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201006307
<br />(J) "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
<br />opinions.
<br />(K) "Community Association llues, Fees, and Assessments" means all dues, fees, assessments and other charges
<br />that are itnpased an &~rrawer qr t11e Praperty by a condominium association, homeowners association ar similar
<br />organization.
<br />(L) "Electrgnlc Funds "Cransfer" means any transfer of funds, other than a transaction originated by check, draft,
<br />or similar paper instrument, whic}.t is initiated through all electronic terminal, telephonic instrument, computer, or
<br />magnetic tape sa as to order, instruct, or authorize a financial institution to debit ar credit an account. Such term
<br />includes, but is oat limited to, point-of=sale transfers, automated teller machine transactions, transfers initiated by
<br />telephone, wire transfers, and automated clearinghouse transfers.
<br />(NI) "Escrow Items" means thaw items that are described in Section 3.
<br />(1V) "Mlscellaneous Prgeeeds" means any compensation, settlemenC, award of damages, ar proceeds paid by any
<br />third parry (other than insurance proceeds paid under the coverages described in Section S) for: (i) damage to, or
<br />destruction of, the Property; (ii) condemnation ar other taking of all or any part of the Property; (iii) conveyance in
<br />lieu of candemnatian; ar (iv) misrepresentations of, or omissions as to, the value and/ar condition of the Property.
<br />(O) "Mortgage Insurance" means insurance protecting Lender against the nonpayment af, ar default an, the Loan.
<br />(P) "Periodic Payment" means the regularly scheduled. amount due far (i) principal and interest under the Note,
<br />plus (ii) any amounts under Section 3 of this Security Instrument.
<br />(Q) "RESPA" means the Real Estate Settlement Procedures Act (12 U,S.C. §2tiU1 et seq.) and its implementing
<br />regulation, Regulation X (24 C.F.R. Part 35(Hl), as Choy might be amended from time to time, or any additional ar
<br />successor legislation or regulation that governs the saute subject matter. As used in this Security Instrument,
<br />"RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan"
<br />even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(R) "Successor in Interest of Borrower" means any party that has taken title to die Property, whether ar oat that
<br />party has assumed Borrower's obligations under the Nate and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />The beneficiary of this Security Instrument is MFRS (solely as notninee for Lender and Lender's successors and
<br />assigns) and the successors and assigns of MFRS. This Security Inslrurncnt secures to Lender: (i) the repayment of
<br />the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's
<br />covenants and agreements under this Security Instrument and the Nate. Far this purpose, Harrower irrevocably grants
<br />and conveys to Trustee, in trust, with power of sale, the following described property located in the
<br />COUNTY of HALL .
<br />[Type of Recording Jurisdiction)
<br />[Name of Recording Jurisdiction]
<br />ALL OF THE WEST HALF (W1/2) OF LOT ONE (1) AND THE NORTHERLY
<br />EIGHTEEN AND TWENTY FIVE HUNDREDTHS (N 18.25') FEET OF THE WEST
<br />HALF (W1/2) OF LOT THREE (3), ALL IN BLOCK FIVE (5), UNIVERSITY
<br />PLACE, AN ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA
<br />A.P.N.: 400099535
<br />which currently has the address of 2 615 COTTAGE ST
<br />[Street]
<br />GRAND ISLAND ,Nebraska. ~ $ $ p 3 ("Property Address" ):
<br />[City] [zip Code]
<br />TOGETHER WIT'1-I all the improvements now or hereafter erected an the property, and all easements,
<br />appurtenances, a11d fixtures now ar hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security InstruuYeut as the "Pruperty."
<br />Barrawer understands and agrees that MFRS holds only legal title to the interests granted by Harrower in this Security
<br />Instrument, but, if necessary to catnply with law or custom, MERS (as nominee fpr Lender and Lender's successors
<br />and assigns) has the right: to exercise any or all of those interests, including, but oat limited ta, the right to foreclose
<br />and sell the Property; and to take any action required of Lender including, but oat limited ta, releasing and canceling
<br />this Security Instrument.
<br />130RROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to grant and convey the Praperty and drat the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any
<br />encumbrances of record.
<br />NEBRASKA--Single Family--Fannin Mse/Freddie Mac UNIFORM INSTRUMENT -MERS
<br />Form 3028 1/01 Paga 2 of 11
<br />DpCMagfC ~ 800-849-1362
<br />w ww. docmaglc. com
<br />N'~
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