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200300647 LOAN 3: 2232578 (1) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non - appealable judicial opinions. (1) "Community Association Dues, Fees, and Assessments" means all does, fees, assessments and other charges thatare imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic levo final, Iclephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial inslitution to debit or credit an account. Such term includes, but is not limited to, point- of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensalioo, settlement., award ofdamages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for (i) damage to, or destruction of, the Property; (ii) condemnation or other taking ofall or any part of the Property, (iii) conveyance in lieu of condenmation, or (iv) misrepresentations of or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lendcr against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate ScRlcment Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instmment, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even ifthe Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instmment. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures tol,cridcr. (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note, and (ii) the performance of Borrower's covenants mid agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the COUNTY [T,,r ofRtxadm6 Jud,s a,oa]of Hall [Name of Re—ling funvtioon]I LOT FOUR (4), CAPITAL HEIGHTS SIXTH SUBDIVISION, HALL COUNTY, NEBRASKA which currently has the address of 4211 Texas Ave, Grand Island, [streel[Ciol NcbmAir 68803 -1008 (`Property Address "): IZip Codcl TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the `Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey I he Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property . UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instnmrcd received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Leader may require that any or all subsequent payments due under the Note and this Security Instmment be made in one or more of the following forms, as scleetedby Lender (a) cash; (b) money order, (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrunicmelity, or entity, or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if [lie payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient tnbringthe Loan current, withoutwaiver of any rights hereunder or prejudice to its rights to refuse such payment orpartial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic NEBRASKA — Single Pali- -Faun¢ Mae /Fuddle Mar UNIFORM INS'1'RU31EN, Initials. Fora, 30281/01 Page 2 of 8 NEUDEeD