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200303282 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 die 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, 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), D. & E. Subdivision, Hall County, Nebraska. which currently has the address of 7551 N Webb Rd [Street] Grand Island ,Nebraska 68803 (`Property Address "): [Citvl [Zip Code] TOGETHER WI I all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. AllreplacemenUandad Rion shall also be covered by this Security Instrument. All ofthe foregoing is rewired to in this Security Instrument as the "Property." BORROWER COVENAN'T'S that Borrower is lawfully sciud of die estate hereby conveyed and has the right to grant and coney the Properly and that the Property is unencumbered, except for encumbrances of record. Borrower m warras and will defend generally the title to the Property against all claims and demands, subject w any encumbrances of record. 1'111S SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment ofPrinci tl,Interest, Escrow Items, Prepayment Charges, and late Charges. Borrowershall pay when due the principal of and interest on, the debt evidenced bythe 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 Secariry Instrument shall be made in U.S. currency. However, if any 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 we 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. lender mayacccpt any payment or partial payment insuttiment to bring the Loan current, without waiver of my rights hereunder or prejudice to its tights to refuse such payment or ppartial pxymen[s in the Cumre, but lender is not obligated m apply such payments at the time such payments arc accepted. Reach Penodte Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such uneppliedfimds until Borrower makes paymenttobring the Loan current. If Borrower does not du so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. Ifnot applied eazlieq such funds coil I be applied to the outstanding principal balance under the Now immediately prior to foreclosure. Nu offset or claim which Borrower mip}rt have now or in the future a ainst Lender shall relieve Burrower from making payments due under the Nole and this Security Instrument or per the covenants and agreements secure) by this SecuriTy Instrument. 2. Application of Payments or PmceeJs. Except as otherwise of described in this Section 2, all payment; accepted and applied by Gander shall be applied in the following order of priorityy: (a) interest due under the Note; (h) pnncipal due under the Note; ( ;) amounts due under Section 3. shall Such payments shall be app charges, each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to law charges, second to any other amounts due under this Security rumen then to reduce die principal balance of the Note. NEBRASKA Single Family—Fannie Ma Freddie Mar UNIFORM INSTRUMENT Form3028 1101 (pnge± f8page,) 9154.CV(I102) inn8132 CATV0004662)