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200303009 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, 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, 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 Twenty Five (25), Villa Mar Dee Subdivision, Hall County, Nebraska. which currently has 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 of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seized of the 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 SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow It ems, 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 andthis Security Instrument shall be made in U.S. currency. However, if my check 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 of the 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 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 if the payment or partial payments are insufficient to bring the Loan current. Lendermayawept any Payment or pamal payment insufficient to bring the Loan current, without waiver ofany rights hereunder or preJudice to its nghts to refuse such payment or ppartial paymenss in the future, but Lender is no[ obligated to apply such payments at the time such payments are accepted. Ifeach Periodio Payment is applied as of its scheduled due date, Men Lender need no[pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes paymen[to bringda Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. Ifnm applied earlier' such funds will be applied to the outstanding prin .P.1 balance under the Note immediately pr.0, to foreclosure. No offset or claim which Borrower to¢h t have now or in [he future against Lender shall relieve Borrower from 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 in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to amounts due under this Security Instrument, and then to reduce the principal balance of the Note. NEBRASKA — Single Family —Fanni a Mae/Fmildie MU UNIFORM INSTRUMENT Form3028 1/01 (page2of8pagv,) 9954.CV(1/02) 1665]]9