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200705006 (Q) "RES P A" means the Real Estate Settl em~nt Procedures Act ( 12. U . S. CJ 2601 et seq.) ~~d its implementing reg.ulati~:m, Regulation X (24 C.F.R. Part 3500), as they mIght be amended from time to tIme, or any addItIOnal or successor le~lslatlOn or regulation that governs the same subject matter. As used in this Security Instrument, "R~.SPA" refers to all reqUlr.ements and restrictions that are imposed in regard to a "federally related mortgagc loan" even If the Loan does not qualrfY 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 bcncficiary ofthis 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 ofthe 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 Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot Twenty-Four (24), Eaglewood Acres Subdivision, Hall County, Nebraska which currently has the address of624 Swan Lane [City] , Nebraska ~8801 [Zip Code] [S treet] ("Property Address"); Grand Island 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 lcgal title to the interests granted by Borrower in this Security Instrument, but, ifnecessary 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 ofthosc 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. 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 unencumbcred, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECU RITY INSTRUMENT combines uniform covenants for national use 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: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt cvidenced by the Note and any prepayment charges and late charges due under the Note. Borrowcr shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument 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 Instrument be made in one or more ofthe following forms, as selected by Lender: (a) cash; (b) money order; (c) certificd check, bank chcck, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, 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 location as may be designated by Lender in accordance with the notice provisions in Section 15. Lendcr may return any payment or partial payment ifthe payment or partial payments are insufficient to bring the Loan current. Lender mayacccpt NEBRASKA--Single Family--Fannie MaelFreddie Mac UNIFORM INSTRlIMENT 124J9.CV (1/05) 901186 (MERS) Form 3028 1/01 (page 2 oj'8 pages) Creative Thinking, Inc. GOTO(0005b6e4) ~