|
201201358
<br /> i�soosssa
<br /> notz dlted tlie same date as this Secority lvstrument("Note"), which providcs for monthly paymeuts,with
<br /> the full debt, if not paid e�trlier, due and payable on MARCH 1, 2042. This Securiry Instrument secures to
<br /> Lender: (a) the rapayment of the debt evidenced by che Nocc, with intcrest, and all renewals, extensions and
<br /> modificaeions of the Note; (b) the paymenC of all other sums, with interest, advanced imder paragrapl� 7 to
<br /> protect the security of this Secucity Instrument; and (c) the perfonnance of Borrower's covenants aud
<br /> agrccmcnts undcr this Sccurity Inslrument and die Note. Por tliis purpose,Borrower, in considcration of thc
<br /> debt and the trust herein created, irrevocably grants xnd convcys to Trustee, in tmst, witl�powzr of sale, thc
<br /> fullowing dcscribcd property lucatcd in HALL County, Neb[nska:
<br /> LOT NINE (9) , BLOCK TWO (2) , IN WESTERHOFF'S S&COND SUBDIVISION IN THE
<br /> CITY OF GRAND ISLAND, HALL COUNTY, NEHRASRA.
<br /> whicl�has the address of 1712 NORTH HANCOCR AVENtJE, GRAND ISLAND, NE 68803 ('Property
<br />� Address"); �
<br /> TOGL�THER WITkI al] the improvements uow o� he�eafter erec[ed on thc property, and all
<br /> easements, rights, appurtenances, rents, royalties, mineral, oil, and gas righu and profits, wxtcr rights and
<br /> stock and fixtures now or liere2fter a part of the property. All replacements and additions shall also be ��
<br /> covered by Uiis Security Inst�ument. All of the foregoittg is referred to iu this Security Instrumcnt as lhc
<br /> "Property." Borrowcr understands and agrecs that MERS holds only Iegal title to the interests granced by
<br /> Borrowcr in this Security lnstrumcnr, but, if nccessary to comply with law or custom,MERS (as noinincc for
<br /> Lender and Lender's successo�s and�ssigns)has the right to exercise any or all of those interests,including,
<br /> but not ]imited to, the right to foreclose and sell the Property; and to take any action required of Lcndcr
<br /> including, but not limited to, releasing or canceling this Security Instrument.
<br /> BORROW ER COVENANTS tha[Borrowcr is Ixwfully scized of thc esTaTe hereby conveyed and
<br /> has thc right to mortgage, grxnt xnd convcy the Property and thnt the Property is uneucwnbered, except for
<br /> encumhrances uf recurd. Borruwer warrnnts and will defend generally the title to the Property aga�inst all
<br /> claims and dcmands, subject[o any encumbrances of rccord.
<br /> l.Payment of Principal, Interest and Late Charge.Bonower shall pay when due the principal of,
<br /> and interest on,the debt evidenced by the Note and late charges due undec the Note.
<br /> 2. Monthly Paymenis of Taxes, Insuranee xnd Other Charges. Borrowcr vh�ll include in each
<br /> inonthly payment, together with tlie principa] aud iuterest as set fortl� in the Note and any late chxrges, an
<br /> installment of any(a)taxes a�id special assessments levied or to be levied against the Properry,(b) lexschold
<br /> payments or gro�md rents on the Property, and(c)premiums for insurance required by paragraph 4.
<br /> Each inonthly installment for itams(a), (U),and(c)shall equal ono-twclRh of ihe annual 2mounts,as
<br /> rcnsonably cstimatcd by Lc:ndcr,plus xn amount sufficicnt to maintain an additio�al bplance of not more than
<br /> one-sixth of the es[imated amounts. Thc full xnnual amount fur cach item shall be accumulated by Lender
<br /> within a periud c�ding une munth bcforc an itcm would become dclinyucni. Lender shall hold Che amounYs
<br /> collectcd in tmst to ptty items (a), (b), and(c) before they become dclinyucnL
<br /> If at any time the total of the payincnts held by Lender for items(a), (b), and (c),togethe�wi[h the
<br /> future montUly payments for such items payable to Lender prior to the due dates of such items, exceeds by
<br /> more than one-sixth the estimated amoimt of paymeuts required[o pay such items when due, and if payinents
<br /> on the Note are current,then Lender shall cither rcfund the cxcess over one-sixth of the estunated payments
<br /> or credit the excess over one-sixth of the cstimated paymcnts to subsequent payments by Borrower, at the
<br /> option of Borrower. Lf the total of the payments made by Borrower for item(a), (b), or(c) is insufticient to
<br /> pay the item when due,then Bo�rower s1i111 p2y to Lender Any amount neeessary to make up the deticiency
<br /> on or betbre the date the item becomes due.
<br /> As used in tl�is Security Instrument, "Secretary" means the Sea'etary of IIousing and Urban
<br /> Development oc his or her designec. ln any ycar in which the Lender must pay a mortgage insurance
<br /> premium to the Secretary, each monthly paymcnt shall also include either. (i) an installment of the ammal
<br /> mortgage insurance p�emium to be paid 6y Lender to the Secretary, or (ii) a monthly eharge instead of a
<br /> PIIA Nebreska Deed of Tru�t-OfiA 1
<br /> �.'"+'t 391.11 Pagc 2 of 8
<br />
|