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� �0�� 20120$715 40120814� T'his debt 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 OCtobe� 1. 2042 . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and a11 renewals, extensions and modifications of the Note; (b) the payment of a11 other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Bonower's covenants and agreements under this Security Instrument and the Note. For this purpose, Bonower irrevocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located in H a 1 1 County, Nebraska: Lot Eight (8). Block Ninety One (91). Wheeler and Bennett's Fourth Addition to the City of Grand Island. Hall County. Nebraska Parcel ID Number: Tax i. D. #4�0138387 which has the address of 312 E 16th StP'eet [s�reec� Grand Isl and [city�, Nebraska 6$801 [Zip Code] ( "Property Address"); 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 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 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 Bonower 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 title to the Property against a11 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. Bonower and Lender covenant and agree as follows: UNIFORM COVENANTS. 1. Payment of Principal, Interest and Late Charge. Borrower sha11 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 chazges, a sum for (a) taaces 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 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 mortgage insurance premium to be paid by Lender to the Secretary, or (ii) 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 chazge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds." 12-o9-ooaoo� �-4N(NE) (oao7) Page 2 ot e � ♦ � i