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201209649 of Borrower's covenants and agreements under this Security Instrument and the Note. For lhis purpose, Borcower irrevocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located in Hall Counly, Nebraska: SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF which has the addcess of 514 xennedy el [Street� Grand Island [Ciry], Nebtaska 68803 [ZipCode] ("PropertyAddress"); TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a part of ihe property. All replacements and additions shall also be covered by dtis Security Instrument. All of the foregoing is referred to in this Security Instrvment 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 ro comply witL law or custom, MERS, (as nominee For Lender and Lender's successors and assigns), has the righh to exercise any or all of those interests, including, but no[ limited to, the right to foreelose a�d sell the Property; and to take any action required of Lender including, but no[limited to, releasing or canceling this Security Instrument. BORROWER COVENANTS tLat Borrower is lawfully seized of the estate hereby conveyed and has tLe right to grant and com�ey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warraitts and will defend generally the tlfle to the Properly against all claims and demands, subjec[ to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for na[ional use and nou-uniform covenanfs with limited variations by jurisdiction[o constitute a uniform security insNument covering real pmperty. Borrower and Lender covenant and agree as follows: LTNIFORM COVENANTS. 1. Payment of Prmcipal, Interest and Late Charge. Borrower shall pay when due We principal of, and interest on, the debt evidenced by the Note and late charges due under the Note. 2. Month�y Payment of Taxes, Inaurance and Other Charges. Borrower shall include in each monthly payment, togetLer wi�}t the principal and interest as set forth in [he Note and any la[e charges, a sum for (a) tazces and special assessmenLs levied or to be levied against [he Property, (6) leasehold payments or ground rents on the Property, and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a mortgage insurance premium to the Secretary of Housing and Urban Developmen[ ("Secretary"), or in any year in which such premium would have been required if Lender still held the Securlty Iostrument, each montlily payment shall also include either: (i) a sum for the annual mortgage insurance premium ro be paid by Lender ro the Secretary, or (ll) a montlily charge instead of a mor[gage insurance pcemium if tLis Security InsWment is 6eld by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the monthly charge by the Secretary, these items aze called 'Bscrow Items" and the swns pald to Lender are called 'Bscrow Funds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the muctmum amount Ihat may be tequired for Bortawer's escrow accoun[ under the Real Estate Settlement Procedures Act of 1974, 1Z U.S.C. Section 2601 et seq. and implemenflng regulaflons, 24 CFR Pazt 3500, as ihey may be amended from time to time ("RESPA"), except that ihe cusltion or reserve permitted by RESPA for unanHclpated disbursements or disbursemenis before ihe Borrower's payments are availabl m�ccount may n be based on amounts due for the mortgage insurance premium. 89704688 � ' � �N(N�(9802).01 Pape 2 of 8 m