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<br />200606040
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<br />Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums,
<br />with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance
<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 />A PART OF LOT ONE (1), BLOCK ONE HUNDRED TWENTY NINE (129), KOENIG AND WIEBE'S
<br />ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA MORE PARTICULARLY
<br />DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF LOT 1; THENCE,
<br />NORTHERLY ON THE LOT LINE 41.65 FEET TO AN IRON STAKE; THENCE WESTERLY, PARALLEL
<br />TO THE SOUTH LINE OF LOT 1, 46.9 FEET; THENCE SOUTHERLY 2.0 FEET; THENCE
<br />WESTERLY 3. 60 FEET; THENCE SOUTHERLY, 2.0 FEET; THENCE WESTERLY, PARALLEL TO
<br />SOUTH LINE OF LOT 1, 5.10 FEET; THENCE SOUTHERLY; PARALLEL TO THE WEST LINE OF
<br />LOT 1, 6.40 FEET; THENCE WESTERLY TO THE SOUTH LINE OF LOT 1, 10.40 FEET; THENCE
<br />SOUTHERLY ON THE LOT LINE, 31.25 FEET TO AN IRON STAKE; THENCE EASTERLY ON LOT
<br />LINE, 66. 0 FEET TO THE POINT OF BEGINNING
<br />
<br />Parcel ID Number: I/O(jD6ia9,ft
<br />which has the address of 312 S CLEBURN ST.
<br />GRAND ISLAND (City], Nebraska 68801
<br />
<br />(Street]
<br />(Zip Code] ("Property Address");
<br />
<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 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 />encumbrancesofr~ord.
<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 />
<br />Borrower and Lender covenant and agree as follows:
<br />
<br />UNIFORM COVENANTS.
<br />
<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 S~retary of Housing and Urban Development ("S~retary"), or in any year in
<br />which such premium would have been required if ~nder still held the S~urity 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 ~rity Instrument is held by the Secretary,
<br />in a reasonable amount to be determined by the S~retary. Except for the monthly charge by the S~retary, 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 CPR 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.
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<br />.'4RINEI (0407).01
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