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200205440 (C) "Lender "is EQUITABLE FEDERAL SAVINGS BANK OF GRAND ISLAND Lender is a Savings Bank organized and existing under the laws of THE STATE OF NEBRASKA Lendn''suddressis 113115 N LOCUST ST PO BOX 160 GRAND ISLAND NE 68802 -0160 Lender is the beneficiary under this Security Instrument (D)'Trustee "is EARL D AHLSCHWEDE, ATTORNEY (E) "Note" means the promissory note signed by Borrower and dated May 17th. 2002 The Note states that Borrower owes Lender SEVENTY SIX THOUSAND AND 00 /100 Dollua (U.S. S76.000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments mid to pay the debt in fill not later than June 1 . 2032 (P) "Property" mearrs 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 Instrtment, plus interest. (HO 'Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: Adjustable Rate Rider El Condominium Rider E-1 Second Home Rider LJ Balloon Rider E Planned Unit Development Rider E:1 IA Family Rider VA Rider 71 Biweekly Payment Rider II Other(s) [specify] (1) "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. O "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) Tlectronic 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, 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 natchine transactions, nanefcrs initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Fscrnw Items" means those items that are described in Section 3. (M) ".Niscellanenus 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: (1) 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. (IN) "Mortgage Insurance" means insurance protecting Leader against the nonpayment of, or default nn, the Loan. �R V/ 229136 40. uN EI (1111) Paanv "n a Farm 3028 1101 w