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200214302 or regulation that govems 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 if the Iran does not qualify as a "federally related mortgage loan" under RESPA. (Q) `Successor in Interest of Borrower" means any pat tythat has taken tide to the Property, whether or not that potty has assumed Borrower's obligations under the Note and/or this Security Instrument TRANSFER OF RIGHTS IN IHE PROPER'T'Y This Security Instrument secures to Lender (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose. Borrower irrevocably grams and con vcys'to Trustee, in trust, with power of sale, the following described property located in the County of Hall [Typeof Recordinglurisdictionl [Name of Recording lurisdictuml Lot Sixteen (16), Block Eighteen (18), University Place, an Addition to the City of Grand Island, hall County, Nebraska. which currently has the address of 2003 N Sherman Blvd I Sit evil Grand Island _ Nelaasku 68803 _ (`Property Address" )'. [City] [Zip Code I TOGETHER WITH all the improvemenu now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereaMrn putt of property. All replacements and additions shall also he covercd by this Security Instrument All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrmvcr is lawfully seized of the estate hereby conveyed and has the light to grant and convey the Property and that the Property is unencumbered, except Tor encumbrances of record Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to anyencumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenanm for national use and non - uniform covenant, with limited variations byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and dander 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 Nom and any prepayment charges and late charges due under the Note. Borrower shall also pay funds 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 any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Ienchn may require that any or all subsequent payments due under the Note and this Security Insnument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certific t check, bank check, treasurer's cheek or cashier's check, provided any such check is drawn upon an instturion whose deposits are insured by a federal agency, instrumentality, or entity: or(d) Electronic Funds T1'anstei. 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. Lander may return any paymciu m partial payment if the payment or partial payments are iusuffcient m bring the Loan curreat. Lender may accept any payment or partial payment insufficient to bring the I roan current without waiver of any rights hereunder or prejudiceto its rights to refuse such payment or partial payments in the future, butLender is nocobligated to apply such payments at the time such payments are accepted. If each Periodic Pat -ment is applied us of its scheduled clue dace. then Lender aced not pay intereston unapplied funds'. Lender may hold sash unapphed tends until Bounceei make, payment[, bringthe Lcan current. If Borrower does not do so within a reasonahle period of time, Lender shall either apply such funds or return them to Borrower. II not applied earlier, such funds will he app Ited to the cuts Land ing 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 agicements 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 duo under the Note: (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied fins[ to late charges, second to any other amounts due under this Security Inswment, and then to reduce the principal balance ofrhe Note. .NEB ASKA -Single F2ial, tVmivNI.sXrufdiu Mae UNIFORM INSTRUMENT Form3028 1 /01 (page2aj8page,) 97va f V p/a2) 1631733