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20�201296 (0) 'Teriodic Payment" means the regulazly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) '�iESPA" means the Real Estate Settlement Procedures Act (12 U. S. C. §2601 et seq. ) and its implementing regulation, Regulation X(24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regazd to a"federally related mortgage loan" even if the Loan does not qualify as a"federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or tlus Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's successors and assigns) and the successors and assigns of MERS. This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For tkris purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the COUNTY of HALL • [TY� of Recording Jwisdiction] [Name of Recording Jisisdiction] LOT THI2EE (3) IN SADDLE CLUB SUBDIVISI�T IN fTAI�L COLA�TI'Y. 1�B'RASKA. A.P.N.: 400214881 which currently has the address of GRAND ISLAND [��tYl 3612 E. , Nebraska BISMARK ROAD [street] 68801 �z� coa�� ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtutes 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 referred to in ttris Security Instrument as the "Property." Bonower understands and agrees that MERS holds only legal title to the interests granted by Borrower in ttus Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender' s successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling tlus Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Properiy and that the Property is unencumbered, except for encumbrances of record Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record NEBRASKA-Single Family-UNIFORM INSTRUMENT �aglc � MODIFl� FOR DEPARTMENT OF VETERANS AFFAIRS - MERS www.doanagfc.com (Rev. 1/01) Page 3 of 14 IIIIIIIIIIIIIUIII��IIIIII�I��IIIII�IIIIIIIIuIIIII)