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20�iO402� Description Attached Hereto and made a part hereof has the address of Grand lsland , Nebraska [ciry] 4398 Lariat Lane [streec7 68803 (°�property Address"); [Zip Code] I OGE`I`HER WITH all the improvements now or hereaftar erected on the property, and all easements, appurtenances, and fix ' es now or hereafter a part of the property. AII replacemen�s and additions shall also be covered by this Security Instrument. All � the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees t}�at MERS hol � only legal ritle to the interests granted by Borro�rer��tius �Security Instrument; but, if necessary to comply with law or c � tom, MERS (as norninee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those inte sts, including, but not limited to, the right to foreclose and sell the Property; and to take any acrion required of Lender incl ing, but not limited to, releasing or canceling this Security Instrument. , ORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and con y the Properly and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will def ' d generally the title to the Property against all c�aims and demands, subject to any encumbrances of record. � THIS SECiJRITY INSTRUMENT cornbines uniform covenants for national use and non-uniform covenants with limited by jurisdiction to constitute a uniform security instrument covering real property. of the �RM COVENANT'S. Borrower and Lender covenant and agree as foilows: 1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, and interest on, the videnced by the Note and late charges due under the Note. 2. Monthly Payment of Taxes, Insurance, and Other Charges. Borrower shall include in each monthly payment, er with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special assessments or to be levied against the Property, (b} leasehold payments or ground rents on the Property, and (c) premiums for ice required under paragraph 4. In any year in which the Lender must pay a mortgage insurance premium to the Secretary ising and Urban Development ("Secretary"), or in any year in which such premium would have been required if Lender ;ld the Security Instrument, each monthly payment shall also include either. (i) a sum for the annual mortgage insurance un to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premium if this Security nent is held by the Secretary, in a reasonable amount to be deternuned by the 5ecretary. Except for the monthly charge by 7etary, these items are called "Escmw Items" and the sums paid to Lender are called `Bscrow Funds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate arnount not to exceed the maacimum am t that may be required for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1974, 12 U. �, .§ 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended from time to time ("RESPA"), exc t that the cushion or reserve pemutted by RESPA for unanticipated disbursements or disbursements before the Borrower's pa ents are available in the account may not be based on amounts due for the mortgage insw�ance premium. If the amounts held by Lender for Escrow Items exceed the amounts pernvtted to be held by RESPA, Lender sha11 account to rrower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any tune are not sufficient to �, y the Escrow Items when due Lender may notify the Borrower and re uire Borrower to make th h rta 'tted by SPA. ' q up e s o ge as pemu The Escrow Funds are pledged as additional security for all surns secured by tPris Security Instrument. If Borrower tenders to , nder the full payrnent of all such sums, Borrower's account shall be credited with the balance remaining for a11 installment FHA DEED OF TRUST �� 6/96 Great�cs� (Page 2 of 8J 321-3009575-703 ��