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200200975 or regulation that governs the same subject matter As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that ale 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 0) the repayment of the Iraq and all renewals. extensions and modifications of the Note; end (it) the performance of Borrower's covenants and agreements under this Security Insrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described propertylocawrlinthe County __ —of hall [Type of Recording Jurisdiction] [Name of Recur ding Jurisdiction] Lot One (1), to Black Seventy Seven (77), Wheeler and Bennett's Third Addition to the City of Grand Island, Hall County, Nebraska. which currently leas the address of 319 E 15th — [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 replacementsand additions shall also becovemdhy this Security Insnvment. 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 tight to grant and conve the Property and that the Property is unencumbered, except for encumbrances Gf 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 INS rRGMENT 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 as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. R(anowershall pay when due the principal of, and interest oil, the debt evidenced by the Note and any prepayment charges and late charges due under the Note- Borrower shall also pay funds fim Escrow Items porsaanl to Section 7. Paymenu due under the Note and this Securityliesn'umeat shall be made in U.S. currency. However, it any checker oNer instrument received by lender as payment under the Note or [his Security Iasrrument is returned It Lender unpaid, Lender nmy require that any or all subsequent payments due under the Note and this Security Instrument he made in one or more of the following terms, as selected by Lender: (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, m (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 he designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan cnrcn[. Lender may accept any payment or put ial payment insufficient to In the J.oari current, without waiver of any rights hereunder m laejus ice to its rights to refuse such payment or partial payments in the hare, but Lender is not obligated to up, ply such payments at the time such payments are accepted. It each Per mdic Payment is applied as of its scheduled due date, then Lender need not pay interest on m appI red funds- Lender may hold such unapplied funds until but i ow er makes payment to a ingthe Wan current. If Borrower does not do so within a reasonable period of lime, Lender shall either apply such funds or return them to Borrower It not applied earlier such hinds win he applied to the ourstan ling principal balance under the Note immediately prior to foreclosure No offset or claim which �orrower might have now or in lire furore a -ainsr Lender shall relieve Borrower from making payments due under the Not. and [his Security Insnvment or perming the covenants and Lou eemems secured by this Seca' try 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 to the following order of priority: (a) interest due under the Note: (b) principal due under the Note; (c) amounh due under Section 3- Such payments shall be, applied m each Per'todicPayment 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, NFHRASKA- Single Family- Faunle MaeXrcddla Mao UNIFORMINSTItUMENT Farn0028 1 /01 (pn8r2nl8p,a,,) 9751.CV (niu) Gr1313 coromonooaa