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2011Q0631 <br />(K) "Electronic Funds 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 ternunal, telephonic instrument, computer, or <br />magnetic tape so as to order, instruct, or authorize a financial institution to 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 />(L) "Escrow Items" means those items that are described in Section 3. <br />(M) "Miscellaneous Proceeds" means any compensation, settlement, 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) damage 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) misrepresentations of, or omissions as to, the value and/or condition of the Property. <br />(l� "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 interest under the Note, <br />plus (ii) any amounts 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 <br />regulation, Regulation X(24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or <br />successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, <br />"RESPA" refers to all requirements and restrictions that are imposed in regard to a"federally related mortgage loan" <br />even if the Loan does not qualify as a"federally related mortgage loan" under RESPA. <br />(Q) "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 />This Security Instrument secures to Lender: (i) the repayment of the Loan, and a11 renewals, extensions and <br />modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security <br />Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power <br />of sale, the following described property located in the <br />COUNTY of HALL . <br />[Type of Recording Jurisdiction] [Name of Recording Jurisdiction] <br />Lf3I' 'II��E (3) , Il� S'I�i �T, IN 'IHE C�IY C�' C�?PI�D ISC�D, I�LL CC�NiY, I�E.�SE�, <br />A.P.N.: 400406'799 <br />which currently has the address of 3 3 2 4 S CHROEDER AVE <br />[Street] <br />GR.AND ISLAND , Nebraska 68803 ("Property Address"): <br />[Ciry] [Zip Code] <br />TOGETHER WITH all the improvements now or hereafter erected on the property, and a11 easements, <br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions sha11 also be <br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property. " <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 encumbrances of record. <br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any <br />encumbrances of record. <br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with <br />limited variations by jurisdiction to constitute a uniform security instrument covering real property. <br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: <br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall <br />pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late <br />charges due under the Note. Borrower sha11 also pay funds for Escrow Items pursuant to Section 3. Payments due <br />under the Note and this Security Instrument sha11 be made in U.S. currency. Hawever, if any check or other <br />instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, <br />Lender may require that any or a11 subsequent payments due under the Note and this Security Instnunent be made in <br />one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, <br />treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured <br />by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. <br />NEBRASKA-- ngle Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMagic � aoo-sas-�as2 <br />Form 3028 1/01 Page 2 of 1 1 www.docmagic.com <br />Ne3028.dot.�l <br />