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<br />DEED OF TRUST MI�v 1p08152p0006993496
<br />DEFINIT'IONS
<br />Words used irt multiple sections ofthis document are defined below and other words are defined in Sections 3,11,13,18, 20
<br />and 21. Certain rules regarding the usage ofwords used in this document are also provided in Section 16.
<br />(A) °°Security Instrument" means this document, which is dated December 15th , 2010 , together with
<br />all Riders to this document.
<br />(B) "Borrower" is Michael M. Flynn and Brandi J. Flynn, husband and wife
<br />Borrawer is the trustor under this Security Instrument.
<br />(C) "Lender" is �'�rmers and Merchants Bank . Lender
<br />is aCorparation organized and existing under the laws of the State of Nebraska
<br />I.ender's address is 3015 2nd Avenue Kearne , NE 68847
<br />(D) °�Trustee" is Farmers and Merchants Bank 617 First Street Bax E MILFORD, NE 68405
<br />(E) "MERS" is Mortgage �lectronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a
<br />nominee for L.ender and L.ender's successors and assigns. M�RS is the beneficiary under this Security lnstrument.
<br />MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026,
<br />Flint, MI 48501-2026, teL (888) 679-MERS.
<br />(F) ��Note" means the promissory note si�ned by Borrower and dated December 15th 2010 , The Nate
<br />states that Borrower owes Lender One Hundred Fifty Four Thousand �nd OQ/1 QO ' _____ ___
<br />Dollars (U.B. $ l54 OOOAO ^ plus interest. Borrower has promised
<br />to pay this debt in regular Aeriodic Payments and to pay the debt in full not later than January 1, 2Q2b
<br />(G) "Property" means the prop�rty that is described below under the heading "Transfar af Rights in the Property."
<br />(H) "Loan" means the debt evidcnced by the Note, plus interest, any prepayment charges and late charges due under the
<br />Note, and ap sums due under this Security Instrument, plus interest.
<br />(I) ��Riders" means all Riders to this Security Instrument that are executed by Borrower. '1"he following Riders are to be
<br />executed by Borrower [check box as applicable]:
<br />❑ Adjustable Rate Rider ❑ Condominium Rider ❑ Secand Home Rider
<br />❑ Balloon Ridar ❑ planned Unit Development Rider ❑ Other(s) [specify] �
<br />❑ 1-4 Family Rider ❑ Biweekly Payment Rider
<br />(J) "Applicable Law" means all contralling applicable federal, state and local statutes, regulations, ordinances and
<br />administrat�ve rul�s and orders (that have the effect of law) as well as all applicable �nal, non-appealable judicial opinions.
<br />(K) ��Community Association Dues, Fees, and Assessments" means all duas, fees, assessments and other char�es that are
<br />imposed on Barrawer or the Property by a candominium association, homeowners association ar similar organization.
<br />(L) f°Electronit Funds Transfer" means any transfer of funds, other than a transaction originated by chack, draf}, or similar
<br />paper instrument, which is initiated throu$h an electronic terminal, telephonic instrument, computer, or mapnetic tape so as
<br />to order, instruct, or authorixe a financ�al mstitution to debit or credit an account. Such term includes, but is not lim�tad to,
<br />pair►t-af-sale transfers, automated teller machine transactians, transfers initiated by telephone, wire transfers, and autamated
<br />clearinghouse transfers.
<br />(M) "Escrow Items" means those items that are described in Section 3.
<br />(N) '�Miscellaneous Proceeds" means any compensation, settlement, award ofdamages, orproceeds paid byanythird party
<br />(othee than insurance proceeds paid under the coverages described in 5ection 5) for: (i) damape ta, ar destruction of the
<br />Properiy; (ii) condemnation or other taking of all or any part of the Aroperry; (iii) conveyance m lieu of condemnation; or
<br />(iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against tha nonpayment of, ar default on, the Loan.
<br />(P) ��Periadic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii)
<br />any amounts under Section 3 of this Security Instrumant.
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM (NSTRUMENT (MERS) Form 3028 1/O1 (page 1 of8 pages)
<br />�2439.CV (1/08) 91172FA Creative Thinking, Inc.
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