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200300484 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 Iran" even if IAmn dues not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any parry 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 7'1 IE 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 performance 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 ofsale, the following described property located in the County of Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot Four (4), Block Two (2), in Capital heights Third Subdivision, in the City of Grand Island, Hall County, Nebraska. which currently has the address of 4246 Vermont _.. [Street] Grand Island ,Nebraska 68803 ( "Property Address'): [City] [7ip Code] TOGETHER WILL] all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hercaRcr a part ofthe properly. 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 COVENANTS that Borrower is lawfully seized ofthe estate hereby conveyed and has the right to grant and convey the Property 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. 'I HIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform coverecuseeith limited variations byjui isdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principa[,Interest, Escrow Items, Prepayment Charges, and late Charges. Borrowershall pay when due the principal of, mid interest on, die debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay finds 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 ofthe 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 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 partial payment if the payment or partial payments are insufficient to bring the Loan current. lendermayuccept any Payment or partial payment insufticient to bring the Loan eturent, without waiver ofany rights hereunder or prejudice to its nghts to re fi' such payment or partial payments in the future, but LA:ndcr is nut ubligeted to apply such paymmnls et the time such payments me accepted. Ifeach Periodic Payment is applied as ofirs scheduled due date, then Lender need notpay interest on unapplied fi"Lik I ender may hold such unapplied funds until Burrower makes peynentto bring thetarot current. If Borrower ddties not d o se within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. Ifnot applied earlier, such funds will he applied to the outstanding principal balance under theNote irmnedialdy prior to torcelosure. No offset or claim which Borrower might have now or in the firture a ainst Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 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 following order of priory- (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such, sh L I be applied to each Periodic Payment in the order in which it become due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. NEdRAJKA— Single Femlly— Formic NOe /Freddie Mar UNIFORM INSTRUM ENT Form3028 1 /01 Ipa,v2oJdpag 9]54CV(1 /OL 1618089 GOTO(0003d195)