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200608706 (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 US.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, "RESP A" 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 This 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, conveys and warrants to Trustee, in trust, with power of sale, the following described property located in the Hall County, State ofNE. PART OF LOTS TWO HUNDRED SIXTY-FIVE (265) AND TWO HUNDRED SIXTY-FOUR (264) IN WEST LAWN ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE WEST LINE OF SAID LOT 265, WHICH POINT 103.5 FEET NORTH OF THE SOUTHWEST CORNER OF LOT 266 IN SAID ADDITION; THENCE RUNNING NORTH ALONG AND UPON THE WEST LINE OF SAID LOTS 265 AND 264, A DISTANCE OF 56.96 FEET; THENCE TURNING AND RUNNING EAST PARALLEL WITH THE SOUTH LINE OF SAID LOT 265, A DISTANCE OF 132.0 FEET TO A POINT ON THE EAST LINE OF SAID LOT 264; THENCE TURNING AND RUNNING SOUTH TO A POINT o THE EAST LINE OF SAID LOT 264; THENCE TURNING AND RUNNING SOUTH ALONG AND UPON THE EAST LINE OF SAID LOTS 264 AND 265, A DISTANCE OF 56.1 FEET; THENCE TURNING AND RUNNING WEST PARALLEL WITH THE SOUTH LINE OF SAID LOT 265 A DISTANCE OF 132.0 FEET TO THE POINT OF BEGINNING. Which currently has the address of 1312 North Huston Avenue Grand Island, NE 68803 TOGETHER WITH all the improvements now or hereafter erected on the property, and all casements, appurtenances, and fixtures now or hereafter a part of the 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." CHAR1\764238_ 1