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<br />'"
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<br />200902967
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<br />450906742
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<br />the successors and assigns of MERS. This Security Instrument secures to Lender: (i) the repayment of the Loan, and all
<br />renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under
<br />this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with
<br />power of sale, the following described property located in the COUNTY (Type of Recording Jurisdiction) of HALL (Name of
<br />Recording Jurisdiction)
<br />LOT TWELVE (12), BLOCK THREE (3), BEL AIR ADDITION TO THE CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA .
<br />which currently has the address of2509 LAMAR AVE, GRAND ISLAND, NE 68803 ("Property Address").
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<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,
<br />and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security
<br />Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees
<br />that MERS hold only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply
<br />with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of
<br />those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of
<br />Lender including, but not limited 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
<br />and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and
<br />will defend 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
<br />limited 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:
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<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay
<br />when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due
<br />under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this
<br />Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment
<br />under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent
<br />payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by
<br />Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such
<br />check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic
<br />Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any
<br />payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept
<br />any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to
<br />its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the
<br />time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If
<br />Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If
<br />not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to
<br />foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from
<br />making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this
<br />Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and
<br />applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the
<br />Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it
<br />became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security
<br />Instrument, and then to reduce the principal balance of the Note.
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<br />NEBRASKA--Single Family--Fannie MaeIFreddie Mac UNIFORM INSTRUMENT
<br />Modified for VA
<br />6> 338.2 Page 3 of 12
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<br />Form 30281/01
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<br />:pt'5
<br />oV
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