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<br />200706265
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<br />ill "ApplkabJe Law" means all conlrolllng applkable federal, slate and local statutes, regulalions. ordlna""es and
<br />administrative rules and orders (that have the effect of law) as well as all appllcahle 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 Prop"rty by a condominium association, homeowners association or similar
<br />organization.
<br />(L) "E1edronk Fund. Transfer" means any transfer of funds, otber than a tralLsactlon originated by check, draft,
<br />or similar pap"r instrument, which is initiated through an electronic terminal, telephonic instrument, romputer, or
<br />magnetic tape so as tll order, In.lruI1, or authorize a tlnancialinstitution to debit or neltit an al;l:Ounl. 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 Iransfers.
<br />(M) "Escrow Items" means those items thaI are described in Section 3.
<br />(N) "MlscellaneollS 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) condemnatlon or other taking of all or any part of t.he Property; (Ill) conveyance in
<br />111'0 of condemnation; or (Iv) misrepresentations of, or omissions as to, the vaiue 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" me.ans the regularly scheduled amount due for (I) principal and Interest under the Noll',
<br />plus (II) any amounts under Section 3 of this Security Inslrument.
<br />(Q) "RESPA" ffil';InS the Real Estale Setllemfml PrOl;edures Act (12 U.$.C. S2601 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 />SUCl'",..sor legislation or regulation thaI governs the same subject matter. As u.sed In this Securily Inslrument,
<br />"RESPA" refers to all requirements and reslrlctlons that are imposed in regard to a "federally related mortgage loan"
<br />even If the Loan does nol. qualify as a "federally related mortgage loan" under RESPA.
<br />(R) "Successor in Interest of Borrower" means any party that has taken tille to t.he Properly, whether or not that
<br />party has assomed Borrower's ohllgations under the Note and/or this Security Inslroment.
<br />
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />
<br />The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's SOCfessoTS and
<br />assigns) and the successors and assigns of MERS. This Security Inslroment secures to Lender: (i) the repayment of
<br />the Loan, and all renewals, extensions and modifications of the Note; and (il) I.he penormanl:e of Borrower's
<br />fovenants and agreements onder this Secority Instrument and the Note. For this purpose, Borrower Irrevocably grants
<br />and conveys tll Trustee, in trust, wilh power of sale, the fullowing descrihed property located In the
<br />COUNTY of HALL
<br />ITy"" nr Recording JurlsdkllOll] IN.IIM' nr Rl'Cnrdlng Jurlsdlcllnn]
<br />SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF.
<br />(STATE: NEBRASKA, COUNTY: HALL)
<br />
<br />which currently has the address of
<br />
<br />621 W. KOENIG
<br />[Streel]
<br />
<br />GRAND ISLAND
<br />ICily)
<br />
<br />. Nebraska
<br />
<br />68801 ("Property Addte..s");
<br />IZip Codel
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<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements.
<br />appurtenanfes, and fixtores 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 SeCllrity Instrument as the "Property. "
<br />Borrower understands and agrees that MERS holds only legal title to the Interests granted by Borrower in this Sefurily
<br />Instrument, but. if necessary to IXlmply wi.th law or costom, MERS (as nominee for Lender and Lender's successors
<br />and assigns) has the right: to exercise any or all of those interests, including. but not limited to, the right to foreclose
<br />and sell the Property; and to lake any action required of Lender incloding, but not limited to, releasing and fanceling
<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 mnvey l.he Property and that the Property ls onencumbered, except for encumbrances uf record.
<br />Borrower warrants and will defend generally the title to the Property agains1 all daims and demands, subject to any
<br />encombrances of record.
<br />
<br />NEBRASKA..Singl" Family..Fanni" Maa/Ftetldie Mac UNIFORM INSTRUMENT. MERS
<br />Form 3028 1/01 Pag" 2 or 11
<br />
<br />DocMagic ~J!JI.I; 800.84".1382
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