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200210423 or regulation that governs the same subject matter. As used in this Security Instrument, "RF.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 as x "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 R1G11TS IN THE PROPERTY This Security Instrument secures to Lender F) the repayment of the Loan, and all renewals, extensions and modifications of the Now; and (ii) 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, in trust, with power of sale, the following described property located in the County of Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot Nine (9), Block Three (3), in Replat of Riverside Acres, an Addition to the City of Grand Island, Hall County, Nebraska. which currently has the address of 2407 Cottonwood Rd [Sneer] Grand Island , Nebraska 68801 ( "Property Addsess "): [City] [Zip Code] 'fOGETI ER WITH all the improvements now or hereafter erected on the pproperty, and all easements, appurtenances, and fixtures now or hereafter apart of the property. Allreplacementsandadditioreshall also be coveredby this Security instrument. All of the foregoing is referred to in this Security Instrument as the "Property.' BORROWER COVENANTS that Bonower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Propperty 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 any encumbrances of round. THIS SECURITY INSTRUMENT combines uniform covenants fro national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNBURMCOVENANTS. Borrower and Lender covenant and agree as follows L Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall 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 Now. Borrower shall also pay Ponds for Escrow Items pursuant to Section 3. Payments due under the Now 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 Iender 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) 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 Transfer. Payments are deemed received by Lender when received at the location designated in the Now or at such other location as may be designated by Lender in accordance with the nonce provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Lean 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 unapplicd funds until Borrower makes payment to bring the Loan clnrent If Borrower does not du so within a reasonable period of time, Lender shall either a ply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately Eto f ucclusure. No offset or claim which Borrower might have now or in the future a ainst Lender shall relieve Borrower from making payments due under the Note, and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except a, 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 shot I be applied to each 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 of the Note. NEBRAS" Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 (page 2 of8 pager) 975,& CV (1/02) G11069 GGT ffx?e492)