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20120254� agreements under this Security Instrument and the Note. For tlu$ purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described pr�periy located in the County of Hall: Lot six (�, Eagle Lake Estates Subdivision, Hall Coun Nebraska. Parcel ID Number: 400210010 which currently has the address of 517 Linden Ave Grand Island, l�1EB KA 68801, ("Property Address"): TOGETHER WITH a11 the improvements now or her er erected on the property, aad a11 easements, appurtenances, and fixtures now or hereafter a part of the prop . All replacements and additions sha11 also be covered by this Security Instrument. All of the foregoing is referced to uh this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the inkerests granted by Bonower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nomuYee for Lender and Lender's successors and assigns) has the right: to exercise any or a11 of those interests, including, but not limited to, the right to foreclose and sell the Properiy; and to take any action required of Lender including, but npt limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully sei�zed of the estate hereby conveyed and has the right to grant and convey the Property and that the Properiy is unenc bered, except for encumbrances of record. Borrower warrants and will defend generally the ritle to the Property ag ' a11 claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines unifortn cove ants for national use and nott-uniform covenants with limited variations by jurisdicrion to constitute a uniform securi instrument covering real property. UNIFORM COVENANTS. Bonower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayqnent Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by;the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and thi's Security Instrument sha11 be ma.de in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is r,eturned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Securi� Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) cert fied check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received t the location designated in the Note or at such other location as may be designated by Lender in accordance with the otice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments e insufficient to bring the Loan current. Lender may accept a.ny payment or partial payment insufficient to bring the oaa current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments aze accepted. If each Perio c Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may ho�!d such unapplied funds until Borrower makes payment to bring the Loan current. If Bonower does not do so within a re8sonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender sha11 relieve Borrower from making payments due under the Note and this Security Instrument or perfomvng the covenants and agreements secured by this Secur�ty Instrument. 2. Application of Paymen� or Proceeds. Except as oth se described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of p iority: (a) interest due under the Note; (b) principal due Page 3 of with MERSForm 3028 1/01 ios, inc. I BoROwer(s)