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200806795 Lot Thirty-two (32), Thelen Subdivision, First Addition to the City of Wood River, Hall County, Nebraska Wood River [City] Nebraska 307 West Green Street [Street] 68883 [Zip Code] ("Property Address"); which has the address of 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 a.nd 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 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, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing or canceling tIus Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the 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 titIe to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform 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 oIl, 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 fOrtIl 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) premiums for insurance required under paragraph 4. In any year in wluch the Lender must pay a mortgage insurance prenuum to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such prenuum would have been required if Lender still held tIle Security Instrument, each monthly payment shall also include either: (i) a sum for the annual mortgage insurance prenuum to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to be detennined by the Secretary. Except for the 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, collect 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 the 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 permitted 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 premium. If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESP A, Lender shall account to Borrower for the excess funds as required by RESP A. If the anlOunts of funds held by Lender at any time are not sufficient to pay the Escrow Items when due, Lender may notify tlle Borrower and require Borrower to make up the shortage as permitted by RESPA. The Escrow Funds are pledged as additional security for aU sums secured by this Security Instnllnent. 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 prenuum installment that Lender has not become obligated to pay to the NEBRASKA FHA DEED OF TRUST MERS ITEM 2696L2 (0709) GreatDocs"" (Pege 2 of 7) ~ ~