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State of NEBRASKA Prepared By: Cherry Creek Mortgage Co., Inc. 7600 East Orchard Road, Suite 250 -N Greenwood Village, CO 80111 Record and Return to: 1st Reverse Mortgage, USA 3609 S. Wadsworth Blvd Suite 500 Lakewood, CO 80235 Attn: Final Docs r ow .: t (Space Above This Line For Recording Data 21 FHA Case No. 321- 3319409 -962 Loan No. 907907410 MIN: 1000302-0907907410-9 ADJUSTABLE RATE HOME EQUITY CONVERSION SECOND DEED OF TRUST THIS INSTRUMENT IS A DEED OF TRUST WHICH SECURES FUTURE ADVANCES THIS DEED OF TRUST ( "Security Instrument" or "Second Security Instrument ") is made on July 2, 2014. The trustor is Michael S. Gray and Alice M. Gray, husband and wife, whose address is 960 S Oak STREET, Grand Island, Nebraska 68801 ( "Borrower "). The trustee is the SENIOR OFFICIAL WITH RESPONSIBILITY FOR SINGLE FAMILY MORTGAGE INSURANCE PROGRAMS IN THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FIELD OFFICE WITH JURISDICTION OVER THE PROPERTY DESCRIBED BELOW, OR A DESIGNEE OF THAT OFFICIAL ( "Trustee "). The beneficiary is the Secretary of Housing and Urban Development, whose address is 451 Seventh Street, SW, Washington, DC 20410 ( "Lender" or "Secretary"). Borrower has agreed to repay to Lender amounts which Lender is obligated to advance, including future advances, under the terms of a Home Equity Conversion Loan Agreement dated the same date as this Security Instrument ( "Loan Agreement "). The agreement to repay is evidenced by Borrower's Adjustable -Rate Note dated the same date as this Security Instrument ( "Second Note "). This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Second Note, with interest at a rate subject to adjustment (interest), and all renewals, extensions and modifications of the Note, up to a maximum principal amount of One Hundred Thirty Thousand, Five Hundred Dollars and Zero Cents (U.S. $130,500.00); (b) the payment of all other sums, with interest, advanced under paragraph 5 to protect the security of this Security Instrument or otherwise due under the terms of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Second Note. The full debt, including amounts described in (a), (b), and (c) above, if not due earlier, is due and payable on March 12, 2102. 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: See legal description as Exhibit A attached hereto and made a part hereof for all intents and purposes which has the address of 960 S Oak STREET, Grand Island, Nebraska 68801, ( "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." C Pave I of 9 IIECM Second need Of Trust