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2�11�322� provides for monthly payments, with the full debt, if not paid earlier, due and payable on May 1 , 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 all other sums, with interest, advanced under paragraph 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 trust, with power of sale, the following described property located itt H A L L County, Nebraska: Lot Six (6), Block Three (3), in Park Place, An Addiiton to the City of Grand Island. Hall County. Nebraska. Parcel ID Number: 400Q75172 which has the address of 524 W 15�h St [Street] G r a n d I s 1 a n d [city�, Nebraska 6 8 8 O 1 [Z ip Code] ( "Property Address"); TOGETHER WITH all the improvements now or hareafter erected on the property, and a11 easements, appurtenances and fixtures now or hereafter a part of the property. All replacements and additions sha11 also be covered by this Security Tnstrument. All of the faregoing is referred to in this Security Instniment as the "Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and couvey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covezing real property. Borrower and Lender covenant and agree as follows: UNIFORM COVENANTS. 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. Z. Monthly Payment of Tazes, Insurance and Other Charges. Borrower shall include in each monthly payment, together with the principal and interest as set £orth in the Note and any late charges, a sum for (a) ta�ces and special assessments levied or to be levied against the Properly, (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 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 Secreta.ry, these items are called "Escrow Items" and the sums paid to I.ender are called "Escrow Funds." 0451101938 FHA Deed of Trust-NE 4/96 VMP � 2, ' MP4R(Nt� (0809� Wolters Kluw er Financial Services {�age 2 of