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200510528 and restrictions that are imposed in regard to a "federally related mortgage loan" even ifthe Loan does not qualifY as a "federally related mortgage loan" under RESP A. (R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower'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 nominee for Lender and Lender's successors and assigns) and the successors and assigns ofMERS. This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower' s covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the County [Type of Recording Jurisdiction) of Hall [Name of Recording Jurisdiction) A tract of land comprising part of the Northeast Quarter (NE1/4) of Section Thirty (30), Township Nine (9) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska, more particularly described as follows: Beginning at the Northeast Comer of said Northeast Quarter (NEl/4), Section Thirty (30); thence mnning Southerly along the Easterly line of said Northeast Quarter (NE1/4) a distance of Four Hundred Forty (440) Feet; thence mnning Westerly and parallel to the Northerly line of said Northeast Quarter (NE1/4) a distance of Two Hundred Ninety Seven (297) Feet; thence mnning Northerly and parallel to the Easterly line of said Northeast Quarter (NE1/4) a distance of Four Hundred Forty (440) Feet to a point on the Northerly line of said Northeast Quarter (NE1/4); thence running Easterly along the Northerly line of said Northeast Quarter (NEl/4) a distance of Two Hundred Ninety Seven (297) Feet to the point of beginning. which currently has the address of14030 S 70th Rd [City] , Nebraska 68832 [Zip Code] [Street] ("Property Address"): Doniphan TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part ofthe property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, ifnecessary 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 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 Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items. Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all 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) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution 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 designRted by Lender in accordance with the notice provisions in Section 15. Lender may return 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 ofany rights hereunder or prejudice to its fights to refuse such payment or partial pa~ents in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Penodic Payment is applied as ofits scheduled due date, then Lender need not pay interest 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 oftime, Lender shall either apply such funds or return them to Borrower. Ifnot applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making l?ayments due under the Note and this Security Instrument or performing the covenants and agreements secured by thIS Security Instrument. NEBRASKA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT 12439.CV (10/02) 900187 (MERS) Form 3028 1/01 (page 2 of 8 pages) 1!!!- d.- - GOTO(000Iac6d)