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200108825 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 quality as a "federally related mortgage loan" under RESPA. (Q) "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 THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the perfornance of Borrower'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 properly located in the County of Hall [Type of Recording Jurisdiction] Lot One (1), Ummel Subdivision, Hall County, Nebraska. Which Currently has the address of 515 S Shady Bend Rd Grand Island . Nebraska 688111 [chty I flip Code [Name of Recording Jurisdiction] [ Street] ("Property Address ") TOGETHER WITI1 all the improvements now or licrealler erected on the property, and all easements, appurtenances, and fixtures now or hereafter a hart of the property. All rcplacennents and additions shall also be covered by this Security Instrument. All of the foregoing is refCrred to in this Security InsUlunent as the "Property." BORROWER COVENANTS that Rol-mVer is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is urnenctimbered, except tier encumbrances of record. Borower warrants and will defend generally the title to the Property against all claims and demands, subject to anv encumbrances of record. THIS SECI_IRITY INSTRI IMEN'I' combines unilirnn covenants for national use acid 11011- unitcnun covenants with limited variations by jurisdiction to constitute a unifYais security instrument covering real property. I JNIFORM COVENANTS. Bor-owcr and Lender covenant and agree as t*)Ilows: 1. Payment of Principal, Interest, Escrow Items, Prepavment Charges, and Late Charges. Bonuwer shall pay when due the principal of, and interest on, the dcht evidenced by the Note and anv prepayment charges and late charges due under the Note. Borrower shall also pa)^ Burls Io)r I ,scrovv� Ileums pursuant to Section 3. Pavmcnts due under the Note and this Security InStRiIDClIt shall be made in t 1. S. currcncv. However. if anv check or other insti-unncnt rCCeived by Lender as payment under the Note or this SeCUI'ltV Instrunncnt is returned to Lender unpaid, Lender may require that a111v or all subsequent payments due under the Note and this Security Instrument be made in one or more ot, tile fr)llowing tones, as selected by Lender: (a) cash; (b) nnoney order; (c) certified check, bank check, treasurer's check or cashiers check, provided any such check is drawn upon a11 institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when rcccived 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 partial payment if the payment or partial payments arc insufficient to bring the Loan current. LCYRIer may accept any payment or partial payment insttlricient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to rehrse such payment or partial payments in the future, but Lender is not obligated to apply such paynnrauts at the tune such payments are accepted. If each Periodic Payment is applied as o1 its scheduled due dale, then Lender need not pay interest on unapplied fends. Lender rum hold such unapplicd funds until I iorrowcr makes payment to bring the Loan CUITC111. If Borrower does not do so within a reasonable period of time. Lender shall either apply suclh funds or return them to Borrower. If not applied earlier, such tiunds will he applied to the outstanding principal balance: under the Note immediately prior to foreclosurC. No offset or claim which liorro\yer might have now or in the future against Lender shall relieve Borrower fi-om making payments due under the Note and this Security I11str'unnent or performing the covenants and agreements secured by ill Security hhstrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the fallowing order of priority: (a) interest due under the Note; (h) principal due under the Note; (c) annotults c uC under SCctiunn 3. Such payments shall be applied to each Periodic Payment un the order in which it because due. Anv remaining amounts shall be applied first to late charges, second to any other amounts due under this Security 1nSlrnmelht, and then to reducC the principal balance of the Note. NEBRASKA -- Single FaimIN'- -Fannie Mac /Freddie Mac UNIFORM INSTRI@IENI' Furm 3028 1 /01 (page ' o1 N/)ayes) Q7S4 (W (3ioI ) <lll"ux (iO "I'()(OW27_3 6 S)