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200205741 or regulation that governs the same subject molter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard m a "federally related mortgage loan" even if the loan does not qualify as a "federally related mortgage loan" tinder RLSPA- (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 ohIigaions under the Note and/or this Security Instrument, TRANSFER OF RIGHTS IN I I II'. PROPERTY This Security Instrument secures to Lender (])the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (it) rite perf e nuts cc of Borrowei s covenants and ao rcmnnIs under this Security Instrument and the Note. For this purpose, borrower irrevocably at ants and conveys to'Frustee, in trust, with power of sale, the follow tire deseribed property located in the County of Hall I Type of Recanling.furisdiction] ]Name of Recording Jurisdiction] Lot 9, Block 10, in Rollins Addition to the city mf Grand Island, Hall County, Nebraska. which currently has the address of 908 W Silt [Strcetl Grand Island Nchraska 68801 (`Property Address"); ICitvl IZip Code] 1'0GE'IHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures nosy or hereu8cr a hart of the 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 "Properly" BURRO WHR COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumhcrol, except for encumbrances of record. Borrower warrants and will defend genuvl Iy the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRU.b1ENT comhtnes uniform covenants for national use and non - uniform covenants with limited variations hyjurisdictinn to conutilute a uniform severity instrument covering real properly. UNIFORM COV ENANTS. port w er and Lender covenant and agree as follows: I. Payment of Principal, Interest, Escrow Rents, Prepayment Charges, and late Charges. Borrower shall Pay when due the principal it, and interest om, the debt evidenced by the Note and any prepayment charges and late charges due under the Nola Burrower shat l also pay funds for Escrow Items pursuant to Section 3. Paymcnts due under the Note and this Security Irish Local shal I he made in II S. rumen" . However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is tenured to Lender unpaid, lender may require that any or all subsequent payments duo under the Note and this Security instrument be made in one or more of the following torms, as selected by I ender: (a) cash: (b) nwney 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 I ranstei. Payments are deemed received by Lender when reccrvcd at the locatlun designated in the Note or at such other location as may he designated by I ender in uccordulce with the notice provisions in Section 15. Lender may return any payment or partial pay local if the payment or partial payments are insufficient to bring the loan current. Lender may accept any payment or partial payment inin1 hiner1 to bring tie Loan current, without waiver of any rights hereunder or prejudice to its rights m red use such payment of J, In tial payments in the future, but Lender is not ohligaletl to apply such payments at the time such puymena are acrepted_ It cach Periodic Paynlenlis applied as of its scheduled due date, then Lender need not pay intere,donunapplielfunds. Lender may hold such unapplied Ponds until Borrower makes payment to bring the halt current. If Borrower does not do so within a rcmeonuhlc period of lime, Lender shall either apply such funds or return them to Borrower. If not app led earl ier, such lands will he applied to the outstanding principal balance under Ore Note immediately prior to foreclosure. No oft,ct or claim which Borrower might have now or in the future against Lender shall relieve Borrower from touting Paymcnts due under the Note and this Security Instrument or pcdornting the covenants and agreements secured bythte Sccuriry houruncttl. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall he 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 ParitxiicPayntent in the order in which it hecumc due- Any remaining nmounta shall be applied first to late charges, second to any other amounts due under this Sucurlp Instrument, and then to reduce the principal balance of the Nom. NEBRASKA SlaeloFzmtly— PannicNljol reaaie alas UNIFORM INS'rRlLNE5T Form3028 1/01 (page2o)'3pave.V s7%CVt1 1021 (111554 GOlO10001_11181