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<br />200603638'
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<br />(K) "Community AssoclaUon Does, Fees, and Assessments" means all dues, f~s, assessments and other charges
<br />that are imposed on Borrower or the Property by a condomlniUlll association, homeowners association or similar
<br />.organization.
<br />(L) "Electronic Funds Tramfer" means any tranlIfer of funds, other than a transaction originated by check, draft,
<br />or similar paper instrument, which is initiated through an electronic tennlnal, telephonic instrument, computer, or
<br />magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such teM
<br />'includes, but is not limited to, pohll-of-sale transfers, automated leller machine transactions, transfers initialed by
<br />telephone, wire lrallSfers, and automated clearinghouse transfers.
<br />(M) "Escrow Items" means those items thai are deseribed in Section 3.
<br />(N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any
<br />third party (other than insurance proceeds pald under the coverages described in Section 5) for; (I) damage to, or
<br />destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in
<br />lieu of condemnation; or (iv) J!liSrepresentations of, or omissions as to, the value and/or condition of the Property,
<br />(0) "MortpgB Insuranee" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(P) "Periodic Payment" means the regularly scheduled amount due for (i) principal and Interest under the Note,
<br />plus (ii) any amounts under Section 3 of this Securlty InstrUment.
<br />(Q) "RESPA" means the Real Estate Settlement Procedures ACt (12 U.S,C. f2601 et seq.) and its implementing
<br />regulation, Regulation X (24 C.F.R. Part 3500), as they inight be amended from time to. time, or any additional or
<br />successor legislation or regulation that governs the same subject matter. As used in this Security Instrument,
<br />"RBSP A " refers to all requirements and restrlctlons that are imposed in regard to. a "federally related mortgage loan"
<br />even if !he 1oso does IlOt qnalify as a "federally related mortgage loan" under RESPA.
<br />(R) "Success!lr in Interest of Borrower" means any party that has taken title to the Property, whether or not !hat
<br />party h!lS assumed Bnrrower's obligations under the Note and/or this Security Instrument.
<br />
<br />TRANSFER OF RIGHTS IN THE PROPERlY
<br />
<br />The beneficiary of this Security Instrument Is MBRS (solely as nominee for Lender and Lender's successOIS and
<br />assigns) l!l1d the successors and assigns of MERS. This Security 1nstrumentsecures to Lender; (i) the repayment of
<br />the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's
<br />covenants and agreements under this Security Instrument and the Note. For this purpose. Borrowerirrevocably grants
<br />and conveys to TruSlee, in trust, with power of sale, the following described property located in the
<br />COUNTY of HALL
<br />lTYPe of ll.c<mdlng 1urildh:Il<>ll1 [Name or Rccordin: 1urisdietionJ
<br />LOT THIRTEEN (13) IN BLOCK ONE (1), CUNNINGHAM SUBDIVISION TO THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA AND ALL THAT PART OF
<br />THE VACATED ALLEY BY ORDINANCE NO. 6621 WHICH IS THE SOUTHERLY
<br />SIX (6) FEET AB~TING AND ADJACENT TO LOT THIRTEEN (13), B~OCK
<br />ONE (1) IF CUNNINGHAM SUBDIVISION, CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA. .
<br />A.P.N. #: 40003~850
<br />
<br />whlch currently has the address of 2322 W 13TH
<br />
<br />ISlrOCl1
<br />
<br />("property Address");
<br />
<br />GRAND ISLAND
<br />[City)
<br />
<br />, Nebraska
<br />
<br />68803
<br />[Zip Code]
<br />
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, sod fixtures now or hereafter a part of the property. All replacements and a4ditiollS shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Sewrity Instrument as the "Property. .
<br />Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security
<br />Instrument, but, if ~sary to comply with law or custom, MERS (as nominee for Lender and Lender's successors
<br />and assigns) has the right; to exercise any or all of.toose interesl1l, including, but not limited to, .the right to foreclose
<br />and sell the Property; and to take any action required of Lender including, but IlOllimited to, releasing and canceling
<br />this sCCUlity Instrument. -
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to grant and convey the Property and that the Property is unencurobered, except for encumbrances of record.
<br />Borrower warran!.ll an" will defend generally tI,1e titl~ 10 the Property against ail claims and demands, subject to any
<br />encumbrances of record,
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniformcovenants with
<br />limIted variations by jurisdiction to constitUte a uniform security instrument covering real property.
<br />
<br />'NEBRASKA-Single FlImlly-Fannle Mae/Freddie MaD UNIFORM INSTRUMENT. MERS
<br />Form 3028 1/01 Pege 2 of 10
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<br />. www.docmlJgic.com
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