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200207932 Lot Fourteen (14), Block Five (5), Valley View Subdivision, in the City of Grand Island, Hall County, Nebraska. which currently has the address of 1012 E. Sunset [sirecil Grand Island , Nebraska 68801 ( "Property Address"), [Ceyl [Z,, a,Je] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtermaccs, and fixtures now, or hereafter a put of the property - All replacements and additions shall also be covered by this Security Instrmnenl. All of the foregoing is referred to in this Security Instrument as the "Property BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant mid convey the Property mid that the Property is unencumbered, except for encumbrances of record. Burrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations byjurisdieGon 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 fate Charges. Rorrowcr shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges aid late 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 he made in U.S. currency. However, if any check or outer 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 of the following forms, as selected by Lender: (a) cash; (b) money order; (c) cci iGcd 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 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 Suction 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any 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. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bang the Loan current. If Burrower does not do so within a reasonable period of time, Lender shall either apply such funds or remm them to Borrower. If 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 might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants aid agreements seemed 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 tine Note; (b) principal due under the Note; (c) amounts due trader Section 3. Such payments shall be applied to each Periodic NERRASKA Single Fdmlly-- Fannie Mae /Freddie Mac UNIFORM INSTRUME5'1 Fur,n 30281/01 Modified Far %A �in)liiuii— vrzx/lccl (YnSeJ 1/3 pugcr)