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r � � 2� 1 ��4245 �.. L�T SIXTEEN�16},BL�CI{�NE(1),KNICKREHM FI�TH ADDITIUN Ta THE CITY�F GRAND ISLAND,HALL C�UNTY,NEBRASKA. Tax Parcel No.4��053519 which has the address af, 111 E 23RI�ST,GRAND ISLAND,NEBRASKA 688�1 (herein"Property Address"}; T�GETHER WITH all the unprovements now nr hereafter erected on th�property,and all easemen�s, appurtenances and f x�ures now or hereafter a part of the proper�y.AlI replacements and additions shall also be co�ered by this Security Instrument. A�1 of the fvregoing, is referred to in this Secur�ty Instrument as the "Property." BaRR�WER C�VENANTS that Borrower is lawfully seised of the esta.te hereby con�eyed and has the right to grant and con�ey the Property,and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend general�y the title to the Property against aIt claims and demands, subject ta encumbrances of record. THIS SECURITY INSTRUMENT combines unifarm co�enanfs for natinnal use and non-unifvrm co�enants with Iimited �ariatians by jurisdiction to constitute a unifarm security instrument co�ering real properfy. LTNIF�RM C�VENANTS.Bvrrower and Lender covenant and agree as fo�lows: 1. Payment of Principal. Borrower shall pay when due the principal of the debt e�idenced by the Note. Z. Barrower Not Reieased; Forbearance By Lender Not a VVai�er. Extension of�he time af payment af the sums secwed by #his Security Instrument gran#ed by Lender to any successar in interest of Borrower shall not opera.#e t�release the�iability of the original Borrower or Borrower's successor in interest. Lender shall nat be required to commence proceedings against any su�cessor in interest ar refuse to extend time for payment or otherw�se modify amartization of the sums secured by this Security Instrument by reason of any demand made by the original Bvrrower or Borrower's suecessors in interest.Any forbearance by Lender in exercising any r�ght or remedy shali not be a waiwer of or preciude the exercise of any right or remedy. 3. Successors and Assigns Baund; Joint and Se�eral Liabi�ity; Co-signers. The coWenants and agre�ments of this Security Instrument sha�l brnd and benefit the successors and assigns of Lend�r and Borrower. Barr�wer's co�enants and agreements shall be joint and se�eral. Any Borrawer who co-signs this Secur�i�y Instrument but does not execute the Note:�a} is co-signing this Secur�ty Instrument only to mortgage, gran�and con�ey that Banrower's interest in the Property under the terms of this Security Znstrument;(b} is not persanal�y obligated to pay the sums secured by this Security Ins�rument; and �c} agrees that Lender and any vther Borrower may agree to extend, madify, forbear or rnake any accommodations with regard to the term of this Security Instrumen#or the N�te wi�hout�hat Borrower's cansent. 4. Not�ces. Any notice to Borrower pro�ided far in this Security Instrumen� shall be gi�en by delivering it ar by mailing it by fu�st class mail unless applicable law requires use of another method. The notice sha11 be directed to the Property Address or any other address Borrower designates by natice to Lender. Any notice to Lender shatl be gi�en by f rst class mail ta: Department of Hausing and Urban De�e�opment, Attention: Single Family Notes Branch,451 Se�enth S�reet SW,Washington,DC�4410 or any address Lender designates by notice to Borrawer.Any notice pro�ided for xn this Security Instrument shall be deemed to ha�e been gi�en ta Borrower or Lender when given as pro►vided in�his paragraph. 5. Ga�erning Law; SeWerahility. This 5ecurity Instrument shall be go�erned by Federal �a►w and the lavw of the jurisdiction in which the Property is �ocated. In the e�ent that any pr��ision or clause of this Security Instrument or the Note cvnflic�s with applicable Iaw, such conflict shall not afFect other proWisions of �run-x�n�i ooszo�s �56 �9o�zsoos Page 2