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20120�65� and agreements. For this purpose, Bonower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in HALL County, Nebraska: IDT 'IEII� (3) � C�,LUARY S'C�IVISIQV' IN 'III� C�.'IY C�' C�?Pl� ISL�, HALL Q�.1�TlY, 1� A.PN.: 400028999 which has the address of GR.AND ISLAND [City] 1403 HOWARD PLACE [street] , Nebraska 6 8 8 0 3 ("Property Address"): [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions sha11 also be covered by this Security Instrument. All of the foregoing is refened to in this Security Instrument as the "Property." Bonower understands and agrees that MERS holds only legal title to the interests granted by Bonower 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 or canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised 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 Bonower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRiJMENT combines uniform covenants for national use and non-uniform covenants with limited vaziations by jurisdiction to constitute a uniform security instrument covering real properiy. UNIFORM COVENANTS. Bonower and Lender covena.nt 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 Tazes, Insurance, and Other Charges. Bonower shall include in each monthly payment, together with the principal and interest as set forth in the Note and any late charges, 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 paragaph 4. In any year in which the Lender must pay a mortgage insura,nce premium to the Secretary of Housing and Urban Development ("Secretary"), or in any yeaz in which such premium would have been required if Lender still held the Security Instrument, ea.ch monthly payment sha11 also include either: (i) a sum for the annual mortgage insurance premium to be paid by Lender to the Secretary, or (u) a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the monthly charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the maximum amount that may be required for Bonower's escrow account under the Rea1 Estate Settlement Procedures Act of 1974, 12 U.S.C. §2601 et sea. and implementing regulations, 24 CFR Part 3500, as they may be amended FHA NEBRASKA D� OF TRUST - MER,S podNeg►e � NEDOTZ.FHA 07/03/12 Page 2 of 9 www.docmagic.com II I II I III I II II I I II IIII I I II I I II I II II I I I I I I II I I I II I III III