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200yU9E03 This debt is evidenced by Borrower's note dated the same daft: as this Security instrument ("Note"), which provides for monthly paylncnts, with the full debt, if not paid earlier, due and payable on DECEMBER 1 , 2 0 3 9 . '17iis Security Instrument secures to Lcndcr: (a) the repayment of the debt evidenced by tie Note, with. interest, and all renewals, extensions and rnodilicatioirs of dre Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of Uris Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrulncnt and tre Note. For this purpose, Borrower irrevocably grants and conveys td the Trustee, in trust, wide power of sale, dre following described property located in HALL County, Nebraska: LOT 2, COOPER SUBDIVISION, IN THE CITY OF GRANA ISLAND, HALL COUNTY, NEBRASKA. THIS TS A PURCHASE MONEY DEED OF TRUST. Parcel Ill Number: 400007525 which has die address of 109 S KIMBALL ST [Street] GRAND ISLAND [City) , Ncbrask~;~ 6 8 S O1 [Zip Code] ("Property Address"); TOGETHER WITH all tre improvements now or hereafter erected on the property, and all casements, appurtenances and fixtures now or Irereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in flue Security Instrument as the "Property." Borrower understands and agrees drat MFRS holds only legal title to dre iutcrests granted by Borrower in this Security instrument; but, if necessary w comply widr law or custom, MERS, (as nominee liar Lender and Lender's successors and assigns), has the right: to exercise any or all of trose interests, including, but not limited to, the right to foreclose and sell dre Property; and t[1 take any action required of Lender including, but not limited to, releasing or canceling this Security Instrument. BORROWER COVENANTS drat Borrower is lawfillly seized of dre estate hereby conveyed and has dre right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally dre tite to dre Property against all claims and demands, subject to any encumbrances of record. THIS 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 Latc Charge. Borrower shall pay when due the principal of, and interest on, the debt evidenced by dre Notc and late charges due under dre Noce. 2. Monthly Payment of Taxes,l(nsurance and Other (:barges. Borrower shall include in each monthly payment, together with the principal and interest as set forty in the Nc~tc and any Late charges, a suer for (a) taxes and special assessments levied or to be levied against the Property, (b) Icxschald paymenLS or ground rents on tre Property, and (c) premiums for insurance required under paragraph 4. In any year in which tic Lender must pay a mortgage insurance premium to trc Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been required if Lender sell held the Security Instrument, each monthly payment shall also include either: (i) a sum for tre annual mortgage insurance premium to be paid by Lcndcr to tre Secretary, or (ii) a montily charge instead of a mortgage insurance prclnium if Iris Security Instrumcnl is held by the Secretary, in a reasonable amount tcl be determined by dre Secretary. Except for the monthly charge by the Secretary, trese items are called "Escrow .Items" and the sums paid to Lender are called "Escrow 1~unds." ~-4N NE Initials: /~~ ( 1 (0407) Page 2 of e