|
<br />200800739
<br />
<br />This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which
<br />provides for monthly payments, with the full debt, if not paid earlier, due and payable on February 1, 2038
<br />. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the
<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 />
<br />Lot Ten (10), Block Twenty-three (23), Baker's Addition to the City of
<br />Grand Island, Hall County, Nebraska
<br />
<br />Parcell\) Number:
<br />which has the address of 2304 W DIVISION ST [Streetl
<br />GRAND ISLAND ICity/, Nebraska 68803-5333 [Zip Codcl ("Property Address");
<br />TOGETHER WITH all the improvements now or hcreafter erected on the property, and all cascments,
<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 an of those interests, including, but not limited to, the right
<br />to foreclose and sell the Property; and to take any action required of Lendcr including, hut 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. Borrowcr
<br />warranls and will defend generally the !ide 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 />
<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 tbe Note.
<br />2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall include in each monthly
<br />payment. together wilh the principal and interest as set forth in lhe 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 renls 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: (j) a sum for the annual mortgage insurance premium to be paid by Lender to the Secretary,
<br />or (ij) a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary,
<br />in a reasonable amount to he determined by the Secretary. Exccpt for the monthly charge by the Secretary, tbese
<br />items are called "Escrow Items" and the sums paid to Lender arc called "Escrow Funds."
<br />
<br />VMP@-4N(NE) (0407),01
<br />
<br />IniliaI5:~
<br />
<br />002005021932
<br />
<br />Page 2 of 8
<br />
<br />CitlMortgagc 3,2,13,21 VI
<br />
|