|
20021128,0 LOAN B: 626732058
<br />(1) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances andadministrative
<br />roles and orders (that have the effect of taw) as well as all applicable final, non - appealable judicial opinions.
<br />(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments andothercharges that are imposed
<br />on Borrower or the Property by a condominium association, homeowners association or similar organization.
<br />(IQ `Electronic Funds Transfer" means any transferoffunds, other than a transaction originated by check, draft, or similarpaper
<br />instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order,
<br />instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale
<br />transfers, automated teller 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 of damages, orproceeds paid by any third party (other
<br />than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (it)
<br />condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations
<br />of, or omissions as to, the value and/or condition of the Property.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (it) any
<br />amounts under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation,
<br />Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or
<br />regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and
<br />restrictions that are imposed in regard to a "federally related mortgage loan" even ifthe Loan does not qualify as a "federally related
<br />mortgage loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed
<br />Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />This Security instrument secures to Lender: (i) the repayment ofthe Loan, and all renewals, extensions and modifications of the Note;
<br />and (it) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose,
<br />Borrower irrevocably grants and conveys to Trustee, in last, with power of sale, the following described property located in the
<br />COUNTY [type ofRecordmg luncdirion] Of HALL [Name of Recording Jurisdiction]:
<br />SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF.
<br />THE EASTERLY 17 FEET OF LOT 19, AND ALL OF LOT 20, IN BLOCK 5, IN
<br />ASHTON PLACE, AN ADDITITON TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA.
<br />which currently has the address of 2216 NEST LOUISE STREET, GRAND ISLAND,
<br />[Streeq [City]
<br />Nebraska 68803 ( "Property Address"):
<br />[Zip cwd ]
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
<br />fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All
<br />of the foregoing is referred to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey
<br />the Property and that the Property is unencumbered, exceptfrrencumbrances of record. Borrower warrants and will defend generally
<br />the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited
<br />variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow It ems, Prepayment Charges, and Late Charges. Borrower shall pay when due
<br />the principal of, and interest on, the debt evidenced by the Nate and any prepayment charges and late charges due under the Note.
<br />Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument
<br />shall be made in U. S. currency. However, if any check or other instrument received by Lender as payment under the Note or this
<br />Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and
<br />this Secartty Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified
<br />check, bank check, treasurer's check or cashier's cbeck, provided any such check is drawn upon an institution whose deposits are
<br />insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may
<br />be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment
<br />if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment
<br />insufficient to bring the Loan current, without waiver of any rights hereunder orprejudiceto its rights to refuse such payment or paunit
<br />payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic
<br />NEBRASKA — Single Family —Famde MadFreddk Mac UNIFORM INSTRUMENT Initials: � S
<br />F.. 30281/01 Page 2 of 8 NEU F.E
<br />
|