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t1 (� <br />� S <br />ZIII X <br />Z � 2 <br />O <br />I I I i It <br />MMMMMA&M <br />[Space Above This Line For Recording Data] <br />DEED OF TRUST <br />DEFINITIONS <br />Words used in multiple sections ofthis document are defined below and other words are defined in Sections 3, 11, 13, 18,20 <br />and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. <br />(A) "Security Instrument" means this document, which is dated November 26th 2002 ,togetherwith <br />all Riders to this document <br />(B) `Borrower' is Randall J Phipps and Dorothy E Phipps as husband and wife <br />Borrower is the trustor under this Security Instrument. <br />(C) "Lender' is United Nebraska Bank . Lender <br />is a Corporation organized and existing under the laws of the State of Nebraska <br />Lender's address is 700 North Webb Road Grand Island, NE 68803 <br />Lender is the beneficiary under this Security Instr mrs nt. <br />(D) "Trustee" isUnited Nebraska Bank 700 North Webb Road Grand Island, NE 68803 <br />(E) "Note" means the promissory note signed by Borrower and dated November 26th 2002 . The Note <br />states that Borrower owes Lender Forty Seven Thousand Five Hundred d 00 /100 <br />Dollars (U.S. $47,500.00 ) plus interest. Borrower has promised <br />to pay this debt in regular Periodic Payments and to pay the debt in full not later than December 1 2017 <br />(F) "Property" means the property that is described below under the heading `"transfer of Rights in the Property." <br />(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the <br />Note, and all sums due under this Security Instrument, plus interest. <br />(II) "Riders" means all Riders in this Security Instrument that are executed by Borrower. The following Riders are to he <br />executed by Borrower [check box as applicable]: <br />❑ <br />Adjustable Rate Rider <br />° <br />ncn <br />rT <br />Balloon Rider <br />❑ <br />Planned Unit Development Rider <br />❑ <br />1- 41'amily Rider <br />❑ <br />Biweekly Payment Rider <br />c n <br />n <br />m <br />r n <br />N "h <br />° <br />Z3 <br />� <br />N <br />w <br />+ <br />ar <br />200213235 <br />IN . <br />Words used in multiple sections ofthis document are defined below and other words are defined in Sections 3, 11, 13, 18,20 <br />and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. <br />(A) "Security Instrument" means this document, which is dated November 26th 2002 ,togetherwith <br />all Riders to this document <br />(B) `Borrower' is Randall J Phipps and Dorothy E Phipps as husband and wife <br />Borrower is the trustor under this Security Instrument. <br />(C) "Lender' is United Nebraska Bank . Lender <br />is a Corporation organized and existing under the laws of the State of Nebraska <br />Lender's address is 700 North Webb Road Grand Island, NE 68803 <br />Lender is the beneficiary under this Security Instr mrs nt. <br />(D) "Trustee" isUnited Nebraska Bank 700 North Webb Road Grand Island, NE 68803 <br />(E) "Note" means the promissory note signed by Borrower and dated November 26th 2002 . The Note <br />states that Borrower owes Lender Forty Seven Thousand Five Hundred d 00 /100 <br />Dollars (U.S. $47,500.00 ) plus interest. Borrower has promised <br />to pay this debt in regular Periodic Payments and to pay the debt in full not later than December 1 2017 <br />(F) "Property" means the property that is described below under the heading `"transfer of Rights in the Property." <br />(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the <br />Note, and all sums due under this Security Instrument, plus interest. <br />(II) "Riders" means all Riders in this Security Instrument that are executed by Borrower. The following Riders are to he <br />executed by Borrower [check box as applicable]: <br />❑ <br />Adjustable Rate Rider <br />❑ <br />Condominium Rider <br />❑ <br />Balloon Rider <br />❑ <br />Planned Unit Development Rider <br />❑ <br />1- 41'amily Rider <br />❑ <br />Biweekly Payment Rider <br />❑ Second Home Rider <br />❑ Other(s) [specify] <br />(t) "Applicable Law' means all controlling applicable federal, state and local statutes, regulations, ordinances and <br />administrative rules and orders (that have the effect of law) as well as all applicable final, non- appealablejudicial opinions. <br />(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and othercharges that are <br />imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. <br />(K) `Electronic Funds Transfer' means any transfer of funds, other than a transaction originated by check, draft, or <br />similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or m igne is tape <br />so as to order, instruct, or authorize a financial institution to debit or account Such term includes, hairs not limited <br />to, point -of -sale transfers, summated teller machine transactions, transfers initiated by telephone, wire transfers, and <br />automated clearinghouse 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, or proceeds paid by any third <br />party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, <br />the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or <br />(iv) misrepresentations 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 (ii) <br />any amounts under Section 3 of this Security Instrument. <br />(P) `EESPA" means the Real Estate Settlement Procedures Act (t2 U.S.C. §2601 et seq.) and its implementing regulation, <br />Regulation X (24 C.P.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation <br />NEBRASKA Seri& Fsraly— FannieMae/Preddie M.cIMFORMINSTRUMENT Form 3028 1 /01 (pageI fspnyeO <br />io54CVri02) 1618040 <br />