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20100891�
<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 />opinians.
<br />(K) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges
<br />that are imposed on Borrower or the Property by a condominium association, horneowners association or similar
<br />organization.
<br />(L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction otiginated by check, draft,
<br />or siznilar papec instrument, which is initiated through an electronic ternunal, telephonic instrument, computer, or
<br />magnetic tape so as to order, instruct, or authorize a financial institution ta 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 />(M) "Escrow Items" means those items that are described in Section 3.
<br />(N) "Miscellaneous 1'roceeds" nneans any compensation, settlement, award of damages, or proceeds paid by any
<br />third party (other than insurance proceeds paid under the coverages described in 5ection 5) far: (i) damage to, or
<br />destruction of, the Property; (ii) condernnatian or other taking of all oc any pact of the Property; (iii) conveyance in
<br />lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Prop�rty.
<br />(0) "Mortgage insarance" zneans insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(P) "Periodic Payment" meaz�s the regularly scheduled amount due for (i) principal and interest under the Note,
<br />plus (ii) any amounts under Section 3 of this Security lnstrument.
<br />(Q) "RESPA" nneans 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 might be amended from time to tirr►e, or any additional or
<br />successor legislation or regulation that governs the same subject matter. As used in this Security lnstrument,
<br />"RESPA" refers to all requirements and restrictions that are imposed in regard to a"federally related mortgage loan"
<br />even if the L,oan 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 the Prnperty, whether or not that
<br />party has assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />The beneficiary of this Security Instrurnent is MERS (solely as nominee for L.ender and I,ender's successors and
<br />assigns) and the successots and assigns of MERS. 'I'his Security Instrument secures to I.ender: (i) the repayment of
<br />the Loan, and all renewals, extensions and rnodifications of the Note; and (ii) tha performance af Borrower's
<br />covenants and agreements under this Security Instrument and the Note. For this putpose, Borrower irrevocably grants
<br />and conveys to Trustee, in trust, with pawer of sale, the following described property located in the
<br />COUNTY of HALL .
<br />[Type of Recording Jurisdiction] [Name of Recording Jurisdiction]
<br />• -�`� '� • � � �'J. ��� `'� � � C�1 f.�1[� 1 1 I �I • ! �• � 14 • � '• li 9C•!• � �•
<br />• • . �� +
<br />which currently has the address of
<br />GRAND ISLAND
<br />[City]
<br />4015 DRIFTW�OD DR
<br />[StreetJ
<br />, Nebraska 5 8 8 0 3 ("Praperty Address"):
<br />[Zip Code]
<br />TOGE7'HER WITH all the improvements now or hereafter erected on the prnperty, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacernents and additions shall also be
<br />covered by this Security Instzvment. All of the foregoing is referred to in this Security Instrument as the "Property. "
<br />Borrower understands and agrees that MERS holds anly legal title to the interests granted by Borrower in this Security
<br />Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors
<br />and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose
<br />and sell the Property; and to take any action required of Lender including, but not lirnited to, releasing and canceling
<br />this 5ecurity Instzvment.
<br />BORROWER COVENANTS 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 encurnbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and dernands, subject to any
<br />encumbrar►ces of record.
<br />►
<br />NEBRASKA--Single
<br />Form 3Q28 1 /01
<br />IF6RM INSTRUMENT - MERS DocN►agic �n� soo-sas-�ssz
<br />Page 2 of 11 www.docrosgic.cam
<br />Ne3028.mzd.xml
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