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�oi��s�� is evidenced by Bonower's note dated the same date as this 5ecurity Instn�ment ("Note°), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on October 1, 2041 . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under pazagraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Bonower irrevocably grants and conveys to the Trustee, in trust, with power of sale, the following described property located in H a 11 County, Nebraska: Lot Two (2), Block Fifteen (15), Wallichs Addition to the City of Grand Island, Hall County, Nebraska. Parcel ID Number:400106493 w}uch has the address of 12 0 9 W 7 t h S t [Street] Grand Isl and [City], Nebzaska 68801 [Zip Code] ("Property Address"); TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is refened to in this Security Instrument as the "Property." BORROWER COVENANTS that Bonower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower wazrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instnunent covering real property. Uniform Covenants. Bonower and L.ender covenant and agree as follows: 1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and late chazges due under the Note. 2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall include in each monthly payment, together with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for insurance required under paragraph 4. In any yeaz in which the Lender must pay a mortgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been reqwired if Lender still held the Security Instrument, each monthly payment shall also include eithex: (i) a sum for the annual FHA Deetl of Trust-NE 4/98 VMP � VMP4R(NE) (1105) Waltera Kluwer Financial Serv(ces Page 2 of 70