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200702912 DOC ID #: 00016552167503007 SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF- ParcellDNumber: 123 which currently has the address of 1823 N LAFAYETTE AVE, GRAND ISLAND [Stn:eIlCity} Nebraska 68803 -2653 ("Property Address"): [Zip Code} 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 Imtmment as the "Property" Borrower understands and agrees that MERS holds only legal title to the interest granted by Borrower in this Security Inslnunent, bIll, if necessary to comply with law or custom, MERS (as nominee for Lender snd tender's SUllOOSSOflj and assigns) has the right: to exercise any or all of those interellla, ill<)luding, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender incl uding, but not limited 10, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised oftlte estate hereby conveyed and has tit<; right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of rccord. Borrower Wllrrants and will defend genernlly the title to the Property against all claims wld demands, subject to auy encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for uational use and non-mliform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property . UNIFORM COVENANTS. Borrower and Lender covenant and agree as lollows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Ch8J11l"S, and Late Charges. Borrower shall pay when due the principal ot: and interest on, the debt evidenced by the Note and any prepayment charges and late charges due 1Uld....r the Note. Borrower shall also pay fiJnds lor Escrow Items purswntto Section 3. Paymeuts due Wlder the Note and this Security Instrwnent shaIl be made in U.S, currency. However, if any check or other inslrwnent received by Lender 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 Instrmnent be made in One or more of the followiug fonllS, as selected by Lender: (a) cash; (b) money order, (e) certitied check, bank check, treasurer's check or cashier's eheck., provided any such check is drawn upon an institution whose deposits are insured by a t:ederaJ agency, instmmentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other loo;ation as may Ix: designated by Lender in accordance with the notice provisiolls in Section 15, Lcnder may return any payment or partial payment if the payment or partial payments are insufficient to briug the Loan curreut Lender lnay accept any payment or partial payment insufficient to bring the l.owl 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 payntents at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due dale, then Lender need not pay interest On unapplied funds. Lender may hold sllCh unapplied foods until Borrower makes payments to bring the Loan current. If Borrower does not do 80 within a reasonable period of time, Lender shall either apply such fund. or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. NO offset or claim which Borrower might have now or in the future against Lender .hall relieve Borrower from making paymentr; due under the Nate and this Se<.>urity Inlllmment or perfonning the covenants and agreements secured by litis Security Instrument 2. Application of Payments or Proceeds, Except as otherwise described in wis Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the NOte; (c) amounts due Imder Section 3. Such payments shall be applied to each Periodic Payment in the order in which it ""-me due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Nate. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sullicient amount to pay any late charge due. We payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from flit, "A(NE) (0407) CHI.. (0BI05) P'1103 01 11 Form 3028 1/01