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2011000�� 1'OG�THER WITH all the improve.tnentti now or hereaftcr erected on the property, and all eascmcnts, apputienances and fixtures now or hereafter a part of ihe property. All replacement5 and additions shall also be covcrcd by ihis Security Instrument. All of the foregoing is rcfcrrcd lo in this Security Instrument as the "Property," BORR(�W�R COVENANTS that Borrower .is lawfully seized of thc cstalc hcrcby convcycd and has the right to grant anci convcy the Property and th�t the Pro�erty is unc:ncurnbcrcd, cxccpl for cncumbranccs of rccorcl. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbranccs of rucord. THIS SEC;URI"1'Y INS'1'RUM�N'1' combines uniform covenants for natic�rtal use and non-uniform covenants with limited variations hy jurisciiction to consLiCute a uniform security instrurnent covering real pr�perty. Borrower and Lender covenant and agrcc a5 follows: UNIFORM COVENANTS, 1. Payment of Principal, Interest and Late Charges. Borrower shall pay when due the principal of, and intcresl on, the deht evidenced by the Note and laic chargcs due under the Note. 2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall include in each monthly payment, together with the principal ancl intcresl as set forth in the Note and any late charges, a suzxr for (a) taxes and special assessments levied or to b�: levied againsl thc Property, (b) lelsehold payments or ground rents on the Property, and (c) premiums for insurancr; rcqui.red undcr Para�raph 4. In any year in which the Lender must pay a mortgage insurance premium to the Secretary of Housing and tJrban Dcvclopment ("Secretary"), or in any year in which such premium would have been required ifLender still held thG ticcurity Instrument, each monthly payment shall also include either: (i) a sum for the annual znortgage insurance premium to bc paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premiutr► if this 5ecurity Instrumcnt is held by the Secret�ry, in a reasonahle amount to be determined hy the Secretary. F..xcept far the monthly charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are cal]ed "Escrow Funds." Lcndcr may, at any time, collcct and hold �mounts for Fscraw Ilcros in an aggrcgatc amount not io cxcccd lhc maxirnum amount that may bc required for Borrower's escrow account undcr thc Rcal �state Selllernent Proccdures Acl of 1)74, 12 [J.S.C. Seclion 2601 et sey. and implementing regulations, 24 CFR Part 3500, ati ihcy may be amcncled itom timc ta time ("R�SPA"), cxccpl lhat thc cushion or reserve permitted by R�SPA for un�nlicip disburticments or disburscmcnts before the Borrower's paymcnt� are availablc in the account may nnt be based on amounts due for the tnortgage insurance premium. Tf i.hc amounts held by Lender for Escrow Items exceed the amounts permitted to be held by R�SPA, Lender shall account to Borrower for ihc cxccss funds as required by RFSPA. If the amounis of funds hcld by Lcndct ai any iimc arc not sufficicnt to pay lhc Escrow Items when due, Lender may notify thc Borrowcr and require Borrowcr to makc up thc shortage as permilicd by RESPA. The Escrow Funds are pledged a.ti additional sccurity for all sums secured by this Security Instrument, If Borrower tenders to Lender the full payment of all such surns, Borrower's account shall be credited with the halance remaining for a11 installment items (a), (h), and (c) and any martgage insurance premium installment that Lender has not become obligated to pay to the Secretary, and I,encler shall promplly refund any excess funds to Bnrrower. Immediately prior to a foreclonure sale of the Pro�erty or it�ti acquiaition by Lendcr, Borrower's account shall be credited with any halance remaining for a.11. installments for items (a), (b), an�] (c). 3. Application of paymen#s, All payments under P�ragraphs 1 and 2 shall be: applied by Lender as follows: P'irst, to the mortgage insurance premium ta be paid by Lcndcr to the Secretu-y or to the monthly charge by the Secretary inste�d of the monthly mnrtgage insurance premium; 5econd, to any t�xes, s}�ecial assessments, leaseh�ld payments or ground rents, and fire, f7ood and other hazard insurance premiums, as ree�uired; Third, to interest due under tYze Note; HCFG-00703 FHA Deed ot Trust-NE Revised A196 VMP� Wolters Kluwer Financial &ervices 201012294.0.0.0.4002-J20100902Y Page 2 of 8 •74189 D 1fi•