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200710284 TRANSFER OF RIGHTS IN THE PROPERTY "lne beneliciaty of this Security In!>irument is MERS (solely as nominee for Lender and Lender's successors ~md assigns) and the successors and assigns of MERS. 111is Sccurity Instrument seelU'CS to Lender: (i) the repaymt-11t of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Bon-ower'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 One (I), Morningside Acres Third Subdivision, in the City of Grand Island, Hall County, Nebraska. which currently has the address of 1703 Columbia Circle [Street] Nebraska 68801 f Zip Code] Grand Island, [City] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and f1xtures now or hereafter a part or 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 "Propcrty." Borrower understands and agrees that MERS holds only legal title to tbe 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 cxercise 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 limitcd to, releasing and canceling this Sccurity Instrumcnt. BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convcy the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subjcct to any encumbrances of record. TI-IIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covcnants with limitcd 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, aud Late Charges. Borrowcr shall pay when duc the principal of~ and interest on, the debt cvideneed by the Note and any prepayment charges and late charges due under the Note. Borrower 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 returncd to Lendcr 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 foom, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, 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 arc 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 aeeordm1ee 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 )]l.ay accept -Nch;:-~skai)ce(l-ol:Tr;;;t:S;;;-gk F;;;;lily" F:;-~,~ic MlIc/F;:;'ddic M~c UNIFORM INSTll:iIMEN'f---------------MER:~-M(;dfffe;rFor~1130iil 01/61 - THE COMl'LIANCE SOURCE, IN(:.- PlIge 3 of t:3 14JOINE Oll/OO www.c()mp]jal\L;eS{)l.lrce.c~}Jn (j:;l200(L The COlllplii:lm.:e S()\lr~:e, Tll{,:, 577RR96 Cjri\ ~ ~