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200101449
<br />CASE #: LH343460152039 LOAN #: 1360281
<br />LOT 18, BLOCK 4, ASHTON PLACE, CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA.
<br />Parcel ID Number: 400010461 which currently has the address of
<br />2304 W CHARLES STREET, GRAND ISLAND ,
<br />[Street/City]
<br />Nebraska 68803 - ( "Property Address "):
<br />[Zip Code]
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also
<br />be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the
<br />"Property." Borrower understands and agrees that MERS holds only legal title to the interest granted by
<br />Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for
<br />Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including,
<br />but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender
<br />including, but not limited to, releasing and canceling this Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has
<br />the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of
<br />record. Borrower warrants and will defend generally the title to the Property against all claims and demands,
<br />subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform
<br />covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
<br />property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
<br />Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any
<br />prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items
<br />pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S.
<br />currency. However, if any check or other instrument received by Lender as payment under the Note or this
<br />Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments
<br />due under the Note and this Security Instrument be made in one or more of the following forms, as selected
<br />by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's 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
<br />such other location as may be designated by Lender in accordance with the notice provisions in Section 15.
<br />Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring
<br />the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current,
<br />without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in
<br />the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each
<br />Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied
<br />funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If
<br />Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return
<br />them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under
<br />the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the
<br />future against Lender shall relieve Borrower from making payments due under the Note and this Security
<br />Instrument or performing the covenants and agreements secured by 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; (c) 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 principal
<br />balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a
<br />sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the
<br />late 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. To the extent that any excess exists after the payment is applied to the full payment of one or ,)more
<br />Initials: LJIA
<br />40 - 8A(NE) (9so6).o2 CHL (03/00) Page 3 of 11 Form 3028 3/99
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