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<br />200806223
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<br />CASE #: NE3212536851703
<br />
<br />DOC ID #: 00019336781307008
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<br />irrevocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located in
<br />HALL County, Nebraska:
<br />SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF.
<br />
<br />Parcel ID Number: 400019833
<br />which has the address of
<br />
<br />1836 WEST 12TH STREET, GRAND ISLAND
<br />[Street, City]
<br />
<br />Nebraska 68803-3715 ("Property Address");
<br />[Zip Code]
<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 covered
<br />by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower
<br />understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument;
<br />but, if necessary to comply with law or custom, MERS, (as nominee for Lender and Lender's successors and assigns), has
<br />the right: to exercise any or all ofthose interests, including, but not limited to, the right to foreclose and sell the Property;
<br />and to take any action required of Lender including, but not limited to, releasing or 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. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances
<br />of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited 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
<br />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 Property,
<br />and (c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a mortgage
<br />insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such
<br />premium would have been required if Lender still held the Security Instrument, each monthly payment shall also include
<br />either: (i) a sum for the annual mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly
<br />charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable
<br />amount to be determined by the Secretary. Except for the monthly charge by the Secretary, these items are called
<br />"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 Act
<br />of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended from
<br />time to time ("RESP A "), except that the cushion or reserve permitted by RESP A for unanticipated disbursements or
<br />disbursements before the Borrower's payments are available in the account may not be based on amounts due for the
<br />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
<br />account to Borrower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any time are
<br />not sufficient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to make up the
<br />shortage as permitted by RESP A.
<br />The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If Borrower
<br />tenders to Lender the full payment of all such sums, Borrower's account shall be credited with the balance remaining for all
<br />installment items (a), (b), and (c) and any mortgage insurance premium installment that Lender has not become obligated to
<br />pay to the Secretary, and Lender shall promptly refund any excess funds to Borrower. Immediately prior to a foreclosure
<br />sale of the Property or its acquisition by Lender, Borrower's account shall be credited with any balance remaining for all
<br />installments for items (a), (b), and (c).
<br />3. Application of Payments. All payments under paragraphs 1 and 2 shall be applied by Lender as follows:
<br />First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the
<br />Secretary instead of the monthly mortgage insurance premium;
<br />Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard
<br />insurance premiums, as required;
<br />Third, to interest due under the Note;
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<br />MERS FHA Deed ofTrusl-NE
<br />2004N-NE (11/07)
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