200211266 - Laserfiche WebLink

Browse

20021126E LOAN #: 628340263 (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative roles and orders (that have the effect of law) as well as all applicable final, non - appealable judicial opinions- (.) "Community Association Dues, Fees, and Assessments" means all does, fees, assessments and other charges thalare imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (Iq "Electronic Funds Transfer" means any transfer offends, 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 lo, point -of -Sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award ofdanages, or proceeds paid by mry third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destnlctien of, the Property, (in) condemnation or other taking of all or any part ofthe Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or emissions as to, the value mid/or condition ofthe Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (t) principal and interest under the Note, plus (u) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (I2 U.S.C. §2601 et seq.) mid its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security instrument, RESPA" refers to all requirements and restrictions that are imposed in regard to a " federal ly related mortgage loan" even ifthe Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest ot` Borrower" means anypartythat has taken title to lhcProperty, whether or natthat parry has assumed Borrowers obligations under the Note and/or this Security Instmment. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment ofthe Loan, and all renewals, extensions and modifications of the Note'. and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose. Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property, located in the COUNTY [Type of Recording Jurisdiction] Of HALL IN. of Recording Juriedidiou l: SEE LEGAL DESCRIPTION ATTACHED HERETO AND HADE A PART HEREOF. which currently has the address of 639 E ASHTON, GRAND ISLAND, lsmecq IGbq Nebraska 68801 PM( ( "Property Address "): [Zi0 Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all casements, appurtenances, and fixtures now or hereafter a part ofthe properly. All replacements and additions shall also be covered by this Security Instrument All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seized ofthe estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances ofrecord. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.. THIS SECURITY INSTRUMENT combines uniform covenants for national use and nonuniform covenants with limited variations byprisdiclion to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more ofthe following forms, as selected by Lender (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments me insufficient to bring the Loan current Lender may accept any payment or partial payment insufficient tobringtheLoan current, without waiver ofanyrights hereunder orprejudice to its rights to refuse suchpayment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. if each Periodic NEBRASKA- Sir&family-- tr81u0e M.i Freddie Mac LNIFORyI INSTRUNTENT Initials: bk#t Form 30281/01 Page 2 of 8 NEUDEED