200610533 - Laserfiche WebLink

Browse

200610533 This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on DECEMBER 1 ( 2036 . Tius Security instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the perfomlance of Borrower's coveruUlts 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 in HALL COlUlty, Nebraska: SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART THEREOF LOT 8, BLOCK 1, IN LE HEIGHTS SECOND SUBDIVISION, HALL COUNTY, NEBRASKA. ParcellD Number: 400157357 which has the address of 4347 KAY AVE [Streetl GRAND ISLAND [Cityl, Nebraska 68803 [Zip Codel ("Property Address"); TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances and fIxtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrwnent; but, if necessary to comply with law or custom, MERS, (as nominee for Lender and Lender's successors and assigns), has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing or canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and iliat the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines Ulufonn covenants for national use and non-lUuform covenants with limited variations by jurisdiction to constitute a lUufoml security instrument covering real property. Borrower and Lender covenant and agree as tollows: UNIFORM COVENANTS. 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, together with tlle principal and interest as set forth in the Note and any late charges, a sum for (a) taxes alKI special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a mortgage insurance prenuum to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been required if Lender still held the Security Instrument, each montWy payment shall also include either: (i) a sum for the annual mortgage insurance prenIillin to be paid by Lemler to the Secretary, or (ii) a monilily charge instead of a mortgage insurance prenullin if this Security Instrument is held by the Secretary, in a reasonable amount to be detenmned by the Secretary. Except tor the monthly charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds." .-4N(NE) (0407) @ Page 2 of~ -ill J Gv