|
2oioo~si3
<br />(D) "Trustee" is First Dakota National Bank .
<br />(E) "Note" means the promissory note signed by Borrower and dated July 13, 2010. The Note states that Iorrower owes
<br />Lender Seventy Five Thousand and 00/100 Dollars (U.S. $75,000.00) plus interest. Borrower has promised to pay this
<br />debt in regular Periodic Payments and to pay the debt in full not later than January 1, 2041.
<br />(F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property.
<br />(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the
<br />Note, and all sums due under this Security Instrument, plus interest.
<br />(H) "Riders" mean all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be
<br />executed by Borrower [check box as applicable]:
<br />^ Irrigation Equipment Rider
<br />^ Financial Tnformation and Covenants Rider
<br />^ Water Rights Rider
<br />^ Permitted Prior Encumbrance Rider
<br />^ Mortgage Insurance Rider
<br />^ Other(s):
<br />Adjustable Rate Rider
<br />(I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
<br />administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />(J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or sim filar
<br />paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as
<br />to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to,
<br />point-of--sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated
<br />clearinghouse transfers.
<br />(K) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third
<br />party (other than insurance proceeds paid under the coverages described in Section 4) for: (i) damage to, or destruction of,
<br />the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or
<br />(iv) misrepresentations of, or omissions as to, the value and/or condition of the Aroperty.
<br />(L) "Periodic Payment" means the regularly scheduled amount due for principal and interest under the Note.
<br />(M) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has
<br />assumed Bon-ower'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 al I renewals, extensions and modifications of
<br />the Note; and (ii) the performance of Borrower's covenants and agreements under this Security lnstrument and the Note.
<br />For this purpose, Borrower irrevocably grants and conveys to Trustee, intrust, with power of sale, the following described
<br />property located in the County [Type of Recording Jurisdiction] of Hall[Name of Recording Jurisdiction]:
<br />The South Half of the Southwest Quarter (S1/2SWI/4) of Section Thirty (30), Township Nine (9) North, Range Ten
<br />(10) West of the 6th P.M., Hall County, Nebraska, EXCEPT that portion conveyed to the County of Hall, State of
<br />e rasa mtc arm ee recor e m oo a e m the office of the Re ester of Deeds ^
<br />y __ _ g g' of Hall County,
<br />NEBRASKA--Farmer Mac UNIFpRM INSTRUMENT Form 5000.25
<br />C~iPeirsonPatterson, LLP: Arlington, Texas 2007-2009
<br />1808080710 (Doc Id 9701 Rev. 05.04.10]
<br />
|