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<br />200709533
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<br />computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an
<br />account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine
<br />transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(L) "Escrow Items" means those items that arc described in Section 3.
<br />(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by
<br />any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
<br />damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the
<br />Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of: or omissions as to, the
<br />value and/or condition of the Property.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the
<br />Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note,
<br />plus (ii) any amowlts under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.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
<br />additional or successor legislation or regulation that governs the same subject matter. As used in this Security
<br />Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally
<br />related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under
<br />RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not
<br />that party has assUllloo Borrower's obligations under the Note and/or tlus Security Instrument.
<br />
<br />TRANSFER OF RIGHTS IN THE PROPERTY. This Security Instrument secures to Lender: (i) the repayment
<br />of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's
<br />covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably
<br />grants and conveys to Trustee, in trust, with power of sale, the following described property located in the
<br />COUNTY of HALL:
<br />
<br />NORTH 60 FEET OF LOT 12, BLOCK 3, SOUTHERN ACRES ADDITION, GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA which currently has the address of 2605 Brahma
<br />Street, Grand Island, Nebraska 68801
<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
<br />"Property. "
<br />
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey tI1e 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
<br />any enCUlllbrances 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 wliform security instrument covering real property.
<br />
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower
<br />shall pay when due the principal of, and interest on, the debt evidenced by the Note and any
<br />prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow
<br />Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in
<br />U.S. currency. However, if any check or other instrument received by Lender as payment WIder tI1e
<br />Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all
<br />
<br />maRASKA . Sirlgk;Fa....Q1y - F.....ir M"Iil/fredd"" Mill., UNIFORM INSTRU:MENT
<br />@2004-2006 Copyright Compliance SY"=-. Inc. 2D26.6li6J. 2006.11.140
<br />Singl<:: Family Real Hl;Ibttc: - Security Inlll~Jll D1..2047
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