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200310404
<br />of Borrower's covenants and agreements under this Security Instrument and the Note. 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 Hall County, Nebraska:
<br />THE NORTHERLY 53 FEET OF FRACTIONAL LOT 6 IN FRACTIONAL
<br />BLOCK 48 IN RUSSEL WHEELER'S ADDITION IN THE CI'T'Y OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA, AND ITS COMPLEMENT, THE
<br />NORTHERLY 53 FEET OF FRACTIONAL LOT 6 IN FRAC'1'1ONAL BLOCK
<br />7 IN GILBERT'S ADDITION TO THE CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA, THE NORTHERLY 53 FEET OF THE WESTERLY
<br />ONE -HALF OF FRACTIONAL LOT 7 IN FRACTIONAL BLOCK 48, IN
<br />RUSSEL WHEELER'S ADDITION TO THE CITY OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA, AND ITS COMPLEMENT, THE
<br />NORTHERLY 53 FEET OF THE WESTERLY ONE -HALF OF FRACTIONAL
<br />LOT 7 IN FRACTIONAL BLOCK 7 IN GILBERT'S ADDITION TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA, ACCORDING TO THE
<br />RECORDED PLAT THEREOF
<br />which has the address of 1111 N Clark St, Isocal
<br />Grand Island [city], Nebraska 68801 [Zip Codel ( "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 replacenunts 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 />Burrower understands mid agrees that MERS holds only legal tide to the interests granted by Burrower 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 assign:), has the right: to exercise any or all of those interests, including, but not Hotted to, the right
<br />to foreclose and sell die 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 die 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 my
<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 die Property, (b) leasehold payments or ground rems on the
<br />Property, and (c) prenniuns for insurance required under paragraph 4. In any year in which the Lender most 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 sun for the annual mortgage insurance premium to be paid by Lender to the Secretary,
<br />or (ii) a runthly charge instead of a mortgage insurance premium if this Security Instrument is meld 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 amours for Escrow Items in an aggregate anhount not to exceed the
<br />maxima... ainount 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 />4N(NE) eeoatoi r e• s m e
<br />N
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