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or L,owmw M214186 200214012 or regulation that governs the same subject matter. As used in this Security Instrument, -RL'SPA- refers to all rcyuirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if 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 w 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 Securirylnsnumemsecures to Lender: to the repayment ofthe 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 trust, with power of sale, the following described property located in the County of Hall Five (5) [Type of Recording lurisdictioa] IName of Recording Jurisdiction] Lot$*X*0H Block One Hundred Twenty Three (123) Union Pacific Railway Company's Second Addition to the City of Grand Island, Hall County, Nebraska. which currently has the address of 470 -422 1/2 W 7th [Street] Grand Island Nebraska 68803_ ( °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 cuveredby this Security Instrument All of the foregoing Is referred to in this Secanty 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 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 nonuniform covenants with limited variations by jurisdiction to constitute a uniform security instrnment covering real property. UNIFORM COVENANTS. Borrower and Gender 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 Imids Pot 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 Note and this Security Instrument be made in one or more of the following forms, as selected by Lender (a) cash; (h) 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, ar (d) Electronic Ponds 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 aa:ordance with the notice provisions in Section 15. Lender may return any paymentor partial payment if the payment or partial payments are insufficient to bring die Loan current. Lender may accept any payment or pnrdal payment insufticicnt hh bring [he Loan current, without waiverofany rights hereunder or prejudice ut its fights to refuse such payment orpsrtial payments in the furore, buticndcr is nut ubligaled m apply such payments at the time such payments are accepted IfeachPcnome Payment is applied as of its scheduled due date, then Lender neui not pay interest on unapPInal funds. Lender may hold such unapplied fiends real Borrower makes payment to bring the Loan current. II' Borrower does not do so within a reasonable period ol'time, Lender shell either apply such funds or return them m Borrower. If not applied select, such funds will be applied to the outstanding principal balance under the Nole immediately prior to foreclosure- No offset or claim which Borrower might have now or re the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing [he covenants and agreements secured by this Security Tnstrumcnt. 2. Application of Payments or Proceeds. Except as otherwise descrihed in this Section 2. all payments accepted and applied b Lender shall be applied in the following order of prionry: (:) interest due under the Note; (b) Principal due under] he Note; (e) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in te order in which it became one. Any remaining amounts shall be applied first to late charges, second m any Chet amounts due under this Security Instrument, and then to reduce the principal balance of the Note. NEBRASKA Single Family-- FLIDDIe MadFredde Mae UNIFORM INSTRUMENT Pbrm102a 1/01 tpnNe2n /8 V..x.'.. 9754CVU912> ooisn WfR/AlaI11E0i