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201005422 (P) '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. (Q) "RESPA" means the Real I/state Settlement Procedures Act (12 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. (R) "Successor 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 TIIE PROPERTY The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's successors and assigns) and 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 perfortnance of Borrower's covenants and agreements under this Security Instrutent 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 Ball [Type of Recording jurisdiction] [Name of Recording Jurisdiction] LOT FIFTEEN (15) AND THE SOUTH EIGHT F$ET (S8') OF LOT THIRTEEN (13) IN BLOCK EIGHTEEN (18) IN UNIVERSITY PLACE AN ADDITION TO THE CITY OF GRAND ISLAND srnr.L COUNTY N$BRASKA. Parcel ID Number: 400101157 which currently has the address of 2606 W WAVGH ST [Street] Grand Island [city], Nebraska 68803 [Zip code] ("Property Address"): TOGETHER WITH all the improvements naw ar hereafter erected on the property, and all easements, appurtenances, and ftxtures 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 understands and agrees that MERS holds only legal title to the interest granted by Borrower in this Security Instnunent, but, if necessary to comply with law or custom, MERS (as nominee far Lender and Lender's successors and assigns) has 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 bender including, but not litnited to, releasing and canceling this Security Instrument. 8800847755 8800847755 NEBRASKA -Single Family -Fannie Mae/Freddle Mac UNIFORM INSTRUMENT WITH ~-BA(NE) (0810) Page 3 of 15 iniuais: Form 3028 7 /01