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g9 112214 of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located i11 HALL County, Nebraska: THE EAST FORTY-FOUR (44) FEET OF LOT EIGHT (8) , BLOCK FOUR (4) , WINDOLPH'S ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA. which has the address of 1204 WEST JOHN STREET,GRAND ISLAND [s��e�c,c�ry�, Nebraska 6HHO1 [Zip Code] ("Property Address"); TOGETHER WITH all the improvenients now or hereafter erected on the property, and all easements, appurtenaiices and Yixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrunient. All of t1�e foregoing is referred to in diis Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seized of die estate hereby coirveyed and has die right to gant and convey die Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally die title to die Properry against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with linuted variations by jurisdiction to constitute a uiuform security instrument covering real property. Borrower and Lender covenant and agree as follows: UNIFORM COVENANTS. l. 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 mondily payment, together with the principal and interest as set forth in the Note and airy late charges, a sum for (a) taxes and special assessments levied or to be levied against die Property, (b) leasehold payments or ground rents on die Property, and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a mortgage iusurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such prenuum would have been required if Lender still held the Security Instrument, each monthly payment shall also include eitl�er: (i) a sum for the annual mortgage insurance prenuum to be paid by Lender to die Secretary, or (ii) a nionthly charge instead of a mortgage insurance premium if diis Securiry Instrument is held by the Secretary, iu a reasonable amount to be deternuned by the Secretary. Except for the monthly charge by the Secretary, these iteuis are called "Escrow Items" and the sums paid to Lender are called "Escrow Fuuds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed die maximum amount diat may be required for Borrower's escrow account under die Real Estate Settlement Procedures Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they uiay be amended from time to time ("RESPA"), except that the cushion or reserve permitted by RESPA for uiunticipated disburseinents or disbursements before the Borrower's payments are available in the account may not be based on amounts due for the mortgage insurance premium. �-4R�NE) (9604L01 Page 2 of 8 Initials:�� �