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201204115
<br />1111063084
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described proparty
<br />located in HALL County, Nebraska:
<br />LOT 6, BLOCIC 3 IN THE RISPLAT OB RIVERSIDE ACR$3, HALL COIIN'PY, NEBRASRA.
<br />TFiI3 I3 A PIIRCHA3B MONEY DEED OF TRDST
<br />which has the address of 2517 COTTONWOOD RD, c3RAND i3LAND, NE 6B801 ("Property
<br />Address");
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil, and gas rights and profits, water rights and
<br />stock and fixtures now or hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is refened to in this Security Instrument as the
<br />"Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by
<br />Borrower in this Security Instrument; but, if necessary to comply with law or custom, MERS (as nominee for
<br />Lander and Lend�r's successors and assigns) has the right: to exercisa any or all of thosa interests, including,
<br />but not limited to, the right to foreclose 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 COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and
<br />has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for
<br />encumbrances of record. Borrower warrants and will defend 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 evidenced by the Note and late charges due under the Note.
<br />2. Monthly Paymenta of Taxes, Insurance and Other Charges. Borrower shall includa in each
<br />monthly payment, together with the principal and interest as set forth in the Note and any late charges, an
<br />installment of any (a) taxes and special assossments levied or to be levied against the Property, (b) leasehold
<br />payments or ground rents on the Property, and (c) premiums for insurance required by paragraph 4.
<br />Each monthly installment for items (a), (b), and (c) shall equal one-twelfth of tha annual amounts, as
<br />reasonably estimated by Lender, plus an amount sufficient to maintain an additional balanca 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 delin9uent, '
<br />If at any time the total of the payments held by Lender for items (a), (b), and (c), together with the
<br />futura monthly payments for such items payable to Lender prior to the due dates of such items, exceeds by
<br />more.than one-sixlh the estimated amount of payments required to pay such items when due, and if payments
<br />on the Note are current, then Lender shaU either refund the excess over one-sixth of the estimated payments
<br />or credit the excess over one-sixth of the estimated payments 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 insufficient to
<br />pay the itam when due, then Borrower shall pay to Lender any amount necessary to make up the deficiency
<br />on or before the date the item becomes due.
<br />As used in this Security Instrument, "Secretary" means the Secretary of Housing and Urban
<br />Devalopment ar his or her designee. In any year in which the Lender must pay a mortgaga insurance
<br />premium to the Secretary, each monthly payment shall also include either: (i) an inslallment of the annual
<br />mortgege insurance premium to bc paid by Lender 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 mortgago insurance premium shall be in an amount sufficient to accumulate the fu11 annual mortgage
<br />insurance premium with Lender one month prior to the date the full annual mortgage insurance premium is
<br />due to the Secretary, or if this Security Instrumant is held by the Secretary, each monthly charge shall be in
<br />an amount aqual to one-twelfth of one-half percent of the outsta�ding principal balance due on the Note,
<br />FHA Nebruaka Deed oi Trust - 06/11
<br />�} 391.11 Paga 2 of 9
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