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200305309 or regulation that governs the same subject matter. As used in this Security instrument, "RESPA" onfe rs 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 RE SPA. (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 Seeuritylnstmmentsecuresto Lender. (it the repaymentofthe Loan, and all renewals, extensions and modificationsof the Note; raid (ii) the performance of Borrower's covenants and agreements under this Security Instruntent 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 e C Recording Jurisdiction] LN ame of Recording Juri sdicti on] Lot 9, Block 2, Lakeview Addition to the City of Grand Island, Ila11 Clannty, Nebraska. which currently has the address of _ 118 West Ashton Avenue [Street] Grand Island , Nebraska 68801 ( "Property Address "). [City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all casements, appurtenattces, 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." BORROWER COVENANTS that Borrower is lawfully seised ofthe estate hereby conveyed and has the right to gram 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 anyencumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for nation.I use and non -unit u n covenants with limited variations hyjurisdiction 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 Items, 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 and this Security Instrument shall be made in LLS .currency. However, i Carry check or other instrument received by lender as payment under the Note or Otis Security Instrument is returned to Lender unpaid, Lender my require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more a die following forms, as selected by Iender: (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 locution designated in the Note or at such other location as may he 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 cute cut. Lende rnayaecept any payment or partial payment insufficient to bring the Loan current, without waiver ofany rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lcndcr is not obligated to apply such payments at the time such payments arc accepted. If each Periodic Payment is applied as ofits scheduled due date, then Lender need not pay interest on cru pplied fitnds. Lender may hold such unapplicd funds until Borrower makes payment o bring the Latin current. If Borrower does not du so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. Your applied earlier, Such funds will be applied to the outstanding principal balance under the Note inunediately prior to foreclosure. No nRSd or claim which Borrower might have now or in the fiumre against Lender shall relieve Borrower front staking 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 paynca is accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (e) amounts due under Section 3. Such payments shall be appliellmcach 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. NEBRASKA - Single Family — Fannie MmYFreddie Mae UN I FORM INSTRUMENT Fnrm3028 1/01 (page2cf8pap ) `saevluesem an L A�yV 60T0(WO23831)