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20120496G is evidenced by Bonower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on J u 1 y 1, 2 0 42 . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instnunent 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 H a 11 County, Nebraska: Fractional Lot One (1), in Block Eleven (11), of Charles Wasmer's Addition to the City of Grand Island, and its complement, to-wit: All of Fractional Block Eleven (11), of Palmer's Subdivision of Lot Seven (7), of the Coutny Subdivision of the Southeast Quarter of the Southwest Quarter (SE1/4SW1/4) of Section Sixteen (16), in Township Eleven (11) North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska. Parcel ID Number:400107597 which has the address of 15 01 W 0 i v i s i o n S t [Street] Grand I sl and [Cityj, Nebraska 68801 [Zip CodeJ ("Property Address"); TOGETHER WITH all the improvements now or hereafter erected on the property, and a11 easements, appurtenances and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Insm�ment. All of the foregoing is refened to in this 5ecurity Instrument as the n�, � 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 ritle 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 variarions by jurisdiction to constitute a uniform security instrument covering real property. Uniform Covenants. Bonower and Lender covenant and agree as follows: 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. Borrower shall include in each monthly payment, together with the principal and interest as set forth in the Note and any late chazges, a sum for (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for insurance required under pazagraph 4. In any yeaz in which the Lender must pay a mortgage 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 FHA Deed af Trust-NE 4/98 VMP � VMP4R(NE) (1109) Woltere Kluwer Flnencial Servlcea Page 2 of 10