|
�
<br /> �
<br /> ��15�3SS�
<br /> �E} '1VIERS"is Martgage Electron�c Registration Systems, Inc. MERS is a separate corporation that i5 acting
<br /> solely as a nanunee for Lender and Lender's suCce��ors and assigns. MERS is the benefi�iary under this Security
<br /> Instrumen�. MERS is organized and existing under the�aw5 of De�aware, and has an address and telephone num�er
<br /> of P.U. Svx 2�25, Flint, M� 4$5fl1-2�26, tel. �S$$} 679-MERS.
<br /> (F� 'Note"means t�ie prQmissory nate signed by Borrovwer and dated �ZJNE 5, ��15 .
<br /> 'IYie Not�s�at�s that Borrower awes Lender 4NE HUNDRED THflUSAND AND �D/l��
<br /> Dollars �U.S. $ 1�D,❑D�.0 0 }p�us interest.
<br /> Borr�wer has pr�mis�d to pay this d�bt in regular Periadi� Payrnents and to pay the debt in full nat later th an
<br /> JCTLY 1, 2�3� .
<br /> �G) '�'roperty"means th�property�hat is descrihed b��ovv under the heading "Transfer of Rights in the Prflperty."
<br /> �H} 'Z.oan"means the debt e�idenced by the Note, plus interest, any prepayment charges and late charges due under
<br /> the N�t�, and all sums due under this Security Instrument, plus interest.
<br /> [I} "Riders"means all Riders to this 5e�urity Instrument that are executed by Borrower. The fallowing Rid�rs are
<br /> to be executed by Borrow�r [�heck hox as appli�able]:
<br /> [] Ad�ustable Rate Rid�r � Planned Unit De�elopment Rider
<br /> [] Balloon Rider [] Biweekly Payment Rider
<br /> � 1-4 Family Rider � Secand Home Rider
<br /> � �ondaminium Rider [] ��h�r�s} [specify]
<br /> �J} "App�i�able Law"means all con�rolling applicable federal, state and locai statutes, regulations, ardinances and
<br /> administrati�e ru�es and orders (that ha�e the effect af lav�� as well as alI applica�le fina�, non�appealahle judi�ia.�
<br /> opinions.
<br /> �K} "Community Association I]ues, Fees, and Assessmen�s"means all dues, fees, asse5sments and ather�harges
<br /> that are impased nn Borrower or the Property by a candominium ass�ciation, homeown�rs association vr similar
<br /> organizativn.
<br /> �L} '�ie�tron�ic Funds Transfer"means any transfer of funds, other than a transaction originated by check, draft,
<br /> or similar paper�nstrument, which is initiated through an electronic terminal, te�ephonic instrument, evmputer, or
<br /> magnetic tape so as tv order, instruct, or authorize a financial instituti�n to debit or credit an account. 5uch term
<br /> includes, but is nat limited to, point-of sale transfers, automated teller machine �ransact��ns, transfers initiated by
<br /> telephone, wire transfers, and autvma�ed clearinghouse transfers.
<br /> �M} '�s�row Items"means thfls�items that are described in Section 3.
<br /> tN} '�Vliscellaneous Pro�eeds"means any c�mpensation, settlement, avvard�f damages, vr proce�ds paid by any
<br /> third party �other than insuranc�graceeds paid under the ca�erages described in Section 5} for: ti� damage to, ar
<br /> destruction of, the Prop�rty; �ii}candemnativn or flther�aking of a�l or any part of the Property; ti.ii} c�n�eyance in
<br /> lieu of condemnation; �r �i�} misrepresentations of, or�missions as ta, the�alu�andlor conditivn of th�Praperty.
<br /> �Q} 'ZVlortgage Insuranee"means�nsurance protecting Lender against the nonpayment of, or default�n, the L�an.
<br /> �P) "Perifldic Fayment"means the regularly scheduled am�unt due for�i}principal and in��rest under the N�te,
<br /> p�us �ii}any amounts under Sectian 3 of thi5 Securi�y Instrument.
<br /> ��} 'ZtESPA"means the Real Estate Settlem�nt Procedures Act �12 U.S.�. §�6�1 et seq.} and its implementing
<br /> regulation, Regulatian� ��2 �.F.R. Part 1 D�4}, as#.hey might be amended from time to�ime, or any additional ar
<br /> successor �egislatian ar r�gulation that gfl�erns the same subject matter. A� used in this Security Ins�rumen�,
<br /> "RESPA" ref�rs tv all requirements and re�trictions that are imposed in r�gard to a"federally re�ated mortgage loan"
<br /> e��n if the Loan does not qua�ify as a "federally related mort�age loan" und�r RESPA.
<br /> NEBRASKA--Single Famify--Fannie MaelFreddie Mac UNiF�RM 1N5TRUMENT- MERS ����f�
<br /> Forrn 3028 �1D1 Page � of 15 www.docmagic.�om
<br />
|