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200902378 The South Twelve (l2) feet of Lot Eight (8) and all of Lot Ten (lO), Block Fourteen (14) in Scarff's Addition to West Lawn, in the City of Grand Island, Hall County, Nebraska Grand Island [City] Nebraska 1819 N Taylor Avenue [Street] 68803 [Zip Code] ("Property Address"); which has the addre:;s of TOGETHER WITH all the improvements now or hereatler erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacement:; and additions shall also be covered by Ulis Security Instrument. All of the foregoing is referred to in this Security Instnunent as the "Property" Borrower lilldcrstands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instmment; but, if necessary to comply with law or custom, MERS (as nominee tor Lender and Lender's succcssors 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 this Security Instmment. 130RROWER COVENANTS that Borrower is lawti.tlly sci:;ed 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 title to the Property against all claims and demands, subject to any enclilllbrances of record. THIS SECURITY INSTRUMENT combines unifoml covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrumcnt covering real property. UNIFORM COVENANTS. Borrower and Lendcr covenant and agree as follows: 1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, amI 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 f(lrth in the Note and any late charges, a SlUll 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 which the Lender must pay a mortgagc insurance premilun to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which :;uch premium would have been required if Lender :;till held the Security Instrument, each monthly payment shall also include (jither: (i) a sum tor tht: annual mortgage insurance premium to be paid by l.ender to the Secretary, or lii) a monthly charge instead of a mortgage insurance prem ium if this Security Instmmt:ntls held by the St:cretary, in a rt:a:;onahle amount to he detcnnined by the Secretary. Except for tht: monthly charge hy the Secretary, thest: items are callt:d "Escrow Items" and the sums paid to Lender are called "Escrow Funds." Lendt:r 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 BOITower's escrow account under the Real Estate Settlement Procedures Act of 1974, 12 US.C. ~260l et seq and inlplementing rt:gulations, 24 CFR Part 3500, as they may be amended from time to time C'RESPA"), except that the cushion or reserve permittt:d hy RESPA for unanticipated disburst:ments or disbursements before the Borrower's payments are available in the account may not be based on amounts due for the mortgage insurance premium. If the amounts held by Lender for Escrow Items excet:d the amowlt:; permitted to be held by RESPA, Lender shall account to Borrower for the excess timds as rt:quired by llliSPA. If the amounts of funds held by Lender at any time are not sutficient to pay the Escrow Items when due, Lender may notify the Borrowt:r and require BOITowcr to make up the shortage as pennitted by RESPA. The Escrow Funds are pledged as additional security tor all sums securt:d by this Security Instrumt:nt. If Borrower tenders to Lender the full payment of all such sums, Borrowt:r's account shall be credited with the balance remaining for all installment items (a), (b), and (c) and any mortgage insmance premiwll instalhnent that Lender has not become obligated to pay to the NEBRASKA FHA DEED OF TRUST MERS ITEM ,696L' (0709) G reatDoc s 1M (Page 2 of 7) LJlt ~(l&