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200305727
<br />(C) "Lender" is Union Bank and Trust Company
<br />Lender is a Commercial Bank
<br />organized and existing under the laws of the State of Nebraska
<br />Lender's address is PO Be. 82535 Lincoln HE 68501 -2535
<br />(D) 'Trustee" is Union Bank and Trust Company
<br />(E) "MFRS" is Morlgaae Electronic Registration Systems, Inc. MERS is a separate corporation that is
<br />acting solely as a nominee for Lender and Lender's successors mid assigns. MERS is the beneficiary
<br />under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an
<br />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 April 28th, 2003
<br />The Note stales that Borrower owes Lender SEVENTY THOUSAND FIVE HUNDRED AND
<br />00/100 Dollars
<br />(U.S. $ 70,500. 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 May 1, 2033
<br />(G) "Property" means the property that k described below under the heading "Transfer of Rights in the
<br />Property."
<br />(H) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
<br />due under the Note, and till ruins due under this Security Instrument, plus interest.
<br />(1) "Riders" means in Riders to this Security Instrument that are executed by Borrower. The following
<br />Riders in e to be executed by Burrower (check box as applicable]:
<br />❑ Adjustable Ratc Rider �_ Condominium Rider L:1 Second Home Rider
<br />Balloon Kider Planned Unit Development Rider El 1 -4 Family Rider
<br />VA Rider ' Biweekly Payment Rider L-1 Other(s) [specify]
<br />(J) "Applicable Law" means all amlrolling applicable federal, stale and local statutes, regulations,
<br />ordinances and administtetive rules and orders (that have the effect of law) as well as all applicable final,
<br />non- appealiblcjudicial npioiuns.
<br />(K) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other
<br />charges that me iniposed on Borrower or the Property by a condominium association, homeowners
<br />association or similar a'gunizntiou.
<br />(1.) "Electronic Funds 'I tansfer" incurs any transfer of Ponds, other than a transaction originated by
<br />check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic
<br />instrument, computer, nr muguctic 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 transnctiim , transfers initiated by Iclephune, 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 paid
<br />by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
<br />damage to, or destruction of. the Property, (ii) concentration or other taking of all or any part of the
<br />Property; (iii) conveyance in lieu of condemnation, er (iv) misrepresentations of, or omissions as to, the
<br />value and /or condition oflhc Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
<br />the Loan.
<br />03 -02- 000094
<br />(Z- BAINEI,,,,Li u, Fs,, c II For. 3028 1101
<br />W.
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