201105655 - Laserfiche WebLink

Browse

20�105�5� (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 any additional or successor le�islation 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 partyhas assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN T'HE PROPERTY The beneficiary ofthis Security Instrument is MERS (solely as nominee for Lender and Lender's successors and assigns) and the successors and assigns of MERS. T'his Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, e�ctensions and modifications ofthe Note; and (ii) the performance ofBorrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocablygrants and conveys to Trustee, in trust, with power of sale, the following described properly located in the County of Hall [Type ofRecording Jurisdiction] [Name of Recording Jurisdiction] Lot Sixteen (16) Rainbow Lake Second Subdivision, Hall County, Nebraska which currently has the address of 1512 Rainbow Rd [Street] Grand Island , Nebraska 68801 ("Property Address"): [City] [Zip Code] TOGETI�R 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 refened to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted byBorrower in this SecurityInsUrument, but, ifnecessaryto complywith law or custom, MERS (as nominee for Lender and Lender's successors and ass�gns) 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 talce any action required of Lender including, but not limited to, releasing and canceling this Security Instxument. BORROWER COVENANTS that Borrower is lawfully seised ofthe estate hereby conveyed and has the right to gant and convey the Properiy 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 and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT 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. Bonower 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 o� 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 for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, ifany check or other uistrument received byLender 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 ofthe following forms, as selected by Lender: (a) cash; (b) money order; (c) c�rtified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon a.n inst�tution 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 or 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 parhal payment ifthe payment or partial payments are insufficient to bring the Loan current. Lender mayaccept NEBRASKA—Single Family—Fannie Mae/Freddie Mac IJNIFORM INSTRUMENT (MERS) 12439.CV (11/07) 4300102395 `.�� Form 3028 1/Ol (page 2 of 8 pages) Creative Thinking, Inc. �S GOTO(00306110)