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98-' 1�4�88 of Bonower's covenants and agreements under this Security Inslrument and the Note. For this purpose, Borrower irrevocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located in �L County,Nebraska: LOT EIGHT (8) , BLOCK THIRTY ONE (31) , RUSSEL WHEELER'S ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA. which has the address of 412 EAST l OTH STREET, GRAND iSLAND [Street,City], Nebraska 6 8 8 O 1 [Zip Code] ("Property Address"); TOGE1'HER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a pazt of the property. All replacements and additions shall also be covered by this Security Instrument.All of the foregoing is referred to in this Security Instrument as the"Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the tifle to the Property against all claims and demands,subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Borrower and Lender covenant and agree as follows: UNIFORM COVENANTS. 1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, and interest on,the debt evidenced by the Note and late charges due under the Note. 2.Monthly Payment of Taxes,Insurance and Other Charges.Bonower shall include in each monthly payment, together with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special assessmenu levied or to be levied against the Property, (b)leasehold payments or ground rents on the Property,and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a moRgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been required if Lender still held the Security Instrument,each monthly payment shall also include either: (i) a sum for the annual mortgage insurance premium to be paid by Lender to the Secre[ary,or(ii)a onthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a r�na�e.a�to�nt to be determined by the Secretary. Except for the monthly chazge by the Secretary,these items aze called "Escrow Items" and the sums paid to Lender are called"Escrow Funds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the ma�cimum amount that may be required for Bonower's escrow account under the Real Estate Setdement Procedures Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Pazt 3500, as they may be amended from time to time ("RESPA"), except that the cushion or reserve permitted by RESPA for unanticipated disbursements or disbursements before the Bonower's payments are available in the account may not be based on amounts due for ihe mortgage insurance premium. ��4R(NE)(960a).ot Pape 2 ot 8 Initlals: