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�01104�6�
<br />1023110097
<br />Dollars (U.S. $160, 817 . 00). This debt is evidenced by Borrower's note dated the same date as this
<br />Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier,
<br />due and payable on JULY 1, 2 0 41. This Security Instrument secures to Lender: (a) the repayment of the
<br />debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the
<br />payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security
<br />Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument
<br />and the Note. For this purpose, Bonower, in consideration of the debt and the trust herein created,
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property
<br />located in IIALL County, Nebraska:
<br />LOT ONS (1), QRAND W83T FOVRTH SIIBDIVISION, IN THE CITY OF C3RAND ISLAI�TD,
<br />HALL CO'tlNTY, NEBRASKA.
<br />which has the address of 4003 CRA=a DRIVE, aRAND IsLAND, N8 68803 ("Property Address");
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil, and gas rights and profits, water rights and
<br />stock and fixtures now or hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is refened to in this Security Inshument as the
<br />"Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by
<br />Bonower in this Security Instiument; but, if necessary to comply with law or custom, MERS (as nominee for
<br />Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including,
<br />but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender
<br />including, but not limited to, releasing or canceling this Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and
<br />has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for
<br />encumbrances of record. Bonower wanants and will defend generally the title to the Property against all
<br />claims and demands, subject to any encumbrances of record.
<br />1. Payment of Principal, Interest and Late Charge. Bonower shall pay when due the principal of,
<br />and interest on, the debt evidenced by the Note and late charges due under the Note.
<br />2. Monthly Payments of Tazes, Insurance and Other Charges. Borrower shall include in each
<br />monthly payment, together with the principal and interest as set forth in the Note and any late charges, an
<br />installment of any (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold
<br />payments or ground rents on the Property, and (c) premiums for insurance required by paragraph 4.
<br />Each monthly installment for items (a), (b), and (c) shall equal one-twelfth of the annual amounts, as
<br />reasonably estimated by Lender, plus an amount suf�icient to maintain an additional balance of not more than
<br />one-sixth of the estimated amounts, The full annual amount for each item shall be accumulated by Lender
<br />within a period ending one month before an item would become delinquent. Lender shall hold the amounts
<br />collected in trust to pay items (a), (b), and (c) before they become delinquent.
<br />If at any time the total of the payments held by Lender for items (a), (b), and (c), together with the
<br />future monthly payments for such items payable to Lender prior to the due dates of such items, exceeds by
<br />more than one-sixth the estimated amount of payments required to pay such items when due, and if payments
<br />on the Note are current, then Lender shall either refund the excess over one-sixth of the estimated payments
<br />or credit the excess over one-sixth of the estimated payments to subsequent payments by Bonower, at the
<br />option of Bonower. If the total of the payments made by Bonower for item (a), (b), or (c) is insufficient to
<br />pay the item when due, then Borrower shall pay to Lender any amount necessary to make up the deficiency
<br />on or before the date the item becomes due.
<br />As used in this Security Instrument, "Secretary" means the Secretary of Housing and Urban
<br />Development or his or her designee. In any year in which the Lender must pay a mortgage insurance
<br />premium to the 5ecretary, each monthly payment shall also include either: (i) an installment of the annual
<br />mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a
<br />FHA Nebraska Deed Of Trast - 07/08
<br />� 391.8 Page 2 of 9
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