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200809698 Lot Five (5) and the North Six (6)feet of Lot Four (4)~ Block Twelve (l2)~ West Park Addition to the City of Grand Island~ Hall County~ Nebraska Grand Island [Cityj Nebraska 1038 North Sheridan Avenue [Stredl 68803 [Zip (,,,ddl ("Property Address"); which has the address of TOGETHER W lTH all lhe irnprovements now or hereaner en;cted on the property. and all easements, appurtenances, and ri.'\1Ull~S now or hereafter a pan of the propl:rty. All replal:l:lnents and additions shall also be covered by this Security InstnllllellL All of the foregoing is referred to in this SeclUity Instrument as tilc "Property." Borrower understands <U1d agrees that MERS holds only legal tith; to the intl:resls gnU1ted by Borrower in this Security Instrulncnt but if necessary to comply \\i1h law or cuSlonL MER.S (,IS 1l00llinee for Lcnder and Lendcr's successors and assigns) has (lIc right: to e.\:ercise any or all of those interesls. includillg. bul not limilcd to. lhe right to foreclose and scll the Propcl1y; and to take any action required of l.ender including. but lUll Iilnited to. n:kasing or Glnl:e1ing this Securily InS!nunenL BORROWER COVENANTS thaI BOlTower is lawfully seised of the eSlale hereby conveyed and has the right to grant ami cOll\ey thc Properly and lhal the Propcrry is unencumbcred, except for encumbrances of rccord. Borrowcr walTants and will dl:fcnd genaally the title to thl: Property against all clairns and denlands, subjecllo any encumbrances of record. THIS SECURITY INSTIUJMENT combines uniforrn covenants ror national use and non-uniform covenants with limited lariations by jurisdictIon 10 constitute a unifonn security inslnUllcut covering real properly. UNIFORM COVENANTS. Borrower ~Uld Lender covenant and agree as follows: 1. Payment of Principal, Inter-est and Late Charge. Borrower shall pay when due the prindpal of, and interest on, the dl:bt evidenced by the Note and laic charges due under the Noll: 2. Monthly Payment 01' Taxes, Insurance, and Other Charges. Borrower shall include in each monthly payment, logelher with Ihe principal and inkn:sl as set forth in the Note and any late charges, a sum for (a) taxes and special aSSl:ssments lcvwd or to be h.:vicd agaiust tlw Property, (b) leasehold paymenls or ground renls on the Property. and (c) prClniums for insurance required undcr paragmph 4. In any year in which lhe Lender lIlUSt pay a mOl1gage insurance premium to the Secretary of Housing aud Urban Development CSecrdary"), or in ~IllY year in whil:h such premiurn would Imve been required if Lender still held the Security Inslmmenl. e<lch monthly paymenl shall also includl: either: (i) a sum [or lhe annualrnortgage insurance premiunl to be paid by Lender to the Sel:relaJ), or (ii) a monthly charge instead of a Inortgage inSUnUll:l: premium if this Security InSIll.lmen( is Ilcld by the Sccrdary. in a reasonable amoulltto be ddeflnined by the Secretary. b:eepl for thc monthly charge by the Secretary. these ilems are l:<llled "'Escrow Items" <lnd the sums paid to Lender are called "Escrow Funds." Lcnder may. ilt any time. collee! and hold amounts for Escrow Items in an aggregate <unount not to exceed the maximum amount that may be required for Borrower's l:Scrow account under the Real Estale Settlement Procedures Act of 1<)74, 12 u.s.e ~2WI el seq. and nnplernenting n:gulalions, 24 CFR Part 3500. as they may be anll:nded from time to time CRESPA"), except lhat the cushion or resenT permitted by H..ESP A for unanticipated disbursements or disbursements before the Borrower's pay'ments arc available in (Ill: account may nOI be based on amounts due lor the mortgage inSUfalKe premium. If the alllOllnts held by Lemler for Escrow Items l:xcced the arllollllts pennilled to be held by RESPA, Lender shall account 10 Borrower for the e.\:cess li.mds as required by RESP A. If the arnounlS of Ji.lllds held by Ll:uder at <illY time are not sufficient to pay the Escrow Items when due, Lender Illay notify tile BOlTower and requirc Borrower to make up the shortage as pl:rlllilled by RES P A 'rhe Escrow Funds are pledged as additional security for all sums secured by this Security Instrument If Borrower tenders to Lender the full payllll:nt of all such SllIllS, Borrower's account shall be credited with the balance remaining for all installment items (a). (b). and (c) and any lllorlgage insurance prellliulll installment Ihal Lender has not bccome obligated to pay to the NI\HR".SkA lill.-\ DEI.m OF 'J'IWS'J' MERS II toM 2~9fjL2 (0709) GraatDocsU" (Page 2 or 7) oP.a ~