|
<br />200900330
<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
<br />FEBRUARY 1, 2039 . This Security Instrumentsecures to Lender: (a) the repaymentof 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, with
<br />interest, advanced under paragraph 7 to protect the security of this Security Instrument; and ( c) the performance of
<br />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 />III HALL County, Nebraska:
<br />LOT ELEVEN (11), BLOCK ONE (1), COLONIAL ESTATES TENTH
<br />SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />
<br />THIS IS A PURCHASE MONEY DEED OF TRUST
<br />
<br />ParcelID Number: 400350319
<br />which has the address of 3116 MAGNOLIA CT [Street]
<br />GRAND ISLAND [City], Nebraska 68803 IZip Code] ("Property Address");
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenancesand fixtures now or hereaftera part of the property. All replacementsand additions shall also be covered
<br />by this Security Instrument.All of the foregoing is referredto in this Security Instrumentas the "Property." Borrower
<br />understandsand agrees that MERSholds only legal title to the interestsgranted 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),
<br />has the right: to exercise any or all of those interests,including, but not limited to, the right to foreclose and sell the
<br />Property; and to take any action required of Lender including, but not limited to, releasing or canceling this Security
<br />Instrument.
<br />BORROWERCOVENANTSthat Borroweris 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 SECURITYlNSTR UMENTcombines 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 Lendercovenant and agree as follows:
<br />
<br />UNIFORMCOVENANTS.
<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 payment,
<br />togctherwith the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special
<br />assessmentslevied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and ( c)
<br />premiums for insurance required under paragraph4. In any year in which the Lender must pay a mortgage insurance
<br />premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium
<br />would have beenrequiredif Lenderstill held the Security lnstrument,eachmonthly payment shall also include either: (i)
<br />a sum for the annual mortgageinsurance prem ium to be paid by Lenderto the Secretary, or (ii) a monthly charge instead
<br />of a mortgage insurance premium if this Security Instrumentis held by the Secretary, in a reasonable amount to be
<br />determinedby the Secretary. Except for the monthly charge by the Secretary, these items are called "Escrow Items" and
<br />the sums paid to Lender are called "Escrow Funds."
<br />
<br />.-4N(NE) (0407)
<br />@
<br />
<br />Initials:, ~ ~
<br />
<br />Page 2 of 8
<br />
|