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200302389 or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers wall requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even ifthe 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 parry 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 performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Burrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the County of ]Tall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot Twenty -three (23), Potash Subdivision, Hall County, Nebraska. which currently has the address of 4047 Reed Road [Street] Grand Island ,Nebraska 68803 ( "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 add itions 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 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 mid demands, subject to any encumbrances of record. THIS SFCUR ITV INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by j urisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Inte rest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall 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, ifany check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may, equire that any or all subsequent payments due under the Note and this Security Instrument be made in one or more o t rhe 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 arc 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 Lander in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment ifthe payment or partial payments are insufdcientto bring the loan current. Lendermayaccept any Payment or partial payment i.. suffiaent to bring the Loan current, without waive' ofany rights hereunder or preludieeto its nghts to refuse such payment or ppartial payments m the firture, but lender is not obligated to apply such payments at the time such papnents are accepted. Ifeach Peuodic Payment is applied as of its scheduled due date, then Lender need notpay intereston unopplied Ponds. Lender may hold such anapptied funds until Borrower makes4aymentm bring the lAan current. IfBor'a _r ddoes not do so within .'._enable periodd of tune, Lender shall either apply such funds or return them to Borrower. ifnot applied earlier such finds will be applied to the outstanding princippal balance under the Note immediately prior to foreclosure. No offset or claim whidu Borrower might have now ar in ilea future against Lender shall relieve Borrower trom 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 priority: (a) interest due under the Note; (b) principal due under the Note; (e) 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- Stnglc FUmily- Fannie MaNFrNdie Mac UN I FORM INSTRUMENT Furm3028 I /el fpnge2 ufbpnyee/ 4759 CV (1,02) 1661008 G010(W0445e4)