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2012�2422
<br />1113062991
<br />HALL County, Nebraska:
<br />AOT FIVE {5), BLOCK &IaBT (8), PARKHILL 9ECOND &UBDIVISION, AN ADDITION
<br />TO THB CITY OF C�RAND ISLAND, HALL COUNTY, NEBRABKA.
<br />which has the address of 2221 W P80ENI7C AVE, ORAND IBLAND, N8 68803 ("Property
<br />Address"); •
<br />TOGETHER WITH all the improvaments now or hereafter eracted on thc property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil, and gas rights and profits, water rights and
<br />stock and �xtures now ar hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the
<br />"Property." Borrowar understands and agrees that MERS holds only lagal title to the interests granted by
<br />Borrower in khis Security Instrument; bul, if necessary to comply with law or custom, MBRS (as nominee for
<br />Lender and Lendar's successors and assigns) has the right: to exercise any or all of those interests, including,
<br />but not limited to, the right to foreclosa and sell the Property; and to take any action required of Lender
<br />including, but not limited to, releasing or canceling this Security Instrument.
<br />BORROWER COVBNANTS that Borrower ia lawfully seized of the estate hereby conveyed and
<br />has the right to mortgage, grant and convey tha Property and that the Property is unencumbered, except for
<br />encumbrances of record. Borrower warrants and will defand generally the title to the Property against all
<br />claims and demands, subject to any encumbrances of record.
<br />1. Payment of Principal, Interest and Late Charge. Borrower shap pay when due the principal of,
<br />and interest on, the debt evidcnced by the Note and late charges due under the Note.
<br />2. Monthly Payments of Taxea, Insurance and Other Charges. Borrower shall includa in each
<br />monthly payment, together with the principal and intcrest as set forth in the Note and any lata charges, an
<br />installment of any (a) taxes and special assessments levied or to be lavied against tha Properiy, (b) leasehold
<br />payments or ground rents on the Property, and (c) premiums for iasurance required by paragraph 4.
<br />Each monthly installment for items (a), (b), and (c) shall equal one-twelfth of tho annual amounts, as
<br />reasonably estimated by Lender, plus an amount sufficient to maintain an additional balance of not more than
<br />one-sixth of the estimated amounts. The full annual amount for each item shall be accumulated by Lender
<br />within a period ending one month before an item would become delinquent, Lender shall hold the amounts
<br />collected in trust to pay items (a), (b), and (c) before they become delinquent,
<br />If at any time the total of the payments held by Lender for items (a), (b), and (c), together with the
<br />future monthly payments for such items payable to Lender prior to the due dates of such items, exceeds by
<br />more than one-sixth the estimated amount of payments required to pay such items when due, and if payments
<br />on the Note are currant, then Lendar shall either refund the excess over one-sixth of the estimated payments
<br />or credit the excass over one-sixth of lhe estimated payments to subsequent payments by Borrower, at the
<br />option of Borrower. If the total of tha paymants made by Borrower for item (a), (b), or {c) is insufficient to
<br />pay the item whan dua, then Borrower shall pay to Lender any amount necessary to make up the deficiency
<br />on or before the date tha item becomes due,
<br />As used in this Sacurity Instrument, "Secretery" means the Secretary of Hausing and Urban
<br />Development or his or har designea. In any year in which tha Lender must pay a mortgage insuranoe
<br />premium to the Secretary, each monthly paymant shell also include either: (i) an installment of the annual
<br />mortgage insurance premium to be paid by Lendar to the Secretary, or (ii) a monthly charge instead of a
<br />mortgage insurance premium if this Security Instrument is held by the Secretary. Each monthly installment
<br />of the mortgage insuranca premium shall ba in an amount sufficient to accumulata the full annual mortgage
<br />insurance premium with Lender ona month prior to the date the full annual mortgage insurance premium ia
<br />due to the Secretary, or if this Security ]nstrument is held by the Secratary, each monthly charge shall be in
<br />an amount equal to one-twelfth of one-half percent of the autstanding principa] balance due on the Note.
<br />If Borrower tanders to Lender the full payment of all sums secured by this Sacurity Instrument,
<br />Borrower's account shall be credited with the balanca remaining for all installmants for items (a), (b) and (c)
<br />FHA Nebraska Deed of Truat - 06/11
<br />�? 391.11 Paga 2 of 8
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