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200214193 or regulation that governs the same subject nutter. As used in this Security Instrument. "RES PA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage lour' 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 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 'Phis Securitylnstrumentsecurestol .ender (i) the repaymmtofthc Loan, and all renewals, extensions and modifications of the Note; and (if) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to I insure, in trust, with power ofsale, the following described property Imuled in the County of Hall [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Lot Six (6), Block Three (3), Lambert's Second Addition to the City of Grand Island, Hall County, Nebraska. which currently has the address of 708 N Broadwell [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 of hereafter a part ofthe property. All replacements and additions shall also be eoveredby this Security Instrument All of the foregoing is referred to in this Security Instrument as the "Properly" BORROWER COVENANTS that Borrower is ]awfully 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 warrant, and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT conhhines uniform covenants for national use and non - uniform covenants with limited variations byjunsdicfion 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 Nou. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under lire Note and this Security Instrument shall be made in U -S. currency- However, it'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 ofthe following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank cheek, treas'urer's check or cashier's chick, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) P.lecnone Funds Transfer Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may he designated by Lender in accordance with the notice provisions in Section IS, Lender may return any payment or partial payment ifthe payment or partial payments are insufficient o bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver ofany 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. Ifeach Periodic Payment is applied as of its scheduled due date, then Lender need not pay intereston unapplied funds. Lender may hold such unapplied finds until Borrower makes payment to bring the Loan cement. If Borrower does not do so within a reasonable period of time, Lender shall either apply such fonds or return them to Borrower. Hoot 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 covenants and agreements secured by this Secondly Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall he 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 each Periodic Payment m 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 Securty Instrument, and then to reduce the principal balance offs e Note. NEBRASKA —Sirgle Family— FVnowliho /Freddie live UN I FORM I NSTRL MEAT Fornr3028 3/01 P.... fRpngee/ 9750.CN (1'02) GI115c