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<br />200709702
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<br />2 VGt17JJ 1
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<br />V4 NBCD LOAN i 501589406
<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 . L.J Condominium Rider D Second Home Rider
<br />D Balloon Rider .!;SJ Planned Unit Development Rider D Other(s) [specify]
<br />D 1 ~4 Family Rider D Biweekly Payment Rider
<br />OVA 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 tenn 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 Itema" 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 hi 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 Paymenf' 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 />(Q) "RESPA" means the Real Estate Settlement Procedures Act (12 U.$,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 addltion'al 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: (Q the repayment of the loan, and
<br />all renewals, extensions and modifications of the Note; and (iQ 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 />[Type of Recording Jurisdiction] of Hall [Name d Recording Jurisdiction):
<br />Lot Thirteen (13), Imperial Village Third Subdivision to the City of Grand Island,
<br />Hall County, Nebraska.
<br />APN #: 400047667
<br />
<br />which currently has the address of 1411 II SHERIDAB PLACE, Grand Island,
<br />
<br />Nebrasl<a
<br />
<br />68803
<br />[Zip Code]
<br />
<br />("Property Address "):
<br />
<br />[Street] [City)
<br />
<br />TOG ETHER 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 rightto 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 />NEBRASKA--Slngle Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />@ 1999-2004 OnHne Document&, Inc. Page 2 of 9
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<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, exceptfor encumbrances of record. Borrowerwarrants
<br />and will defend generally the title to the Property against all claims and dam.ands, subjectto any encumbrances of record.
<br />
<br />Initia1s:~t) A~~~
<br />NEEDEED 0402
<br />10-31-2007 16:34
<br />
<br />Form 3028 1/01
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