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26V2W Z '7 200205703 or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA- refers to all requirements and ocslrictions that are imposed in regard to a `federally related mortgage loan" even ifthe 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 'Phis Security Instrument secures to Lender: (i) the repayment ofthe Loan, and all renewals, extensions and modifications of the Note; and (it) the pertorrnance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, But irrevocably grants and conveys to Trustee, in trust, with power ofsale, the to[lowing described property located in the County _ _ _ of Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot Three (3), Mcadow Lane Second Subdivision of Hall County, Nebraska. which currently has the address of 3425 Conrad Drive [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 coveredby this Security Instrument. 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 right to grant and convey 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 anyencumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for rich ... I use and nonuniform covenants with Fori red variations by It ari sdiction to constitute a on ifomt 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 ot; and interest on, the debt evidenced by the Note and any prepayment charges and lute charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note :and this Security Instrument shall be made in U.S. currency. However, ifany check or other instrument received by Lender as payment under the Note or this 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 made in one or more ofthe following Corms, as selected by Lender: (a) cash; (b) money order; (c) certified check, hank check, treasurer's check or cashier's check, provided any such check is drawn upon an insulation whose deposits are insured by a federal agency, instrumentality, nr entity, or (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 be designated by Lender in accordance with the notice provisions in Section 15, Lender may return any payment or partial payment ifthe payment or partial payments are insufficient to bring the Loan current. Lendermayaccept any payment or partial payment insufficient to bring the Loan current, without waiver ofany rights hereunder or prejudice fu its rights to refuse such payment or partial payments in the future, but Leader is riot obligated to apply such payments at the time such payments are accepted- Lfeach Perindic Payment is applied as of its scheduled due date, then Lender need not pay interestonunappliedfunds. Lender may ]told such unapplied funds until Burrower makes payment m bring the l man current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. Ifni ft applied earlier, such funds wi II be applied to the outstanding principal balance under the Note immediately prior to foreclosure_ No offset or claim which Borrower mig�'ht have now or in the future against Lender shall relieve Borrower Rom making payments due under the Note and Ibis 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 Lender 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 pay tents shall be applied to each Periodic Payment to the order in which it became due. Any remaining amounts shall be app]i ed first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the In balance of the Note. NE1rE%NICA- Su&family- Eaaaie Mae /Freddie Mae I: S I FORM IN STRUM ENT Parm3028 1101 (page?nfRpag -) 9754 C (1N2) GII5a3 GatotoomlldI I