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200601850 DOC ID .: 00012506320602006 SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. Parccl II) Number: 400133520 which clII'renUy has the address of 901 W 11TH SI, GRAND ISLAND [SlreellCityl Nebraska 68801- 4013 ("Property Address"): IZip Code) TOGETHER WITH all the improvements now or herearLer erected on the properly, and all easemenls, appurtcrllmces, and fix.lures now or hereafter a parl of lhc property. All replaccments and addilions shall also be covered by lhis SecurilY Instnllnenl. All of the foregoing is referred 10 in lhis Securily Inslrumenl as lhe "ProperlY." Borrower underSlands and agrees lhal MERS holds only legal LiUe lo the interest granted by Borrower in this Securily Instrumenl, hUl, if necessary to comply wilh Jawor cuslom, MERS (as nominee for Lender and Lender's successors and assigns) has the right 10 exercise any or all of those interests, including, bUl nOl limited lo, the righl 10 foreclose and sell lhe Properly; nnd to take any aClion required of Lender Illcluding, bul nOllimited 10, releasing and canceling this Security InslnnTlenl. BORROWER COVENANTS Ihal Borrower is lawfully seised of the eslale hereby conveyed and has Ihe right 10 grant and convey the Property and lhat Ule Property is unencumbered, excepl for encumhrances of record. Borrower warralllS and will defend genemlly the tille 10 the Property against all claims and demands, subject 10 any encumbrances of record. TI-IIS SECURITY INSTRUMENT combines unifOnTI covenants for national use and non-unifonn covenalllS with limited variations by jurisdiction to constitute a uni fonn security inslrumenl covering real property. UNIFORM COVENANTS. Borrower and Lender covennntand agree as follows: 1. Payment of Principal, Interest, Escrow Hems, l)n~puYl1wnt Clmrges, and Late Churges. Borrower shall pay when due lhe principal of, and interest on, the debt evidellccd by the Note aud any prepayment chargell and lale charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and Lhis Seeurily IrmLrumenl shall be made in U.S. currency. However, if any check or other instnunent received by Lender as payment under the Note or lhis Security Instrument is returned \0 Lender unpaid, Lender may require Lhal flny or all subsequent payments due under the NoLe and this Security Instrument be mllde in one or more of the following fonns, llS selected by Lender: (a) cash; (b) money order; (c) certified check. bauk check, treasurer's check or eashiel"s check, provided any such check is drawn upon an inSlitution whose deposits arc insured by a federal agency, instrumenlalily, or entily; or (d) E1eclronic Funds Transfer. PaymenLs are decmed received by Lender when received althe localion designatcd in the Note or at such other location as may be designaled by Lender in accordance WiUl lhe notice provisions in Section 15. Lender mlly return any paymenl or partial payment if the paymelll or partin I payments arc insufficient to bring lhe Loan currenl. Lender may aceepl any payment or pnrlial payment insurrieient 10 bring lhe Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment 01' parlial paymerlls in lhe fUlure, bul Lender is not obligaled to apply such paymenls at the time such payments arc accepted. If each Periodic Payment is applied as of ils scheduled due date, then Lender necd not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan currenl. If Borrower docs not do so within a reasonable period of lime, Lender shall either apply such f\mds or return them to Borrower. If not applied earlier, such funds will be applied to the oulstanding principal balance under lhe Note immediately prior to foreclosure. No offsel or claim which Borrower mighl have now or in Ihe future against Lender shall relieve Borrowcr from making paymenlS due under the Note and this Security Inslrument or perfol'ming the covenanls and agreements secured by this Securily Instrument. 2. Application of Payments or I)roceeds, Ex.cept as otherwise described in this Section 2, all payments aecepled and applied by Lender shall be applied in the following order of priority: (a) interest due under lhe Note; (b) principal due under lhe Note; (c) amounts due uuder Section 3. Such payments shall be applied 10 each Periodic Payment in the order in which it became due. Any remaining amounLs shall be applied lirstto late charges, Recollllto any other amounts due under lhis Security Instnnnent, Hlld then to reduce Ihe principal balance of the Note. If Lender receivcs a payment fl\lm Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge dne, the payment may be applied to the delinquent paymenl and Ihe late charge. If lTIore lhlln one Periodic Payment is outstllnding, Lender lTIny apply any payment received from . -6A(NE) (0407) <lil CHL (08/05) Page 3 or 11 Form 3028 1/01