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200304985 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 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, 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 Seventy -Nine (79), in Buenavista Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska. which currently has the address of327 South St [Street] 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 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 byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and on, as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender mayy require that any or all subsequent payments due tinder the Note and this Security Instrument be made in one or more the fallowing frrms, as selected by Lender: (a) cash; (b) money order; (e) certified check, batik 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 ifthe payment or partial payments are insufficient to bring the Loan current. Iender mayaccept anyPayment or partial payment Trial ictent to bring the an current, without waiver of any rights hereunderorprejudiceto its rights to refuse such payment or ppartial payments in the future, but lender is not obligated to apply such payments at the time Such payments are acce pted. Ifcach Periodic Payment is applied m of its schedule date, then Lender need not pay interest on uIt plied funds. lender may hold such unapptied funds until Borrower makes payment to bring the Ivan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately print to foreclosure. No offset or claim which Borro wer might have now or in the future against Lender shall relieve Borrower Rom making payments due under the Note and this Security Instrument or per 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 byy Lender shall be applied in the following order of priority: (a) interest due under the Note; (b)prinei al due under the Note; (c) amounts due under Section 3. Such payments shall 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. NEBRASKA. - Single Family—Fannie MUMFrcchie Mac UNIFORM INSTRUMENT Form3028 INN (pagelofgpagesJ 9754 CV (1/02) 1686625 GOTO 0004dad9)