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<br />200602706 <br /> <br />(0) "Periodic Payment" rneans the regularly scheduled amount due for (i) prineipal and interest under the <br />Note, plus (ii) any amounts under Section 3 oftbis Security Instrument <br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.('. Scction 2(JOI et seq.) and its <br />implemcnting regulation, Regulation X (24 C. r. R. Pari 35(0), as they might be amcnded frOlIl time to <br />time, or any additional or succcssor legislation or regulation that governs the smile subject matter. As used <br />in this Security Instrumcnt, "RESPA" rcfers to all rcquit-enlents and restrictions that are imposed in regard <br />to a "fedcrally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage <br />loan" under RESPA. <br />(Q) "SUl\'cssor in Interest of Borrower" rlleans 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 /> <br />TRANsrER or RIGHTS IN 'fHE PROPERTY <br /> <br />This Sccurity Instrument secures to Lendcr: (i) the repayrnent of the Loan, and all renewals, extensions and <br />rllodilkations 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 />Trustce, 111 trust, with power of sale, the following dcscribed property locatcd III the <br />County of HALL <br />IT ype o!" Rccording Jurisdiction J I NalllC of Recording Jurisdiction] <br />LOT ONE (1), IN SPELTS-SCHULTZ ADDITION TO THE CITY OF GRAND ISLAND, HALL <br />COUNTY, NEBRASKA. <br /> <br />Parcel 10 Number: 400094444 <br />624 E BISMARK RD <br />Grand Island <br />("Property Address"): <br /> <br />which currently has the address of <br />IS trt'ct] <br />ICityJ, Nebraska 68801-8081 IZip ('odcJ <br /> <br />TOCiE1HER WITH all thc improvements now or hereafter erected on the property, and all <br />easements, appurtenances, and fixtures now or hereafter a pari of the property. A II rcplacements and <br />additions shall also be covcred by this Sccurity Instrument. All of the foregoing is referred to in this <br />Seeurity Instrument as thc "Property." <br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has <br />the right to grant and convey till' Property and that the Property is unencumbered, execpt fl.)r eneumbranccs <br />of record. Borrower warrants and will defend generally the title to the Property against all claims and <br />demands. subject to any encUlnbrallces of record. <br /> <br />Initials; A?fJOJD <br /> <br />0110247846 <br /> <br />G-6(NE) (0407).01 <br />@ <br /> <br />Page 3 of 15 <br /> <br />Fonn 3028 1/01 <br />