard to a "federally related mortgage Loau" even if the Loan does not qualify as a "federally
related mortgage loan" under RESPA.
(~ "Successor in Interest of Borrower" ntcaus any party that has taken title to the Property, whether or not that party has
asswned Borrower's obligations under the Note and/or this Security Instrument.
Form 3028 1/07 pn
NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT IulWlllul~llllll~llllllll
Bankers Systems, Ine., St. Cloud, MN Form MD-1-NE B/17/2000 ~ /I ~ ~ 'I
ref: 1/2001 (page I of 7 pages) _ ^ + t J+ B, t2 ,~A 0
( n (.
•;.~ ~ i. a /.;~ •t,' i l ;:. • r
Of 6
20.0.'74936
TRANSFER OF RIGHTS IN THE PROPERTY
This Security htstruntent secures to Louder: (i) the repayment of the Loau, and all renewals, extensions and modifications of
the Note; and (ii) the perfonnauce of Borrower's coveuauts and agreements under this Security Instnuueut and Ute Note. For
this purpose, Borrower irrevocably grants and conveys to Trustee, itt trust, with power of sale, the followiug described
property located iu tlte ......................:.:..........:...............BEGISTER.OF.DEERS..................................................... of
,~ - ~ ~ ~" ~ IType of Recording Jurisdiction) ~ ~ -
EXHIBIT "A"
A4AMS ............:.:........r....,..............,......................,................,...:..
)Nome of Recording Jurisdiction]
which currently has the address of ......................................... 10315, W.,PARI,fjIE,LAKE,AOAp,,,,,,,,,,,,,,",,,,,,,,,,,,,,,,,,,,,,,,,,,,,
[Street!
.:...........................JUNIATA.............................., Nebraska ...................6@855..................... („Property Address"):
[City] IZip Codel
TOGETHER WITH all the, huprovements now or hereafter erected ou the property, and all easements, appurtenances,
and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security
Instrmnent. All of the foregoing is referred to iu this. Security Iustrmueut as.the. "Property."
BORROWER COVENANTS.thaf Borrowcr,is lawfully seised of, the estate hereby conveyed. aud,has the.right,,to grant
and cohvey the Property and that the Property is'uiiencuinbered, except' for enctttnbrauces of record. `Borrower'warrauts and
viilCdefend generally the title to the.Property against all claims and dentauds, subject to any eucatitbrances of record.
THIS SECURITY INSTRUMENT contbiues uttifonti coveuauts for ttatiottal use and non-uuifonu coveuauts with )united
variations by jurisdiction to constitute a uuifornt security instrument covering real property.
UNIFORM COVENANTS. Borrower attd Louder coveltaut attd agree as follows: .
1. Payment of Principal, Interest, Escrow Items,-Prepayment Charges, and Late Charges. Borrower shall 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 No[e. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under [he No[e and this
Security lustrumeut shall be made itt U.S. currency. However, if any check or other iustnuueut 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 Instrutent be made in one or more of the followiug fonus,,as selected by
Louder: (a) cash;- (b) titouey order; (c) certified check; -batik- check, "freastirer's check of cashier's check; provided any such
check is drawn upon au institution whose. deposits are insured by a federal agency, iustrmueutality, 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 Wray be designated by Lender in accordance with the notice provisions iu Section 15. Louder may return any payment or
partial payment if the payment or partial payments are insufficient to bring the Loau current. Lender tnay accept any payment
or partial payment insufficient to bring the Loau current, witliout waiver of any rights hereunder or prejudice to its rights to
refuse such payment or partial payments iu the. future, but Louder is not obligated to apply such payments at the true such
payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest ou
unapplied funds. Lender may hold such uuapplied funds until Borrower makes payment to bring the Loau current. If Borrower
does; not do so within a reasonable period of true, Lender shall either apply such funds or return them to Borrower. If not
` applied. earlier, such funds wilb;be applied to the: outstanding. principal balance under the Note hmnediately prior to foreclosure.
No offset or claim, which Borrower might have now or iu the future against Lender shall relieve Borrower from .making
payuents due'uuder the Note and this Security Insttvutent or perfonuiug the coveuauts and agreements secured by this Security
Instrument.. '
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all paytneuts. 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
becaute due. Any remaining atitounts shall be applied first to late charges, second to any other atnouuts due under this Security
Iustrtuuent, and then to reduce the principal balance of the Note.
If Louder receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient unowu 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, Louder may apply any payment received front Borrower to the repaynteut of the Periodic Payments if,
and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the
full payment of Due or more Periodic Payments, such excess tray be applied to any late charges due. Voluntary prepayments
shall be applied first to any prepayment charges-and their as,described in the.Nnte.
Auy application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not
extend or postpone the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender ou the day Periodic Payments are due under the Note, until
the Note is paid in full, a sutra (the "Funds") to provide for payment of autouuts due for: (a) taxes and assessments and other
items which eau attain priority over this Security Instrument as a lieu or euctunbrauce on the Property; (b) leasehold paytneuts
or ground rents on the Property, if any; (c) premimus for any and all insurance required by Lender under Section 5; and (d)
Mortgage Insurance. premiums, if any, or any Burns payable by Borrower to Leader iu lieu of the payment of Mortgage
Insurance prentiunts in accordance with the provtstotts of Section 10. T(tese items are called "Escrow Rents." At origination or
at any time during the term of the Loau, Louder may require that Couunuttiry Association Dues, Fees, and Assesstueuts, if any,
be escrowed by Borrower, and such dues, fees and assessments' shall be au Escrow Item. Borrower shall promptly furnish to
Lender all notices of atnouu[s [o be paid under this Section. Borrower shall pay Louder the Funds for Escrow Items.utiless
Lender .waives Borrower's obligation to pay the Funds .for' any°or'alC'Escrbw' Items. Lender may waive Borrower's obligation
to itay-to-Louder Funds for any or all Escrow Items. at any time. Auy such waiver may Duly be in writing. Iu the evegt.o~such
waiver, Borrower shall ,pay, dtrectly, when and where payable,' the'amouu[s due for any Escrow Items forwhich~~i~a'yiti ut of
..,......._r.
Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing, such paynteut with
I, suclt-tinte-pcriod as Lcndcr may require. Borrower's obligation-to tiiake suolf payments and'..to'proyide rgceipts~~sliail` foC^'~
purposes,.-be deelued to be a covenant and agreement contained iu this Security Rtstrtuneut, as the phrase "cotenant and
a reement' ts'used in Secti
- g ` on 9. If Borrower is obligated to pay Escrow Items directly, pursuant 'to"'a"waivet,: ate -Borrower
fu ,r .' t: ~ . ~
t NEBRASKA-Sin le Famil rm 3 28 1/01.,
g y-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT , r ~
Bankers_Systems, Ina., $t.,gloud, MN .Form MD-1-NE 8/17/2000 (page 2 of 7 pageJ) i 'r~~ ~~
i. il.. .. i.:i
.c:
~07~
-; '•"`' 'r s:. ..~f4"twit
2007936
fails to pay the autount due for au Escrow Rent, Lender may exercise its rights under Section 9 and pay such amount and
Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any
or all Escrow Items at any time by a notice given iu accordance with Section 15 and, upon such revocation, Borrower shall pay
to Lender all Funds, and iu such atnouuts, that are then required under this Section 3.
Leader may, at any tune, collect and hold Funds in au uuouut (a) sufficieuG to penult Lender to apply Ute Funds at the
thne specified under RESPA, and (b) not to exceed the maxnnwn atnouut a leader can require under RESPA. Lender shall
es[nuate the atuouut of Funds due on the basis of current data and reasonable estiutates of expenditures of future Escrow Rents
or otherwise iu accordance with Applicable Law.. - ~ ~. ..
The Funds shall be held itt an iustitution whose deposits are insured. by a federal agency, instrumentality;" or entity "
(including Lender; if Lender is au iustitution whose deposits are so insured) or iu any Federal Home Loau Bauk: Lender: shall .
apply the Funds to pay the Escrow Itemts uo later thou t(te tune specified under RESPA. Lender shall -not charge Borrower for
holding -and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Rents, unless Lender pays
Borrower interest on the Funds and Applicable Law penults Lender to make such a.charge: Unless au agreetneut is made in
writing or Applicable Law requires interest to be paid on the Funds, Leader shall riot be required to pay Borrower any interest
or carniogs on the Funds. Borrower and Lender eau agree iu writing; however, [hat interest shall be paid on [he Funds. Leudet
shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
If there is a sur)tlus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess
foods in accordance wait RESPA. If there is a shortage of Funds held iu escrow, as defined under RESPA, Lender shall notify
Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary [o utake up the shortage iu
accordance with RESPA, but in uo more than 12 moutltly payments. If there is a deficiency of Funds held iu escrow, as
defined under RESPA, Lender shall"•.uotify. Borrower as required by RESPA, and Borrower shall pay to Lender the amount
necessary [o make up the"deficieucy iu"accordance with RESPA, but.iu uo more than 12 monthly payments.
Upon paymeu[ iu full of all soots secured by this Security Iustrwneut` Lender shall promptly refund [o Borrower any
Funds held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
Property which eau attain priority over this Security Instruuten[, leasehold payments or ground rents ou the Property, if any,
and Couuuuuity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
shall pay them iu the manner provided iu Section 3.
Borrower, shall promptly discharge any lieu which has priority over this Security Instrument unless Borrower: (a) agrees
in writing to the paymeu[ of the obligation secured by the lieu in a manner acceptable to, Lender, but only so long as Borrower
is performing such agreenteut; (b) contests the lieu iu good faith by, or defends against enforcement of the lien in, legal
proceedings which iu Lender's opinion operate. to prevent the enforcement of the lieu while those proceedings are pending, but
only until such proceedings are concluded; or (c) secures from the holder of the lieu au agreement satisfactory to Lender
subordinating the lieu to this Security Iustnunent. If Lender detemtiues that any part of the Property is. subject to a lieu which .,
eau attain priority over .this Security Iustrwueut, .Lender may give Borrower" a notice identifying" the lien. Within 10 days- of. ,
the;date ou .which"that notice is,giveu, Borrower shall satisfy the lieu or take. one or more of the actions set forth above iu this
Section 4.
Leader Wray require Borrower to pay a one-tone charge for a real estate tax verification and/or reporting service used by
Lender in connection with this Loau. -
5. Property Insurance. Borrower shall keep the hnproventeuts now existing or hereafter erected on the Property
insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
lunited to, earthquakes and floods, for which Lender requires iusurauce. This iusurauce shall be maintained iu the amounts
(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
sentences eau change during the term of the Loan. The insurance carrier providing the iusurauce shall be chosen by Borrower
subject to Lender's right to disapprove Borrower's. choice, which right shall not be exercised unreasonably. Lender may
require Borrower to pay, in counectiou with this Loau, either: (a) a one-tune charge for flood zone detenuinatiou, certification
and tracking-services; or (b) a one-time. charge for flood zone detenninatiou and certification services and subsequent charges
each tune remappings or suuilar changes occur wlticlt reasonably might affect such, deterntiitatiou 'or ceriificatiou. Borrower
shall also be responsible for the payment of any fees imposed,by the Federal Emergency Management Agency iu counectiou
with the review of any flood zone determination resulting from au objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's
option aitd .Borrower's expense. Lender is under no obligation to purchase any particular type or atnouitt of coverage.
Therefore, such coverage shall cover Lcuder, but might or might not protect Borrower, Borrower's equity in the Property, or
the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage thou was
previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might siguificautly. exceed the
cost of iusurauce that Borrower could have obtained. Auy amounts disbursed by Lender under this Section 5 shall become.
additional debt of Borrower secured by tltis.$ecurity Instrument. These atuouuts shall bear interest at the Note rate from the
date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting paymeu[.
All iusurauce policies, required by Leader aud.reuewals of such policies shall be subject to Lender's right to disapprove
such policies; shall include a standard mortgage clause, and shall name Leader as mortgagee and/or.as au additional loss, payee.
Lender shall have the right to hold the policies and renewal .certificates. If Louder requires, Borrower shall promptly: give.to..
Lender all receipts of paid premiums and renewal notices. If Borrower obtains any fora of iusurauce coverage, not otherwise
required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage. clause aitd
shall name Lender as mortgagee and/or as au additional loss payee.
In rite event of loss, Borrower shall give prompt notice to the iusurauce carrier and Lender. Lender Wray make proof of
loss if not made promptly by Borrower. Unless Leader and Borrower otherwise agree in writing, any iusurauce proceeds,
wlte[lter or not rite underlying iusurauce was required by Leader, shall be applied to restoration or repair of the Property, if the
restoration or repair is economically feasible and Leader's security is not lessened. During such repair and restoration period,
Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to
ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
Lender may disburse proceeds for the repairs and restoration in a single payment or iu a series of progress payments as fire
work is completed. Utiless an agreement is made iu writing or Applicable Law requires interest to be paid ou such iusurauce
proceeds, Lender shall not be required to pay Burrower any interest or earnings ou such proceeds. Fees for public adjusters, or
outer third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of
Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
proceeds shall be applied to the -sums secured by this Security Instrmnent, whether or not then due, with the excess, if any,
paid to Borrower. Such iusurauce proceeds shall be applied in the order provided for iu Section 2.
If Borrower abandons [Ire Property, Louder may file, negotiate and settle any available iusurauce clauu and related
matters. If Borrower does not respond within 30 days to a notice from Louder that the insurance carrier has offered to settle a
claim, then Leader may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event,
or if Lender acquires rite Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to
any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any
other of Borrower's rights (other thou the right to any refund of unearned premiwns paid by Borrower) under all insurance
Qolicies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use.the
utsurance proceeds either to repair or restore the Property or to pay unouuts unpaid under the Note or this Security Instrument,
whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days
after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for
at least one year after the date of occupancy, utiless Louder otherwise agrees is writing, which consent shall not be
unreasonably withheld, or unless exteuuatiug circwustances exist which are beyond Borrower's control.
NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT E~026 1101
8ankars Systems, Inc., St. Clwd, MN Form MD-1-NE a/17/2000 (~8e g pf ]~8pa•~
;gym+A ~~ a.. „, .
~0o7~93s
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or
nupait the Property, allow the Property [o deteriorate or conuuit waste ou dte Property. Whether or uo[ Borrower is residing in
the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing iu value
due to its condition. Unless it is detemtiued pursuant to Section 5 that repair or restoration is not economically feasible,
Borrower shall promptly . repair the Property if daznaged to avoid, further deterioration or daznage. If insurance or
coudenutatiou proceeds are patd in counectibn with damage [o, or the taking of, the Property, Borrower shall be responsible; for
repairing 'or' restoring the Property. 'only if Lender has released proceeds for such purposes. Leader Wray disburse Qroceeds for
the repairs aztd' restoration in a single payment br iu a series of progress payments as the work is completed. If the insurance or
coudemuation` proceeds are nor sufficient to, repair or restore the Property, Borrower is not.relieved of. Borrower's obligation
for the completion of such repair or restoration.
Leader or its agent may make reasonable' entries upon and inspections of the Property: If it has reasonable cause,
Leuderanay inspect the interior of the unprovements ou the Property. Lender shall give Borrower notice at the tune of or prior
to such an interior inspection specifying such reasonable cause.
8. Borrower's Loau Application. Borrower stall be in default if, during the Loau application process, Borrower or
any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
misleading, or inaccurate iufonuatiou or statements to Lender (or failed to-provide Lender with, material iufonuatiou) in
connection with the Loan. Material representations include, but are not lhnited to, represeuta[ioits concerning Borrower's
occupancy of the Property as Borrower's principal residence.
9. Protection of Lender's Interest in the Property- and Rights Under this-Security Instrument. If (a) Borrower fails
to perform the covenants and agreenteuts contained iu this Security [ustrument, (b) there is a legal proceeding that might
siguificatttly affect Lender's interest iu the .Property and/or rights under this Security Instruuieut ;(such as a proceeding iu
bankruptcy, probate for ~condeiiitiatioit of forfeiture' for enforcement ofaQien wliiclY ritay attain priority over this Security
Iustrwnent or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
whatever is reasonable or appropriate to protect Lender's interest iu [he Property and rights under ibis Security Instrwneut,
iuchidiug protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions
eau include, but are not limited to: (a) paying any sums secured by a lieu which has priority over this Security htstrwnent; (b)
appearing in court; and (c) paying reasonable attorneys' fees to protect its interest iu [he Property and/or tights under this
Security Instrwneut, including its secured position iu a bankruptcy proceeding. Securing the Property includes, but is not
lhnited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from
pipes, eluniitate building or outer code violations or dangerous conditions, and have utilities turned on or off. Although Lender
may take action under this Section 9, Lender does trot have to do so and is not under any duty or obligation to do so. It is
• agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9.
Any aznounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by 'this
Security Iustrumeut. These aznouuts shall bear interest artlte Note rate from the date of disbursement and shall. be payable,'.with
such interest, upon notice from Leader to Borrower requesting payment.
If this Security Iustrwnent is ou a leasehold, Borrower shall. comply with all the provisions of the lease. If Borrower
acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mortgage Ltsurauce as a condition of making the Loau, Borrower shall
pay the prentiwns required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage
required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was
required to make separately designated payments toward the prentiwns for Mortgage Iusurauce, Borrower shall pay the
premiwus required to obtain coverage substantially equivalent to the Mortgage Iusurauce previously iu effect, at a cost
substantially equivalent to the cost to Borrower of the Mortgage Insurance previously iu effect, from au alternate mortgage
insurer selected by Lender. If substantially equivalent Mortgage Iusurauce coverage is not available, Borrower shall continue to
pay to Lender the amount of the separately designated payutents [ha[ were due when the iusurauce coverage ceased to be iu
effect. Lender will accept, use and retain these payments as a amt-refundable loss reserve iu lieu of Mortgage Ltsurauce. Such
loss reserve shall Gc non-refundable, uolwitlrstauding the fact that the Loau is ultimately paid iu full, and Lender shall not be
required to pay Borrower any interest or earnings on such loss reserve. Lender eau uo longer require loss reserve payments if
Mortgage Insurance coverage (iu the azuount and for the period that Lender requires) provided by au insurer selected by Lender
again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage
Insurance. If Lender required Mongage Insurance as a condition of making the Loan and Borrower was required to make
separately designated payments toward the premiwus for Mortgage Iusurauce, Borrower shall pay the prentiwns required to
maintain Mortgage Insurance in effect, or to provide anon-refundable loss reserve, until Lender's requirement for Mortgage
[nsurauce ends in accordance with any written agreement between Borrower and Lender providing for such tenniuatiou or wail
tenuinatiou is required by Applicable Law. Nothing iu this Section 10 affects.Borrower's obligation to pay interest at the rate
provided in the Note. ..'. .. . .
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it Wray incur if
Borrower does not.repay t)ie Loau.as agreed.' Borrower.is not a,party to tl>e MortgagelIusurauce... ...: ; ,.
Mortgage insurers evaluate their total risk ~ ou all such iusurauce iu force front time , to thee, ,and :may. cuter into
agreements with other parties that share, or:modify their risk, or reduce dosses. These agreerneuts are ou tenus and, conditions
that are satisfactory to the mortgage insurer and.the other party (or parties) to these agreements. These agreements Wray require
the mortgage insurer to make payutents using any source of funds that the mongage.iusurer may have available (which may
include foods obtained from Mortgage Insurance premiums).
As a result, of these agreements, Lender, any purchaser of the Note, another insurer, any reiusurer, any other entity, . or
any affiliate of any of the foregoing, may receive (directly or indirectly) auiouuts that derive from (or might be characterized
as) a portion of Borrower's payments for Mortgage Iusurauce, in exchange for sharing or modifying the mortgage insurer's
risk, or. reducing losses. If such agreement provides that au affiliate of Lender takes a share of insurer's risk in exchange for a
share of the premiums paid to the insurer, the arraugemeu[ is often termed "captive. reiusurauce. " Further:
(a) Arry such agreements will not affect the amomrts that Borrower has agreed to pay for Mortgage Insurance, or
any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance,
and they will.not entitle Borrower to any refmrd.
(b).Auy such agreements will uof affect the rights Borrower has-~if any--with respect to,the:Mortgage Insurance
under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain
disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated
automatically, acrd/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such
cartcellatiorr or termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall
be paid to Lender.
]f [he Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Propeny, if the
restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,
Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had au opportunity to inspect such Property
to ensure the work has been. completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
Lender may pay for [he repairs and restoration iu a single disbursement or in a series of progress payments as the work is
coinpleted.:Utdess-au agreenteut'is made in writing or Applicable Law requires interest to be paid on such .Miscellaneous
Proceeds, Lender shall' not be .. required to pay 'Borrower any uiterest or earnings ou such Miscellaneous Proceeds. If the
restoration or'repairis no[ economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be
applied [o` die 'suuts secured by this Security Instrwneut; wltetlier or not then due, with the excess, if any, paid to Borrower.
Such Miscellaneous Proceeds shalt be applied in [lie order provided for in Section 2'.
In the event of a total taking, destruction, or loss iu value of the Property, the Miscellaneous Proceeds shall b'e applied
to the swiss secured by this Security Ltstrumeut, whether or not then due, with Ute excess, if any, paid to Borrower.
NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 02/8~V, 7V/07
Bankers Systems, Inc., St. Cloud, MN Form MD-t-NE 8/17/2000 (page 4 of 7 pages)
y., . , /..~ ,. .F ` .A ..~
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200'74936
Iu the event of a partial taking, destructiou, or loss in value of the Property iu which the fair tuarkef value of the
Property immediately before the partial taking, destructiou, or loss iu.value is equal to or greater than the atnouut of the sums
secured by this Security Instrwnent hmuediately before the partial taking, destructiou, or loss iu value, unless Borrower and
Lender otherwise agree in writing, the swiss. secured by this Security htstrwneut shall be reduced by. the amount of the
Miscellaneous Proceeds timltiplied by the, following fractions (a) [he total autouut. of the suuts' secured inuuediately before the
partial taking„ destructiou, , or Loss. iu value divided by (b) rise fair market value of [he Property yiunediately. before. the, partial
..
taking, des[ructiou,'or loss.)ti valde. Any balance shall be paid to Borrower..
Iu'the. eveiit'~of a partial taking, destruction,. or loss iu value .of the Property iu which the..fair Wrecker value of the.;
Property. numediately before rite partial taking, destructiou, or loss id value is less, than the autoiiut of the.sunts secured
inunediafely before the partial taking, destructiou, or loss iu value, utiless Borrower and Lender.otherwise agree iu writing,, the
Miscellaneous Proceeds shalLlie applied.to the swiss secured by this Security Iustruuient whether or-not the sums are then due.
If the Property is abandoned by Borrower, or if, `after notice by Lender to Borrower that the Opposing Parry (as defined
in the next sentence) offers to make an award to settle a claim for dunages, Borrower fails to respond to Lender within 30 days
after the date the notice is given, Louder is authorized to collect and apply the Miscellaneous Proceeds either to restoration or
repair of the Property or to the suuts secured by this Security lustrwneut, whether or not thou due. "Opposing Party" nteaus
the third party [ha[ owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action iu regard
to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or crhninal, is begun that, iu Lender's judgtneut,
could result iu forfeiture of the Property or other material hnpainuent of Lender's interest in the Property or rights under this
Security Instrwnent. Borrower eau cure such.a default and,, if acceleration has, occurred, reinstate as provided iu Section 19, by
causing the action:or procceditig:to be,dismissed with a ruling. that;: iu Lenders judgiue>,u;•.precludes,fo{feiture.,of the Property
or other material nupainueut of Lender's interest iu the Property or rights under this Security lustrwneut: 'Elie proceeds of any
award or claim for dunages that are attributable to the hupaimteut of Lender's interest iu the Property are hereby assigned and
shall be paid to Lender.
All Miscellaneous Proceeds [ha[ are not applied to restoration or repair of the Property shall be applied iu [he order
provided for iu Section 2.
12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
modification of autortizatiou of the sums secured by this Securiry Instrument giauted by Leader to Borrower or any Successor
iu Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower Lender
shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
payment ,or otherwise modify aniortizatiou of the swiss secured by this Security Instrument .by reason~of any demand made by
the original Borrower or any Successors iu Interest of Borrower. Auy forbearance by Louder iu exercising any right or remedy
including, without limitation, Lender's .acceptance of payments front third persons, eutities:.,or Successors iu..Interest _ of .
Borrower or sit ainounts less than the amount thou due, shall not be a waiver of or preclude the exercise of any right or remedy.
13. Joint and Several Liability; Co-signers;- Successors and Assigns Bound.. Borrower covenants and agrees that
Borrower's obligations and liability. shall be joint and several. However, any Borrower who co-signs. this .Security Iustrumeut
but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instnuneut Duly to mortgage, grant and convey the
co-signer's interest in the Property under the terms of this Security Instrument; (b) is_not.persouaily obligated to pay the suuts
secured by this Security Instrwnent; and (c) agrees that Lender and any other.Borrower can agree to extend, modify, forbear or
make any accommodations with regard to the torus of this Security Ltstrunteut or the Note without the co-signer's consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who asswues Borrower's obligations
under [his Security Instrwnent iu writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security
Instnuuent utiless, Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind
(except as provided in Section 20) and benefit the successors and assigns of Lender.
14. Loan Charges. Lender. Wray charge Borrower.:fees.for services performed in couuection with Borrower's default,
for the purpose of protecting Leader's ,interest iu the Property and rights under [his Security .lustrwneut," including, but not
lunited to,. attorteys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority
in this Security Instrwnent to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such
fee. Lender may not charge fees that are expressly prohibited by this Security Iustrumeut or by Applicable Law.
If rite. Loan is subject to a law which sets maxinmm loan charges, and that law is finally interpreted so [hat the interest
or other loan charges collected or to be collected iu connection with rite Loau exceed the permitted 1units, thou: (a) any such
loan charge shall be reduced by the unount necessary to reduce the charge to the permitted lhuit; and (b) any sums already
collected from Borrower which exceeded pernitted limits will be refunded [o Borrower. Lender may choose tb make this
refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces
principal, the reduction will be treated as a partial prepaynteut without any prepayment charge (whether or not aprepayment -
charge is provided for under rite Note). Borrower's acceptance of any such refund made. by direct payment to Borrower will
coitsti[ute a waiver of any right of action Borrowermight have arising out of such overcharge.
15. Notices. All notices given by Borrower or Louder in connection with this Securiry Instrwnent must be iu writing.
Auy notice to Borrower in conuectiou with this Security Iustrmuent shall be deemed to have been given to Borrower when
mailed by first class mail or when actually delivered to. Borrower's notice address if sent by other means. Notice to arty Due
Borrower shall constitute notice to all Borrowers utiless Applicable Law expressly requires otherwise. The notice address shall
be the Property Address utiless Borrower has designated a substitute notice address by notice to Lender Borrower shall
promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of
address, then Borrower shall only report a change of address through that specified procedure. There may be only Due
designated notice address under this Security Ius[ruutent at any one thee. Auy notice to Louder shall be given by delivering it
or by mailing it by first class mail to Lender's address stated herein uiiless Louder has designated another address by notice to
Borrower. Any notice in couuection with this Security Instrument shall not be deemed to have been given to Louder wail
actually received by Lender. If any notice required by this Security Iustrumeut is also required under Applicable Law, the
Applicable Law requirement will satisfy the corresponding requirement under this Security Instrwnent.
16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by, federal law
and the law of the jurisdiction iu which the Property is located. All rights and obligations coufained in this Security Instrument
are subject to any requireutents and luuitations of Applicable Law. Applicable Law might explicitly or implicitly allow the
parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by
contract. In the event that any provision or clause of this Security Iustrumeut or the Note conflicts with Applicable Law, such
conflict shall not affect other provisions of this Security Instrwnent or the Note which eau be given effect without the
conflicting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter
words or words of the feminine gender; (b) words iu the singular shall mean and include [he plural and vice versa; and (c) the
word "may" gives sole discretion without any obligation to take'any action.
17. Borrower's Copy. Borrower shall be given one copy of'the Note and of this Security htstruinenC
18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Sectimt 18, "Interest in the
Property" means any legal or beneficial interest in the Property, including, but not lhuited to, those beneficial interests
transferred in a Bond for deed, contract for decd, installiueut: sales. contract or escrow agreetiteut, the intent of which .is-the,
transfer of title by Borrower at a future date to a purchaser. ~ ' ' " . ' '
If all or any part of the Property or any Interest in rite Property is sold or transferred (or if Borrower is not a natural
person and a beneficial interest iu Borrower is sold or transferred) without Lender's prior written consent, Louder may require "
inmtediate payment in full of all swiss secured by this Security Iustrumeut However, this option shall uo[ be exercised by
Lender if such exercise is prohibited by Applicable Law.
NEBRASKA-Sin le Famil Form 028 1/01
9 y-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Bankers Syecems, Inc., St. Cloud, MN Form MD-7-NE 8/17/2000 (page S Of 7 pages)
p -. ~, i i