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<br />200701363
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<br />OJ "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
<br />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,
<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 />telephooe, wire 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: (i1) condemnation or other taking of all or any part of the Property; (ili) conveyance in
<br />lieu of condllmnation; Or (iv) misrepresentations of, or omissions as to, the value and/or condilion of the Propllrty.
<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 ioterest under the Note.
<br />plus (i1) any anlounts under Section 3 of this Security Instrument.
<br />(Q) "RESPA" means the Real Estate Settlement Procedures Act (12 V.S.C. S2601 et seq.) and its implementing
<br />regulation, Regulatioo X (21 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,
<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 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
<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 />The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's successors and
<br />assigns) and the successors and assigns of MERS, This Security Instrument secures to Lender: (i) the repayment of
<br />the Loan, and all renewals, exteosions and modifications of the Note; and (i1) the performance of Borrower's
<br />covenaots and agreements under this Securily Instrument and the Note. For this purpose, Borrower irrevocably grants
<br />and conveys to Trustee. in trust. with power of sale, the following described property located in the
<br />COUNTY ~ HALL
<br />[Type of Recording Jllrisdiclion] [NaIlle uf Recording Jurisdicliun]
<br />
<br />lOT 'IW) (2), IEEANI' ffiDIVISIGJ IN TIE O'IY CF ffiZ\ND rsu:ffi, Hl\lL CUNIY, l'HPAC}A
<br />A.P.N.: 400059916
<br />
<br />which currently has the address of
<br />
<br />2720 NORTH WEBB ROAD
<br />IStreetl
<br />
<br />GRAND ISLAND
<br />[Cityl
<br />
<br />, Nebraska
<br />
<br />EBB03-1342 (" Property Address ") :
<br />[Zip Code]
<br />
<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 he
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security 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 oecessary to comply with law Or custom, MERS (as nominee for Lender <lnd Lender's succllssors
<br />and assigns) has the right: to exercise any Or all of those interests, including. but not limited to, the right to foredose
<br />and sell the Property; and to take any action required of Lender including, but nOllimited to, releasing and canceling
<br />this Security 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 unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend g.merally the title to the Property against all claims and demands, subject to any
<br />encum brances of record.
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<br />Borl'Ower Initials
<br />NEBRASKA--5ingle Fa lIy--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS
<br />Form 3028 1/01 (02/ 1/07) Page Z of 11
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