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2Q0910184
<br />CASE #: NE321274142'1703
<br />DOC ID #: 00021125096212009
<br />irt'evocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located in
<br />HALL County, Nrbraska:
<br />The Westerly Seventy feet (70') of Lots Eight (8) and Nine (9), 131ock Eleven
<br />(IX), Harrison's Subdivision in the City of Grand Island, Hall County, Nebraska
<br />Parcel ID Number: 400043483
<br />which bas the address of 2 2 2 0 W 13TH ST , GRAND T SLAND
<br />Street, Cityl
<br />Nebraska 6 8 8 0 3- 3 6 2 6 ("Property Address");
<br />[Zip Code]
<br />TOGETIIEIt WI'I'II all the improvements now nr t-ereafier erected on the property, and all easements,
<br />appurtenances and fixtures now or hereafter a part of the prolerty. All replacements and additions shall also be covered
<br />by this Security Instrument. All oC the foregoing is referred to in this Security instrument as the "Property." Borrower
<br />understands and agrees that MFRS holds duly legal title to the interests granted by Borrower in this Security Instrument;
<br />hut, if necessary to comply with law or custom, MFRS, (as nominee for Lender and Lender's successors and assigns), has
<br />the right: to exercise any or all of those interests, including, bttt not limited to, the right to foreclose atul sell the Property;
<br />and to take any action required of Lender including, but not limited to, releasing or canceling this Security Instrument.
<br />BURROWER COVENANTS that Iorrower is lawfully seized of the estate hereby conveyed and has fire right to
<br />grant and convey the Property and that the Property is unencuntheretl, 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 />TN[S SECURITY INSTRUMENT combines ruriform covenants for national use and nor--uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />Borrower and lender covenant and agree as follows:
<br />UNIFORM COVENANTS.
<br />1. Payment of Principal, Interest and Late Charge. I3nrrower 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 'T'axes, Insurance ar-d (7ther Charges. Borrower shall include in each monthly
<br />payment, together with the principal and interest as set fartlr in the Note and any late charges, a sum I'or (a) taxes and
<br />special assessments levied or to be levied against the Property, (b) leaseturld payments or ground rents on the l'roperl,y,
<br />and (c) premiums for insurance requh~ed ruuier paragraph 4. Ln any year in which the l.,ender must pay a mortgage
<br />insurance premium to the Secretary of 14nusing and Urban Development ("Secretary"), or in any year in wbich such
<br />premium would have been required if Lender still held the Security Instrument, each monthly payment shall also include
<br />either: (i) a sum for the annual mortgage insurance premium to be paid by lender to the Secretary, or (ii) a monthly
<br />charge instead of a mortgage insurance premium if this Security Instrument is held by itre Secretary, in a reasonable
<br />amount to be determined by the Secretary. Except for the monthly charge by the Secretary, these items are called
<br />"Escrow Items" and the stuns paid to Lender are called "Escrow Funds."
<br />Lender may, at any time, collect and bold amounts for Escrow Items in an aggregate amount oat to exceed the
<br />maximum amount that may be required for Borrower's escrow account under the Real Estate Settlemetrt Procedures Act
<br />of 1974, 12 U.S.C. Section 2001 et seq, and impletrrenting regulations, 24 CFI2 Part 3500, as they may be arnendecl frarn
<br />time to time ("RESPA"), except that the cushion or rese-ve permuted by RESPA for unanticipated disbursements or
<br />disbursements he~fore the Borrower's payments are available in the account may oat be based nn amouttfs due Cor the
<br />mortgage insurance premium.
<br />If the arnounls held by Lender fur Escrow Items exceed the amounts permitted to be held by RESPA, Lender shall
<br />accorurt to Borrower fur the excess funds as requirr.,d by RESPA. If the amounts of funds 1-eld by lender at any time are
<br />not sufficient to pay the l~scrow Items when duo, Lender may notify the Borrower and require Borrower to make up tlrc
<br />shortage as permitted try RESPA.
<br />The Escrow Funds are pledged as additional security for all suirrs secured by this Security Instrument. If Borrower
<br />traders to Lender the frill payment of all such snrns, Borrower's account shall be credited with the balance remaining for all
<br />installment items (a), (b), and (c) and any mortgage insurance pretniuru installment that Lender I-as rant become obligated to
<br />pay to the Secretary, and Lender shall promptly refund any excess funds to Borrower. Immediately prior to a foreclosure
<br />sale of the Property or its acquisition by Lender, Borrower's account shall be credited with any balance remaining fur all
<br />installments for items (a), (ta), and (c).
<br />3. Application of Payments. All payrrrents under paragraphs 1 and 2 shall he applied by Lender as follows:
<br />I~"first, to the mortgage insurance premium to he paid by Lender to the Secretary ar to the monthly charge by the
<br />Secretary instead of the monthly mortgage insurance premium;
<br />Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard
<br />insurance premiums, as required;
<br />Third, to interest due under the Note; f
<br />MER5 FHA Deed at Trust-NE /
<br />2004N-NE (19/07) Page 2 of 6
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