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<br />WHEN RECORDED MAIL TO:
<br />CORNERSTONE BANK
<br />Grand Island Main Facility
<br />$40 North Diers Avenue
<br />Grand Island, NE 68803
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<br />PURCHASE MONEY DEED OF TRUST
<br />DEFINITIONS ` ~
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<br />Words used in multiple sections of this document are defined below and other words era 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 June 23, 2010, together with all Riders to this document.
<br />IB] "Borrower" is Anthony M May and Meghan M May; 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 />(D) "Trustee"is U.S. Bank N.A.
<br />(E) "Note" means the promissory note signed by Borrower and dated June 23, 2010. The Note states that Borrower owes Lender One
<br />Hundred Fifty-three Thousand & 00/100 Dollars (U.S. $153,000.00) plus interest. Borrower has promised to pay this debt in regular
<br />Periodic Payments and to pay the debt in full not later than July 1, 2040.
<br />(F) "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 />Balloon Rider ~ Planned Unit Development Rider ~ Otherls) [specify]
<br />1-4 Family Rider ~ Biweekly Payment Rider
<br />111 "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and
<br />orders (that have the affect of law) as well as all applicable final, non-appealable judicial opinions.
<br />(JI "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 prganization.
<br />IKI "Electronic Funds Transfer" means any transfer of funds, other than a transaction priginated by check, draft, or similar paper
<br />instrument, which is initiated thrpugh an electronic terminal, telephpnic 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-af-sale transfers, automated
<br />teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(L) "Escrow Items" means those items that are described in Section 3.
<br />(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party lother than
<br />insurance proceeds paid under the coverages described in Section 5- for: (il damage to, or destruction of, the Property; (ii) 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/ar condition of the Property.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(OI "Periodic Payment" means the regularly scheduled amount due fpr (i) principal and interest under the Npte, plus (ii- any amounts
<br />under Section 3 pf this Security Instrument.
<br />IPI "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 35001, as they might be amended from time to time, or any additional or successor legislatipn 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 />(O] "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: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and
<br />lii- the performance of Borrower's covenants and agreements under this Security Instrument and the Note. Far 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 Wall:
<br />Real Property tax identification number is 400417510.
<br />Lot Sixteen (16], Summerfield Estates Third Subdivision, in the City of Grand Island, Hall County Nebraska
<br />which currently has the address of 1503 Warbler Circle, Grand Island, Nebraska 68803-3933 ("Property Address"):
<br />(All or part of the purchase price of the Property is paid for with the money loaned.
<br />TOGETHER WITH ali the imprpvements 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."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 7/01
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