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201207511 December 04,2091.For this purpose,Borrower irrevocably grants and conveys to Trustee,in trust,with power of sale,the following described property located in HALL County,Nebraska: Legal description attached hereto as Exhibit A and by this reference made a part hereof. which has the address of: 916 W JOHN ST,GRAND ISLAND,NE 68801-6644("Property Address"). TOGETHER WITH all the improvements now or hereafter erected on the property,and all easements, rights,appurtenances,and fixtures now or hereafter a part of the property.All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the"Property."Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument;but,if necessary to comply with law or custom, MERS(as nominee for Lender and Lender's successors and assigns)has the right:to exercise any or all of those interests,including,but not limited to,the right to foreclose and sell the Property;and to take any action required of Lender including,but not limited to,releasing and r,anceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed anci 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 title 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 variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest.Borrower shall pay when due the principal of,and interest on, the debt evidenced by the Note. 2. Payment of Property Charges.Borrower shall pay all property charges consisting of taxes,ground rents,flood and hazard insurance premiums,and special assessments in a timely manner,and shall provide evidence of payment to Lender,unless Lender pays property charges by withholding funds from monthly payments due to the Borrower or by charging such payments to a line of credit as provided for in the Loan Agreement. 3. Fire, Flood and Other Hazard Insurance.Borrower shall insure all improvements on the Property, whether now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire.This insurance shall be maintained ih the amounts,to the extent and for the periods required by Lender or the Secretary of Housing and Urban Development ("Secretary").Borrower shall also insure all improvements on the Property,whether now in existence or subsequently erected,against loss by floods to the extent required by the Secretary.All insurance shall be carried with companies approved by Lender.The insurance policies and any renewals shall 6e held by Lender and shall include loss payable clauses in favor of,and in a form acceptable to, Lender. In the event of loss,Borrdwer shall give Lender immediate notice by mail.Lender may make proof of loss if not made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss to Lender instead of to Borrower and Lender jointly. Insurance proceeds shall be applied to restoration or repair of the damaged Property, if the restoration or repair is economically feasible and Lender's security is not lessened.If the restoration �� I IIIIIIIIIIIIIIIIIIIIII I IIIIIIII IIII Finale Document Services�0228 07/07 (2 of 10) Ne6raska Deed oT Trust HECM FIXED RATE-MERS