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<br />200609386
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<br />(K) "Electronic Funds Transfer" means any transfer of funds, 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 transfers, and automated clearinghouse transfers.
<br />(L) "Escrow Itelllli" 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; (Iii) conveyance In
<br />lieu of condemnation; or (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.
<br />plus (ii) any amounts under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. !i2601 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 />successor legislation or regulation that governs the same subject mailer. As used in this Security Instrument,
<br />"RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan"
<br />even ifthe Loan does not quallry as a "federally related 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
<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
<br />
<br />This Security Instrument secures to Lender: (I) the repayment of the Loan, and all renewals. extensions and
<br />modifications of the Note; and (il) the 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, the following described property located in the
<br />COUNTY of HALL
<br />[Type of Recording lurl.dlctioo] [Name of Recording lori.dlctioo]
<br />LOT TWELVE (12), IN BLOCK FIVE (5) OF KOEHLER PLACE, AN ADDITION
<br />TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />A.P.N.: 400055120
<br />
<br />which currently has the address of 243 SOUTH VINE
<br />
<br />[Street]
<br />
<br />GRAND ISLAND
<br />[City]
<br />
<br />. Nebraska
<br />
<br />68801
<br />(Zip Code]
<br />
<br />("Property Address"):
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<br />TOGETHER WITH 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 the "Property."
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<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 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.
<br />
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering real property.
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Itelllli, 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 />NEBRASKAnSlngle Family'-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />form 3028 1/01 Page 2 of 11
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<br />Do<;:M.gir; eJR_ 8()()'649-1362
<br />www.docmllgic.com
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