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201204150 (R) "Snccessor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Bonower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY The beneficiary of this Security Instrument is MERS (solely as nomittee for Lender and Lender's successors and assigns) and the successors and assigns of MERS. Tlus Security Instzument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Bonower's covenants and agreements under tlus Security Instrument and the Note. For this purpose, Bonower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the COUNTY of HALL . [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LOT EIGHT (8), BLOCK EIGHTY FIVE (85), WHEELER AND BENNETT'S FOURTH ADDITION TO THE CITY OF GR.AND ISLAND, HALL COUNTY, NEBRASKA. A.P.N.: 400126281 wlrich currently has the address of GRAND ISLAND [cityJ 116 WEST 15TH STREET (street] , Nebraska 6 8 8 01 ("property Address"): [z�P coa�� TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and addirions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Bonower understands and agrees that MERS holds only legal title to the interests 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 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 acrion required of Lender including, but not lnnited to, releasing and canceling tlus Security Instrument. BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Bonower wanants and will defend generally the ritle to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for narional use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Bonower and Lender covenant 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 on, the debt evidenced by the Note and any prepayment chazges and late charges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to Secdon 3. Payments due NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS Form 3028 1/01 Page 3 of 15 IIIIIIIII I�III III�II IIII I I II I II II I I IIIIII IIIIIIIIIII I III DacNag►e H� www.docmaglc.com �rr ` C�J