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<br />V3 WBCD LOAN # 503184726
<br />performance of Borrowrer'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 sale, the following described property
<br />located in Hall County, Nebraska:
<br />Lot One (1), Wrede-Meyer Subdivision in the City of Grand Island, Hall County,
<br />Nebraska.
<br />APN #a 400051540
<br />which has the address of 1512 w 3ixn st, Grand Island,
<br />Nebraska 6880]. ("Property Address");
<br />[Zip Code]
<br />[Street, city],
<br />TOGETHER WITH all the improvements nowor 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 bythis 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, 'rf 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 nof limited to, the right to foreclose and sell the Proper•ty; and to take
<br />any action required of Lender including, but not limited to, releasing and canceling this Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seized ofthe estate hereby conveyed and has the rightto grant
<br />and convey the Property and that the Properly is uneneumbered, except for encumbrances of record. Borrower
<br />warrants and will defend generally the title ta the Property against all claims and demands, subject to any
<br />encumbrances of record. �
<br />,
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-un'rform covenants with
<br />limited variations by jurisdictian to constitute a uniform security instrument covering real property.
<br />Borrower and Lender covenant and agree as follaws:
<br />UNIFORM COVENANTS.
<br />1. Payment of Principal, Interest and Late Charge. Borrowrer 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. Borrowrer 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 Properiy, and
<br />(c) premiums for insurance required uncler 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 anyyear in which such premium would
<br />have been required 'rf 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 arrr�unt not to exceed the
<br />maximum�amount that may be required for Borrower's escrow account under the Real Estate 5ettlement 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 shall 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. Applicatlon af Payments. All payments under paragraphs 1 and 2 shall .be applied by Lendet as follows:
<br />First. to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge liy the
<br />Secretary instead of the monthly mortgage insurance premium;
<br />FHA Nebraska Deed of Trust-4/8B Initials s � oG
<br />Online Documents, Inc. Page 2 Of 6 NEEFHADE 0802
<br />05-16-2011 10s38
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