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NE seeot ,.. which.b orywrtzrld and Will ng under the taws at.' the United;Mates a Arnedc t . and whose address is . 2Q2 errs -Thud ,St Grand Islands NE x8801 i [1 parower owes Lender the p ticipai sum of 1f f" Thousand Two Hundred and 001100 Dollars (U.S. S"' 55.200.00), Thus debt Is evidenced by BorrowePs note dated the same date as this Security Installment ("Note"}. which prov ch for monthly payments. with the full debt. it not paid iarlier. due and payable on 2-1 -20 This Secutily Insrument s curse to lender. (a) the repayment of the debt 'evidenced by the Nots, with Interest. and as ranswats, extensions and m odiliicatiala; (b) the payment of all other sums, with Interest. advanced under paragraph a to protect the security of this Swafty Instrument and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower don hereby mortgage, grant and convey to Trustee with power of Saps, the following desenbed property bested in Harts - County: Lot Tin X10 }, in Block Five (5�, ire Bet Air Addition to the City of Grand Island, Hail County, Nebraska. . which has the address of tsuent (c;ry). Nebraska 00803 ("Property Address'); [Stnsj IrP Coos) TOGETHER WITH all the Improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, roys". mineral, oil and gas rights and profits. water rights and stock and all fixtures now or hereafter a pad of the property. AN replacements and additions shall also be covered by this Security Instrument. AN of the foregoing is referred to in this Security insirumartt as the "Property". BORR0IMER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, 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 -all clams and demands, subject to any encumbrances of record. 1. Payment of Principal, Interest and . Late Charge. Borrower shall pay when due• the principal of, and interest on. the debt evidenced by the,Note,and fate charges due under the Note. 2.- Mont* Payments of Taxes, insurance and Other Charges. Borrower shall Include In each monthly,payment, together with the principal and Interest as set forth in the Note and any late charges, an installment of any (a) taxes 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 by Paragraph 4. Each monthly installment for hems (a), (b) and (c) shag equal one-twelfth of the annuid amounts, as reasonably estimated by Lender. plus an amount sufficient to Maintain an additional balance of not more than one -sixth of the estimated amounts. The fug annual amount for each item shall be accumulated by Lender within a period ending one month before an item would become delinquent. Lender Shag holed the eunmrits collected In tr -st.to pay Items (a). (b1' and (_) before.thay hftome de�nqscul, ii at any, time the total of the payments held by Lender for items (a), (b), and (c), together with the future monthly payments for such items payable to Lender prior to the due dates o1 such items, exceeds by more than one•sixth the estimated amount of payments required to pay such items when due, and if payments on the Note are current, then Lender shalt either refund the excess over one -sixth of the estimated payments or credit the excess over one-sixth of the estimated payments to subsequent payments by Borrower, at the option of Borrower. If the total of the payments made by Qonower for item (a). (b), or (c) is insufficient to pay the Rem when due. then Borrower shall pay to Lender any amount necessary to makeup the deficiency an or before the date the itern becomes due. F6175 Cif (04/90) P(QWf) , ll(4124M) 7170053 Na9v t 0 4 r I , i kS r'