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'. 200804767 ~ot 11 and the Southerly an Addition to the City one half of Lot 9, all in Block 17, University Place of Grand Island, Hall County, Nebraska Grand Island [City] Nebmska 2014 N Custer Avenue [Street] 68803 [Zip Codel ("Property Address"); which has the address of TOGETIIER WIlli all the improvements now or hereaftcr 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 Sccurity 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 Instrument; 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,lllC right to foreclose and sell the Property; and to take any action required of Lcnder including, but not limited to, releasing or canceling Ilris Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of Ille estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to tlle Property against all claims and demands, subject to any encumbrdllces of record. lliIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-mrifonn covenants with limited variations by jurisdiction to constitute a unifonn security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 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 the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) preuliums for insurance required under pamgraph 4. In any year in which the Lender must pay a mortgage insurance premiwn to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such preulium would have been required if Lender still held ilie Security Instrument, each montll1y payment shall also include either: (i) a sum for ilie annual mortgage insurance preulium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premium if tlllS Security Instrument is held by ilie Secretary, in a reasonable amount to be detennined by the Secretary. Except for Ille monthly charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds." Lender may, at any time, collcct and hold amounts for Escrow Items in an aggregate amount not to exceed the maximum amount that may be required for Borrower's escrow account under Ille Real Estate Settlement Procedures Act of 1974, 12 U.S.C. ~2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended from time to time ("RESPA"), except that the cushion or reserve pemlitted by RESP A for unanticipated disbursements or disbursements before the Borrower's payments are available in the account may not be based on amounts due for tlle mortgage insurance preulium. If the amounts held by Lender for Escrow Items exceed the amounts pennitted to be held by RESP A, Lender shall account to Borrower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any time are not sufficient to pay the Escrow Items when due, Lendermay notify the Borrower and require Borrower to make up the shortage as pennitted by RESP A. The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be credited with the balance remaining for all installment items (a), (b), and (c) and any mortgage insurance preulium installment that Lender has not become obligated to pay to the NEBRASKA FHA DEED OF TRUST MERS ITEM 2696L2 (0709) Gr~s"" tif{t)'"