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200210529 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 hr 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 thatp irty has assumed Borrower's obligations under the Now and/or this Security Instrument. TRANSFER OFRIGHTS 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 (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Burrower 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 Jun Wictionj [Name of Recording Jurisdiction] Lot Two (2) of Dean's Subdivision of Lad, Six (6) of Fairacres Subdivision, located on part of the Southwest Quarter (SWI /4) of Section Three (3), in Township Eleven (11) North, Range Nine (9) West of the Sixth P.M., in Hall County, Nebraska. which currently has the address of 610 Dean St. [Street] Grand Island ,Nebraska 68801 ('Property Address "): [Cityl [Zip Code] 'I'OGETIIER 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 covenAby 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 gaol and convey the Property and that the Property is unencumbered, except for encumbrances of record Borrower warrants and wil I defend generally the title to the Property against all claims and demands, subject to any encumbrances of proud. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non- unifonncovenants with limited variations byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Under covenant and agree as follows: 1. Payment of Principal, Int crest, 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 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, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may rTire 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 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 if the payment or partial payments are insufficient to bring the bran current. Lendermayaccept time such payments are zccepled. If each Periodic Payment is applied as of its scheduled due date, then Lender need notpay interest on amplified funds. Lender may hold such unapplied funds until Borrower makes payment m bring theloan current. If Borrower does not do so within a reas(mable 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 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 cnvensms 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 b Lender shall he applied in the following order of priority: (a) interest due under the Note; (h) principal due under Ye Note; (e) amounts due under Section 3. Such payments shall 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. NEBRASKA -- Single Family - -Fannie Ma✓Freddie Mac UNIFORM INSTRUMENT Form 3e2fl Um (page 2 of8 page..) 4]5i( 'V ugo) Gnaati GOTO(0002rdV)