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200303551 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 parry that has taken tide 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 Loam, 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 ofsale, the following described property located in the County of Hall [Type of Recording Jurisdict ion] [Name of Recording Jurisdiction] Lot Nine (9), Virden Subdivision in the City of Grand Island, Hall County, Nebraska. which currently has the address of 2518 W 4th Street [Street] Grand Island ,Nebraska 68803 ( "Properly Address "): [City] [Zip Code] TOGE'THE'R 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 Instrument as the "Property." BORRO W ER COV ENAN'I'S that Borrower is lawfully seized ofthe estate hereby conveyed and has the right to grant and coney 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 by jurisdiction to constitute a uniform security instrument covering real property. and lender covenant and agree as 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, if my cheek or other instrument received by Iender 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 otythe 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 Now 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 arcinsudicienl to bring the luau current. Lendermayaccept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudiceve its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. (teach Periodic Payment is applied as, of scheduled due date, then Lender need not pay interest on momplied funds. Lender may hold such unapolied funds until Borrower makes oavmentti, bring the lean current to Borrower from making payments due under me Note amt this Security Instrument or perlormmg me covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except m 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) ri aldue under the Note; (c) amounts due under Section 3.Such payments she I 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 of the Note. NERRAi" Single Family -- Fannie Mae/Freddie Mar UNIFORM INSTRUMENT Forma @A I /01 (aage2of8page-,l 9754.CV(1/02) 1667245 a0ny000479m1