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<br />200700043
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<br />v3 WBCD LOAN # 501305178
<br />(G) "Property" means the property that is described below under the heading ''Transfer of Rights in the Property."
<br />(H) "loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under
<br />the Note, and all sums due under this Security Instrument, plus interest.
<br />(I) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be
<br />executed by Borrower [check box as~licable]:
<br />D Adjustable Rate Rider ~- J Condominium Rider D Second Home Rider
<br />D Balloon Rider D Planned Unit Development Rider D Other(s) [specify]
<br />D 1-4 Family Rider D Biweekly Payment Rider
<br />D VA Rider
<br />
<br />(J) "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-appealable judicial opinions.
<br />(K) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges
<br />that are imposed on Borrower or the Property by a condominium association, homeowners association or similar
<br />organization.
<br />(l) "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 magnetic
<br />tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is
<br />not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire
<br />transfers, and automated clearinghouse transfers.
<br />(M) "Escrow Items" means those items that are described 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 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 lieu
<br />of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
<br />(0) "Mortgage Insurance" 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, plus
<br />(ii) any amounts under Section 3 of this Security Instrument.
<br />(0) "RESPA" means the Real Estate Settlement Procedures 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 />successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA"
<br />refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the
<br />Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(R) "Successor In Interest of Borrower" means any party that has taken title to the Property, whether or not that party
<br />has assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's successors and assigns)
<br />and the successors and assigns of MERS. This Security Instrument secures to Lender: (i) the repayment of the Loan, and
<br />all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements
<br />under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust,
<br />with power of sale, the following described property located in the COUNTY
<br />IType of Recording Jurisdiction] of HALL [Name of Recording Jurisdiction]:
<br />The Easterly 27.3 feet of Lot Three(3), Block Eighteen (18), in H.G. Clark's Addition
<br />to the City of Grand Island, Hall County, Nebraska
<br />APN #s 400031140
<br />
<br />which currently has the address of 611 WEST 7TH STREET, GRAND ISLAND,
<br />
<br />Nebraska
<br />
<br />68801
<br />[Zip Code]
<br />
<br />("Property Address"):
<br />
<br />[Street] [City]
<br />
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,
<br />and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security
<br />Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and
<br />agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary
<br />to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to
<br />exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take
<br />any action required of Lender including, but not limited to, releasing and canceling this Security Instrument.
<br />
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant
<br />and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrowerwarrants
<br />and will defend generally the title to the Property against all claims and demands, subjectto any encumbrances of record.
<br />
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />@ 1999-2004 Online Documents, Inc. Page 2 of 9
<br />
<br />Initialss ~ L?
<br />NEEDEED 0402
<br />12-28-2006 15s52
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