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2 O �����` 4 V2 WBCD LOAN # 503153439
<br />pertormance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose,
<br />Borrower irrevocably grants and conveys to the Trustee, in trust, with power of sa(e, the following described property
<br />located in H2wL County, Nebraska:
<br />Lot Thirty-two (32), Country Meadows Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska.
<br />APN #: 4Q0410370
<br />which has the address of 4145 PRAiRiE RiDGE LN, GRAND ISLAND,
<br />Nebraska 68803
<br />[Zip Codej
<br />("Property Address");
<br />[Street, Cityl,
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances
<br />and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security
<br />Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and
<br />agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary
<br />to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to
<br />exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take
<br />any action required of Lender including, but not limited to, releasing and canceling this Securify Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the rightto grant
<br />and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to any
<br />encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />Borrower and Lender covenant and agree as follows:
<br />UNIFORM COVENANTS.
<br />1. Payment of Principal, Interest and Late Charge, Borrower shall pay when due the principal of, and interest
<br />on, the debt evidenced by the Note and late charges due under the Note.
<br />2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall include in each monthly payment,
<br />together with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special
<br />assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and
<br />{c) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a mortgage insurance
<br />premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would
<br />have been required if Lender still held the Security Instrument, each monthly payment shall also include either: (i) a sum
<br />for the annual mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of
<br />a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to be
<br />determined by the Secretary. Except for the monthly charge by the Secretary, these items are called "Escrow Items"
<br />and the sums paid to Lender are called "Escrow Funds."
<br />Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the
<br />maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures
<br />Act of 1974,12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended
<br />from time to time ("RESPA"), except that the cushion or reserve permitted by RESPA for unanticipated disbursements
<br />or disbursements before the Borrower's payments are available in the account may not be based on amounts due for
<br />the mortgage insurance premium.
<br />If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA, Lender shall
<br />account to Borrower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any time is
<br />not sufficient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to make up the
<br />shortage as permitted by RESPA.
<br />The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If Borrower
<br />tenders to Lender the full payment of all such sums, Borrower's account shall be credited with the balance remaining
<br />for all installment items (a), (b), and (c) and any mortgage insurance premium installment that Lender has not become
<br />obligated to pay to the Secretary, and Lender shatt promptly refund any excess funds to Borrower. Immediately prior
<br />to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be credited with any balance
<br />remaining for all installments for items (a), (b), and (c).
<br />3. Application af Payments. All payments under paragraphs 1 and 2 shall be applied by Lender as foltows:
<br />First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the
<br />Secretary instead of the monthly mortgage insurance premium;
<br />FHA Nebraska Deed of Trust- 4/96 Initials
<br />Online Documents, Ina �, Page 2 Of 6 NE H D 802
<br />03-16-2011 15s46
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