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20110303� This debt is evidenced by Borrower' s note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on May 01, 2041 . This Security Instrument secures to Lender: (a) the repayment of the debt 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 pazagraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Bonower irrevocably grants and conveys to the Trustee, in tcvst, with power of sa1e, the following described property located in Hall County, Nebraska: LOT FOUR (4), BLOCK FIE'TEEN (15), ROLLINS ADDITION TO THE CITY OF GRAND ISLAND, HALL COLTNTY, NEBI2ASItA. Parcel ID Number: 400085283 which has the address of 915 W 5th street [street] Grand Island [city], Nebraska 68801 [zip Code] ("Property Address"); TOGETI-�R WITH a11 the improvements now or hereafter erected on the property, and all easements, appurtenances and fixtures now or herea.fter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Bonower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument; but, if necessary to comply with law or custom, MERS, (as nominee for Lender and Lender' s successors and assigns), has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing or canceling this Security Instrument. BORROWER COVENANTS that Bonower is lawfully seized 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. Bonower warrants and will defend generally the title to the Properiy against a11 claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covena:nts for narional use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Borrower and Lender covenant and agree as foilows: LJNIFORM COVENANTS. 1. Payment of Principal, Interest and Late Charge. Bonower sha11 pay when due the principal o� and interest on, the debt evidenced by the Note and late charges due under the Note. Z. Monthly Payment of Tazes, Insnrance 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 reqwred under paragraph 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 Lender still held the Security Instrument, each monthly payment shall also include either: (i) a sum for the annual mortgage insurance premium to be paid by Lender 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 Secretary. Except for the monthly charge by the Secretary, these items aze called "Escrow Items" and the surns paid to Lender aze called "Escrow Funds." 2200122430 V Initiels: / VMP�-4N(NE) coao�l.o� Page 2 of 6