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200301949 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. (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. FRANSFER OF RIGHTS IN THE PROPERTY This Securitylnstmmentsecuresto Lender (i) the repayment ofthe 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, intrust, with power of sale, the following described property located in the County of Hall [Type of Recording Jurisdiction] [Name of Recording .Jurisdiction] Lot One (1), Hann's Fifth Subdivision in the City of Grand Island, Hall County, Nebraska. which currently has the address of l 10 W Koenig _ [Street] Grand Island _ Nebraska 68801 ( "Property Address "): [City] [Zip Code] TOGETHER 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 ofthe 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 convoy 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. THIS SECURITY fNSTRUMENT combines uniform covenants for national use and nun - uniform covenants with limited variations byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant mid agree as follows: 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 Non, 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. I Ioweveq Ifany cheek 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 decmed 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 die notice provisions in Section 15. Lender may return any payment or partial payment ifdne payment or partial payments are insulficientto bring the Lomn current. Undermayaccept any payment or partial payment insufficient to bring the Loan current, without waiver ofany rights hereunder or prejudice to its rights to refilse such payment or partial payments in the future, but lender is not obl igated to apply such payments at the time such payments are accepted. l each Periodic Payment is applied as urns scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied finds until Borrower makes payinento bruig the Loan current. If Borrower ddoes not do so within a reasonable period of time, Lender shall either apply such finds or return them to Borrower. Ifnot applied earlier, such funds will be applied to the outstanding principal balance under die Note immediately prior to ftaeclosure. No offset or claim which Borrower mi fit have now or in the future aggainst Lender shall relieve Borrower from making payments due under the Note and t is 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 priority : (a) interest due under the Note; (b) principal due under theNotc; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became 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 ofthe Note. NEBRASKA- Sin81c1'vmily- Fanniehla0FrMdk Nat UNIFORM INSTRUMENT Form3038 I /01 (page2of8pnyes) 41541 v(1 02) 1655307 GOTONn042n1t4)