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2010078i0 which has the address of: 1720 N Huston Ave, Grand Island, NE 688�3 ("Property Address"). TOGETHER WI'TH all th� improvements now or hereafter erected on the property, and all easements, rights, appurtenances, and fixtures now or hereafter 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 this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised 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 recard. Barrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. TMIS SECURITY INSTRUMENT combines uniform covenants for national use and non-unifarm covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANT5. Barrawer and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note. 2. Payment of Property Charges. Borrower shall pay all property charges consisting af taxes, ground rents, flood and hazard insurance premiums, and special assessments in a timely manner, and shall provide evidence of payment to Lender, unless Lender pays praperty charges by withholding funds from monthly payments due to the Borrower or by charging such payments to a line of credit as provided for in the Loan Agreement. 3. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire. This insurance shall be maintained in the amounts, to the extent and for the periods required by Lender or the Secretary of Housing and Urban Development ("Secretary"). Borrower shall also insure all improvements on the Property, whether now in existence or subsequently erected, against loss by floods to the extent required by the Secretary. All insurance shall be carried with companies approved by Lender. The insurance policies and any renewals shall be held by Lender and shall include loss payable clauses in favor of, and in a form acceptable to, Lender. In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if nat made promptly by Borrower. Each insurance company concerned is hereby autharized and directed to make payment for such loss to L.ender instead of to Borrower and Lender jointly. Insurance proceeds shall be applied to restoration or repair of the damaged Property, if the restoration or repair is economically faasible and Lender's security is not lessened. If the restoration ar repair is not ecanamically feasible or Lender's security would be lessened, the insurance prpceeds shall be applied first to the reduction of any indebtedness under a Second Note and Second Security Instrument held by the Secretary on the Praperty and then ta the reduction of the indebtedness under the Note and this Security Instrument. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Nate and this Security Instrument shall be paid to the entity legally entitled thereto. In the event of foreclosure of this Security Instrument or other transfer of title ta the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in IIIIII��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIII q032257922600233000 qOQL Mortgage Cadence, LLC � D228 07/07 (2 of 10) Nebraska Deed of Truat HECM FIXED RATE