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20110303� xiiiosao4s renewals, extensions and modificatioms of the Note; and (u) the performance of Borrower's covenants and agreements under this Security Instrument and tlie Note. For tlus purpose, Bonower irrevocably grants and conveys to Trustee, in trust, wit]i power of sale, the following described property located in the COUNTY (Type of Recording Jurisdiction) of $ALL (Name of Recording Jurisdiction) LOT FIFTY-SI8 (56), IN COPPER CREER LSTAT88 SUBDIVISION IN TH� CITY OF C3RANll ISLAND, unr•L COIINTY, NEBRASRA. which currently has the address of 221 BIIFFALO GRASS STREET, GRAND ISI,AND, NS 68803 (" 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 propexty. All replacements and additians shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Bonower understands and agrees that MERS hold only legal ritle to the interests granted by Borrower in this Security Instxument, but, if necessary to comply witli law oz custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not li.mited 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 Instrumen� � BORROWER COVENAIdTS 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 unencttmbered, except £ox encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenanxs with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as £ollows: 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 chazges due under the Note. Bonower sha11 also pay funds for Escrow Items pursuant to Section 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 Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or 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 degosits are insured by a federal agency, instrwnentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note oz at such other location as may be designated by Lender in accozdance with the nati.ce provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loau current. Lender may accept any payment or partial payment insufficient to bring the Loan curren#, without waiver of any rights hereunder or pzejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time snch payments are accepted if ea.ch Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied fimds until Borrower makes payment to bring the Loan curren� If Borrower does not do so within a reasonable period af time, Lender shall either apply such funds or return them to Bonower. If not 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 future against Lender sha11 relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Insirument. � 2. A�plication of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments sha11 be applied to each Periodic Payment in the order in which it became due. Any remaining amounts sha11 be applied first to late charges, second to any other amounts due under this Security NEBI2A,SKA—Single Family—Fannie Ma�lFreddie Mac i1NIFORM TNSTRUMENT Modified for VA . • � 338.2 Page 3 of 12 � Form 30281/OI