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200803641 Ol "Applicable Law" means all controlling applicable federal, state and local statutes. regulations. ordinances and administr.ttlve rules and ordel1l (that have the effect of law) as well as all applicable final, non" appealable judicial opinions. (K) "Community Association Dues. Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Propel1y by a condominium associatiol\ homeownel1l association or similar organization (L) "Electronic Funds Transfer" means any transfer of fwxls, other than a transaction originated by check. draf\ or similar paper instrumen\ which is initiated through an electronic terminal, telephonic instrumen\ computer, or magnetic tape so as to order, instruc\ or authorize a financial institution to debit or credit an account Such term includes, but is not limited to, point. of. sale transfers, automated teller machine transactions, transfel1linitiated by telephone. wire transfers, and automated clearinghouse transfers. (M) "Escrow Items" means those items that are described in Section 3 (N) "Miscellaneous Proceeds" means any compensation settlemen\ award of damages, or proceeds paid by any third paI1y (other than insurance proceeds paid under the coverages described in Section 5) for. (I) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (ill) conveyance in lieu of condemnatiol; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Propel1y. (0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default 01\ the Loan (P) "Periodic Payment" means the regularly scheduled amount due for (I) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument (Q) "RESPA" means the Real Estate Settlement Procedures Act (12 u. S. C. !i2ffi1 et seq.) and its implementing regulatiol\ Regulation X (24 C. F. R Part~, as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrumen\ "RESPA" refel1l to all requirements and restrictions that are imposed in regard to a" federally related mortgage loan" even if the Loan does not qualify as a" federally related mortgage loan" under RESPA. (R) "Successor in Interest of Borrower" means any party that has taken title to the Propel1y, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument TRANSFER OF RIGHTS IN THE PROPERTY The beneficiill)' of this Security Instrument is MERS (solely as nominee for Lender and Lender's successol1l and assigns) and the successors and assigns of MERS. This Security Instrument secures to Lender. (i) the repayment of the L08l\ and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements wxIer this Security Instrument and the Note. For this purpose, Borrowerlrrevocably grants and conveys to Trustee. in trus\ with power of sale, the following described propel1y located in the COUNTY of HALL IType of Rerordiog JurisdlcUon] (Name of RecordJog JurlsdicUon] SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF AS EXHIBIT "An. which currently has the address of 211 ponderosa Dr. [S Ireel] Grand Island ICity] , Nebraska 68803 ("Property Address"): [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements. appurtenances, and fixtures now or hereafter a part of the propel1y. All replacements and additions shall also be covered by this Security Instrument All of the foregoing is referred to in this Security Instrument as the "Propel1y. " Borrower undel1ltands and agrees that MERS holds only legal title to the Interests granted by Borrower In this Security Instrument bu\ If necessill)' to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right to exercise any or all of those interests, including but not limited to, the right to foreclose and sell the Property. and to take any action required of Lender including but not limited to, releasing and canceling this Security Instrument BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Propel1y is unencumbered, except for encumbrances of record Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record Borrower InitialS' JlJL CDl*~_ __________ __________ __________ NEBRASKA-Single Family--fannle Mae,freddle Mac UNIFORM INSTRUMENT - """RS Form 302B 1,01 Page 2 of 11 DocM.."iC eJl"wrnlilZ 800-649-1362 www.docmBgir:.c:om