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200305520 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 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 properly located in the County of Hall _ [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot Six (6), Block Seven (7), Gilbert's Second Addition to the City of Grand Island, Hall County, Nebraska. which currently has the address of 1403 N. Greenwich [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 ofthe 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 ofthe estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and wil I 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. UNIFORM COVENANTS. 1. Pavment of Principal, pay when due the principal of, and interest on, the debt evidenced by th due under the Note. Borrower shall also pay funds for Escrow Items and this Stuart ty instrument shall be made in U.S. currency. However, as payment under the Note or this Security Instrument is returned to subsequent payments due under the Note and this Security Instrumen selected by Lender: (a) cash; (b) money order; (o) certified check, provided any such check is drawn upon an institution whose deposits entity; or (d) Electronic Funds Tra nsfu. Payments are deemed received by lender when received at location as may be designated by lender in accordance with the noti . and agree as follows: yment Charges, and Late Charges. Borrower shall e Note and any prepayment charges and late charges pursuant to Section 3. Payments due under the Note ifany check or other instrument received by Gander Lender unpaid, Lender may require that any or all t be made in one or more of the following forms, as bank cheek, treasurer's check or cashier's check, are insured by a federal agency, instrumentality, or the location designated in the Note or at such other ce provisions in Section 15. Lender may return any payment or partial payment it payment or partial payments are msulttclent to bring the t.oan current. tenaermayaccept mypayment or partial payment insufficient to bring the Loan current, without waiver of my rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Gender is not obligated to apply such payments at the time such payments are accepted. Ifeach Periodic Payment is applied as of its scheduled due 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 ddoes 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 prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from 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 by lender shall be applied in the following order of priority: (a) interest due under the Note; (b) princpaId ue under Ilse 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 of the Note. NEBRASKA Single Fondly— Fannie Mnr/Frvddie Mnc UNIFORM INSTRUMENT Forin3a28 I/01 (page2of8pages) 9754CV(1 102) n,87821 GOYO(00"'I.)