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200213850 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 it the loan does not quality 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 RIG14TS IN THE PROPERTY This Security Instrument secures to Lender: to 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, in oust, with power ofsale, the following described property located in the Cour l of Hall [Type of Recording Jurisdiction] [Name of Recording for Lot 13, Block 15, Ashton Place to the City of Grand Island, Hall County, Nebraska. which currently has the address of 2724 West Division [Street] Grand Island , Nebraska 68803 ('Property Address'): [City] [Zip Code] TOGETHER WITH all the improvements now or hereatter 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 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 grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and coil I 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 by jurisdiction 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 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 finds tar 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 require that any or all subsequent payments due under the Now 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, of 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 ifthe payment of partial payments are insufficient to bring the Loan current Lender mayaccept 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 ppartial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. IPeach 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 paymentor bring the Loan current prior to foreclosure. No offset or claim which Borrower might have now or to the future against Lender shall relieve Borrower from making payments due under the Non and this Security Instrument or performing 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 Nate; (b) princ at due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment to the order in which it became due. Any remaining amounts shall be applied first in 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-- FarlMacTrWdie Mac UNIFORM INSTRUMENT Form3028 1 /01 (page 2?(8vages) 9154.CV (1/02) 1634824