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Home My WebLink About20080398NUM PGS 7 DO STA~~r PD S.S CK# SS S' CHG ACCT # ' ' ' ~ 20080398 RETFE GASH_ _R.O.D.CK# RLC'D ~ • RETU NUM ~~"'~" ~~ t ~' / RD. COMP x G'~i ~-may COMPARE ~/~~ CADAS - AO ~ [Space Above This Line For Recording Data] DEED OF TRUST DEFINITIONS ADAMS COUNTY, NE FILED INST. N0. ` 3 9 8 Date - -0 ~ Time/ ~o /~~'l ~~, REGISTER OF DEEDS Words used in multiple sections of this document are defined below and other words are defined ]n Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used iu this docwnent are also provided in Section 16. (A) "Security Instrument" means this document, which is dated ........................ p 1; 31; ~AOQ, • , , • , , , , , , . • , , • . , • . , • , .. , , • , , together wttlt all Riders to this document. (B) "Borrower" is :1.q$$~.$,WRIG.HTANO;JU41.gA•.W.fjIGHj,.HUSBAN.4.ANP.1NlFq ........................................................................ ......................................................................................................................................................... . Borrower is the trustor under this Security Instrument. (C) "Lender" is B?NKOF~OIVIPHAN•,•,,,,,,,••,,,,,,••... Lender is a .GPR?QRATIgN ...................................................................................:....... organized and existing under the laws of .THq STQJ.q AF, f~~$BpSKA . , , , , . • „ • ............................... Leader s address is . P. P. $RX.274. AQN]?HRN,.N$. 68Q32:427.4 ..... . .......................................................................................................................................................... . Lender is the beneficiary under this Security Instrument. (D) "Trustee" is BANK OF ~ONIPHAN• PO BOX 270,~ONIPHAN, NE 68832 (E) "Note" nleatts the promissory note signed by Borrower and dated 9,1; 31: z0Q$„ • . • • . , • , . • . • • • . • . • . • • ..............................The Note states that Borrower owes Leader P.NE.HUNORgq TNIRT.Y. $1X.THQUSANA ANP. N.gfl.gq ......... . . . .......... . .. . . • • • • • • • • • • • • • • • • • .. • • • • . • ... • • • • • • • • • • • • • • • • • • • • • • • • • ............................ Dollars (U. S. $ .1,36,000,00, • • • , • .. • • , . • • . • . • .. , • .) plus interest. Borrower has protltised to pay this debt in regular Periodic Payments and to pay the debt in full not later than ..................... 04.3A-2Ag8... , , , .. , ....... • • • • • (F) "Property" meatts the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Iustrwmettt, plus interest. (l3) "Riders" means all Riders to this Security Instrwment that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: ^ Adjustable Rate Rider ^ Condominiwn Rider ^ Second Home Rider ^ Balloon Rider ^ Planned Unit Development Rider ^ Other(s) [specify] ....................... ^ 1-4 Family Rider ^ Biweekly Payment Rider (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, tton-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or sinl]lar organization. (K) "Electronic Funds Transfer" means any transfer of fw>ds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transact]ons, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (]]) coudemutation or other taking of all or any part of the Property; (iii) conveyance in lieu of condeumtation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means ii~surauce protecting Lender against the nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount due for (]) principal and interest under the Note, plus (ii) any amounts wider Section 3 of this Security Instrwment. (I') "RESI'A" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its umplementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Bankers Systems, Inc„ St, Cloud, MN Form MD-1-NE 8/17/2000 ref: 1 /2001 (pnge I o/' 7 pnges) ~IIIIIAIIIIIIII~fdll /ot 7 ;0080398 TRANSFER OF RIGHTS IN THE PRUI'ERTY This Security Instrunteut secures to Leader: (i) the repayment of the Loau, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in tlte .................:.................................RF.GIS.T6B.qF.qE1:.QS..................................................... of [Type of Recording Jurisdiction] . A4AM$.CP.I(NTY ............................................................................: [Name of Recording Jurisdictionl A TRACT DF LAND SITUATED IN THE NORTH HALF (N 112) OF THE NORTHEAST DUARTER (NE 114) OF SECTION TWENTY•SIX (281, TOWNSHIP SEVEN pl NORTH, RANGE TEN (10) WEST OF THE 6TH P.M., ADAMS COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING SIX HUNDRED TWENTY• FOUR AND TWENTY_FIVE HUNDREDTHS (824.25) FEET NORTH OF THE SOUTHEAST CORNER OF THE NORTH HALF I(N 112) OF THE NORTHEAST QUARTER (NE 114); THENCE WEST TWO HUNDRED EIGHT (208) FEET; THENCE NORTH, PARALLEL TO EAST SECTION LINE, ONE HUNDRED (100- FEET; THENCE EAST TWO HUNDRED EIGHT (208) FEET; ANO THENCE SOUTH DN EAST SECTION LINE TO THE PLACE OF BEGINNING, EXCEPT THE TRACT ON THE EAST THEREOF, DEEDED TD STATE FOR ROAD wlticlt currently Itas the address of ............................................. 2560,SD;,BALTIMORE,,,,..,,,,,,,,,,,. ............................. [street[ ............................ HASTINGS.. ............ ,Nebraska ..................... ................. , ... (Pr p y Address ) 68gg1 o ert " [Cit ] Y .............. [Zip 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 shall also be covered by this Security Iustrutneut. All of the foregoing is referred to in this Security Iustrutneut 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 eucwnbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encuutbrances of record. THIS SECURITY INSTRUMENT combines uuifonn covettauts for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uuifonu security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. I'ayineiit 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 Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Paynteuts due under the Note and this Security Iustrutneut shall be made iu U.S. currency. 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 Iustrutneut be made in one or more of the following forms, as selected Uy 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 Wray be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the paynteut or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring. the Loau current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender 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 aced not pay interest ou unapplied funds. Leader may hold such uuapplied funds until Borrower stakes paynteut to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. 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 Notc and this Security Instrument or perfonniug the covenants and agreements secured by this Security Ltstrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Leader shall be applied iu 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 iu the order in which it became due. Any remaining amounts shall be 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 Leader receives a payment front Borrower 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 Paymcut is outstanding, Lender may apply any paynteut received front Borrower 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 exists 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 prepayineut charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change tltc amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower 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 Instruutcnt as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premimus for any and all insurance required by Leader under Section 5; and (d) Mortgage Insurance premiums, if any, or any Bunts payable by Borrower to Lender iu 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 teen of the Loan, Lender may require that Conuuunity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Leader all notices of amounts [o be paid under this Section. Borrower shall pay Leader the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to 4tay to L,euder Funds for and or all Escrow Items at any time. Any such waiver Wray only be to writing.- In:the event of such waiver, Borrower shall pay directly, when and where payable, the atuounts due for any Escrow Items for which payment of Funds ltas been waived by Leader and, if Lender requires, shall furnish to Leader receipts` evidencing such payment within such time period as Lender may require. Borrower's obligation- to stake such payments and,to prpvidc receipts shall for all purposes be deemed to be a covenant and agreenteut contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If .Borrower is obligated to pay Escrow Items directly, pursuant"'to a wa'ivcrt :mod Borrower NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT q-_FwCtu,~,Q28, 1/01 ~. /. . Bankers Systems, Inc„ St. Cloud, MN Form MD-1-NE 8/77/2000 (Ixrge•2 of 9pngesf ~ / 20080398 fails to pay the amount due for an Escrow Item, Lender Wray exercise its rights under Section 9 and pay such amount and Borrower shalt thou be obligated under Section 9 to repay to Lender any such auiouut. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender atl Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds iu au ammount (a) sufficient to permit Leader to apply the Funds at the time specified wider RESPA, and (b) not to exceed the tnaxintutn amount a leader eau require under RESPA. Lender shall estimate the amount of Puuds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held iu au institution whose deposits are insured by a federal agency, instrwnentality, or entity (including Lender, if Lender is an institution whose deposits arc so insured) or in any Federal Home Loau Batik. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Leader to stake such a charge. Uiiless au agreement is made m writing or Applicable Law requires interest to be paid on the Funds, Leader shall not be required to pay Borrower any interest or earnings ou the Funds. Borrower and Lender eau agree in writing, however, that interest shall be paid ou the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower-for the excess funds in accordance with 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 amowtt necessary to make up the shortage in accordance with RESPA, but in uo store than 12 tmoutltly payments. If there is a deficiency 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 to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Iustrwmeut, Lender shall promptly refund to 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 Iustrwmeut, leasehold payments or ground rents on the Property, if any, and Contntuttity Association Dues, Fees, and Assessntettts, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided iu Section 3. Borrower shall promptly discharge any lien which has priority over [his Security Instrument utiless Borrower; (a) agrees iu writing to the payment of the obligation secured by the lieu in a manner acceptable to Leader, but oiily so long as Borrower is performing such agreement; (b) contests the lieu in good faith by, or defends against enforcement of the lien iu, legal proceedings which in Lender's opinion operate to prevent the enforcetneut of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lieu an agreement satisfactory to Lender subordinating the lieu to this Security Iustrunent. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Louder may give Borrower a notice identifying the lien. Within 10 days of the date ou which that notice is given, Borrower shall satisfy the lieu or take one or more of the actions set forth above in this Section 4. Louder Wray require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lcudcr in conuectiou with this Loan. 5. Property Insurance. Borrower shall keep the intproventents now existing or hereafter erected oti the Property insured against loss by fire, hazards included within the tern "extended coverage," and arty outer hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This ntsurance shall be maintained in the amounts (including deductible levels) and for the periods that Leader requires. What Lender requires pursuant to the preceding sentences can change during the tenor of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised uttreasottably. Louder may require Borrower to pay, in conuectiou with this Loan, either: (a) a one-tiate charge for flood zone detenninatiou, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time rentappiugs or similar changes occur which reasonably might affect. such determination or certification. Borrower shall also be responsible for the paynteat of any fees imposed by the Federal Entergeucy Management Agency iu connection with the review of any flood zone detenniuatiott resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender tray obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but Wright 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 than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained aright significantly exceed the cost of insurance that Borrower could have obtained. Any atmouuts disbursed by Leader under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate front the date of disbursement and shall be payable, with such interest, upon notice front Lender to Borrower requesting paynteat. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall Waste Lender as mortgagee and/or as an additional loss payee. Lcudcr shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lcudcr, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall Haute Leader as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Louder. Lender may make proof of loss if not made promptly by Borrower. Uiiless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Leader, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Leader shall have the right to hold such insurance proceeds until Leader 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. Leader Wray disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Uiiless au agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Leader shall not be required to pay Borrower any interest or earnings ou such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the iusurauce 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 runts secured by this Security Iustruntent, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for iu Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claims and related matters. If Borrower does not respond widtin 30 days to a notice front Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. Iu either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any iusurauce proceeds iu an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned prentiunts paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender Wray use the ntsurance proceeds either to repair or restore the Property or to pay atnouuts unpaid under the Note or this Security Iustruntent, whether or not then due. 6. Occupancy. Borrower stall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Iustrmmeut and stall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, utiless Leader otherwise agrees in writing, which consent shall not be unreasonably withheld, or utiless extenuating circuutstances exist which are beyond Borrower's control. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 7101 Bankers Systems, Inc., Si, Cloud, MN Form MD-1-NE 8/17/2000 (page 3 of 7JXtgesJ ~~~ ~ , 20080388 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste ou the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Utiless it is determined pursua~tt to Section 5 that repair or restoration is cot economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds arc paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property otily if Lender has released proceeds for such purposes. Leader may disburse proceeds for the repairs and restoration in a single payment or is a series of progress payments as the work is completed. If the insurance or condeuutation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the complettou of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Leader may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall 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, nusleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loau. Material representations include, but are not lumited to, representations 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 covettacts and agreements contained is this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding iu bankruptcy, probate, for condemmatiou or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, thou Lender Wray do and pay for whatever is reasonable or appropriate to protect Lender's interest iu the Property and rights under this Security Instrutneut, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but arc not limited to: (a) paying any Bunts secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water front pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is cot 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 amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instiutneut. These amounts 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 payment If this Security Instrument 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 wiles Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loau, Borrower shall pay the prentiunts required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available front the mortgage insurer that previously provided such insurance and Borrower was requited to make separately designated paynteuts toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Iusurauce previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously is effect, from an altercate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as anon-refundable loss reserve iu lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loau is ultitnately paid in full, and Leader shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve paynteuts if Mortgage Iusurauce coverage (iu the amount and for the period that Leader requires) provided by an insurer selected by Leader again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the prentiutns required to maintain Mortgage Insurance in effect, or to provide anon-refundable loss reserve, until Lender's requirement for Mortgage Iusurauce ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in 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 the Loau as agreed. Borrower is not a party to the Mortgage Insurance, Mortgage insurers evaluate their total risk on all such iiLSUrance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terns 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 payments using any source of funds that the mortgage insurer may have available (which may include funds obtained front Mortgage Insurance premiums). As a result. of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterved as) a portion of Borrower's payments for Mortgage Insurance, iu 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 prentiumts paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts 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 refund. (b) Any such agreements will not affect the rights Borrower has--if any--with respect to the Mortgage Insurance under the Homeowners Yrotection 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 htsurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Leader shall have the right to hold such Miscellaneous Proceeds until Leader 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 Wray pay for the repairs and restoration in a single disbursement or iu a series of progress payments as the work is completed. Unless ac agreement is made in writing or Applicable Law requires interest to be paid oc such Miscellaneous Proceeds, Louder shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the scuts secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Sudt Miscellaneous Proceeds shall be applied iu the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sutras secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3028 1/01 Bankers Systems, Inc., St. Cloud, MN Form MD-1-NE 8/17/2000 (Extge 4 of 7 jxrges) of7 , , .. X0080398 In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property inmmediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sutras secured by this Security Iustrmuent inunediately before the partial taking, destruction, or loss iu value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured inunediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss iu value. Any balance shall be paid to Borrower. Ia the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sutras secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree iu writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument 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 Party (as defined in the next sentence) offers to make au award to settle a claim for dammages, Borrower fails to respond to Leader within 30 days after the date the notice is given, Leader is authorved to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sutras secured by this Security Instrument, whether or not then due. "Opposing Party" means tltc third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material ititpainment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided iu Section 19, by causing the action or proceeding to be dismissed with a ruling that, iu Lender's judgment, precludes forfeiture of the Property or other material itnpairuent of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the intpairnent of Lender's interest itt the Property are hereby assigned and shall be paid to Leader. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied is the 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 atuorti7atioa of the sums secured by this Security Iastrunneut granted by Leader to Borrower or any Successor in 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 coauneuce proceedings against any Successor in Interest of Borrower or to refuse to extend tithe for paynteut or otherwise modify atmortvatiott of the sutras secured by this Security Iustrumeut by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Leader in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then 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 wlto co-sighs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terns of this Security Instrwneat; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terns of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in 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 Instrument 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 Leader. 14. Loan Charges. Lender Wray charge Borrower fees for services performed iu connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instruiment, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instruaent to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender Wray not charge fees that are expressly prohibited by this Security Instrunteut or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected is connection with the Loan exceed the peruitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the peruitted limit; and (b) any sums already collected from Borrower which exceeded peruitted limits will be refunded to Borrower. Lender may choose to 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 prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Leader in connection with this Security Instrument must be is writing. Auy notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when retailed by first class retail or when actually delivered to Borrower's notice address if scut by other means. Notice to any one Borrower shall constitute notice to all Borrowers utiless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Iorrower 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 otily report a change of address through that specified procedure. There Wray be only one designated notice address under this Security Irestrutueut at any one time. Auy notice to Lender shall be given by delivering it or by mailing it by first class mail to Leader's address stated herein unless Leader has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been .given to Leader until 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 Instrunneut. 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 contained in this Security Instrunteut are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it Wright be silent, but such silence shall not be construed as a prohibition against agreenteut by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which eau be given effect without the conflicting provision. As used in this Security Iustrumeut: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the fentiniue gender; (b) words in the singular shall Wrenn and include the 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 Iustruntent. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred iu a bond for deed, contract for deed, installment sales contract or escrow agreement, 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 iu the 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, Leader Wray require ireumediate payment is full of all sutras secured by this Security Iustruntent. However, this option shall not be exercised by Leader if such exercise is prohibited by Applicable Law. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 Bankers Systems, Inc., St. Cioud, MN Form MD-1-NE 8/17!2000 (pzge 5 of 7pzges) ,~. /af7 - 20080398 If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is givcu in accordance with Sectiou 15 within which Borrower must pay all sums secured by this Security Iustruntent. If Borrower fails to pay these sums prior to the expiration of this period, Leader may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrumcut discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to airy power of sale contained in this Security Instrumcut; (b) such other period as Applicable Law might specify for the terniuation of Borrower's right to reinstate; or (c) entry of a judgnteut enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Leader all Bunts which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrutneut, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrwmeut; and (d) takes such action as Lender may reasonably require to assure that Lender's interest itt the Property and rights under this Security Instrument, and Borrower's obligation to pay the sutras secured by this Security Iustrutnent, shall continue unchanged. Leader may require that Borrower pay such reinstatement sums and expenses iu one or more of the following focus, as selected by Lender: (a) cash; (b) money order; (c) certified check, batik 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. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Setwicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) eau be sold one or Wrote tithes without prior notice to Borrower. A sale Wright result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under Cite Note and this Security Instrumcut and performs other mortgage loan servicing obligations under the Note, this Security Instrumcut, and Applicable Law. There also might be one or more cltauges of the Loau Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the nature and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loau Servicer other titan the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Leader Wray conmmeuce, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises front the other parry's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Leader has notified the other parry (with such notice given in compliance with the requirements of Sectiou 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. T'he notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration givcu to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used iu this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flaummable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fornaldeltyde, and radioactive materials; (b) "Enviromneutal Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or enviromnental protection; (c) "Enviromneutal Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Enviromneutal Cleanup. Borrower shall not cause or permit the prescuce, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is itt violation of any Enviromneutal Law, (b) which creates au Enviromneutal Condition, or (c) which, due to the prescuce, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of Cite Property (including, but not limited to, hazardous substances in conswtter products). Borrower shall promptly give Lcudcr written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any F,nviromnental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the prescuce, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower leans, or is notified by any governnental or regulatory authority, or any private party, that any removal or other remediatiou of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Leader for au Enviromneutal Cleanup. NON-UNIFORM COVENANTS. Borrower and Lcudcr further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is, given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Leader at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies ptovided in this Section 22, including,. but not limited to, reasonable attorneys' fees and costs of title evidence. If the power of sale is invoked, Trustee shall record a notice of default in each cowtty in which any part of the Property is located and shall mail copies of such notice in the manner prescribed by Applicable Law to Borrower and to the other persons prescribed by Applicable Law. After the time required by Applicable Law, Trustee shall give public notice of sale to the persons and in the manner prescribed by Applicable. Law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public annowtcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of Cite statetneuts made therein. Trustee shall apply Cite proceeds of Cite sale in Cite following order: (a) to all costs and expenses of exercising Cite power of sale, and the sale, including the payment of the Trustee's fees actually incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 Bankers Systems, Inc., St. Cloud, MN Form MD-1-NE 8/17/2000 (jxige G of 7 jXtgesJ ~ a~ ~ ~A080398 23. Reconveyance. Upon payment of all sums secured by this Security .Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvcy the Property without warranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconveying the Property, but otily if the fee is paid to a third party (such as the Trustee) for services rendered and the charging of the fee is permitted under Applicable Law. 24. Substitute Trustee: Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by Applicable Law. 2_5, Request for Notices. Borrower requests that copies of the notice of default and sale be scut to Borrower's address which is the Property Address. BY SIGNING BELOW, Borrower accepts and agrees to the terns and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. [Space Below This Line For Acknowledgment] :................................. (Seal) -Borrower ::................................. (Seal) -Borrower STATE OF NEBRASKA / } ,/~ ,,,,, County of .....................['~!~%14~!.! ~........ The foregoing instrument was acknowledged before me this .01;31:2008 . . .......... . ....... . ......... . . ............................. ...................................(date) by ~lE$S.EE3: WAI.('HT;,lU4lEA..tN.RIGyT,HUS.BAN.4ANP.WIFE...................................................... ............................................. . ....... . ............................................ (name of person acknowledged). My Conunission expires: ~- 5-!/ ~NOtar Public Y GENERAL NOTARY State of Nebraska DEBRA J. BARTUNEK My Comm. Exp. Feb, 5, 2011 NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Bankers Systems, Inc„ St, Cloud, MN Form MD-1-NE 8!17/2000 7 0/ 7 Form 3028 1/01 (Fnge 7o(7Hzges)