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200208950 or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a `federally related mortgage loan" even if the 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 This Security instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (it) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, is trust, with power of sale, the following described property located in the County of Hall [Type of Recording Jurisdietionl [Name of Recording Jurisdiction] Lot Six (6) Le Heights Fourth Subdivision in the City of Grand Island, Hall County, Nebraska. which currently has the address of 4234 Kay Ave Grand Island [Street] Nebraska 6SS03 (`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 of the property. All replacements and additions shall also be covered by this Security Instrument All of the foregoing is referred loin 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 umvey 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 o any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations byjutisdiction to constitute a uniform security mstmment 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. Borrowershall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay fronds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security instrument shall be made in U.S. currency. Ilowever, if any check or other instrument received by lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender ma 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) certified check, hank 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 maybe designated by fender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment it the payment or partial payments are insufficient to bring the loan current. Lender mayaccept anypaymenl or paual payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice or its rights to refuse such payment or partial payments in the future, but fender 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 interestonunappliedfunds. Lender may hold such unapplied funds until Borrower makes payment to bring theLeancunoad. If Borrower ddoes not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immechately prior to foreclosure. No offset or claim which Borrower miulrt have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or pedorrning 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 payments shall be applied tu each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to Ian: charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. NERRASRA-Single Family- -Famde MauTr eddie Mar UNIFORM INSTRUMENT Form3028 1 /01 (page2nf8pager) v754 CV (1 /02) GI1741 G0TGnXX29Le9)