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2oioos53i pravides for rnonthty payments, with th� full debt, if not paid earlier, due and payable on J a n u d r y 1, 2 0 41 . This Security Instrument secures to Lender: (a) the repayment of the debC evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of a11 other sums, with interest, advanced under paxagraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreemcnts under this Security Instrument and the Note. Por this purpose, Borrowex irrevocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located in H a 11 County, Nebrasl�a: Lot Seven (7') in Block Eight-Four (84), in Wheeler and Bennett's Fourth Addition to the City of Grand Island, Hall Coun�y, Nebraska. Parcel ID Number: 40 012 6141 which has the address of 10 8 E 15 t h S t [Street] G r a n d I s 1 a n d [c�rya, Nebraska 688 O 1 [zip Code� ("Property Address"); TOGETHER WITH all the improvements now or hereafter erected on the praperty, and all easements, appurtenances and fixtures now or hereafter a part af the property. All replac�ments 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 seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencurnbered, except for encumbrances of record. Borrower warrants and wilt defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURTTY INSTRUMBNT combines uniform covenants for national use a�nd non-uniform covenants with lixnited variations by jurisdiction to canstitute a uniform security instrument covering real property. Borrower and I.ender covenazit and agree as follows: UNIFORM COVENANT5. 1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and late charges due under the Note, 2. Manthly 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 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 must pay a znortgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), ar in any year in which such premiurn would have been required if Lender still held the Security Instrument, each rnonthly payrnent shall also include either: (i) a sum for the annual rnortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premiurn if this Security lnstrument is held by the Secretary, in a reasonable arnount to be determined by the Secretary. Except for the monthly charge by the Secretary, these iterns are called "Escrow Items" and the sums paid ta Lender are called "Escrow �'unds." FHA qeed of Trust-NE.� /7 4/96 VMP � ,� Pt� VMPARINE) (0809) Wolters Kluwer Pinenclel Services �! � 0 Paga 2 ot 9