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20]203243
<br />DOC TD 4: 00024193853304012
<br />Parcel LD Number: 400206080 which currently has the address of
<br />i725 SAINT PAUL RD, GRAND ISLAND ,
<br />ISVeedCiryJ
<br />Nebraska 68801 -2434 ( "Property Address ").
<br />[Zip Codel
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all casements,
<br />appurtenances, 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 referred to in this Security Instrument as the
<br />"Propelty." Borrower understands and agrees that MGRS holds only legal title to the interest granted by
<br />Borrower in this Security fi stiument, but, if necessary to comply with law or custom, MERS (as nominee for
<br />Lender and Lenders successors and assigns) has the right: to exercise any or all of those interests-, including, but
<br />not limited lo, the right to foreclose and sell the Property; and to take any action required of Lender including,
<br />but not limited to, releasing and c;mceling this Security Instrument
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey the Properly and that the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to
<br />any encumbrances of record.
<br />THIS SECURITY INS IRUMFNT combines uniform covenants for national use and non - uniform covenants
<br />with limited variations by jurisdiction to constitute a uniform security instrument covering real properly.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />L Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower
<br />shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment
<br />charges and late charges due under the Note. Borrower shall also pay funds for Escrow Trellis pursuant to
<br />Section 3. Payments due under the Nate and this Security Instrument shall be made in U - currency_
<br />However, if any check or other instrument received by Lender as payment under the Note or this Security
<br />Instrument is returned to Lender unpaid, Leader may require that any or all subsequent payments due under
<br />the Nate and this Security Instrument be made in one or more of the following farms, as selected by
<br />Lender: (a) cash; (b) money order, (c) certified check, bank check, treasurers check or cashier's check,
<br />provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity; or (d) Electronic Funds 'transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such
<br />other location as may be designated by Lender in accordance with the notice provisions in Section 15.
<br />Lender may return any payment or purliul payment if the payment or partial payments are insufficient to
<br />bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan
<br />current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial
<br />payments in the future, but Lender is not obligated to apply such payments at the time such payments are
<br />accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest on unapplied funds. Lender may hold such unapphed funds until Borrower makes payments to
<br />bring the Loan current. If Borrower does not do so within a reasonable period of tine, Lender shall either
<br />apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the
<br />outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which
<br />Borrower might have now or in the future against Lender shall relieve Borrower front making payments
<br />due under the Note and this Security Instrument or performing the covenants and agreements secured by
<br />this Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the
<br />Note, (b) principal due under the Note; (e) amounts due under Section 3. Such payments shall be applied to
<br />each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to
<br />late charges, second to any other amounts due under this Security Instrument, and then to reduce the
<br />principal balance of the Note.
<br />If lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late
<br />charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from
<br />Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in
<br />full_ I a the extent that any excess exists after the payment is applied to the full payment of one or more
<br />Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be
<br />applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the
<br />Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments-
<br />NEBRASKA - Single Family -- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT (MERS) Form 30281101
<br />MERS Deed of Trust -NE
<br />2006A -NE (12111) Page 3 of 12
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