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20150/00
<br />(I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final,
<br />non - appealable judicial opinions.
<br />(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and
<br />other charges that are imposed on Borrower or the Property by a condominium association, homeowners
<br />association or similar organization.
<br />(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by
<br />check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic
<br />instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit
<br />or credit an account. Such term includes, but is not limited to, point -of -sale transfers, automated teller
<br />machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse
<br />transfers.
<br />(L) "Escrow Items" means those items that are described in Section 3.
<br />(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds
<br />paid by any third party (other than insurance proceeds paid under the coverages described in Section 5)
<br />for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of
<br />the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to,
<br />the value and/or condition of the Property.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
<br />the Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under
<br />the Note, plus (ii) any amounts under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its
<br />implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to
<br />time, or any additional or successor legislation or regulation that governs the same subject matter. As used
<br />in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed m regard
<br />to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage
<br />loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether
<br />or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions
<br />and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under
<br />this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to
<br />Trustee, in trust, with power of sale, the following described property located in the County of Hall:
<br />Lot Three (3), Block Five (5) in Claussen Country View Addition to the City of Grand Island,
<br />Hall County, Nebraska
<br />Parcel ID Number: 400031655
<br />which currently has the address of 910 S Vine St, Grand Island, Nebraska 68801 ( "Property Address "):
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all
<br />easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and
<br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
<br />Security Instrument as the "Property."
<br />NEBRASKA -- Single Family -- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 (page 2 of 15 pages)
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