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200944263
<br />(IC) "Electronic Funds Transfer" means any transfer of funds, other than a tranxactinn originated by check, draft,
<br />or similar paper instrument, which is lnltiated through an electronic terminal, telephonic instrument, computer, or
<br />magnetic tape so as to order, instruct, ar authorize a financial institution to debit or credit an account Such term
<br />Includes, but is not limited to, point-of-sale lratrsfers, automated teller machine transactions, transfers initiated by
<br />telephone, wire transfers, and automated clearinghouse transfers.
<br />(I,) "Escrow Items" means those items that are described in Section 3.
<br />(M) "Miscellaneous Proceeds" means any compensation, settlement award of damages, nr proceeds paid by any
<br />thud party (aher than insurance proceeds paid under the coverages described in Section 5) ftrr: (i) damage to, ar
<br />destruction of, the Property; (ii) condemnation or other taking of all or any part of the Properly; (iii) conveyance in
<br />lieu of condemnation; or (iv) misrepresentations of, ar omissions as to, the value and/or condition of the Properly.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(O) "Periodic Payment" means the regularly scheduled amount due for (1) principal and interest under the Note,
<br />plus (11) any amoums under Sectlan 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §Zfi01 et seq.) and its implementing
<br />regulation, Regulation X (29 C.F.R. Part 3500), as they might be amended from time to time, ar any additiona- or
<br />successor leglsladan yr regulation that governs the same subJect matter. As used in this Security Instrument,
<br />"RESPA" refers to all requirements and restrictions that are imposed to regard to a "federally related mortgage loan"
<br />even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any pally that has taken title to the Property, whether or not that
<br />party has assumed Borrower's obligations under the Note and/or this Security Insnvment.
<br />TRANSFER OF RIGWTS IN THE PROPERTY
<br />This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and
<br />modifications of the Note; and (ii) the performance of Borcower's covenants and agreements under this Security
<br />Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power
<br />of sale, the following described property located in the
<br />COUNTY of HALL
<br />Type of Recording iurrsdlcnanJ iName of Rernrding iurlsdidianJ
<br />LOT SEVENTEEN (I7), IN BLOCK ONE (1), PONDEROSA LAKE ESTATES
<br />THIRD SUBDIVISION, IN THE CITY OF GRAND ISLAND, BALL COUNTY,
<br />N1aBRAS KA .
<br />A.P.N.: 400364875
<br />which curcently has the address of 208 PONDEROSA DRIVE
<br />IslreelJ
<br />GRAND ISLAND ,Nebraska 6 8 8 0 3 ("Property Address"):
<br />iCUyJ [Zip Code)
<br />N~71128,iinl.ml
<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 refereed to in this Security hulrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borcower warrants and will defend generally the title to the PropeRy against all claims and demands. subJect to any
<br />encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited variations by~jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment oFPrinctpal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borower shall
<br />pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late
<br />charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due
<br />under the Note and this Security Instrument shall be made in U.S. currenry. However, if any check or other
<br />instalment received by Lender as payment under the Note or this Security Instrumem is returned to Lender unpaid,
<br />Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in
<br />one or more of the fallowing forms, as selected by Lender. (a) cash; (b) money order; (c) certified check, bank check,
<br />treasurer's check or cashier's check, provided any such check is drawn upon an instllultan whose deposits are insured
<br />by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />NEBRASKA--Single Family--Fannie Mae/Freddia Mac UNIFgRM INSTRUMENT L1acMayic iplr~crr;+:e app-any-~yq~
<br />Form 3p28 1/01 Page 2 of 11 www.dbcrosgAc.com
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