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200609763 DOC ID #: 00015109110710006 See Attached Schedule A Parcel ID Number: 400079267 which currently has thc addrcss of 909 E OKLAHOMA AVE, GRAND ISLAND [Street/City] Ncbraska 68801-8145 ("Property Address"): [Zip CodeJ 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 replacemcnts and additions shall also bc covcred 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 thc interest 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 thc right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to takc any action required of Lender including, but not limited to, releasing and canccling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully scised ofthc cstatc hercby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except f()r encumbrances of rccord. Borrower warrants and will defend generally thc title to thc Property against all claims and demands, subject to any encumbrances ofrceord. THIS SECURITY INSTRUMENT combines uniform covcnants for national usc and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: I. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, thc debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Itcms pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. Howevcr, 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 under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money ordcr; (c) certified check, bank check, treasurer's check or cashier's check, providcd any such check is drawn upon an institution whose dcposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Paymcnts are deemed received by Lender when receivcd at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments arc accepted. If cach Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to thc outstanding principal balance undcr the Note immediately prior to foreclosure. No ofIsct or claim which Borrower might have now or in the future against Lendcr shall relieve Borrower from making paymcnts duc under thc Notc and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments acceptcd and applied by Lender shall be applied in thc following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became duc. Any remaining amounts shall be applied first to late chargcs, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender rcceives a payment from Borrower for a delinquent Periodic Payment which includcs a sufficicnt amount to pay any late charge due, the paymcnt may be applied to the delinquent payment and the late charge. Ifmore than one Periodic Payment is outstanding, Lender may apply any payment received from . -6A(NE) (0407) $ CHL (08/05) Page 3 of 11 Form 3028 1/01