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<br />THIS INSTRIMT CONSTITUTES A CONSTRUCTION SECURITY INTEREST UNDER THE NEBRASKA
<br />CONSTRWTION LIEN ACT.
<br />(Spree AMva ors IJrn For Re"I'I Mr{ Waal
<br />DEED OF TRUST
<br />_ THISDEEDOFTRUST ( "Security Instrument") is made on October 16, ,
<br />19 90 . The trustor is Steven A. Stec and Rebecca J. Stec, each in his and her -3 -in right,
<br />and as spouse of each other ("Borrower"). The trustee is Earl D. Ah.1schwede, Attorney
<br />( "Trustee "). The beneficiary is
<br />The Equitable Building and Loan Association ,which is organized and existing
<br />under the laws of State of Nebraska , and whose address is 113 -115 North Locust
<br />Street, Grand Island,,.Nebraska ("Lender").
<br />Borrower owes Lender the principal sum of One Hundred Fifty Thousand and no/1120 --------------
<br />--------------------------- - Dollars (U.S. S 150,000.00 )• This debt is er.idenced by Borrower's note
<br />dated the same date as this Security Instrument ("Note"), which providcs for monthly payments, with the full debt, if not
<br />paid curlier, due and payable ow as evidenced by the note.
<br />This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note. with interest, and all
<br />renewals, extensic.my and modifications; (N %be payment of all other sums, with interest, adcan.:ed under paragraph 7 to
<br />protect the securiry of this Security Instrument; and (c) the performance of Borrower's covenants and agreements. For this
<br />purpose, Borrower irrevocably grants and conveys to Trustee. in trust, with power of sale, the following described property
<br />located in Hall County, Nebraska:
<br />Lot Four (4), Regency By The Green Second Subdivision to the City of Grand
<br />Island, Hall County, Nebraska,
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<br />which has the address of 2318 Stage coach Road Grand I�� and
<br />troet) Nebraska 68801 ( "Property Address "►:
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<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights,
<br />appurtenances, rents, royalties. mineral, oil and gas rights and profits, water rights and stock and all fixtures now or
<br />hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the
<br />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 to grant
<br />anJ convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants
<br />and will defend generally the title to the Property against all claims and demands, subject ai any encumbrance.. of record
<br />THIS SECUR11Y INSTRUME.NI combines uniform covenants for national u%c and non•urrrtornr col%enants with
<br />limited variattonsby jurisdictiontoconsututea umt'orm security instrument covenng real propet1%
<br />NEBRASKA - .y,nNte 1 om,ly- FNMA /FNLatC UNIFORM INSTRUMINI
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<br />which has the address of 2318 Stage coach Road Grand I�� and
<br />troet) Nebraska 68801 ( "Property Address "►:
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<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights,
<br />appurtenances, rents, royalties. mineral, oil and gas rights and profits, water rights and stock and all fixtures now or
<br />hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the
<br />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 to grant
<br />anJ convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants
<br />and will defend generally the title to the Property against all claims and demands, subject ai any encumbrance.. of record
<br />THIS SECUR11Y INSTRUME.NI combines uniform covenants for national u%c and non•urrrtornr col%enants with
<br />limited variattonsby jurisdictiontoconsututea umt'orm security instrument covenng real propet1%
<br />NEBRASKA - .y,nNte 1 om,ly- FNMA /FNLatC UNIFORM INSTRUMINI
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