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200302196 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 Iinterest of Borrower" means any party that has taken title to the Property, whether or not that party has assured Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security lnstrumentse cures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (it) 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 of sale, the following described property located in the County of Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot One (1), Katzberg Subdivision, in (tall County, Nebraska. which currently has the address of 4280 W. W ildwood Dr [Street] Grand Island , Nebraska 68803 ( "Property Address "T [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 Inshmnent as the `Property." BORROWER COVENANTS that Borrower is lawfully seized ofthc 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. THIS SECU RITY IN S RI JMENT combines uniform covenans for national use and non - uniform covenant, with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: L Paymentof Principal, Interest, Ear row Items, Prepayment Charges, and Late Charges. Borrowershall pay when due the principal of, 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, d any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender ma require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more afthe fullowing 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, inshmnentality, 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 ifthe payment or partial payments are insufficient to bring the Loan current. Lmdermayincept any Payment or partial payment insufficient to bring the loan current, without waiver ofmry rights hereunder or prejudice to its rights [o refuse such payment or partial payrents in the fuure, but Lender is not obligated to apply such payments at the time such payment, are accepted Ifeach Periodic Payment Is applied as of its scheduled due date, then Lender need not pay interest on unapplied fiords. Lender may hold such mrapplied funds until Borrower makes payment to bring die Loan current. If Borrower does not do so within a rensanable period of time, I ender shall either apply such funds or return them to Borrower. Ifno[ applied earlier, such funds will be applied [o the outstanding principal balance under the Note immediately prior to foreclosure. Nu offset or claim which Burrower might have now or in the future against Lander shall relieve Borrower ftom making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payment., nr 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: interest due under the Note; (b) principal due under the Note; (c) amounts due under Sectien Such payments shall be e applied each Periodic Payment shall in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other mnounts due under this Security Instrument, and [hen to reduce the principal balance ofthc Note. NF.hRASRA— Single Panty — Fannie Noe /Freddie Mac UNIFORM INS' 1'RL M FN'T Form3028 1 /01 (psge2of8pagev) 171t 1(1 /u2) 1,55840 Go rolnnn4rnnq