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200203957 TRANSFER OF RIOHTS IN THE PROPERTY This Security Instrument secures to Lender, E) the repayment of the Luau, and all renewals, exteasio'as and modifications of the Note, and (ii) the petforrnance 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 __... _.. .......... .. .....................C,agRfY... .......... ......._ _........ of ITwe of necoraina jurisdiction] Hall County. Register. of, Deeds ............................ ..............................: [Name of nocomina Jeradlctbrd Lot Six 161, in Block Two 121, in West Bel Air Addition to the City of Grand Island, Hall County, Nebraska. which currently has the address of ...... 1733 Garland St,,,,, , ........ ............ ............ Ismeeel _Grand Island. Nebraska ............. BBB01._. .......... ( "Property Address "): Ickyl [zip code] TOGETHER WITH all the improvements now or hereafter erected on the properly, and all casermans, appurtenances, and fixtures now or hereafter it par[ of the property- All replacements and additions shall also be coveted by this Security Instrument. All of the foregoing is referred to in Ibis Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grout and uonvcy the Property and that the Property is unencumbered, except for encumhrances of record. Borrower warrants and will defend generally the tide to the Property against all claims and demands, subject to any eucumbmaces of record. THIS SECURITY INSTRUMENT cmnbines unifomm coveuauts for national use and non- uniform covenants with limited varialions 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. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the NOW and any prepayment charges and late charges due under the Note. Borrower shall also pay foods for Escow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in 11 S. currency. However, if any check or other instrument received by Lender as payment under the Note or Ihis Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be trade in one or more of the following tomb, as selected by leader: (a) cash; (b) money order, (c) certified check, bank check, treasurer's check or cashier's check, provided any such cheek is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Foods'Iransfer. 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, Leader may return any payment or partial payment if the payment or partial payments are insufficieut to bring the Loan current. Leader may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights On refuse such paynmnt or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted- if each Periodic Payment is applied as of its scheduled due date, then Leader need not pay interest on unapplied funds. Lender may hold such uoapplied funds until Borrower makes payment N bring the Loan current, if Borrower does not do so within Of reasonable period of time, Lender shall either apply such funds or return them to Borrower- If not applied earlier, such funds will be applied m die outstanding principal balance under the Note immediately prior to foreclosure, No offset or claim which Borrower might have now or in the future against Leader shall relieve Borrower from making payments due under the Nam and this Security Instrument or performing 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 Leader shall be applied in the following order of priority: (a) interest due under the Note; (b) principal 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 If Leader receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient Summit to pay day late charge due, the payment may, be applied to the delinquent payment and the Tale charge. If more than one Periodic Payment is outstanding, Leader any apply any payment received from Borrower to the repayrncal of the Periodic Payments if, and to the extent that, each payment can he paid in full. To the extent that any excess exists after the payment is applied to the full paynnem of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of die Periodic Payments. 3. Funds for Escrow Items. Burrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a said (the "Funds ") to provide for payment of amounts due for: (a) taxes and assessments and other items which can mount priority over this Security instrument as a Bea or encumbrance on the Property; du leasehold payments or ground rents on the Property, if any; (c) premiums for any mud all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower in Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items -" At origination or at any lime during the term of the Loan, Lender may require that Community Association Dues, Fees' and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall he an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shalt pay Leader the,Fugds; fgr-Esgrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Leader Funds for any or all Escrow items at any tune. Any such waiver may only be in writing- In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Leader and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes he dccnrel to be a covenant and agreement committed in this Security Instrument, as the phrase "coverrom and agreement" is used in Section 9. If Burrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower NEBRASKA— SIn91e Family— Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 30 1101 Bankora Tyn"mv, Ia-at Co.'. MN Form -- l -Nr rlllll000 uad'e 1 ef0,911'1