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200304794 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 w 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 (his 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, in trust, with power of sale, the following described property located in the County of Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] All of Lot Two (2) and the Northerly Twelve Feet (12) of Lot One (1) in Block Ten (10) in West Park Addition to the City of Grand Island, Hall County Nebraska. which currently has the address of 1030 N Howard 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 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 comet' the Property and that the Proparty is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Properly against all claims and demands, subject to myencumbrances of record. It JIS SECURITY IN STRUMENT 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 m follows; 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrowershall 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 Noce. 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 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; (e) certified check, bank check, aw swer'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 Sermon 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender mayateept any Payment or partial payment insufficient to bring the Loan current, without waiver ofanyrights hereunder or prejudice to its rights to refuse such payment or partist payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. Ifeach Periodic Payment is applied as of its schedule date, then Lender need not pay interest on unapplied funds. lender may hold such unapplied funds until Borrower makes payment to bring the Loan current If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to to foreclosure. No of1sel or Borrower tram making payments due under the Note and this Security Instrument or pertormmg 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 (he following order of priority: (a) interest due under the Note; (b) rinlal due under the Note; (c) amounts due under Section 3. Such payments shall be applied m 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. NE11 A KA- Si.&Pamily— Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form3028 bet 07nge2of8pages) 1154Cv(IIIR) It82004 G(M(0004. u)