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201907019
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
<br />administrative rules and orders (that have the effect of law) as well as all applicable final, non -appealable judicial
<br />opinions.
<br />(K) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that
<br />are imposed on Borrower or the Property by a condominium association, homeowners association or similar
<br />organization.
<br />(L) "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
<br />tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is
<br />not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire
<br />transfers, and automated clearinghouse transfers.
<br />(M) "Escrow Items" means those items that are described in Section 3.
<br />(N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third
<br />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
<br />condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(P) "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 />(Q) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its implementing
<br />regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from time to time, or any additional or
<br />successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA"
<br />refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the
<br />Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party
<br />has assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's successors and assigns)
<br />and the successors and assigns of MERS. This Security Instrument secures to Lender: (i) the repayment of the Loan,
<br />and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and
<br />agreements under 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 />Real Property tax identification number is 400227622.
<br />Lot One (1), J & S Riley Subdivision, Hall County, Nebraska
<br />which currently has the address of 12500 South Bluff Center Road, Wood River, Nebraska 68883 ("Property
<br />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 shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
<br />Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security
<br />Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and
<br />assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and
<br />sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this
<br />Security Instrument.
<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
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to any
<br />encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering 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 Charges. Borrower shall pay
<br />when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late
<br />charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due
<br />under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument
<br />received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may
<br />NEBRASKA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 302 / 1
<br />Page 2 of 10 Initiate :_
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