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<br />200600286 <br /> <br />does not qualify as a "federally related mortgage loan" under RESP A. <br /> <br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the <br />Property, whether or not that party has assumed Borrower's obligations under the Note and/or <br />this Security Instrument. <br /> <br />TRANSFER OF RIGHTS IN THE PROPERTY <br /> <br />This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, <br />extensions and modifications ofthe Note; and (ii) the performance of Borrower's covenants and <br />agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably <br />grants and conveys to Trustee, in trust, with power of sale, the following described property <br />located in the Hall County, State ofNE. <br /> <br />LOT TWO (2) OF L-K SECOND SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL <br />COUNTY, NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF. <br /> <br />Which currently has the address of 1604 Harrison Street, Grand Island, Nebraska, 68803 <br />("Property Address"): <br /> <br />TOGETHER WITH all the improvements now or hereafter erected on the property, and <br />all easements, appurtenances, and fixtures now or hereafter a part of the property. All <br />replacements and additions shall also be covered by this Security Instrument. All of the <br />foregoing is referred to in this Security Instrument as the "Property." <br /> <br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby <br />conveyed and has the right to grant and convey the Property and that the Property is <br />unencumbered, except for encumbrances of record. Borrower warrants and will defend generally <br />the title to the Property against all claims and demands, subject to any encumbrances of record. <br /> <br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and <br />non-uniform covenants with limited variations by jurisdiction to constitute a uniform security <br />instrument covering real property. <br /> <br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: <br /> <br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late <br />Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by <br /> <br />CHARl\764150_ I <br /> <br />14 <br />