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200207922
<br />(C) "Lender "is Home Federal Savings and Loan Assn of Grand Island
<br />Lender is a Savings and Loan
<br />organized and existing under the laws of The State of Nebraska
<br />Lender's address is 221 South Locust St Grand Island WE 68801 -
<br />Lender is the beneficiary under this Security Instrument.
<br />(D) "Trustee" is Arend R Haack, Attorney
<br />(E) "Note" mean, the promissory note signed by Borrower mud dated SUly 29th, 2002
<br />The Note states that Borrower owes Lender TWO HONORED FIFTY TWO THOUSAND AND
<br />00 /100 Dollars
<br />(U.S. $252,000.00 ) 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, 2003
<br />(P) "Property" means the property that is described below under the heading '"transfer of Rights in the
<br />Property."
<br />(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charge, and late charge,
<br />due under the Note, and all sums due under this Security Instrument, plus interest.
<br />(11) "Riders" mran, all Riders to this Security Instrument that are executed by Borrower. The following
<br />Riders are to be executed by Borrower [check box as applicable]:
<br />Adjustable Rate Rider C Condominium Rider <] Second Home Rider
<br />Balloon Rider L Planned Unit Development Rider n 1-4 Family Rider
<br />VA Rider F—, Biweekly Payment Rider U Other(s) [specify]
<br />(1) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative rules and orders (that have the effect of law,) as well as all applicable final,
<br />nun- appealablejudicial opinions.
<br />(J) "Community Association Does, Fees, and Assessments" morns all dues, fees, assessments and other
<br />charges that are imposed on Borrower or the Property by a condominium association, homeowners
<br />association or similar organization.
<br />(K) "Electronic Rinds Transfer" means any transfer of funds, other than a transaction originated by
<br />check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic
<br />instrument, computer, or magnetic 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 transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse
<br />transfers.
<br />(L) "Escrow Items" means those items that are described in Section 3.
<br />(M) "Miscellaneous Proceeds" means any compensation, settlement, award nl damages, or pn.read, paid
<br />by my third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
<br />damage lo, or destruction of, the Property; fill condenmation or other taking of all or any pan of the
<br />Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, We
<br />value and /or condition of the Property.
<br />(N) "Mortgage insurance" means insurance protecting Lender against the nonpayment of, or default on,
<br />the Loan.
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