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� � � � Q � . �:� r � � ' ..�+ tv t� u� �: �-� � j r'i :$ : C7D eJ —1 � `ry^A `� ' rJ u � � � � 7 � —� � � � � . • �, � n � � —� QO cv � � a � � a _� ^�': rv � ° � �. � � x " � � a �• `� ''' n� � � A � � , ;i �`� �1 -�n � � cn ;, �} � ;:_ u� O t�j> � � � � `�; � � � f-. � � � :n � v� � 3 � n c� � � �� � � � � ^ C1'> O l{ ""� 7rt � V \�. � [Space Above This Line For Recording Data) � DEED OF TRUST THIS DEED OF TRUST ("Security InstrumenY') is made on April 2211d 1998 . The trustor is Michael J. McGahan and Tracv C. McGahan Husband and Wife ("Borrower"). The trustee is Union_Bank And Trust Companv ("Trustee"). The beneficiary is Union Bank and Trust Company which is organized and existmg under the laws of the State of Nebraska , and whose address is 3643 South 48th Street Lincoln NE 68506 (��Lender"). Borrower owes Lender the principal sum of Two Hundred Si Six Thousand and 00 100 Dollars (U.S.$ 266,000.00). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt. if not paid earlier, due and payable on _ May 1, 2028 . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements. For this purpose, Borrower irrevocab�y grants and conveys to Trustee, in trust, with power of sale, the following described properry located in Hall County, Nebraska: Lot Fourteen (14), in Block Three (3), in Replat of Riverside Acres, an Addition to the city of Grand Island, Hall County, Nebraska which has the address of 2416 Arrowhead Road , Grand Island Street City Nebraska 68801 ("Properry Address"); Zip Code TOGETHER WITH all improvements now or hereafter erected on the properry, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") for: (a) yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b) yeariy leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (� any sums payable by Borrower to Lender, in accordance with the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are cal�ed "Escrow Items." Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a fender for a federally related mortgage loan may require for NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFOFiM INSTRUMENT Form 3028 9/90 F1029.LMG (70/97) Page 1 of 5 �!