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20030259$ or regulation that governs the same subject matter. As used in this Security Instrument, "R IES VA- refers to all ToLimeemmds 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 I met est 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 PROPER IY 'Phis Security Instrument secures to Lender. (i) the repayment of the Loan, and all renewals, extensions and modifications of the Noce; and (it) the performance of Borrower's covenants and agreements under this Security Instrument and the Notc. Pot 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.lurisdictiun] [Name of Recording Jurisdiction] Lot Nine (9), Black fen (10), in tlnivcrsity Place, an Addition to the City of Grand Island, Nebraska. which currently has the address of 2216 N. Howard [Street] Grand Island ,Nebraska 68803 ( "Property Address "): [City] [Zip Code] TOGETHER Willi all the improvements one, or hereafter erected on the propy, and all easements, appurtenances, and fi.ehine, now el hereafter apart of property. All replacements and additertions shall also be covered by this Security lustrtiment. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER CO V ENAN'fS final Borrower is lawfidly seized of the estate hereby conveyed sod has the right to grant and convey the Properly and that the Property is unencumbered, except for encumbrances of record. Ierrower warrants and ME defend generally the title to the Property against all claims and demands, subject to any amumbranees of ecord. 'I I I I S S I I( I) R ITY INSTRUMENT web ines uniform covenants for national use and non -u nitbmn covenants with limited variations by jurisdiction in constitute a unifimn security instrument euveriug real property. ON [FORM COVENANTS. Borrower and l ender covenant and agree as fullows; I. Payment of Principal, I Later est, Escrow Items, Prepayment C haages, and Late Chmges. Bon owershall pay when due the principal of and interest on, the debt evidenced by the N one and any prcmymad charges and late charge due under One Note_ Rnarowor shall also pay funds for Escrow Items pursuant to Section 3. Payments due under Ilse Note and this Security Instrument shall be made in U.S. currency. however, ifam check or other instrumeent received by Lender as payhnent under the Note or this Secur ily Instrument is returned to Lender unpaid, Lender may require that any or all subsegtreat payments due under the Note and this Security Instrument be it in or ie or more u(the following Ion in,, as selected by I ender (a) cash; (b) money cadet; (c) certified -heck, 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 I ronsfcr. Payments are deemed received by I ender when rcecivcd at (lie location designated in the Note of at such other location as may he designated by Lender in accordance with the notice provisions in Section I5 I ender may return any payment ur partial poymenl if the paymentor partial payments are insufficient to bring tl e Loan current Lendei may accept any paymentor partial payment insufficient to bring the Loan current, withoutwaiver of any rights hereunder or prejudice: to its nghe to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the I roar such pavmenls arc accepted. If each Periodic Payment is applied as of its schedule date, then bender need not pay iutcretonunappliedtunds. Lender mayhold such unapplied funds until Borrower makes paymenttobringthe Loan current. If Borrower does nn[ do sn within a seasonable period of time, Lender shall either apply such fimds or return them to Burrower. Ifnot applied earlier, such funds will he applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the nature against Lender shall relieve Borrower fiom making payments due under is Nom and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Applicat Inn 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; (c) amounts uc under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it bcwmc duc. Any remaining amounts shall be applied first to late charges, second to any other anw re unts due under this Serenity lustnmyent, and then to reduce the principal balance of tire Note. NERRASKA Siaglcl'ami I,F ri..&11 a /F,eadleM- UNIFORM INSTRUMENT Form39213 1 /01 (pog. 9954 CV (VUJ) 116851] GR r OIONn ilgfil