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200111413 of Borrower's covenantsand agreementsunder this Security Instrumentand the Note. For this purpose, Borrower irrevocablygrants and conveys to the Trustee,in trust, with power of sale, the following describedpropertylocated in Hall County, Nebraska: All that certain parcel of land situate in the County of Hall and State of Nebraska beinV known and designated as Lot 72, LeHeights Fourth Subdivision, in the County of Hall, Nebraska. d, Ho6 15"aq which has the address 0#229 Manchester Rd, [Street] Grand Island [City], Nebraska6 8 8 0 3 [zip Code] ( "Property Address "); TOGETHERWITH all the improvementsnow or hereafter erected on the property, and all easements, appurtenancesind fixtures now or hereaftera part of the property. All replacementsand additions shall also be coveredby this Security Instrument All of the foregoingis referredto in this Securityinstrumentas the "Property." Borrower understandsand agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument;but, if necessaryto comply with law or custom, MERS, (as nomineefor Lenderand Lender's successorsand assigns), has the right: to exerciseany or all of those interests,including, but not limitedto, the right to forecloseand sell the Property;andto takeany actionrequiredof Lenderincluding,but not limitedto, releasingor canceling this Security Instrument. BORROWEICOVENANTahat Borroweris lawfully seizedof the estateherebyconveyedand has the right to grant and convey the Propertyand that the Propertyis unencumberedexceptfor encumbrances)f record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITYINSTRUMENTcombines uniform covenantsfor national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Borrowerand Lendercovenantand agreeas follows: UNIFORMCOVENANTS. 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 late charges due under the Note. 2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall include in each monthly payment,togetherwith the principaland interestas set forth in the Note and any late charges, a sum for (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiumsfor insurancerequiredunderparagraph4. In any year in which the Lendermust pay a mortgage insurancepremiumto the Secretaryof Housing and Urban Development( "Secretary")pr in any year in which such premiumwould have been requiredif Lenderstill held the Security Instrument,each monthly payment shall also includeeither: (i) a sum for the annualmortgageinsurancepremiumto be paid by Lenderto the Secretary, or (ii) a monthlychargeinsteadof a mortgageinsurancepremiumif this Securityinstrumentis held by the Secretary, in a reasonableamountto be determinedby the Secretary. Except for the monthly charge by the Secretary,these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds." Lendermay, at anytime, collect and hold amountsfor Escrow Items in an aggregateamountnot to exceedthe maximum amountthat may be requiredfor Borrower'sescrow accountunder the Real EstateSettlementProcedures Act of 1974, 12 U.S.C. Section2601 et seq. and implementingregulations,24 CFR Part 3500, as they may be amendedfrom time to time ( "RESPA ") ,except that the cushion or reserve permittedby RESPAfor unanticipated disbursementsor disbursementsbefore the Borrower'spaymentsare availablein the accountmay not be basedon amounts due for the mortgage insurance premium. Initials\ (MAN(NE) (980201 Page 2 of 8 m