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20100779�
<br />(K) "Electronic Funds Transfer" rneans any transfer of funds, other than a transaction originated by check, draft,
<br />or similar paper instrument, which is initiated through an electronic terzninal, telephonic instrurnent, computer, or
<br />magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term
<br />includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by
<br />telephone, wire transfers, and automated clearinghouse transfers.
<br />(L) "Escrow Items" means those items that are described in Section 3.
<br />(1V� "Miscellaneous Proceeds" means any compensation, settlernent, award of damages, or proceeds paid by any
<br />third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or
<br />destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in
<br />lieu of condemnation; ar (iv) misrepresentations of, or omissions as to, the value and/or conditian of the Property.
<br />(1� "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note,
<br />plus (ii) any amaunts under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing
<br />regulation, Regulation X(24 C.F.R. Part 3500), as they rnight be amended from time to time, or any additional or
<br />successor legislation or regulation that governs the same subject matter. As used in this 5ecurity Instrument,
<br />"R�SPA" refers ta all requirements and restrictions that are irnposed 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 />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that
<br />party has assumed Borrower's obligatiqns under the Note and/or this Security Instrurnent.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to Lender: (i) the repayment of the Laan, and all renewals, extensinns and
<br />modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security
<br />Instrurnent and the Note. Fpr 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 Jurisdictian] [Name of Recording 7urisdicUon]
<br />THE EASTERLY 22.63 FEET OF LOT 3, AND THE WESTERLY 57 FEET OF LOT
<br />2, ALL IN BLOCK 11, IN PARKH�LL THIRD ADDITION TO THE CITY OF
<br />GRAND ISLAI�TD, HALL COUNTY, NEBRASKA.
<br />which currently has the address of 2 4 0 9 W PHOENI X AVE
<br />[Street]
<br />GRAND I SLA.ND , Nebraska 6 8 8 0 3 ("Property Address"):
<br />[City] [Zip Code]
<br />TOGETHER WITH all the improvernents 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 faregoing is referred to in this Security Instrurnent as the "Property."
<br />BORROWER CQVENANTS 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 />Borrower warrants and will defend generally the title to the Property against a11 claims and demands, subject to any
<br />encumbrances of record.
<br />'I'HIS SECURITY INSTRUMEIVT cprnbines uniform covenants for national use and non-uniform covenants with
<br />limited variations by jurisdiction ta constitute a uniform security instrument covering real praperty.
<br />UNIFORM COVENANTS. Barrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower 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 InstrumenC shall be made in U.S. currency. However, if any check or other
<br />instrument received by Lender as payment under the Nate or this Security Instrument is returned to I.ender unpaid,
<br />Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in
<br />ane or more of the following 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 dxawn upon an institution whose deposits are insured
<br />by a federal agency, instrumentality, or entity; or (d) Electronic �unds Transfer.
<br />NEBRASKA--Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT DpcMagic � aoo-s4s-ras2
<br />Form 3028 1l01 Page 2 of 11 www.docmagic.com
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<br />Ne3028.doc.xml
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