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~oioo537s (Q) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §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 an~ 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. (R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether ar not that partyhas assumed Borrower's obligations under the Nate acid or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY The beneficiary ofthis Security Instrument is MERS (solely as nominee for Lender and Lender's successors acid assigns) slid the successors and assigns of MERS. 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. F'or this purpose, Borrower irrevocably grants and conveys to Tnastee, in trust, with power of sale, the fallowing described property located in the County of Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] The Northerly Seventy-eight (~ feet of the Ettsterly One Hundred Six'(166) feet of the Northerly One-half (N 1/2) of Block Twelve (12) in Windolph's Addition to the City of Grand Island, Hall County, Nebraska which currently has the address of 604 South Adams Street [Street] Grand island ,Nebraska 68801 ("Prgperty Address"): [City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part ofthe 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 understands and agrees that MFRS holds only legal title to the interests granted byBorrower in this SecurityInstnunent, but, if necessary to comply with law or custom, MERS (as nominee far Lender attd Lender's successors and assigns) has the right: to exercise any ar 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 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 Property against all claims aild demands, subject to any encumbrances of record. THIS SECURITY IN STRUMENT 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. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, 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 charges due under the Note. Borrower shall also pay funds, foc Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shat l be made in U. S. currency. However, if any check ar other instrument received by Lender as payment under the Nate or this Security Instrument is returned to Lender unpaid, Lender may require that any ar all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, 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 are deemed received by Lender when received at the location designated in the Note ar at such other location as may be designated by lender in accordance 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 mayaccept NEBRASKA-Single Family-Fannie Mse/Freddie Mac UNIFpRM INSTRUMENT (MERS) Form 3028 1/O1 (yage 2 of8~agesJ 12439.CV (11/07) 03-1106 Creative Thinking, Inc. G4T0(OO 1 ib068)