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<br />WHEN REC�RDED MAIL TO:
<br />CORNERSTONEBANK
<br />Grand Island Main Facility
<br />840 North Diers Auenue
<br />Grand Island, NE 68803
<br />DEFINITIONS
<br />DEED OF TRUST
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<br />Words used in multiple sections of this document ere dafined belaw and ather words are defined in Sections 3, 11, 13, 18, 20 and 21.
<br />Certain rules regarding tha usage of words used in this document are also provided in Section 16.
<br />(A) "Sacurity Instrument" means this document, which is dated December 31, 2010, together with all Riders to this document.
<br />(B) "8arrower" is Gregory J Jarecke and Kimberly 5 Jarecke; Husband and Wife. 8orrower is the trustor under this Security Instrument.
<br />(C) "Lender" is CORNERSTON� BANK. Lender is a Corporation organized and existing under the laws of Nebraska. Lender's address is
<br />Grand Island Main Faaility, 840 Nprth Diers Avenue, Grand Island, NE 68803. Lender is the beneficiary under this Security Instrument.
<br />(D) "Trustee" is CENTRAL NATIONAL BANK .
<br />(E) "Note" means the promissory note signed by Borrower and dated December 31, 2010. The Note states that Borrower owes Lender
<br />Two Hundred Eight Thousand & 00/100 Dollars (U.S. 62p8,000.00) plus interest. Borrower has promised to pay this debt in regular
<br />Periodic Payments and to pay the debt in full npt later than February 1, 2026.
<br />(F) "Property" means ths property that is descri6ed balaw under the heading "7ransfer of Rights in the Property."
<br />(G1 "Loan" means the de6t evidenced by the Nqte, plus in#arest, any prepayment charges and late charges due under the Note, and all
<br />sums due under this Security Instrument, plus interast.
<br />(M) "Riders" means nll Riders to thia Secu�ity instrument that are executed 6y Borrower. The following Riders are to be er.ecuted 6y
<br />Borrower (check box as applicable]:
<br />Adjustable Rate Rider
<br />Balloon Rider
<br />1-4 Family Rider
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<br />(3pace Above 1'his Line For Recording Data]
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<br />Condominium Rider
<br />Planned Unit Development Rider
<br />Biwpekly PByment Rider
<br />� Second Home Rider
<br />� Qther�s) [specify] _
<br />(I) "Applicable Law" means all controlling applicable federal, state and Ipcal statutas, regulations, ardinances and administrative rules and
<br />orders (that have the effect of law) as well as all applicable final, non-appesieble judicial opinions.
<br />(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and pther charges that are imposed on
<br />Barrower or the Praperty by a condominium association, homeowners association ar similar organization.
<br />(K) "Electronic Funds 7ransfer" means any transfer of funds, other than a transaction originated by check, draft, or similar peper
<br />instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape sa as to order, instruct, or
<br />authorize a financial institution to dabit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, autpmated
<br />teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(L) "Escraw Items" means thqse items that are described in Section 3.
<br />(M) "Miscelianeous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than
<br />insurance proceeds paid under the coverages describsd in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or
<br />other taking of all or any part of the Property; (iii) conveyance in lieu of condamnation; or (iv) misrepresentations of, or omissions as to, the
<br />value andlor condition of the Praperty.
<br />(N) "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 intsrest under the Note, plus (ii) any amounts
<br />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 reguletion, Regulation X
<br />(24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor Isgislation or regulation that governs
<br />ihe same subject matter. As used in this Security Instrument, "RESPA" refers [o all requirements and restrictions that are imposed in
<br />regard to a"federally related mortgage loan" even if ths Loan does not qualify as a"federally related mortgage loan" under RESPA.
<br />(n) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed
<br />Borrower's obligations under the Note end/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications nf the Nnte; and
<br />lii) the performance of Borrower's covenants and agreements under this Sscurity Instrument and the Note. For this purpose, Borrower
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the follpwing dsscribed property located in the County of Mall:
<br />Real Property tax identification number is 4pQ4117a1.
<br />Lot Fourteen (941, in Westwood Park Seventh Subdivision in the Ci#y of Grand Island, Hall County, Nahraska
<br />which currently has the eddress af 426 Tsakwood Cir, Grand Island, Nebraska 6$$03-3136 ("Property Address"1:
<br />TOGETWER WITW ail the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now
<br />or hereafter a psrt nf the property. All replacements and additions shall also be covered by this Security Instrument. All of the faregoing is
<br />referred to in this Security Instrument as the "Property."
<br />BORROWER CpVENAN7S that 8orrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the
<br />Property and that tha Prop�rty is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3p2$ 1l01
<br />Page 1 of 6
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