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200206375 or regulation that governs the more subject matter. As used in this Security Instrument, 'RP.SPA "refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify m a "federally related mottgage loan" under RE SPA. (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. 'I'RANSFP.R OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lenders (i) the repaymcnluf the Loan, and all renewals, extensions and modtficafionsof the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note For this purpose, Borrower in'eetwob]ygrants and conveys to'I'ruslee, in trust, with power ufsale, the following described property located in the County of Hall [Typeof Rccurdinglurisdidion] [Name ofliecording Jurisdiction] Lots One (1) and Two (2), Hazen Subdivision, City of Grand Island, Hall County, Nebraska. which currentlyhas the address of 1909 S Harrison [Street] Grand Island , Nebraska 68803 (`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 part 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 "Property," BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has (he right to giant 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 Properly against all claims and demands, subject to any encumbrances of I ecord. THIS SECURITY INSTRUMENT eombincs unifumr covenants for national use and non- unitorrncovenantswith limited variations byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Paymentol'Prineipal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of and inletest 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 and this Security instrument shall be made in U.S. currency. However, if any check or ther 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 tinder the Note and this Security Instrument be made in one or more ofthe following forms, as selected by Lender: (a) cash; (b) money order, (c) certified check, bank cheek, 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 Ti nsler 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 insufficiemto bring the Loan current. Lendermayaccept any payment or partial payment insufficient to bring the Loan current, without waiver o my rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. It each Periodic Payment is applied as of its scheduled due date, then Leader need oolpay interest on unapplied Ponds. I ender may hold such unapplied funds until Borrower makes paymentto bring the Loan current. If Borrower ddoes not do so within a reasonable period of time, Leader shall either apply such funds or return them to Borrower. It not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower not at have now or in the future against Leader shall relieve Borrower from 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 Leader shall be applied in the following order of poonty: (a) interest due under the Note; (b) principal due underihe Note; (c) amouns due under Section 3. Such payments shut] beappliedtoeach 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 ofdte Note. NEBRASKA — Single Falody Fannie Nlae/Freddie Mac CN'1FORM1NSTliUMEN'f Fun-3028 II01 (MSe2n%Bp,,, 9]Si.(V Q / @J GIIi08 60 1 r rlrNa236vo)