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2012039�� Parcel ID Number: 400439913 903 STONEWOOD AVE Grand Island ("Property Address"): wluch currently has the address of (street) (City), Nebraska 68803 (Zip Code) TOGETf�R WITH a11 the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. AII replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in ttus Security Instrument as the "Property." Borrower understands and agre,es that MERS holds only legal ritle to the interest granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assig�s) 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 this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Properiy 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 INSTRiJMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real PraP�Y• Uniform Covenants. Bortower and Lender vovenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bonower shall pay when due the principal of, and interest oq the debt evidenced by the Note and any prepayment charges aad late chazges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to Se�tion 3. Payments due under the Note and ttus Security Instrument sha11 be made in U. S. currency. However, if any check or other instrument received by Lender as payment under the Note or ttus Security Instrument is returned to Lender unpaid, Lender may require that any or a11 subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certifie� check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institutiton whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer: Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may retum any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan 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 are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay 'vnterest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or retum them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance uader the Note imm�iately prior to foreclosure. No offset or claim which Borrower aught have now or in the future against Lender sha11 relieve Borrower from making payments due under the Note and this Security Ittstrument or performing the covenants and agre,ements secured by this Security Instrument. 8807200789 8801200788 NEBRASKASInB�e Famlly-Fannle Mae/Freddle Mac UNIFORM INS7RUMENT WRH MERS Form 3028 1/07 VMP � VMPBA(Nq (11051 Wokers Kluwer Finenclal Servicea Pege 4 of 17