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200306804 (C) "Lender" is Home Federal Savings and Loan Assn of Grand Island Lender is a Savings and Loan organised and existing under the laws of The State of Nebraska Lender's address is 221 South Locust St Grand Island NE 68801 - Lender is the beneficiary under this Security Instrument. (D) "Trustee" is Arend R Haack, Attorney (E) "Note" means the promissory note signed by Borrower and dated May 23rd, 2003 The Note states that Borrower owes Lender FIFTY SEVEN THOUSAND AND 00 /100 Dollars (U.S. $57,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than June 1, 2010 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (A) "Riders" mcans all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Bormwcr [check box as applicable]: Adjustable Rate Rider Condominium Rider C Second Home Rider Balloon Rider Planned Unit Development Rider 1 _. l -4 Family Rider VA Rider Biweekly Payment Rider -, Other(s) [specify] (B "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. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a con lfflum uni association, homeowners as .,ncialion or similar organization. (K) "Electronic Funds Transfer" mcans any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic malcontent, computer, or magnetic tape so as to order, tns[mct, or authorize a financial institution to debit or credit an acunmt. Such term includes, but is not limited w, pointof -sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, avid automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" mean., any uompcnsation, 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; (it) condemnation or other taking of all or any part of the Property; (tilt conveyance to lieu of condemnation; or (iv) misrepresentations of, or omissions as t0, the value and /or condition of the Property. (N) "Mortgage Insurance" mcans insurance protecting Lender against the nonpayment of, or detaulr on, the Loan. (Q-6flW wile 11 P,2 )n6 Form 3028 1101