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<br />of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower
<br />irrevoca tc s and conveys to the Trustee, in trust, with power of sale, the following described property located
<br />in L L-0-T— Hall County, Nebraska:
<br />t dTlu Four (4), in Block Six (6), in George Loan's Subdivision
<br />of the South part of the West Half of the Northwest Quarter of Section Ten
<br />(10), Township Eleven (11) North, Range Nine (9) West of the 6th P.M., Hall
<br />County, Nebraska and the Easterly Thirty Feet (30') of vacated Poplar Street
<br />abutting and adjacent to Lot Four (4), in Block Six (6), in George Loan's
<br />Subdivision as vacated by Ordinance No. 5380 recorded in Book 24, Page
<br />499 in the Register of Deeds Office, Hall County, Nebraska.
<br />Item #: 400060434
<br />which has the address of 803 E 14th St [Street]
<br />Grand Island [City], Nebraska 68801 [Zip Code] ( "Property Address ");
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances and fixtures now or hereafter a part 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 Instrument as the "Property."
<br />Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this
<br />Security Instrument; but, if necessary to comply with law or custom, MERS, (as nominee for Lender and Lender's
<br />successors and assigns), has the right: to exercise any or all of those interests, including, but not limited to, the right
<br />to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing or
<br />canceling this Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject 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 instrument covering real property.
<br />Borrower 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, and
<br />interest on, the debt evidenced by the Note and late charges due under the Note.
<br />2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower 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 levied or to be levied against the Property, (b) leasehold payments or ground rents on the
<br />Property, and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a
<br />mortgage insurance premium to the Secretary of Housing and Urban Development ( "Secretary"), or in any year in
<br />which such premium would have been required if Lender still held the Security Instrument, each monthly payment
<br />shall also include either: (i) a sum for the annual mortgage insurance premium to be paid by Lender to the Secretary,
<br />or (ii) a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary,
<br />in a reasonable amount to be determined by the Secretary. Except for the monthly charge by the Secretary, these
<br />items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds."
<br />Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the
<br />maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures
<br />Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be
<br />amended from time to time ( "RESPA "), except that the cushion or reserve permitted by RESPA for unanticipated
<br />disbursements or disbursements before the Borrower's payments are available in the account may not be based on
<br />amounts due for the mortgage insurance premium.
<br />Initial& Cc
<br />(M- 4N(NE) (9802).01 Page 2 of 8
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