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201108592
<br /> Loan No:3110818003 Data ID: 440
<br /> which has the address of 13537 WEST OLD POTASH HIGHWAY,WOOD RNER,
<br /> [strest] �ciry]
<br /> NEBRASKA 68883
<br /> [Zip Coda] ("Property Address");
<br /> TOGETHER WI"fH all the improvements now or hereafrer erected on the property, and all
<br /> easements,appurtenances,and fixtures now or hereafter a part of the property. All replacements and
<br /> additions shall also be covered by this Security Instrument.All of the foregoing is referred to in this
<br /> Security Instrument as the"Property."
<br /> SORROWER COVENANTS tha[Borrower is lawfully seised of the esTate hezeby conveyed and has
<br /> [he right to granE and convey the Property and that the Properry is unencumbered, except for
<br /> encumbrances of record. Borrower warrants and will defend generally the title to the Property against
<br /> all claims and demands,subject to any encumbrances of recotd.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform
<br /> covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> reai property.
<br /> UNIFORM COVENANTS, Borrower and I.ender covenant and agree as follows:
<br /> 1. Payment of Principal,Tnterest and Late Charge, Borrower shall pay when due the principal of,
<br /> and interest on,2he debt evidenced by the Note and late charges due under the Note.
<br /> 2. Monthly Payment of Ta�ees, 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,
<br /> a sum for(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 under paragraph
<br /> 4. In any year in which the L,ender must pay a mortgage insurance premium to the Secretary of
<br /> Housing and Urban Development("Secretary"),or in any year in which such premium would have been
<br /> required if L.ender stili held the Security Instrument,each monthly payment shall also include either:
<br /> (i)a sum for the annual mortgage insurance premium to be paid by L,ender to the Secretary,or(ii)
<br /> a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the
<br /> Secretary,in a reasonable amount to be de[ermined by the Secre[ary. Except far the monthly charge
<br /> by the Secretary,these items are called"Escrow Items"and the sums paid to Lender are called"Escrow
<br /> Funds."
<br /> Lender may,at any time,collect and hold amounts for Escrow Items in an aggregate amount not to
<br /> exceed the maximum amount that may be required for Borrower's escrow account under the Real
<br /> Es[ate Settlement Procedures Act of 1974,12 U.S.C.§2601 et sea•and implementing regulations,24
<br /> CFR Part 3500,as they may be amended from time to time ("RESPA"), except that the cushion or
<br /> reserve permitted by RESPA for unanticipated disbursements or disbursements before the Borrower's
<br /> paymen[s are available in the account may not be based on amounts due for the morigage insurance
<br /> premium.
<br /> If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by
<br /> RESPA,L,ender shall account to Borrower for the excess funds as required by RESPA. If the amounts
<br /> of funds held by Lender at any time are not sufficient to pay the Fscrow Items when due,Lender may
<br /> notify the Borrower and require Borrower to make up the shortage as permitted by RESPA.
<br /> The Escrow Funds are pledged as additionai security for ali sums secured by this Security Instrument.
<br /> If Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be credited
<br /> with the balance remaining for all installment items (a), (b), and (c) and any mortgage insurance
<br /> premium installment tha[L,ender has not become obligated to pay to the Secretary,and Lender shail
<br /> promptly refund any excess funds to Borrower. Immediately prior to a foreclosure sale of the Property
<br /> or its acquisiaon by Lender,Borrower's accoun[shall be credited with any balance remaining for all
<br /> installments for items(a), (b),and(c).
<br /> 3. Application of Payments. Al]payments under paragraphs 1 and 2 shall be applied by Lender as
<br /> follows:
<br /> First,to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly
<br /> charge by the Secretary instead of the monthly mortgage insurance premium;
<br /> Second,to any taxes,special assessments,leasehold payments or ground rents,and fire, flood and
<br /> other hazard insurance premiums,as required;
<br /> Third,to interesi due under the Note;
<br /> Fourth,to amoriization of the principal of the Note;and
<br /> Fif[h to late charges due under the Note.
<br /> 4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the
<br /> Property, whether now in existenca or subsequently erected, against any hazards, casualties, and
<br /> contmgencies,including fire,for which Lender requires insurance. This insurance shall be maintained
<br /> in the amounts and for the periods that Lender requires. Borrower shall also insure all improvements
<br /> on the Property,whether now in existence or subsequently erected,against loss by floods to[he extent
<br /> required by the Secretary. All insurance shall be carried with companies approved by Lender. The
<br /> insurance policies and any renewats shall be held by Lender and shall include loss payable clauses in
<br /> favor of,and in a form acceptable to,Lender.
<br /> NEBRASKA FHA DEED OF TRUST oe/tt (Page 2 0/6 Pages)
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