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201004940 (O) 'Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (IZ U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Snccessar 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 This Security Instrument secures to Lender: (i) the repayment of the 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] Lat Number One (1) and Fractionai Lot Number Two (2) in Black Number One Hu~adred and Twenty Four (124) of Koenig & Wiebe's Addition to the City of Grand Island, Hall County, Nebraska; else a part of Lot Number Sixteen (16) of the County Subdivision of the Southeast Quarter (SEl/4) of the Southwest Quarter (SWl/4) of Section Number Sixteen (16), in Township Number Eleven (11) North of Range Nine (9) West described as follows: Commencing at the Westerly End of the northerly line of said Fractional Lot Two (2), in Block One Hundred Twenty Four (124) of Koenig & Wiebe's Addition to Grand Island, running thence westerly on a straight line, which is a prolongation (without change of coarse) of said northerly line of said Fractional Lat Twa (2) far a distance of Fifty Fvur (54) feet, thence turning a right angle and running southerly and parallel with the easterly line of said Fractional Lot Two (2) to the northerly end of the litre between said Fractional Let Two (2) and Fractional Lot Three (3) of said Block One Hundred Twenty Four {124) and running thence north on the line between said Lot Sixteen and said Fractional Lot Two (2) to the place of beginning Parcel ID Number: 400056902 which currently has the address of 206 S LINCOLN AVE [Street] GRAND ISLAND (City], Nebraska 68801.-6975 [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of 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 "Property." 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 unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Properly against all claims and demands, subject to any encumbrances of record. 230805 NEBRASKA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT -6(NE) (oat ~) Page 3 of 15 in~~~ai . ~ Form 3028 1/01 Q9