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' 2� 1 ��3122
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<br /> Instrument. MERS is organized and exrsting under the laws of Delaware, and has an address and telephane number
<br /> of P.�. Box Z���, Flint, MI 485�1-2426, tel. �SSS} 579-MERS.
<br />� �F} r'Note"means�he promissory note signed by Borrower and dated N�AY 12, �❑15 .
<br /> The Note states that Borrower ovWes Lender SEVENTY-NINE THDUSAN� SEVEN HUNDRED F�RTY-TW�
<br /> AND D�/1�D Dollars�U.S. $ 7 9.7 4 2.�0 }
<br /> plus�nterest. Borrower has pramised to pay this debt in regular Periodic Payments and to pay the debt in full not later
<br /> than Jv1vE 1, �0 4 6 .
<br /> (G) "Property"means the property that is described below under the heading"Transfer of Rights in the Property."
<br /> (H) "Laan"means the debt evidenced by the Nate, pius interest, late charges due under the IVote, and all sums due
<br /> under this Security Instrument, plus �n�erest.
<br /> �I} '�id�rs"means aIl Riders�o this Securi�y Instrument that are executed by Borrower. The following Riders are
<br /> to be ex�cuted by Borrower [check box as appl�cable]:
<br /> � Adjustable Rate Rider � Planned Uni�De�elopment Rider
<br /> � Condominium R�der � �ther�s} [specify�
<br /> (J} "Applicable Law"means a11 cantrolling applicable federal, state and local statutes, regulations, ordinances and
<br /> administrative rules and arders �that ha�e the effect of law� as well as all appli�ab�e final, non-appealab�e judicial
<br /> opinions.
<br /> �K� r'Community Asso�iation Dues, Fees, and ASsessments"means a11 dues, fees, assessments and ather charges
<br /> �hat are imposed on Borrower or the Property by a �ondomrnium association, hameowners associatian or similar
<br />: organizatian.
<br /> �L} "Electronic Funds Transfer"means any transfer of funds, flther than a transactian originated by check, draft,
<br /> ar similar paper instrument, which is initiated through an eXectronic terminal, telephonic instrument, camputer, or
<br /> magne#ic�ape sv as to order, instruct, or authorize a financial institution to debit or credit an account. 5uch term
<br /> includes, but is not �imited�o, paint-of-sale.tran�fers, autamated teller machine transactions, transfers initiated by
<br /> �elephone, wire transfers, and automated clearinghouse transfers.
<br /> �M] "ES�row Items"means�hose items tha�are described in Se���on 3.
<br /> �N} '7.Vli�cel�aneaus Prace�ds"means any compensat�on, settlement, award of damages, or proceeds paid by any
<br /> third party �other �han insurance proceeds paid under the co�erages described in Section 5} for: �i} damage to, or
<br /> destructian of, the Property; �ii} condemna�ion ar other taking of all or any part of the Property; �iii� conveyance in
<br /> lieu af condemnation; or (i��misrepresentations of, or omissions as�o, the�alue andlor condition uf�he Property.
<br /> (U} "Martgage Insurance"means�nsurance protec�ing Lender against�he nonpayment of, or default on, �he Loan.
<br /> (P} "Periodic Payment"means the regularly schedu�ed amount due for �i}principal and interest under �the No�e,
<br /> plus �ii}any amounts under Section 3 of th�s Security Instrument.
<br /> ��� "RESPA"means the Rea1 Estate 5ettlem ent Pro�edures Act ��2 U.S.C. §25�1 et seq.� and its implementing
<br /> regulation, Regula�ion� �12 �.F.R. Part ��24}, as they might be amended fram time to time, or any addi�ional or
<br /> successor legis�ation or regula�ion�hat governs the same subject matter. As used in this Security�nstrument, "RESPA"
<br /> refers to a11 requirements and restrictrans tha�are imposed in regard ta a"federal�y related mortgage Iaan" even if the
<br /> Loan does nv�qualify as a "federally related mortgage laan" under RESFA.
<br /> (R} "SeGretary"means the 5ecre�ary of the United States Department of Housing and Urban Development or his
<br /> des�gnee.
<br /> �S} "SucceSsor in Interest of Barrower�'means any party that has taken titie to the Fraperty, vwhe�her or not that
<br />; party has assumed Barrower's obl�gations under the Note andlar this Security Instrument.
<br />� NEBRASKA FHA DEE� �F TRUST- MERS �������� �
<br /> N EDaTZZ.FHA 091141�5 Pag e 2 of 13 www,do�magic.corn
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