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(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
<br />final, non - appealable judicial opinions.
<br />(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments
<br />and other charges that are imposed on Borrower or the Property by a condominium association,
<br />homeowners association or similar organization.
<br />(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated
<br />by check, draft, or similar paper instrument, which is initiated through an electronic terminal,
<br />telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial
<br />institution to debit or credit an account. Such term includes, but is not limited to, point -of -sale
<br />transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and
<br />automated 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
<br />proceeds paid by any third party (other than insurance proceeds paid under the coverages described
<br />in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of
<br />all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations
<br />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
<br />default on, the Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest
<br />under 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. Section 2601 et
<br />seq.) and its implementing regulation, Regulation X (12 C.F.R. Part 1024), as they might be
<br />amended from time to time, or any additional or successor legislation or regulation that governs
<br />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
<br />not qualify as a "federally related mortgage loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property,
<br />whether or not that party has assumed Borrower's obligations under the Note and /or this Security
<br />Instrument.
<br />Transfer of Rights in the Property. This Security Instrument secures to Lender: (i) the repayment
<br />of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of
<br />Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose,
<br />Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following
<br />described property located in the County [Type of Recording Jurisdiction] of Hall [Name of Recording
<br />/Jurisdiction] Lot 2, Block 4, Morris Second Addition to the City of Grand Island, Hall County,
<br />Nebraska
<br />Parcel ID Number: 400064200 which currently has the address of 315 E 18th Street [Street] Grand
<br />Island [City], Nebraska 68801 [Zip Code] ( "Property Address"):
<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
<br />shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security
<br />Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and
<br />has the right to grant and convey the Property and that the Property is unencumbered, except for
<br />encumbrances of record. Borrower warrants and will defend generally the title to the Property against
<br />all claims and demands, subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform
<br />covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property.
<br />Uniform Covenants. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late
<br />Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the
<br />Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds
<br />for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument
<br />shall be made in U.S. currency. However, if any check or other instrument received by Lender as
<br />V01.1.1.17169
<br />NEBRASKA - Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT
<br />Bankers Systems'. VMP®
<br />Wolters Kluwer Financial Services 18.2.0.1920- J20180711 N
<br />2018061
<br />Form 3028 1/01
<br />07/2018
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