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<br />(Space Above This Line For Recording Data]
<br />DEED OF TRUST
<br />AND CONSTRUCTION SECURITY AGREEMENT
<br />�ol
<br />THIS DEED OF TRUST ( "Security Instrument ") is made on August 18th 2000 The trustor is
<br />MICHAEL P KERBY AND LUCILLE M KERBY , HUSBAND AND WIFE
<br />( "Borrower "). The trustee is
<br />GARY W. WRIGHT, A LICENSED REAL ESTATE BROKER 2411 S. 133RD PLAZA OMAHA NE 68144
<br />( "Trustee "). The beneficiary is
<br />MORTGAGE LOANS OF AMERICA. LLC , which is organized and
<br />existing under the laws of NEBRASKA and whose address is 2407 SOUTH 133RD
<br />PLAZA OMAHA, NE 68144 ( "Lender "). Borrower owes Lender the principal sum of
<br />One Hundred Eighty Eight Thousand Two Hundred Fifty and 00/100 Dollars
<br />(U.S.$ 188,250.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which
<br />provides for monthly payments, with the full debt, if not paid earlier, due and payable on September 1, 2001 . This Security
<br />Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and
<br />modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this
<br />Security Instrument; and (c) the performance of Borrower's covenants and agreements. For this purpose, Borrower irrevocably grants and
<br />conveys to Trustee, in trust, with power of sale, the following described property located in HALL County, Nebraska:
<br />SEE ATTACHED
<br />It is understood by the Borrower and Lender that this instrument, which is secured by the above referred property is a CONSTRUCTION
<br />SECURITY AGREEMENT and that it does or will secure an obligation which the Borrower has or will incur for the purpose of making an
<br />improvement on property hereinbefore described.
<br />which has the address of 110TH & LOUP ROAD CAIRO
<br />Street City
<br />Nebraska 68824 ( "Property Address ");
<br />Zip Code
<br />TOGETHER WITH all improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or
<br />hereafter a part of the property. All replacements and additions shall be covered by this Security Instrument. All of the foregoing is referred
<br />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 to grant and convey the
<br />Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to
<br />the Property against all claims and demands, subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by
<br />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 and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<br />principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender
<br />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
<br />which may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments or ground rents on the
<br />Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance
<br />premiums, if any; and (f) any sums payable by Borrower to Lender, in accordance with the provisions of paragraph 8, in lieu of the payment
<br />of mortgage insurance premiums. These items are called "Escrow Items." Lender may, at any time, collect and hold Funds in an amount
<br />NEBRASKA - Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Page 1 of 5 Form 3028 9/90
<br />F8248.LM0 (1/93)
<br />201191
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<br />(Space Above This Line For Recording Data]
<br />DEED OF TRUST
<br />AND CONSTRUCTION SECURITY AGREEMENT
<br />�ol
<br />THIS DEED OF TRUST ( "Security Instrument ") is made on August 18th 2000 The trustor is
<br />MICHAEL P KERBY AND LUCILLE M KERBY , HUSBAND AND WIFE
<br />( "Borrower "). The trustee is
<br />GARY W. WRIGHT, A LICENSED REAL ESTATE BROKER 2411 S. 133RD PLAZA OMAHA NE 68144
<br />( "Trustee "). The beneficiary is
<br />MORTGAGE LOANS OF AMERICA. LLC , which is organized and
<br />existing under the laws of NEBRASKA and whose address is 2407 SOUTH 133RD
<br />PLAZA OMAHA, NE 68144 ( "Lender "). Borrower owes Lender the principal sum of
<br />One Hundred Eighty Eight Thousand Two Hundred Fifty and 00/100 Dollars
<br />(U.S.$ 188,250.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which
<br />provides for monthly payments, with the full debt, if not paid earlier, due and payable on September 1, 2001 . This Security
<br />Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and
<br />modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this
<br />Security Instrument; and (c) the performance of Borrower's covenants and agreements. For this purpose, Borrower irrevocably grants and
<br />conveys to Trustee, in trust, with power of sale, the following described property located in HALL County, Nebraska:
<br />SEE ATTACHED
<br />It is understood by the Borrower and Lender that this instrument, which is secured by the above referred property is a CONSTRUCTION
<br />SECURITY AGREEMENT and that it does or will secure an obligation which the Borrower has or will incur for the purpose of making an
<br />improvement on property hereinbefore described.
<br />which has the address of 110TH & LOUP ROAD CAIRO
<br />Street City
<br />Nebraska 68824 ( "Property Address ");
<br />Zip Code
<br />TOGETHER WITH all improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or
<br />hereafter a part of the property. All replacements and additions shall be covered by this Security Instrument. All of the foregoing is referred
<br />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 to grant and convey the
<br />Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to
<br />the Property against all claims and demands, subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by
<br />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 and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<br />principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender
<br />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
<br />which may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments or ground rents on the
<br />Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance
<br />premiums, if any; and (f) any sums payable by Borrower to Lender, in accordance with the provisions of paragraph 8, in lieu of the payment
<br />of mortgage insurance premiums. These items are called "Escrow Items." Lender may, at any time, collect and hold Funds in an amount
<br />NEBRASKA - Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Page 1 of 5 Form 3028 9/90
<br />F8248.LM0 (1/93)
<br />201191
<br />
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