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200214263
<br />or regulation that governs the samesubject mattes As used in this Securitylnstrument, "RBSPA" refers to all requirements
<br />and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a
<br />"fader ally related mortgage loan" under RF.SPA.
<br />(Q) "Successor in Interest of Borrower' means any party that has taken title to the Property, whether or not that parry has
<br />assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER Oh RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to tender. (i) the repayment of the Lour. and all renewal s, extensions and modifications of
<br />the Nine; and (it) the performance of Borrower's covenants and agreemens under this Security Instrument and the Note.
<br />For this purpose, Borrower irrevocably dram and conveys to tonsure, in trust, with powerof sale, the following described
<br />property located in the County of Hall
<br />[Type of Recording Jurisdiction] [Name of Recording Jurisdiction]
<br />Lot Twenty-Pour (24), Weslroads Estates Fourth Subdivision, hall County, Nebraska.
<br />which currently has the address of 3554 Summer Drive
<br />[Street]
<br />Grand Island . Nebraska 68803 ('Property Address "):
<br />ICityl [Zip Codei
<br />'I'OGETIIER WITH all the improvements now or hereafter erected or, the property, and all easements,
<br />appurtenanueS, and fixtures now or hereafter a part fthe property- All replacements and additions shall also be covered by
<br />this Security Instrument All of the foregoing is referred to In this Security Instrument as the' Property,
<br />BORROWER COVENANTS that Bormwcr is lawfully seized of the estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of
<br />reared.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with
<br />limited variations byjuriss iction to constitute a uniform security instrument covering real property.
<br />UNIfORMCOVENANTS. Borrower and Lender covenant and agree as follows:
<br />L Payment of Principal, Interest, Escrow Items, Prepayment Charges, and late Charges. Borrowerehall
<br />pay when due the principal of, and interest on, the deht evidenced by the Note and any prepayment charges and late charges
<br />dire under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Nate
<br />and this Security Instruments hall he made in U. S . currency. However, it any check or otter instrument received by Lender
<br />as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all
<br />subsequent payments due under the Note and this Security Instrument he made in one or mote of the following forms, as
<br />selected by 7 ender la) cash; @) money order: tie) certltied check, bank check, treasurer's check or cashier's- check,
<br />provided any such check is drown upon an institution whose dcpotis arc insured by a federal agency, arstrunowalcutv.ol
<br />entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any
<br />Payment or partial payment if the payment or partial payments are insufficient to bring the lu,an current. Lender may.,apt
<br />any payment or partial payment insufficient to br[ng the Loan current, without waiver of any rights hereunder or prejudice to
<br />its rights to refuse such payment or partial paymens to the future, but I ender is not obligated to apply such paymmis at rte
<br />time such payments are accepted, If each Periodic Payment is applied as of its scheduled due date, then Lender need act pay
<br />interest on unapptied funds- Lender may held such u tap died funds until Borrower makes payment io bring We Loan cunent,
<br />If Borrower does not do so within a reasonable perioS of time, Lender shall either apply such funds or return them to
<br />Borrower. If not applied earlier, such funds will he applied no the outstanding principal balance under the Now immediately
<br />prior to foreclosure- No offset or claihn which Borrower might have now or in the future against Lender shrill relieve
<br />Bi nrower from ranking payments due under the Note and this Security Instrument or performing [tic covenants and
<br />agreements secured by this Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by fandcr shall be applied in the following order of priority: (a) interest due under the Note:
<br />jo principal due under the Note; (c) amounts due under Section 3- Such payments shall be applied lo each Periodic Payment
<br />in the order in which it became due. Any tua aining amounts shall be applied first to late charges, second to any other
<br />amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
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