|
� �+, .
<br /> � ;e gg�O�V��
<br /> This instrument was prepared by:
<br /> Lisa Galardi
<br /> GMAC Mortgage Corporation
<br /> 100 Witmer Road
<br /> Horsham,PA 19044-0963
<br /> Closed End Loan No.: 1451947 �
<br /> Branch No.: 829
<br /> Loan Product: 90%CLTV Closed End Piggyback �r
<br /> CLOSED END DEED OF TRUST
<br /> THIS DEED OF TRUST is made this 6th day of�, 1999, among the Trustor, Jeffrey C King And Angelita M King,
<br /> Husband And Wife whose address is 2125 N. Lafayette , Grand Island, Nebraska 68803 (herein 'B�rrower"), Chicago Title Insurance
<br /> Company, 625 West Ridge Pike, Conshohocken, PA 19428 (herein "Trustee"), and the Beneficiary, GMAC Mortgage Corporation a
<br /> corporation organized and existing under the laws of Pennsyivania whose address is 100 Witmer Road, Horsham, PA 19044-0963
<br /> (herein"Lender").
<br /> Borrower, in consideration of the indebtedness herein recited and the trust herein created, irrevocably grants and conveys to
<br /> Trustee,in trust,with power of sale,the following described property located in the County of Hall, State of Nebraska.
<br /> See Attached Schedule A
<br /> which has the address of: 2125 N.Lafayette, Grand lsland
<br /> (Street) (Crty)
<br /> Nebraska 68803 (herein "Property Address");
<br /> (Zip Code)
<br /> TOGETHER with all the improvements now or hereafter erected on the property,and all easements, rights, appurtenances and rents
<br /> (subject however to the rights and authorities given herein to lender to collect and apply such rents), all of which shall be deemed to be
<br /> and remain a part of the property covered by this Deed of Trust;and all the foregoing,together with said property(or the leasehold estate
<br /> if this Deed of Trust is on a leasehold)are hereinafter referred to as the"Property';
<br /> TO SECURE to Lender the repayment of the indebtedness evidenced by Borrower's Note dated May 6, 1999 and extensions and `
<br /> renewals thereof(herein "Note"), in the principal sum of U.S. $10,800.00, with interest thereon, providing for monthly installments of
<br /> principal and interest,with the balance of the indebtedness if not sooner paid due and payable on May 10, 2004,the payment of all other
<br /> sums, with interest thereon, advanced in accordance herewith to protect the security of this Deed of Trust: and the performance of the
<br /> covenants and agreements of Borrower herein contained.
<br /> Borrower covenants that Borrower is lawfully seised af 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 covenants that Borrower warrants and
<br /> will defend generally the title to the Property against all claims and demands,subject to encumbrances of record.
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness evidenced by
<br /> the Note and late charges as provided in the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or a waiver by Len�er, Borrower shall pay to lender on the N/A
<br /> day of each month, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of.the yearly taxes and assessments
<br /> (including condominium and planned unit development assessments, if any)which may attain priority over this Deed of Trust and ground
<br /> rents on the Property, if any, plus one-twelfth of yearly premium instaliments for hazard insurance, plus one-twelfth of yearly premium
<br /> installments for mortgage insurance, if any, all as reasonzble estimates thereof. Borrower shall not be obtigated to make such payments
<br /> of Funds to Lender to the extent that Borrower makes such payments to the holder of a prior mortgage or deed of trust if such holder is an
<br /> institutional lender.
<br /> If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or
<br /> guaranteed by a Federal or State agency(including Lender if lender is such an institution). Lender shall apply the Funds to pay said taxes,
<br /> assessments, insurance premiums and ground rents. Lender may not charge for so holding and apptying the Funds, analyzing said
<br /> account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br /> permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Deed of Trust that
<br /> interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest to be paid,
<br /> Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an
<br /> annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made.
<br /> The Funds are pledged as additional security for the sums secured by this Deed of Trust.
<br /> If the amount of the Funds held by Lender,together with the future monthly installments of Funds payable prior to the due dates of
<br /> taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance
<br /> premiums and ground rents as they fall due, such excess shall be, at Borrower's option,either promptly repaid to Borrower or credited to
<br /> Borrower on monthly instaliments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments,
<br /> insurance premiums and ground rents as they fall due, Borrower shall pay to lender any amount necessary to make up the deficiency in
<br /> one or more payments as Lender may require.
<br /> NEBRASKA-SECOND MORTGAGE-1/80-FNMA/FHLMC UNIFORM INSTRUMENT(8027C)
<br />
|