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200602950 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 of MERS. TIlls 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 of [Type of Recording Jurisdietionl HALL [Name of Recording Jurisdicljon] U~XKms~N~X~KlKlRernxXNM1WlEXJXRmHlJfKIK~K THE WESTERLY 64 FEET 1 INCH OF LOT 19, AND THE NORTHERLY 5 FEET OF THE WEST 64 FEET 1 INCH OF LOT 20 AND THE WEST 50 FEET OF THE SOUTHERLY 47 FEET OF LOT 20, WEST LAWN ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA. which currently has the address of 1909 STATE ST [Street] GRAND ISLAND [City] , Nebraska 68803 [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacement,> 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, if nccessary 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 intcrests, 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 tillS 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 warrant,> and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines mllfonn covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitutc a unifonn security instrument covering real property. UNIFORM COVENANTS. Borrowcr and Lender covenant and agree as follows: 1. Payment of Principal, Interest and Other Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and if allowablc under Applicable Law, any prepayment charges and late chargcs duc under the Note. Payments due under the Notc and this Security Instrument shall bc made in U.S. currcncy. However, if any check or other instrument received by Lcnder as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due undcr the Note and this Sccurity Instrument bc 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 cashicr' s check, provided any such check is drawn upon an institution whose deposits are insured by a fedcral agency, instrumentality, or entity; or (d) Electronic Funds Transfer. 2. Application of Payments or Proceeds. Payments arc deemed receivcd by Lendcr when received at the location designated in the Note or at such other location as may be designated by Lender in accordance Witll the notice provisions in Section 14 or in such manner or location as required under Applicable Law. Except as otherwise described in this Section 2, and NEBRASKA DEED 01<' TRUST-Single Family--Secondary Lien THE COMPLIANCE SOURCE. INC. <0 p< II J II ITEM 8627L3 (0304}-MERS MFNE3118 (Paxe 3 r!f J J l'ag~ 400071R2:'l~ GREATLAND. To Ohler Call: 1""'800-530-9393 D Fax: 616-791-1 131