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<br />LOT SIXTEEN (16), FONNER VIEW SUBDTVISIODI, IN THE CIT'j' OF GRAND�.ISLAND,
<br />HALL COUNTY, NEBRASKA.
<br />which has the address of
<br />GRQND ISLAND
<br />[crty]
<br />1'i32 SOUTH CHERRY STREET
<br />{street]
<br />, Nebraska 688Q7 ("Property Address"),
<br />L�P �]
<br />'I'OGETfi�R WT1TI all the improvements now or hereafter erected on the properiy, and all easements, agpurtenances, and
<br />fixtures ttow or hereafter a part o£the praperty. All replar�ements and ad.ditians shall also be covered by tbis Security Instrument.
<br />All of the foregoiug is referred to in this Security lnstrument as the "Properrty." Borrower understancls and agrees that MERS
<br />halds only lagal title tu the interes�s granted by Borrower in diis Security �st,cv,ment; but, if necessary to comply with law
<br />or custom, MERS (as nomznee for Lender aaad Lender's successors and assigns} bias the rig}at: to exercise any or all of thase
<br />interests, including, but not limited ta, the right to fozeclose and sell the Pzoperty; anfl to t�lce azry action required of Lender
<br />inciuding, but not limited to, releasing or canceliung this Security Instrument.
<br />Bt?RR.OVJBR COVENANTS that Borrower is lawfully seised of the estate hezeby conveyed aaod has the rigixt to grant and
<br />convey t �roperty and t�at t�e �'roperty is unencumbered, except for encumbramces of ;record. Bozrower w�rxants and will
<br />defend generally the title to the Yroperty against a.il claims aud demands, subject to any encumbrances of record
<br />THIS SEGUR��`Y INSTRUIV�NT coznbines ux�i.fo�rna covenants �ar national use and non-uniform covenants with limited
<br />variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS, Boaower and Lender covenant and agree as foIlows:
<br />I. Payment of Princ'rpal, Interest and Late Charge. Borrower shall gay when due the principal. o� and interest on, the
<br />debt evidenced by the 1�Tote aud �ate charges due under the Note.
<br />2. Monthly Payment of Ta�es, Insurance, and Other Charges. Borrower shall incIude in each monthly paym.ent,
<br />togetkier wztb. the principal and iu�►terest as set fort� in the Note an.d any late charges, a sum far (a) taxes and special assessments
<br />levied. or to be levied against the Property, (b) leasahold payments or gound rents on the Properly, and (c) premiums for
<br />ins�ance required under paragraph 4. In any year in w�uicb the I.ender must pay a mortgage iasurdnce premium to tlze Secrefary
<br />of Housing and Urbaa I3evelopment ("Secretasy"), or in any year in which suah prezrniur�a would have been required if Lender
<br />still held the Security Tnsmiment, each mont.hly payment shalt aIso inclnde ez�.er: (i} a sunm� for the annual mortgage insurancs
<br />premium to be paid by �ender to the Secretary, or (ii) a mon#1ily charge iastaad. of a mortgage inswranca prez�tium if tkxis Secwity
<br />bnsh ument is held by ths Secretazy, ixz a reasonable amflux►t to be determined by the 3eeretaiy. Except far the manthiy cha,rge by
<br />the Secretary, t�ese Stems are called "Escrow Items" and the sums paid to Lender are called `�scrow Funds."
<br />Lender may, at any t�ime, collect and hold amownts for Escrow Ztems in an aggregate amount not to exceed fhe maximum
<br />amount that may be requirad for Borrower's escrow accaunt under t7ie Rea1 Bstate Settlement Proceduzes Act af 1974, J 2
<br />U.S.C. § 2601 et seq. and implementing ragulations, 24 CFR Part 3500, as they may be aanended from time to time ("RESPA"},
<br />except t�at the cushion or reserve permitted by RESPA for uuanticzpa�ed disbursements or disbursements before ti�e Borrower's
<br />payments are available in t�e account may not be hased o�. aroaounts due for the mortgage nms�ance premium.
<br />If the amounts held by Lender far Escrovv Itenas exceed tk�e amounts permitted to be held by RESPA, Landar shall accaunt
<br />to Borrawer for the axcess funds as required by RESPA. If �e amounts of fuads lteld by Lender at an.y time are not sufficient
<br />to pay the Escrow Items when due, Lendez may notify the Borrower and rec�uire Borrower to make up the shorhage as perm.it�ed
<br />by RESPA.
<br />The Escrow Funds are pledged as additianal security for all sw�►xs secured hy this Security In,�ttvmen� �Bonrower tenders
<br />to Lender the full payment of all such sums, Barrower° s account shail be crediteti wi.th che batance remaining for aIl installmez�t
<br />rr�xns�cn �an n��n oF Txusr
<br />NEBRASKA»NIERS
<br />J'FEIrA 2894L2 (1 D1509)
<br />SAYNE,C0000431353
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<br />OOQ�043135�3
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