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200301622
<br />or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements
<br />and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a
<br />"falcmlly related mortgage loan" under RESPA.
<br />(Q) `Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that partyhas
<br />assumed Borrower's obligations under the Note and /or this Security Instrument.
<br />TRANSFER OF RIGI I'IS IN THE PROPERTY
<br />This Security Instrument secures to Lender (i) the repayment ofthe Lcam, and all renewals, extensions and modifications of
<br />the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note.
<br />For this purpose, Borrower irrevocably grards and conveys to Trustee, intrust, with power of sale, the following described
<br />property located in the County _ of Hall _
<br />[Type of Recording Jurisdiction] [Name of Recording Jurisdiction]
<br />Lot Five (5), in Capital Heights Sixth Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />which currently has the address of4207'1'exas Are.
<br />[Street]
<br />Grand Island , Nebraska 68803 ( "Property Address")!
<br />[City] [Zip Code]
<br />TOG E'I'1 ILR WITH all [tic improvements now or hereafter erected nn the property, Laid all easements,
<br />appurtenances, and fixtures now or hereafter a Part ofthe property. All replacements and additions shall also he covered by
<br />this Security Instrument_ All ofthe foregoing Is referred to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seized ofthe estate hereby conveyed and has the rightto
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to anyencumbrances of
<br />record.
<br />THIS SECURITY INSTRU MEN I combines uniform covenants for national use and non - uniform covenants with
<br />limited variations byjurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall
<br />pay when due the principal of, and interest on, the debt evidenced bythe Note and any prepayment charges and late charges
<br />due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note
<br />and this Security Instrument shall be made in U.S. currency. However,itanv check or ther instrument received by Lender
<br />as payment kinder the Note or this Security , Instrument is returned to Lender unpaid, lender mayy, require that any or all
<br />subsequent payments due under the Note, and this Security Instrument be made in one or more ol'the following forms, as
<br />selected by Iender: (a) cash; (b) money order, Let certified check, bank check, treasurer's check or cashier's check,
<br />provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or
<br />entity; or (d) Electronic Funds Transfer.
<br />Papnents are deemed received by lender when received at the location designated in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any
<br />payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. lender mayaccept
<br />any payment or partial payment insufficient to bring the Loan current, without waiver ofany rights hereunder or prejudice to
<br />its rights to refuse such payment or ppartial payments in the future, but Lender is not obligated to apply such payments at the
<br />time such payments are accepted. Ifeach Periodic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current.
<br />If Borrower does not do ski within a reasonable period of time, Iender shall either apply such funds or return them to
<br />Harrower. Knot ap p lied ear tier, such fiends wi ll be app l ied to the outstanding principal bal once under the Now innnediately
<br />prior to foreclosure No offset or claim which Borrower might have now or in the future against lender shall relieve
<br />Borrower from ,raking payments due under the Note and this Security Instrument or performing the covenards and
<br />agreements secured by this Security Instrument,
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
<br />(b) nncipal due under the Note ;(c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment
<br />in the order in which it became duc. Any remaining amounts shall be applied first to late charges, second to any other
<br />amounts due under this Security Instrument, and then to reduce the principal balance ofthe Note.
<br />NEBRASKA single family -- Fannie Mar /Freddie Mac (IN] FORM INSTRU MEN 'F Fnrm3028 INI (page: of dpnges)
<br />9754,CV(1/02) 11,30115
<br />WTO1111111411,1AI
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