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200213660 or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers I n a ll requirements and restrictions that are imposed in regard to it "federally related mortgage loan" even if the Loan does not quality as a "federally related mortgage loan" under RESPA. (Q) "Sucressor in Interest ofBorrowei"means any par ty 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 Securitylnstrumcn t secures to Lender: (I) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (u) the performancc of BOirowel's covenants and agreements under this Security Instrument and the Note. For this purpose. Borrower irrevocably grants and conveys to Trustee, intrust. with power of sale, the following described property located in the Comte_ of hall [Type of Recording I unisdiction] [Name of According lurisdictinnl Lot Two (2), Block Five (5), in Gilbert's\Adi itian to the City of Grand Island, Hall County, Nebraska. Second which currently has the address of807 W 16th _ [Street] Grand Island , Nebraska 69801 1' Property Address"): [City] [Zip Code ] TOGETHER WITH all the improvements now er hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part uf tue property. All replucemems and additions shall also be coveredhy this Security Instrument. All of the foregoing is referred to in this .Security Instrument as die 'Property." BORROWER COVENANTS that Bon'ower is lawfully seized of the estate hereby conveyed and has the right to grant 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 Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and nomunifnrm covenants with limited variations by jut isdiction in 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 late Charger. Borrower shall pay when due the principal (if, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay hinds 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 an check or other instrument received by Undei as payment under the Note or this Security Instrument is returned to lender unpaid Lender may re ulre that any or all subsequent payments due under [he Note and this Security Instrument be made in one or more of file 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 Nob: 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 Loan current Lender may accept any payment or partial payment insufficient to bring the loan current, without waiver of any tights hereunder or prejudiceto 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- I coder me), hold such unapplied funds until Borrower makes payment ui bring the Unit current. If Borrower does not do so within a reasonable period of time, [ender 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 m fiaculeure. No offset or claim which Borrower might have now or in the future against Lender shall relieve harrower !rant mxkiag ,xynta ezv due order dre Ybee jail rs SeeadlylmZraaxne or XiA1znutg dre foram U v/1/ 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 to eachliedodic, Payment in the order in which it became due. Any remaining amounts shall he applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance ofthe Note. NEBRASKA Sing, Liilily Fannie MaeFreddie Mar UNIFOILM INSTRUMENT Form3018 IAII (pa,2i )illpageo 9754 CV (M2) 16 ?1658 otu l)IIIINIiul9cl