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<br />200808980
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<br />(N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other
<br />than insurance proceeds paid under the coverages described in Section 5) for: (I) damage to, or destruction of, the Property;
<br />(ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or
<br />(iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(P) "Periodic Payment" means the regularly scheduled amount due for (I) principal and interest under the Note, plus (ii) any
<br />amounts under Section 3 of this Security Instrument.
<br />(Q) "RESPA" means the Real Estate Settlement Procedures Act (12 V.S.C. g2601 et seq.) and its implementing regulation,
<br />Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or
<br />regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and
<br />restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualifY as a "federally related
<br />mortgage loan" under RESP A.
<br />(R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has
<br />assumed Borrower's obligations under the Note and/or this Security Instrument.
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<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />The beneficiary of this Security Instrument is MERS (solely a<; nominee for Lender and Lender's successors and assigns) and the
<br />successors and assigns ofMERS. This Security Instrument secures to Lender: (I) the repayment of the Loan, and all renewals,
<br />extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security
<br />Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the
<br />following described property located in the County of HALL:
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<br />See Exhibit" A" attached hereto and made a part hereof for all purposes (Property Identification Number:
<br />400120984)
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<br />which currently has the address of 514 WEST 10TH ST, GRAND ISLAND, NE 68801 ("Property Address"):
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<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
<br />fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument.
<br />All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds
<br />only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom,
<br />MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including,
<br />but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited
<br />to, releasing and canceling this Security Instrument.
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<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and
<br />convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend
<br />generally the title to the Property against all claims and demands, subject to any encumbrances of record.
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<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited
<br />variations by jurisdiction to constitute a uniform security instrument covering real property.
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due
<br />the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note.
<br />Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument
<br />shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this
<br />Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and
<br />this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order;
<br />(c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose
<br />deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other location
<br />as may be designated by Lender in accordance with the notice provisions in Section 1 5. Lender may return any payment or partial
<br />payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial
<br />payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such
<br />payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are
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<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Form 3028 1/01 (Page 2 of 10 Pages)
<br />(R&A) RA0224478 - siemers.ne - Rev. 11114/2005
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