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<br />200605480
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<br />(K) "Electronic Funds Transfer" means any transfer of fuods, other than a transaction originated by check, draft,
<br />or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or
<br />magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term
<br />includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by
<br />telephone, wire transfl,rs, and 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
<br />third party (other than insurance proceeds paid 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; (ili) conveyance in
<br />lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condHlon 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,
<br />plus (iI) any amounts under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procl,dufl'S Act (12 U.S,C, !:)2601 et seq.) and its implementing
<br />regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or
<br />successur legislation or regulation that governs the same subjecl matter. As used in this Security Instrument,
<br />"RESP A" refers to all requirements and restrictions that are Imposed in regard to a "federally related mortgage loan"
<br />even if the Loan does not qualll'y as a "f(,derally related mortgage loan" under RESPA,
<br />(Q) "Successor in Interest of BOl'l'ower" means any party that bas taken title to the Property, wbether or not tbat
<br />party has assumed Borrower's obligations under the Note and/or this Security Instrument.
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<br />TRANSFER OF RIGHTS IN THE PROPERTY
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<br />This Security Instrument secures to Lender: (I) the repayment of the Loan, and all renewals, extensions and
<br />modil1cations of the Note; and (iI) tbe performance of Borrower's covenants and agreements under this Security
<br />Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power
<br />of sale, tbe following described property located in the
<br />COUNTY of HALL
<br />[Type of Recording Jurisdiclion] [Na",e of RecoI1l1ng Jw'isdiclion]
<br />LOT ONE (1), IN BLOCK TEN (10), OF COLLEGE ADDITION TO WEST LAWN,
<br />IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
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<br />which currently has the address of 2334 N. LAFAYETTE: AVE.
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<br />[Slreel]
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<br />GRAND ISLAND
<br />[Cily]
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<br />, Nebraska
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<br />68803
<br />[Zip COde]
<br />
<br />("Property Address"):
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<br />TOGETHER WIT/-I all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as (he "Property."
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<br />BORROWER COVENANTS that Borrower Is lawfully seised of the estate bereby conveyed and has the right
<br />to grant and convey the Property and Ihat the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any
<br />encumbrances of record.
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<br />TI.IIS SECURITY INSTRUMENT combines uniform covenants for national use and non"uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform sl,curily instrument covering real property.
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment ofPrinclpal, mlerest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall
<br />pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late
<br />charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due
<br />under the Note and this Security Instrument shall be made In U.S. currency. However, if any check or other
<br />instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,
<br />Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in
<br />One or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check,
<br />treasurer's check or cashier's check, provided any such check Is drawn upon an Institution whose deposits are insured
<br />by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
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<br />NEBRASKA--Single Family..Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Form 3028 1/01 Page 2 of 11
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