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200906458 This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Nate; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of tt-is Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to the Trustee, in trust, with power of sale, the fallowing described property located in HALL County, Nebraska: I,ot Nine (9), Damson Subdivision in the City of Grand Island, Hall County, Nebraska Parcel ID Number: PARCH NO.: 4000x9872 which haS the address of 410 EAST DElAWAREAVENUE [Street] GRAND ISLAND I~ttyL Nebraska 88801- [zip Code] ("property Address"); TOGETHER WITII all the improvements now nr hereafter erected nn the property, and all easements, appurtenances and fixtures now or hereafter a part of the property. All replacements artd additions shall also be covered by this Security Instrument. All of the foregoing is referred to iu this Security Instrmnent as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests grarrled by Borrower in this Security Instrument; but, if necessary to comply with law or custom, MERS, (as nominee for Lender and Lender's successors arrd assigns), has the right: to exercise any or all of those interests, includingg, but eat limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, l-ut not limited to, releasing or cancelingg this Security Iustrurneut. BORRUWER COVENANTS that Borrower is Lawfully seized 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 agahrst all claims and demands, subject to any encumbrances of record. TI/IIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Borrower and Lender covenant and agree as follows: UNIFORM COVENANTS. 1. Payment of principal, Interest and Late Charge. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and late cl-arges 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 forth in the Note and any late charges, a sum for (a) taxes and special assessments levied nr to be levied against the property, (b) leasehold payments nr ground rents on the Property, and (c) premiums for insurance required under paragraph 4. In any year Ln which the Lender must pay a mortgage insurance premium to the Secretary of I-lousing and Urban Development ("Secretary"), nr in any year in which such premium would have been required if Lender still 1-eld the Security Instrument, each monthly payment shall also include either: (i) a sum for the annual mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly cl-arge instead of a mortgage insurance premium if tl-Ls Security Instrument is held by the Secretary, in a reasonable amount to be determined by Ilse Secretary. Except fur fire monthly drarge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Frmds." V~N(NEa (o4a~),oi Peya z or a maim: