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LOAN #: 122782
<br />vocably grants and conveys to the Trustee, in trust, with power of sale, the following described property
<br />located in Hall County, Nebraska:
<br />Lot Eight (8), J amson Subdivision, in the City of Grand Island, Hail County, Nebraska.
<br />'APN #: 400049864
<br />which has the address of 414 E Delaware Ave, Grand Island,
<br />Nebraska 68801 ( "Property Address ");
<br />[Zip Code]
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances and fixtures now or hereafter a part of the property. All replacements and additions shall
<br />also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument
<br />as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has
<br />the right to grant and convey the Property and that the Property is unencumbered, except for encum-
<br />brances of record. Borrower warrants and will defend generally the title to the Property against all claims
<br />and demands, subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform
<br />covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
<br />property:
<br />Borrower and Lender covenant and agree as follows:
<br />UNIFORM COVENANTS.
<br />1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal
<br />of, and interest on, the debt evidenced by the Note and late charges due under the Note.
<br />2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall include in each
<br />monthly payment, together with the principal and interest as set forth in the Note and any late charges,
<br />a sum for (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold
<br />payments or ground rents on the Property, and (c) premiums for insurance required under paragraph 4.
<br />In any year in which the Lender must pay a mortgage insurance premium to the Secretary of Housing
<br />and Urban Development ( "Secretary"), or in any year in which such premium would have been required
<br />if Lender still held the Security Instrument, each monthly payment shall also include either: (I) a sum for
<br />the annual mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly charge
<br />instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a
<br />reasonable amount to be determined by the Secretary. Except for the monthly charge by the Secretary,
<br />these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds."
<br />Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to
<br />exceed the maximum amount that may be required for Borrower's escrow account under the Real Estate
<br />Settlement Procedures Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24
<br />CFR Part 1024, as they may be amended from time to time ( "RESPA "), except that the cushion or reserve
<br />permitted by RESPA for unanticipated disbursements or disbursements before the Borrower's payments
<br />are available in the account may not be based on amounts due for the mortgage insurance premium.
<br />If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA,
<br />Lender shall account to Borrower for the excess funds as required by RESPA. If the amounts of funds
<br />held by Lender at any time is not sufficient to pay the Escrow Items when due, Lender may notify the
<br />Borrower and require Borrower to make up the shortage as permitted by RESPA.
<br />The Escrow Funds are pledged as additional security for all sums secured by this Security Instru-
<br />ment. If Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be
<br />credited with the balance remaining for all installment items (a), (b), and (c) and any mortgage insurance
<br />premium installment that Lender has not become obligated to pay to the Secretary, and Lender shall
<br />promptly refund any excess funds to Borrower. Immediately prior to a foreclosure sale of the Property or
<br />its acquisition by Lender, Borrower's account shall be credited with any balance remaining for all install-
<br />ments for items (a), (b), and (c).
<br />3. Application of Payments. All payments under paragraphs 1 and 2 shall be applied by Lender
<br />as follows:
<br />First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly
<br />charge by the Secretary instead of the monthly mortgage insurance premium;
<br />Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood
<br />and other hazard insurance premiums, as required;
<br />FHA Nebraska Deed of Trust - 4/96
<br />Elffe Mae, inc. Page 2 of 6
<br />201502082
<br />[Street, City] ,
<br />NEVFHADE 0814
<br />NEVFHADE
<br />03/31/2015 02:50 PM PST
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