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20030094E LOAN 9: 2233876 (I) "Applicable Law "means all controlling applicable federal, stale 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. (.T) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer offends, other than a transaction originated by check draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account Such term includes, but is not limited to, poinbof -salt 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 compensation, settlement, award ofdamages, orproceeds paid by anythird 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 of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or Omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender 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 (if) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Rea) Estate Settlement 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 lime, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instmmcnl, °RF.SPA" refers m all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even ifthe Loan does trot 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 (hat party has assmncd Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender (1) the repaymentofthe Loan, and all renewals, extensions and modifications of the Note, and (ii) the performance of Borrower's covenants and agreements under this Security tnstnmimn and the Note- For this purpose, Borrower irrevocably grants and conveys to'frusleo, in trust, with power of sale, the following described property located in the COUNTY [I ,c of Recording lun.dlu6unl of Hall [Nan. fR.cindingAn,dictlong LOTS TWO (2) AND FOUR (4), BLOCK NINETEEN (19), UNIVERSITY PLACE, AN ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA which currently has the address of 2031 SHERIDAN AVE, Grand Island, [Sae] [city] Nebraska 68803 -1926 (`Property Address") [zip Codel TOGETHER WITH all the improvements now Or hereafter erected on the property, and all casements, appurtenances, and fixtures now or hereafter a part Of the property. All roplacmncnts and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the"Properly " BORROWER COVENANTS that Borrower is lawfully scizedof the estate hereby conveyed and has the rightto grant and convey the Property and that the Property is unencumbered, except far encumbrances of record. Borrower warrants and will defend generally the tide to the Properly against. all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for nztimml use and non- uniform, covenants with limited variations byjurisdiclion In conetihne 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 ESCrol1' 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 instrument received by Lender as payment under the Note or this Security Instmmcnl is returned to Lender unpaid, Lender 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 selectedby 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, instrumentality, 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 the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insuIDcicnt to bring the Loan current, without waiver ofany rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each 1Peeriol1dtiic NNRRASKA single Family— Fa nnie MaHFreddia Nlar IINIFORNIINSTRI1MkNT Initials: /�!u �I 1� Form 30281/01 Page 2 of 8 NEUDEED