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20100018 'This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on February 1, 2040 . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by tlae Note, with interest, and all. renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Nate. For this purpose, Barrower irrevocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located in Hall County, Nebraska: Lot Qne Fifty-six (156) Buenavista Subdivi.sivn, Grand Island, Hall County, Nebraska Parcel ID Number: which has the address of 420 Nebraska Avenue [5lrt~c~tl Grand Island [~ilyL Nebraska tiS801- flip Code] ("property Address"); TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances and fixtures uow or hereafter a part of the property. All replacements and additions shall also be covered by this Security instrument. Al] of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument; but, if necessary to comply with law or custom, MERS, (as nominee for Lender and Lender's successors and assigns), has the right: to exercise any or all of those interests, including, but not limited ta, the right to foreclose and sell the Property; and to take any notion required of Lender including, but not limited to, releasing or canceling this Security Instrument. BORROWER COVENANTS that Barrower 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 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. Barrower and Lender covenant and agree as follows: UNIFORM COVENANTS. I. Payment of Principal, Interest and Late Charge. Barrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and late charges due under the Note. 2. Monthly Paynnent 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 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 muse pay a mortgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year iu which such premium would have been required if Lender 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 Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the monthly charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds." 001121084594 VMP~~N(Nq (0407).01 Page 2 of 8 CitiMorlgage 3.2.29.66 V2