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<br />WHEN RECORDED MAIL. TO:
<br />CORNERSTONE BANK
<br />Grand Island Main Facility
<br />$40 North Diers Avenge
<br />Grand Island, NE 6$803
<br />DEFINITIONS
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<br /> DEED OF TRUST
<br />Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 1 1, 13, 18, 20 and 21.
<br />Certain rules regarding the usage of words used in this document are also provided in Section 16.
<br />IAI "Security Instrument" means this document, which is dated July 17, 2009, together with all Riders to this document.
<br />(B) "Borrower" is David J Phinney and Debra K Phinney; Husband and Wife. Borrower is the trustor under this Security Instrument.
<br />(C) "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, 840 North Diers Avenue, Grand Island, NE 68803. Lender is the beneficiary under this Security Instrument.
<br />[DI "Trustee" is TIERONE BANK.
<br />(E) "Note" means the promissory note signed by Borrower and dated July 17, 2009. The Npte states that Borrower owes Lender
<br />Seventy-seven Thousand & 00/100 Dpllars (U.S. 577,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later than August 1, 2024.
<br />IFl "Property" means the property that is described below under the heading "Transfer of Rights in the Property."
<br />IGI "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 />Adjustable Rate Rider ~ Condominium Rider ~ Second Home Rider
<br />Balloen Rider ~ Planned Unit bevelopment Rider ~ Otherls) [specify)
<br />1-4 Family Rider ~ Biweekly Payment Rider
<br />(11 "Applicable Law" means all controlling applicable federal, state and Iecal 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 />(J1 "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 />IK1 "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, nr
<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 />ILI "Escrow Items" means those items that ate described in Section 3.
<br />IMI "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than
<br />insurance prpceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or
<br />other taking. of all or any part of the Property; (iii) conveyanne in lieu of condemnation; or (iy- misrepresentations of, ar omissions as" to, the
<br />value and/or condition of the Property.
<br />IN) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />10) "Periodic Payment" means the regularly scheduled amount due for lit principal and interest under the Nate, plus lii) any amounts
<br />under Section 3 of this Security Instrument.
<br />IP) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its implementing regulation, Regulation X
<br />124 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 />(~) "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 />TRANSFER OF RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to Lender: li- the repayment of the Loan; and all renewals, extensions and modifications of the Note; and
<br />(ii1 the performance of .Borrower's covenants and agreements under this Security Instrument and the Note. Fer 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 />Real Property tax identification number is 400214032.
<br />Lt 2, Niedfelt 1st Sub, Hall County, Ne
<br />which currently has the address of 3444 S Shady Bend Rd, Grand Island ,Nebraska 68801 ("Property Address"-:
<br />TOGETHER WITH all the improvements naw 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 foregeing is
<br />referred to in this Security Instrument es the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant .and convey the
<br />Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title
<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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