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#- '- . ' ! 200503351 200509521 1RANSFER OF RIGHTS IN THE PROPERTY The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's successors l\IId assigns) l\IId the: successors and assigns of MERS. This Security Instrumc:nt secures to Lender: (i) the repayment of ,the Loan. and all renewals, extension, and modifications or tile Noltl; l\IId (ii) the performance of BorroWCf" covenants and aiflll'ments un4c:r this Security Instrumentl\lld the Note. For this purpose, Borrower irrevocably &J3IIls and conveys to Trustee, in trust, with power of sale, the following described property located in the County of [Type of Rccontilll fllrisdlctlonl Hall [Nam. of llownlins 1urisdictionl ~ The East Sixteen Feet (E 16') of Lot Seven (7), and all of Fractional Lot Eight (8) in Block Seven (7) of Arnold Place in the City ,of Grand Island and Fractional Lot Eight (8) in Blook One Hundred Twenty-three (123), of Koenig & Wiebe's Addition to the City of Grand Island, Hall County, Nebraska. wbicb currently has the address of 1104 W. DM.lon Stl'Ht 15_] Grand Island [Cityl , Nebraska 68801 (Zip Code] ("Property Address"): TOGETHER WITH all the lmpnlvements now or hereafter erected on the property, and all easements, appurtenan<:es, and fixtures now or hereafter a part of the property. All .eplacements and additions shall also be coveted by this Security InsttumCllt. All of the foregoing is referred to in this Security Instrumc:nt as thll "Property." Borrower understands and agrees that MERS hoids only legal title to the interests granted by BOlTOwer in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender.s successors and asBigns) bas the right; to exercise: 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 limited to, releasing and canceling this Security Instrument BORROWER COVENANTS thal: Borrower is lawfully seised of the estate hereby conveyed and has the right to grant IlIId convey the Property and that the Property is uncncumbered, except for encumbrances or record. Borrower wammts and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of recont. THIS SECURITY 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. BOlIOwer and Lender covenant and agree as follows: 1. Payment 01 Princlpal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late chargell due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments dUll under the Note and this Security instrUment shall be made in U.S. currency. However, if any check or other lnsttument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all Bubscquent payments due under the Note and this Security Iustrument be made in one or more of the foliowing fOllllS, as selected by Lender: (a) cash: (b) money ..otder, (c) eertltled check. bank check, tteasUl'lll"S check or eashier's check, provided any such checlr. is drawn upon an inBtitution whose deposits are insured by a federal agency, iIL1lrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed ..::ceived by Lender when received at lite location designattsd in the Note or al: such other location as may be designaltld by Lender in accordance with the notice provisiOllll in Section IS. Lender may return any payment or partial ITIM ~ (03lIIl-IIIlII (Pap J of JZ pag..) Form 301lIII1Il GR!A1UI<O . ro_t:JI:l___C .....'.......113' Nl!:IIKASXA-5in.," fmnlly-Fultlh MaofI'raIdIo Mae UNIFORM lN5TKtJMENT