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200301776 LOAN #: 2234308 (O "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances andadministrative rules and orders (that have the effect of low) as well as all applicable final, non - appealable judicial opinions_ (.n "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges instate imposed on Borrower or the Property by a condominium association, homeowners association or similar organization_ (K) "Electronic Funds Transfer" meansany transfer of funds, other than atransaction originatcdby check, draft, or similarpaper ins(nunent, 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, point-of -sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrowitems" means those items (hat are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, orprocceds paidby any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (it) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu ofcondemnation, or (iv) misrepresentations or, 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 (ii) any amounts under Section 3 of this Security fila nIHICIA (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 el scq I 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 Instrument, °RESPA" refers to all requirements and restrictions that are imposed in regard ton "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) `Successor in Interest of Borrower" nicans any party that hastaken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RWH'I S IN THE PROPERTY This Security Instrument secures to Lender (i) the repay mentof the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and 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 [Typoof Rewrdinglurisdicccrl Of Hall [Fame of Recording Jurodimienl'. LOT TWELVE (12) IN BLOCK FOUR (4) IN MORRIS 2ND ADDITION TO THE CITY OF G ARM D ISLAND, HALL COUNTY, NEBRASKA which currently has the address of 204 East 17th St, Grand Island, [sisal k=inyl Nebraska 68801 -2540 ( Property Address "): Iziv Cndel TOULTHER WITII all the improvements now or hereafter erected an the property, and all easements, appurtenances, and fixtures now or hereafter apart of Ibe 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 ofthe estate hereby conveyed and hasthe rightto grant and convey the Property and that the Property is unencumbered, exceptfor encumbrances ofrecord. Borrower warrants and will defend generally the title to the Properly 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 instmmcnt 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 No(c and any prepayment charges and late charges due under the Note. Borrower shall also pay fonds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instmmcnt shall be made in U.S. currency. However, if any check or other MarTUInent received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require (hot any or all subsequent payments due under the Note and this Security Instrument be made in one or more ofthe following forms, as selected by Lender', (a) cash; (b) money order, (c) certified check, bank check, treasurer's check or cashier's cheek, 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 Lcader 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 arc insufficient to bring the Loan current, Lender may accept any payment or partial payment insufficient to bring the Loan currant, without waiver ofany rights hereunder orprejudice to its rights to rcfusosuch paynucntor partial payments in the future, but Lcodcr is not obligated to apply such payments at the time such payments are accepted. Ifeach Periodic NEIMAS" SingluFamily FannieM aHFreddieNee UNIFORM INS 'FRCMER'I Initials: �. Fnrn, 3a2a 1101 Page 2 of 8 vECUeEa