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<br /> of Borcower's covenants nnd agraments under this Securi[y Instrument and the Nate. For this purpose, Borrower
<br /> irrevocably grants and conveys to the Trustee, in trust,with power of sale, the following described property located
<br /> in Nal l County, Nlebraske:
<br /> Lot Five (5), Abrahamson's Subdivision No. Three (3), lacate� oo and being a
<br /> Subd9vision of Block Twenty (20), in Schimmer's Addition �o the City of Grand
<br /> Island, Hall County, Nebraska.
<br /> which has thc address of 1617 N. Cl eburn,Grand I sl and [s�n«,c�ry�, -
<br /> Nebraska 68801 (zip coae� ("Propeny Address");
<br /> TOGETHER WITH all the improvemen[s now or hereaf[er erected on the prop�rty, and all easements,
<br /> appurtenances and fixtures now or hereaher a pan of the property. All replacements and additions shall also be
<br /> covered by this Security Instrument. All of the foregoing is referred to in this Security Instroment as the"Property."
<br /> BQRROWER COV&NANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to
<br /> grant and convey the Property and that the Froperty is unencumbered, except for encumbrnces of record. Borrower
<br /> warrants and will defend generally the title to the Property against all claims and demands, suhject to any
<br /> encumbrances of record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants '
<br /> with limited variations by jurisdiction to constitute a uniform security instrunient covering ttal property.
<br /> Borrowcr 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 of, ar.d
<br /> interest on,the debt evidenced by the Note and late charges due under the Note.
<br /> 2. Monthly Ps�yment of Taxes, Insurance and Other Charges. Bonawer shall include in each monthly
<br /> payment,together with the principal and interest as set forth in the Note and any late charges, a sum for(a)taxes and
<br /> special assessments lcvied or to be leviat against the Propeny, (b) leasehold payments or ground rents on the
<br /> Property, and(c)premiums for insurana required under paragraph 4. In any year in which the I..endcr must pay a
<br /> mortgage insurance premium to the Secretary of Housing and Urban Development ('Sccntary"), or in any year in
<br /> which such premium would have been required if Lender still held the Security in�tcument, each monthly payment
<br /> shall also include either: (i)a sum for the annual mortgage insurance premium to be paid by Lender to the Secrrtary,
<br /> or(ii)a monthly chazge instead of a mongage insurance premium if this Security InstNment is held by tha Secretary,
<br /> in a reasonable amount to be determined by the Secretary. Except for the monthly charge by the Secretary, �hese
<br /> items are called"Escrow Items" and the sums paid to Lendn•are called"�scrow Funds.'
<br /> Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate arnount not to ezceed the
<br /> maximum amount that may be required for Bonower's escrow account under the Real Esnte Settlement Procedures
<br /> Act of 1974, 12 U.S.C. Ssction 2601 er seq. and implementing regulations, 24 C,FR Pazt 3500, as th�y may be
<br /> amended from time to time("RFSPA"),except that the cushi�n or reserve permitted by RESPA for unanticipated
<br /> disbursemcnts or disbursements before tlu Borrower's payinents are availablc in the account may r,ot be based on
<br /> amounts duc for the mortgage insurance premium.
<br /> ��4RINE)�seoa�.o+ P•o•�o�a :�,��uu:C�
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