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<br />200709375
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<br />This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for
<br />monthly payments, with the full debt, if not paid earlier, due and payable on NOVEMBER 01,2037 . This Security
<br />Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions
<br />and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the
<br />security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security
<br />Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to the Trustee, in trust, with power of sale,
<br />the following described property located in HALL County, Nebraska:
<br />LOT SIX (6) AND THE WESTERLY TWELVE AND EIGHT TENTHS (W 12.8) FEET OF LOT SEVEN
<br />(7), IN BLOCK FOURTEEN (14), IN RUSSEL WHEELER'S ADDITION TO THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
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<br />which has the address of 120 W. 9TH STREET, GRAND ISLAND [Street, City!.
<br />Nebraska 68801 [Zip Code] ("Property Address");
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
<br />fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security
<br />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 Security
<br />Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and
<br />assigns) has the right: to exercise any or all of those interests, incl uding, but not limited to, the right to foreclose and
<br />sell the Property; and to take any action required of Lender includ ing, but not limited to, releasing and canceling this
<br />Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and
<br />convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will
<br />defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited
<br />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 interest on, the
<br />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 payment, together
<br />with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special assessments levied
<br />or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for insurance
<br />required under paragraph 4. In any year in which the Lender must pay a mortgage insurance premium to the Secretary
<br />of Housing and Urban Development ("Secretary"). or in any year in which such premium would have been required if Lender
<br />still held the Security Instrument, each monthly payment shall also include either: (i) a sum for the annual mortgage insurance
<br />premium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premium if this Security
<br />Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the monthly charge
<br />by the Secretary, these 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 maximum
<br />amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1974, 12
<br />U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended from time to time
<br />("RESPA"), except that the cushion or reserve permitted by RESPA for unanticipated disbursements or disbursements before
<br />the Borrower's payments are available in the account may not be based on amounts due for the mortgage insurance premium.
<br />If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESP A, Lender shall account
<br />to Borrower for the excess funds as required by RESP A. If the amounts of funds held by Lender at any time are not sufficient
<br />to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to make up the shortage as permitted
<br />by RESP A.
<br />The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If Borrower tenders
<br />to Lender the full payment of all such sums, Borrower's account shall be credited with the balance remaining for all installment
<br />items (a), (b), and (c) and any mortgage insurance premium installment that Lender has not become obligated to pay to the
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<br />Loan Number: 23772
<br />FHA Nebraska Deed of Trust . 4/96
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<br />Initials: (1'1 1-
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<br />A30062
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