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2A210017;q
<br />LOAN #: 3535034794
<br />(D) "Trustee" is Security First Bank, a Commercial Bank.
<br />(E) "MERS" Is Mortgage Electronic Registration Systems, Inc. MERS Is a separate corporation that Is
<br />acting solely as a nominee for Lender and Lender's successors and assigns. MERS Is the beneficiary
<br />under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has
<br />an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.
<br />(F) "Note" means the promissory note signed by Borrower and dated December 30, 2020.
<br />The Note states that Borrower owes Lender ONE HUNDREDTHIRTY FIVE THOUSAND AND
<br />NO/100
<br />Dollars
<br />(U.S. $135,000.00 ) plus interest. Borrower has promised to pay this debt In regular Periodic
<br />Payments and to pay the debt in full not later than January 1, 2036.
<br />(G) "Property" means the property that Is described below under the heading "Transfer of Rights In
<br />the Property."
<br />(H) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late
<br />charges due under the Note, and all sums due under this Security Instrument, plus interest.
<br />(I) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
<br />Riders are to be executed by Borrower [check box as applicable]:
<br />❑ Adjustable Rate Rider El Condominium Rider ❑ SecondHomeRider
<br />❑ Balloon Rider El Planned Unit Development Rider ❑ Other(s) [specify]
<br />❑ 1-4 Family Rider ❑ Biweekly Payment Rider
<br />0 V.A. Rider
<br />(J) "Applicable Law" means aN 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 />(K) "Community Association Dues,Fees, and Assessments" means all dues, fees, assessments and
<br />other charges that are Imposed on Borrower or the Property by a condominium assodation, homeowners
<br />association or similar organization.
<br />(L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by
<br />check, draft, or similar paper instrument, which Is initiated through an electronic terminal, telephonic
<br />Instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit
<br />or credit an account. Such term includes, but Is not limited to, point-of-sale transfers, automated teller
<br />machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse
<br />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
<br />paid by any third party (other than insurance proceeds paid under the coverages described In Section
<br />5) for: (I) damage to, or destruction of, the Property; (II) condemnation or other taking of all or any part
<br />of the Property; (ill) conveyance In lieu of condemnation; or (Iv) misrepresentations of, or omissions as
<br />to, the value and/or condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default
<br />on, the Loan.
<br />(P) "Periodic Payment" means the regularly scheduled amount due for (I) principal and Interest under
<br />the Note, plus (Ii) 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
<br />Implementing regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from time to
<br />time, or any additional or successor legislation or regulation that govems the same subject matter. As
<br />used In this Security Instrument, 'RESPA" refers to all requirements and restrictions that are Imposed
<br />In regard to a "federally related mortgage loan' even if the Loan does not qualify as a "federally related
<br />mortgage loan' under RESPA.
<br />(R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether
<br />or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />The benefldary of this Security Instrument Is MERS (solely as nominee for Lender and Lender's
<br />successors and assigns) and the successors and assigns of MERS. This Security Instrument secures
<br />to Lender: (I) the repayment of the Loan, and all renewals, extensions and modifications of the Note;
<br />and (II) the performance of Borrower's covenants and agreements under this Security Instrument and
<br />the Note. For this purpose, Borrower Irrevocably grants and conveys to Trustee, In trust, with power of
<br />NEBRASKA --Single Famlly—Fannle MaelFreddle Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />Ellie Mao, Inc. Page 2 of 11
<br />NEEDEED 0316
<br />NEEDEED (CLS)
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