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<br />WHEN RECORDED MAIL TO:
<br />CORNERSTONE BANK po ~Oj(. 5e'
<br />Grand Island Main Facility A Ii!.o IJ f
<br />810 North Diers A venue U v..~ /If'1 f
<br />P.O. Box 1074 (p
<br />Grand Island, NE 68802-1074
<br />
<br />3cJ~so
<br />
<br />[Space Above This Line For Recording Data]
<br />
<br />DEED OF TRUST
<br />
<br />DEFINITIONS
<br />
<br />Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21.
<br />Certain rules regarding the usage of words used in this document are also provided in Section 16.
<br />
<br />(A) "Security Instrument" means this document, which is dated April 21, 2009, together with all Riders to this document.
<br />IB) "Borrower" is Allan W Brax and Cheryl L Brax; Husband and Wife. Borrower is the trustor under this Security Instrument.
<br />IC) "Lender" is CORNERSTONE BANK. Lender is a Corporation organized and existing under the laws of Nebraska. Lender's address is
<br />Grand Island Main Facility, Bl0 North Diers Avenue, P.O. Box 1074, Grand Island, NE 6BB02-1074. Lender is the beneficiary under this
<br />Security Instrument.
<br />(0) "Trustee" is TIERONE BANK.
<br />IE) "Note" means the promissory note signed by Borrower and dated April 21, 2009. The Note states that Borrower owes Lender One
<br />Hundred Sixty-five Thousand Five Hundred & 0011 00 Dollars (U.S. $165,500.00) plus interest. Borrower has promised to pay this debt in
<br />regular Periodic Payments and to pay the debt in full not later than May 1, 2039.
<br />IF) "Property" means the property that is described below under the heading "Transfer of Rights in the Property."
<br />IG) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all
<br />sums due under this Security Instrument, plus interest.
<br />(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by
<br />Borrower [check box as applicable]:
<br />
<br />o Adjustable Rate Rider
<br />o Balloon Rider
<br />o 1-4 Family Rider
<br />
<br />o Condominium Rider
<br />o Planned Unit Development Rider
<br />o Biweekly Payment Rider
<br />
<br />o Second Home Rider
<br />o Other(s) [specify] _
<br />
<br />(I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and
<br />orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />IJ) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on
<br />Borrower or the Property by a condominium association, homeowners association or similar organization.
<br />(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper
<br />instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or
<br />authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated
<br />teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />IL) "Escrow Items" means those items that are described in Section 3.
<br />1M] "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than
<br />insurance proceeds paid under the coverages described in Section 5) for: (j) damage to, or destruction of, the Property; W) condemnation or
<br />other taking of all or any part of the 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 />INI "Mortgage Insurance" means insuranca protecting Lender against the nonpayment of. or default on, the Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (j) principal and interest under the Note, plus (ii) any amounts
<br />under Section 3 of this Security Instrument.
<br />IP) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. s: 2601 et seq.) and its implementing regulation, Regulation X
<br />(24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs
<br />the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in
<br />regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(a) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed
<br />Borrower's obligations under the Note and/or this Security Instrument.
<br />
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />
<br />This Security Instrument secures to Lender: (I) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and
<br />(ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower
<br />irrevocably grants and conveys to Trustee, in trust. with power of sale, the following described property located in the County of Hall:
<br />
<br />Real Property tax identification number is 400415038.
<br />
<br />Lot Twenty Five 1251, Country Meadows Second Subdivision in the City of Gnmd Island, Hall County, Nebraska
<br />
<br />
<br />which currently has the address of 4145 West Ridge Lane, Grand Island, Nebraska 68818 ("Property Address"):
<br />
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now
<br />or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument, All of the foregoing is
<br />referred to in this Security Instrument as the" Property. n
<br />
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Page 1 of 6
<br />
<br />Form 3028 1/01
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