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200902381 Lots Ninety-one (91) and Ninety-two (92)~ in Belmont Addition to the City of Grand Island~ Hall County~ Nebraska Grand Island [City] Nebraska 411 N Grace Avenue [Street] 68803 [Zip Code] ("Propcrty Address"); which has the address of TOGETHER WITH all the improvements now or hereafter erected on thc property, and all easements, appurtenances, and fixtlU'es now or hereafter a part of the property, All replacements and additions shall also be covered by this Security Instnunent. All of the foregoing is referred to in this Security Instnunent as the "Property" Borrower understands and agrees that MERS holds only lega] title to the interests granted by Borrower in this Security Instrument; but, if neccssary to comply with law or custom, MERS (as nominee for Lender and Lendcr's Sllccessors and assigns) has the right: to excrcise any or all of those interests, including, but not limited to, the right to forcclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing or canceling this Security Instrument. BORROWER COVENANTS that Borrowcr is lawfully seised of the estate hcreby conveycd and has the right to grant and convcy the Property and that tile Property is unencumbered, except for encumbrances of record, Borrower warrants and will defend generally the title to tile Property against all claims and demands, subject to any encwnbrances of record, THIS SECURlTY INSTRUMENT combines unifoffil covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a unifonn security instrument covering rea] 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 on, th<: 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, togeth<:r with the prineipa] and interest as set forth in the Note and any late charges, a sum for (a) taxes and special assessments levied or to be levied against th<: Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for insurance required undcr paragraph 4. In any year in which the Lend<:r must pay a mortgage insurance premiwn to the Secretary of Housing and Urban D<:velopment ("Secretary"), or in any year in which such premium would have b<:cn required if Lcndcr still held the Security Instrument, each monthly payment shall also include either: (i) a sum for the annual mortgage insurance premium to be paid by Lend<:r to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premium if this Security In$trument is held by the S<:eretary, in a reasonab]c amount to be deteffilin<:d by the Secretary. Except for the monthly charge by the Secrdary, 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 accowlt under the Real Estat<: Settlement Procedures Act of 1974, 12 U.S,C, ~26OI et seq and implcmenting r<:gu]ations, 24 CFR Part 3500, as they may be amended from tim<: to time ("RESPA"), except that the cushion or reserve permitted by RESP A for lmanticipated disburscm<:nts or disbursements before the I3orrow<:r's payments are availabI<: in th<: account may not be based on arnolmts due for the mortgage insurance premilU11. If the amounts hdd by Lender 1"or Escrow Items exceed the amowlts pennitted to b<: held by RESPA, Lender shall account to Borrower for the exc<:ss l'tmds as required by RESPA. If the amounts of hmds held by Lender at any time are not sufficient to pay the Escrow It<:ms when due, Lender may notify tile Borrower and require Borrower to make up the shortage as pennitted by RESPA. Ibe Escrow Funds are pledged as additional security for all SlUns secur<:d by this Security Instrument. If Borrower tenders to Lender the full payment of all such sums, Borrow<:r's account shall be credited with the balance remaining for all installment items (a), (b), and (c) and any mortgag<: insurance premiwn installment that Lender has not become obligated to pay to the NEBRASKA FHA DEED OF TRUST McRS ITEM 209ol,2 (0709) GreatDocs"N (Page 2 of 7) ~?