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201104�03
<br />451103706
<br />(E) "MER5" is Mortgage Electronic Registtation Systems, Inc. MERS is a separate corporation that is
<br />acting solely as a nominee for Lender and Lender's successors and assigns. MER5 is the beneficiary under
<br />this Security Instrumen� MERS is organized and existing under the laws of Delawaze, and has an address
<br />and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.
<br />(N� "Note" means the promissory note signed by Borrower and dated JIINE 23, 2011. The Note states
<br />that Bonower owes Lender TWO HDNDRED S=X THOIISAND TWO HIINDRED AND 00/100 Dollars
<br />(U.S. $206, 200 . 00) plus interest. Bonower has promised to pay this debt in regular Periodic Payments
<br />and to pay the debt in full not later than JIIi,Y 1, 2026.
<br />(G) "Property" means the property that is described below under the heading "Transfer of Rights in the
<br />Property."
<br />(� "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
<br />due under the Note, and all sums due under this Security Instrument, plus interest.
<br />(I) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
<br />Riders are to be executed by Bonower [check box as applicable]:
<br />❑ Adjustable Rate Rider O Condominium Rider � Second Home Rider
<br />0 Balloon Rider � Planned Unit Development Rider � Biweekly Payment Rider
<br />❑ 1-4 Family Rider O Other(s) [specify]
<br />(� "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non
<br />-appealable judicial opinions.
<br />(I� "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other
<br />charges that are imposed on Bonower or the Property by a condominium association, homeowners
<br />association or similar organization.
<br />(L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check,
<br />draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument,
<br />computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an
<br />account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine
<br />transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(1Vn "Escrow Items" means those items that are described in Section 3.
<br />(1� "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by
<br />any third party (other than insurance proceeds paid under the coverages described in 5ection 5) for: (i)
<br />damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property;
<br />(iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or
<br />condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
<br />the Loan.
<br />(P) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the
<br />Note, plus (ii) any amounts under Secrion 3 of this Security Instrument.
<br />(Q) "RE5PA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its
<br />implementing regulation, Regularion X(24 C.F.R. Part 3500), as they might be amended from time to time,
<br />or any addirional or successor legislation or regulation that governs the same subject matter. As used in this
<br />Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a
<br />"federally related mortgage loan" even if the Loan does not qualify as a"federally related mortgage loan"
<br />under RE5PA.
<br />(R) "5uccessor in Interest of Borrower" means any party that has taken ritle to the Property, whether or
<br />NEBRASI{A—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />� 338.4 Page 2 of 14 Form 3028 ]/Ol
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