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<br />ISLAND, HALL COUNTY. NEBRASRA
<br />which has the address of 331 8 KIMSALL 8T, OxANn I9I�ANn, NE 68801 ("Proparty Address");
<br />TOGETHER WITH all the improvemanta now or hareaftar arectad on the property, and all
<br />easements, rights, appurtenances, renta, royaltlas, mineral, otl, and gas rights and profits, watar rights and
<br />stock and fixtures now or hereafter a part of tha property, All replacements and additions shall. also be
<br />covered by this Security Instrumant. All of the foregoing is referrad to in this Security Instrumant as tha
<br />"Property." Bortower understands and agreas that MERS holds only lagal title to tha intarests granted by
<br />Borrower In this Security Instrumant; but, if necessary to comply with law or custom, MERS (as nominee for
<br />Lender and Lander's successors and assigns) has the right: to exarcise any or all of those interests, including,
<br />but not limited to, the right to foreclose and sell the Property; and to take any action requlred of Lender
<br />including, but not limited to, raleasing or canceling Wis Security Instrument.
<br />BORROWER COVENANTS that Bonower is lawfully saized of the estate hereby conveyed and
<br />has the right to mortgage, grant and convey tha Property and that the Property is unancumbered, except for
<br />encumbrances of record, Borrower wanants and will defend generally the titla to the Property against al1
<br />claims and demands, subject to any eacumbrancas of record.
<br />1. Payment of Principal, Interest and Late Charge. Borrower shall pay whan due the principal of,
<br />and intarast on, the debt evidenced by the Note and late chargea due under the Note:
<br />2. Monthly Payments of Taxes, Insurauce and Other Charges. Borrower shall include in each
<br />monthly payment, together with the principal aad iaterest as aet forth in the Note aad any late charges, an
<br />installmant of any (a) taxes end special asaesaments levied or to be levied against tha Property, (b) leasehold
<br />payments or ground rents on tha Properiy, and (c) premiums for insurance required by paragraph 4.
<br />Each monthly installmant for itams (a), (b), and (c) shall equal ona-twelfth of tho annual amounts, as
<br />reasonably estimated by Lander, plus an amount sufficiant to maiutain aa additional balance of not mora than
<br />one-sixth of the astimated amounts. The full annual amount fot each itam shall be accumulated by Lender
<br />within a period ending one month before an itam would become delinquent. Lender shall hold We amounts
<br />collected in trust to pay items (a), (b), and (c) bafora thay become delinquent.
<br />If at any tirae tha total of the payments held by Lender for items (a), (b), and (c), together with the
<br />future monthly paymants for such itema payabla to Landar prior to the dua dates of such items, axceeds by
<br />mors than one-sixth the estimated amount of payments requ{red to pay such itams whan due, and if paymenta
<br />on the Note are current, then Lender shall either refund tha axcass over one-sixth of the estimated paymenta
<br />or credit the excess over one-sixth of the,estimated payments to subsequent payments by Borrowar, at the
<br />option of Borrower. If the total of tha payments made by Borrower for ltam (a), (b), or (c) is insufficiant to
<br />pay the item when due, then Bonower shall pay to Lendar any amount necessary to make up the deficiency
<br />on or before the date the itam becomes due.
<br />As used in this Security Instrument, "Secratary" means the Secretary of Housing attd Urban
<br />Developmant or his or her designee. In any year in which the Lender must pay a mortgage insurance
<br />premium ta tha Secretary, each monthly payment shall also include either: (i) an installment of the annual
<br />mortgaga insurance premium to ba paid by Lender to the Secretary, or (ii) a monthly charge instead of a
<br />mortgaga insurance premium if this Security Instntment is hald by the Secretary. Each monthly installmant
<br />of the mortgaga insurance premium shall be in an amount sufficient to accumulate the full annual mortgage
<br />insurance premium with Lender one month prior to the date the full anaual mortgage insurance premium is
<br />due to the Secretary, or if this Security Instrument is hald by the Secretary, each monthly charga shall be in
<br />an amount equal to one-twalfth of one-half percent of the outstanding principal balance due an the Note.
<br />If Borrawer tendets to Lender the full payment of all sums securad by this Security Instrument,
<br />Borrower's account shall ba credited with the belance remaining for all installments for items (a), (b) and (c)
<br />and any mortgaga inaurance premium installment tHat Lender has not bacome obligated to pay to the
<br />Secratary, and Lender shall promptly refund any excasa tl�t►ds to Borrower. Tmmediately prior to a
<br />forBClosure sale of tho Property or its acquisition by Lender, Borrower's account shall be crsditad wlth any
<br />FAA Nebraeka Deed of Trpat • 06/1Z
<br />d�+ 391.]A Page 2 af 8
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