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200411796 <br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the <br />Note, plus (ii) any amounts under Section 3 of this Security Instrument. <br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its <br />implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to <br />time, or any additional or successor legislation or regulation that governs the same subject matter. As used <br />in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard <br />to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage <br />loan" under RESPA. <br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or <br />not that party has assumed Borrower's obligations under the Note and /or this Security Instrument. <br />TRANSFER OF RIGHTS IN THE PROPERTY <br />This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and <br />modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this <br />Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to <br />Trustee, in trust, with power of sale, the following described property located in the <br />County of HALL <br />[Type of Recording Jurisdiction] [Name of Recording Jurisdiction] <br />A certain tract of land in the West Half of the Northwest Quarter <br />(W1 /2NW1 /4) of Section Four (4), in Township Eleven (11) North, Range <br />Nine (9) West of the 6th P.M., Hall County, Nebraska, more particularly <br />described as follows: Beginning at a point on the County line <br />Thirty -three (33.0) feet South and Two Hundred Six (206.0) feet West of <br />the Northeast Corner of said West half of the Northwest Quarter <br />(W1 /2NW1 /4) in Section Four (4), Township Eleven (11) North, Range Nine <br />(9) West of the 6th P.M.; running thence South parallel to the West line <br />of said West Half of the Northwest Quarter (W1 /2NW1 /4) for a distance of <br />Two Hundred Fifty -seven (257.0) feet; thence running West at right angles <br />for a distance of One Hundred Sixty -five (165.0) feet; thence North at <br />right angles for a distance of Two Hundred Sixty and Four Tenths (260.4) <br />feet, to the County Road line; thence East along said County Road line, <br />for a distance of One Hundred Sixty -five (165.0) feet to the point of <br />beginning. <br />Parcel ID Number: 400205602 which currently has the address of <br />201 E AIRPORT ROAD [Street] <br />GRAND ISLAND [City], Nebraska 68803 -9303 [zip Code] <br />( "Property Address "): <br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all <br />easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and <br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this <br />Security Instrument as the "Property. " <br />BORROW;R COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has <br />the right to grata and convey the Property and that the Property is unencumbered, except for encumbrances <br />of record. Borrower warrants and will defend generally the title to the Property against all claims and <br />demands, subjcct to any encumbrances of record. <br />(M-6(NE) (000� 1 <br />Initial <br />Page 3 of 15 <br />0110226088 <br />Form 3028 1/01 <br />.V <br />It <br />