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2oiooss5s provides for monthly payments, with the full debt, if not paid earlier, due and payable on December 1, 2040 . This Security Instrument secures to Lender: (a) the repayir►enf of the debt evidenced by the Note, with interest, and all renewals, extensions and moditications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect che security af this Security Instrurnent; and (c) the performance of $orrower's covenants and agrcements under this Security Instru�nent and the Noie. For this purpose, Borrower irrevocably grants and conveys to the Trustee, in trust, with power of sale, the fol]owing described property located in H d 1 1 County, Nebraska: Lot Four (4), in Blauvelt Subdivision, in the City of Grand Island. Hall County, Nebraska. Parcel 1D Numbcr: 40015239$ which has the address of 4 318 B 1 a u v e 1 t R d f s�r��1 Grand I Sl and �C�ry], Nebraska 68803 fZip Code) ("Property Address"); TOGETHER WITH all the improvements now or hereaftcr erected on the properly, and all easemenls, 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 foregaing is referred to i�1 this Security Instrument as the "Property." BORROWER COV�NANTS that Borrower is lawfully sei�ed 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, subjer;t to any encumbrances of record. THIS SECURITY TNSTRUMENT combines uniform covenants for national usc and non-uniforrn covenants with limiteci 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 Principat, Inter�t and Late Cl�arge. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and latc charges due undcr 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 assessrnents levied or to bc levied against thc Property, (b) lcasehold payments or ground rents on the Property, and (c) premiums for insurance required under paragrapla 4. In any year in which the Lender must pay a mortgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been required if Lcnder still l�eld the Security Instrument, each monthly payment shall also include either: (i) a sum for the annual mortgage insurance premium co be paid by Lendcr 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 Secret�ry. Except for the rnonthly charge by thc 5ecretary, these items arc called "Escrow Itams" and the sums paid to Lender are called "Escrow Funds." FHA �eed of Trust-NE 4/96 VMP � y�''y � VMP4RWE1 (0809) wohers Kluwer Financ�al Services .Jl.�, Page 2 of 9