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<br />(J) "Applicable L�w" means a11 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 Associatian Dues, Fee.s, and Assessments" means all dues, fees, assessznents and other charges
<br />that are imposed on Borrower or the Froperty by a condominium association, homeowners association ar similar
<br />organization.
<br />(L) "Electronic �nds Transfer" means any transfer of funds, other than a transaction originated by check, draft,
<br />or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or
<br />magnetic tape so as to order, instruct, or authoriz� 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 />(1� "Miscellaneous Proceeds" means any compensation, settlemenC, 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) da�r►age 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; or (iv) rnisrepresentations of, or omissions as to, the value and/or condition of the Property.
<br />(0) "Mortgage Insurance" rneans insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(P) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note,
<br />plus (ii) any amounts und�r Section 3 of this Security Instrunnent.
<br />(Q) "RESPA" means the Rea1 Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing
<br />regulation, Regulation X(24 C.F.R. Part 350�), as they might be amended from time to time, or any additional or
<br />successor legislation or regulation that governs the same subject tnatter. As used in this Security Instrument,
<br />"R�SPA" refecs 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 Property, 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 bene�ciary of this Security Instrument is MERS (solely as nominee for I..ender and Lender's successors and
<br />assigns) and the successors and assigns of MERS. This Security Instrument secures to L.ender: (i) the repayment of
<br />the Loan, and all renewals, extensions and modifications of the NoCe; and (ii) the perFormance of Borrower's
<br />covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower 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 />LOT SIX (5), BLOCK TWO (2), WOODLAND PARK SECOND SUBDIVISI�N, IN
<br />THE G�TY OF GI�AND ISLAND, HALL COUNTY, NESRASKA
<br />A.P.N.: 40045114
<br />which currently has the address of
<br />GRAND ISLAND
<br />[City]
<br />4196 MICHIGAN AVE
<br />[Street]
<br />, Nebraska 6 8 8 0 3 ("Property Address"):
<br />(Zip Code]
<br />TOGETHER WI'1"H all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now ar hereafter a part of the property. All replacernents and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security lnstrurnent as the "Froperty."
<br />Borrnwer understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security
<br />Instrument, but, if necessary to cornply 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 rigl�t to foreclose
<br />and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling
<br />this Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right
<br />to grar�t and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will def�nd generally the title to the Property against all claims and demands, subject to any
<br />encumbrances of record.
<br />� �S
<br />NEBRASKA--Single Fa ily--Fannie MaelFreddie Mac UNIFORM INSTRUMENT - MERS DocMagic � 800-sas-�3sa
<br />Form 3028 1/01 Page 2 of 11 www.docmegic.com
<br />Ne3028.mzd.xml
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