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20110445�
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in
<br />County, Nebraska:
<br />4L DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF
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<br />h has the address of 4155 Vermont Ave , Grand Island [Saeet, City],
<br />ka 68803 ("Property Address");
<br />[Zip Code1
<br />OGET'HER WITIi all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
<br />es now or hereafter a part of the property. All replacements and additions shall also be covered by this Security
<br />ent. All of the foregoing is referred to in this Security Inshvment as the "Property." Bonower understands and agrees
<br />ERS holds only legal title to the interests granted by Borrower in f.his Security Instrument, but, if necessary to comply
<br />aw or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right to exercise any or all of
<br />; interests, including, but not limited to, the rIght to foreclose and sell the Property; and to take any action required of
<br />r inclnding, but not litnited to releasing or canceling this Securlty Instrumettt.
<br />ORROWER COVENANTS that Borrower is lawfiilly seized of the estate hereby conveyed and has the right to mortgage,
<br />t and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants
<br />defend generally fhe title to the Property against all claims and demands, subject to any encumbrances nf record.
<br />S SECURIT'Y INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited
<br />ons by,jurisdicl3on to constilute a uniform security instrunaent covering real properly.
<br />NIFORM COVENANTS. Bonower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due We principal of, and interest on, the
<br />videnced by the Note and lafe charges due under the Note.
<br />. Monthly Payments of Taxes, Insurance and Other Charges. Borrower shall include in each monthly payment,
<br />er with the principal and interest as set forth in the Note and any late charges, a sum of (a) taxes and special assessments
<br />or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for
<br />ce required under paragraph 4. In any year in which the Lender must pay a mortgage insurance premium to the Secretary
<br />using and Urban Development ("Secretary"), or in any year in which such premium would have been required if Lender
<br />eld the Security Instncment, each monthly payment shall aLso include either: (i) a sum for the annual mortgage insurance
<br />um to be paid by Lender to the Secretary, or (ii) a montlily charge instead of a mortgage insurance premium if this
<br />'ty Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the monthly
<br />e by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds".
<br />Lender may, at any time, collect and hoId amounts for Escrow Items in an aggregate amount not to exceed the max�mUm
<br />t that may be reqnired for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1974, 12
<br />. section 2601 et seq. and implementing regulattons, 24 CFR Part 3500, as they may be amended from time to time
<br />� PA"), except that the cushion or reserve permitted by RESPA for unanticipated disbtirsements or disbursements before
<br />orrower's payments are available �ln the account may not be based on amounts due for tfie mortgage insurance premium.
<br />If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA, Lender shall account
<br />rrower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any time are not sufficient to
<br />e Escrow Items when due, Lender may notify the Borrower and reqwire Bortower to make up the shortage as permitted by
<br />A.
<br />The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If Bonower tenders
<br />nder the full payment of all such sums, Borrower's account shall be credited with tlie balance remaining for all installment
<br />(a), (b) and (c) and any mortgage insurance premium installment that Lender has not become obligated to pay to the
<br />tary, and Lender shall prompdy refund any excess funds to Bonower. Immediately prior to a foreclasure sale of the
<br />rty or its acquisition by Lender, Borrower's account shall be credited with any balance remaining for all installments for
<br />� (a), (b) and (c).
<br />3. Application of Payments. All payments under paragraphs i and 2 shall be applied by Lender as follows:
<br />First. to the mortgage insurance premium to be paid by Lender to the Secretary or to the monWly charge by the Secretary
<br />id of the montWy mortgage insurance premium;
<br />Second. to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard insurance
<br />iums, as required;
<br />Third, to interest due under the Note;
<br />Fourth. to amorfization of the principal of the Note; and
<br />Fifth, to late charges due under the Note. ��
<br />� M1590-2NE (o9/D1) Page 2 of 7 Initials: �
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