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201009351 other taking nf all or any part ofthe Praperty; (iii) conveyance in lieu af condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (0) "Mortgage Insurance" rneans insurance protecting Lender against the nonpayment of, or default on, the Loan. (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 [nstrument. (Q) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seg.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from tirne ta time, ar 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 re�ard to a "federally related mortgage loan" even iFthe Loan does not qualify as a"federally related mort�age loan" under R�SPA. (R) "Successor in Interest of Iiorrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under lhe Note and/or this 5ecurity Instrument. 7RANSFER OF RiGHT51N T�TC PROPERTY The beneficiary of this Securiry Instrument is M�RS (solely as nominee for Lender and Lender's successors and assigns) and to thc successors and assi�ns ofMERS. This Security Instrument secures to Lender: (i) the repayment ofthe Loan, and all renewals, excensions and modifications nf the Nate; and (ii) the performance of 13orrower'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 Ilall: Lat Fourteen (l4), Block E, Park View Subdivision, in the City of Grand Island, Hall County, Nehr�ska. Parcel identification Number: 400076721 which currently �ias the address of 2517 Pioneer Blvd Grand Island, N�BRASKA bt3�3D1 ("Property Address"): TOGETHER WITFI alt 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 Securiry Instrument. All of the foregoing is referred to in this Security Instrument as thc "Property." $orrower understa►tds and agrees that MER5 holds only legal title lo thc interests granted by .Borrower in this Security Instnrment, but, if necessary to comply with law �r custom, MERS (as nominee for Lender and Lendet's successors and assigns) has the right: to exercise any or all of fhose interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required ofLender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seized ofthe estate hereby conveyed and has the right to grant and cnnvey the Property and that the Property is unencurnbered, except for encumbrances of record. Rorrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encurnbrances of record. T7-IIS S�CURITY INSTRUMFNT combines unifarm covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real properly. LTNiFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Princip�l, interest, Escrow Items, Prepayroent Charges, and Late Charges. Borrower shall pay when due the principal of, and interest an, the debt evidenced by the Note and any prepayment char�es and late charges due under the Nota. Bor-rower shall alsa pay funds for Escrow Items pursuant to Sectian 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by i.ender as payment under the Note or this Security Instrument is returned to Lender unpaid, i..ender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or mnre of the following forms, as selected by Lender: (a) cash; (b) rnoney 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 a�ency, ittstrumentality, or entity; or (d) Electronic Punds Transfe'r. Payments are deemed received by Lender when received at the location designated in the Note or at such ather location as may be designated by Lendcr in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment ar partial payments are insufficient to bring the L,oan current. Lender may accept any payment or parcial payment insu�cient to bring the T�oan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payrnents in the future, but Lender is not obli�;ated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. if Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrnwer. If nnt applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the fiiture against L,ender shall relieve $orrower from making payments due under the Note and this Security instrument or performing the covenants and agreements secured by this Security Tnstrument. 2. Application of Payments or Proeeeds. Except as otherwise described in this Section 2, all payments accepted atid applied by Lender shall be applied in the follnwing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it becamc due. Any remaining amounts shall be applied first to late char�es, second to any nther amounts due under this Security Instrument, and then to reduce the principal balance of the Note. if Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charbe due, the payment may be applied ta the delinquent payment and the late charge. Tf more than one Periodic Payment is outstanding, Lender may apply any payment received fmm Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may he applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as descrihed in the Note. Any application of payments, insurance proceeds, or Miscellaneaus Proceeds to principal due under the Note shall not extend or postporte the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay ta Lender nn the day Periodic Payments are due under the Nate, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and ather iterns whicli can attain priority over this 5ecurity instrument as a lien or encumbrance on the Property; (6) leasehold payments or ground rents on the Property, if NEBRASKA -Single Family-Fannia Mae/Freddle Mac UNIFORM INSTRUMENT with MERS Fortn 3028 1/D7 Page 2 of 8 ios, mc. Borrower(s) Initials