201100038 - Laserfiche WebLink

Browse

2oii0003s SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PAR7 HEREOF. which has the address of: 1720 N Muston Ave, Grand Island, NE 68803 ("Property Address"). TOGETHER WITH all the impravements 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 cavered 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 only encumbered by a First Security Instrument given by Borrower and dated the same date as this Security Instrument ("First Security Instrument"). Borrower warrants and will defend generally the title to the Property against all claims and demands, subject ta any encumbrances of record. THIS S�CURITY INS7RUMENT cambines uniform covenants for natianal use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument cvvering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follaws: 1. Payment of Principal and Interest. Borrawer shall pay when due the principal of, and interest on, the debt evidenced by the Second Note. Payment of Property Charges. Borrower shall pay all property charges consisting of 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 property charges by withholding funds from manthly payments due to the Borrower or by charging such payments to a line af credit as provided for in the L.oan Agreement. Lender may require Borrower to pay specified property charges directly to the party owed payment even though Lender pays other property charges as provided in this Paragraph. 3. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now in exist�nce ar subsequently erscted, against any hazards, casualti�s, and contingencies, including fire. This insurance shall be rnaintained in the amounts, to the extent and for the periods required by Lender. Borrower shall also insure all improvements an the Praperty, whether now in existence or subsequently erected, against Ioss by floc�ds to the extent required by Lender. The insurance policiss and any renewals shall be held by Lender and shall include loss payable clauses in favor of, and in a form acceptable ta, Lender. In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make praaf of loss if not made pramptly by Borrower. Each insurance campany concerned is hereby authorized and directed to make payment for such loss to Lender, 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 feasible and Lender's security is nat lessened. If the restoration or repair is not economically feasible ar Lender's security would be lessened, the insurance praceeds shall be applied first to the reduction of any indebtedness under the Second Note and this Security Instrument. Any excess insurance proceeds ouer an amount required to pay all outstanding indebtedness under the Second Note and this 5ecurity Instrument shall be paid to the entity legally entitled thereto. I I IIIIIIIII�IIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIII qq322579Z26011720000000w Mortgage Cadence, LLC � 0279 (07/07) (2 of 9) Ne6raska Secand Daed of 7rust - HECM FIXE� RATE