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200305724 or regulation that governs the same subject matter. As used in this Security Instrument, "KESPA" 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" memis any party that has taken title to the Property, whether or not that parry 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 ofthe 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 ofReeording Jurisdiction] Lot Three (3), Block Four (4), in Schimmer's Addition to the City of Grand Island, Hall County, Nebraska. which currently has the address of 611 W 13th [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 die foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seizzd 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 byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Psymentol'Priacip m a], Inte rest, 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 Note. Borrower shall also pay finds for Escrow Items pursuant to Section 3. Payments due under the Note andlhis Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Under as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subseyucn[ 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 ordu; (o) certified check, bank check, treasurer's check or c,edder's check, provided any such check is drawn upon an msntunon 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 Noe 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 orpartnl payment ifthe payment or partial payments are nt, without t tobring the Loan current. Lender mayacceto anypayment or partial payment insuffiaen[to bring [he Loan current,waiver li a tenghlshereunderor ents prejudice its nghes to refuse such papnent or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. I each Periodic Payment is rids Borrower c er makes payment then bring Loan c net pay of interest on unapplied funds. Lender may hold such unapplied funds umil Borrower either apply or re loan current. If Borrower ddoes not do so within a reason¢ble period of time, Lender shall either apply such funds or return [hem to Borrower. a to applied earlier, suchfunds will be applied totheoutstanding principal balance under the deNote immediately prior to rfivaosure. No offset or claim which Borrower might have now st u the town against Lender shall relieve Borrower (tutu making payments due under the Non: and this Security Instrument or performing the covenants and agreements secured by this Security hearmnent. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied byy Lender shall be appplied in the following order of priority. (a) interest due under the Note; (b) rincipal due under L Note; (c)amounts due under Section 3. Such payments shall be applied to each Periodic Payment in die 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. NEBRM"R ingle Family — Fannie MacTreddie Mac UNIFORM INSTRIIM ENT F'orm3028 1101 fyage2nf8pages) 9754 CV (1102) 1692215 OOT0(0004e694)