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200302645 (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 terminal, telephone instrument, computer, or magnetic tape so as to order, instruct, or authorise a financial Institution to debit or credit an account. Such term includes, but is not limited to, point -cf -sale transfers, automated teller machine transactions, transfers Initiated by telephone, wxe 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 of damages. 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 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 Payrllent" 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 Settlement Procedures Act (12 U.S.C. 52601 at seq.) and its implementing regulation, Regulation X (24 O.F.R. Pad 3500), as they might be amended from time to time, or any additlonal 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 to a "federally related mortgage loan" even if the Loan does not quality as a "federally related mortgage loan" under RESPA. (0) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borower's obligations under the Note anchor this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of 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 of _ HALL (Type of Recording Juristletlon] [Name of Recording Jurisdiction] LOT EIGHT (8), IN BLOCK FOUR (6), ASHTON PLACE ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA. which cumently has the address of 2311 WEST KOENIG STREET [Street] GRAND ISLAND Nebraska 68803 ( "Property Address^): [City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fbaures now or hereafter a pan of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is refemed to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the 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. NEBRASKA - single Family- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 11 A eve o1 c vavacl Frans, V.pvm 0 else