201009716 - Laserfiche WebLink

Browse

2�1009�1b (C)'Z.ender"is EQUITABLE BANK Lender is a Sdvi ngs B�nk organized and existing under the laws of TH E S TAT E 0 F N E B RA S KA ' Lender's address is 113-115 N LpCUST ST PO BOX 160 GRAND ISLAND NE 68$02-p160 Lender is the beneficiary under this Security Instrument. (D)'"Trnstee"is EQUITABLE BANK (E) "Note" means the promissory note signed by Sorrower and dated DeCember 20 , 2010 . The Note states that Borrower owes Lender ONE HUNDR�D FOR7Y FOUR THOUSAND AND 0 0/ 10 0 Dollars (U. S. $ 144 , 000 . 00 ) plus interest. Barrower has promised to pay this debt in regular Periodic Payrnents and to pay the debt in full not later than J d r1 u d t'y 1, 2 D41 . (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. " (G) 'Zaan" means the debt evidenced by the Nnte, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Jnstrument, plus interest. (H) 'Riders" means all Riders to thiti Security Instrument that are executed by Borrower. The fallowing Riders are to be executed by Borrower [check box as applicable]: [] Adjustable Rate Rider ❑ Condominium Rider 0 Second Horae Rider � Balloon Rider ❑ Planned Unit Development Rider � 1-4 Family Rider [] VA Rider 0 Biweekly Payment Rider � Other(s) (specify] (I) "Applicable Law" meaz�s all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" m�ans all dues, fees, a.ssessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) '�lectronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terrninal, telephonic instrument, computEr, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not lirnited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means thase items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceed5 paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, ar destruction of, the Praperty; (ii) condeznnatipn or other taking of all or any part of the Property; (iii) conveyance in lieu of candernnation; or (iv) misrepresentations of or omissions as to, the value andJor condition of the Property. (N) "Martgage Insurance" means insurance protecting Lender against the nonpayrnent of, or default on, the Loan. 231QQ1 NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFQRM IN5TRUMENT �-6(NE) (oett) Page2 of 15 �nitials � Fprm 3028 1/01 � 1 h., '—� ' 1