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200102288
<br />(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or
<br />similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so
<br />as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to,
<br />point -of -sale transfers, automated teller machine transactions, transfers Initiated by telephone, wire transfers, and automated
<br />clearinghouse 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 paid by any
<br />third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction
<br />of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation;
<br />or (iv) misrepresentations of, or omissions as to, the value and /or condition of the Property.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii)
<br />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 implementing regulation,
<br />Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or
<br />regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and
<br />restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally
<br />related mortgage loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that
<br />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 and modifications of
<br />the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For
<br />this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property
<br />located in the County of Hall
<br />[Type of Recording Jurisdiction] [Name of Recording Jurisdiction]
<br />A tract of land comprising a part of the North Half of the Northwest Quarter
<br />(N1 /2NW1 /4) of Section Thirty Five (35)9 Township Eleven (11) North, Range
<br />Ten (10) West of the 6th P.M., Hall County, Nebraska, and more particularly
<br />described as follows:
<br />Beginning at the southwest corner of and North Half of the Northwest Quarter
<br />(N1 /2NW1 /4); thence northerly along and upon the west line of said North Half
<br />of the Northwest Quarter (Nl /2NW1 /4), a distance of Four Hundred Fifty Nine
<br />and Thirty One Hundredths (459.31) feet; thence deflecting right 89 degrees
<br />49' 08" and running easterly, a distance of Nine Hundred Forty Six (946.0)
<br />feet; thence deflecting right 90 degrees 10' 52" and running southerly,
<br />parallel with the west line of said North Half of the Northwest Quarter
<br />(N1 /2NW1 /4), a distance of Four Hundred Sixty One and Ninety Seven
<br />Hundredths (461.97) feet to a point on the south line of said North Half of
<br />the Northwest Quarter (N1 /2 NW1 /4); thence Westerly along and upon the south
<br />line of said North Half of the Northwest Quarter (N1 /2NW1 /4), a distance of
<br />Nine Hundred Forty Six (946.0) feet to the point of beginning, Excepting a
<br />certain tract therefrom as recorded in Joint Tenancy Warranty Deed as
<br />Document No. 96- 104343.
<br />which currently has the address of 3533 S Engleman.
<br />[Street]
<br />Grand Island Nebraska 68803 ( "Property Address "):
<br />[City] [Zip Code]
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the 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 Borrower is lawfully seised 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 warrants
<br />and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />NEBRASKA - single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 (page 2 of 9 pages)
<br />16585.LMG (11/00)
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