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200606038 the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (P) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (Q) "RESPA" means the Real Estate Settlement Procedures Act (12 D.S.C. 92601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the 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 of MERS. This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications ofthe Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably bl'fants and conveys to Trustee, in trust, with power of sale, the following described property located in the County of HALL [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] IDT ONE (1), BIDCK 'lWENTY FOUR (24), RUSSEL WHEELER t S ADDITION 'ill THE CITY OF GRAND ISIAND, HALL COUNI'Y, NEBRASKA GRAND ISLAND [City] , Nebraska 405 W. 11TH STREET [Street] 68801 ("Property Address"): [Zip Code] which currently has the address of 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, if necessary 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. WAN NUMBER: 7550285 Initials: ~ ~ - - Nebraska Deed of Trust-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT MERS Modified Fonn 3028 01/01 -THE COMPLIANCE SOURCE, 1Nc.- Page 3 003 14301NE 08/00 www.complianccsourcecom 1IIIml~I~~II~mmIIIIDllml 02000, TO. Compliance Source, Inc.