|
: � 99a�(��148
<br /> � TO SECURE to Lender the repayment of the indebtedness evidenced by Borrower's note dated May 12, 1999
<br /> and extensions and renewals thereof (herein "Note"►, in the principal sum of U.S. 557,550.00 , with interest thereon, providing for
<br /> month�y instaliments of principal and interest, with the balance of the indebtedness, if not sooner paid, due and payable on
<br /> May 25, 2014 ; the payment of all other sums, with interest thereon, advanced in accordance herewith to protect the security
<br /> of this Deed of Trust; and the performance of the covenants and agreements of Borrower herein contained.
<br /> Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property,
<br /> and that the Property is unencumbered except for encumbrances of record except for a lien granted by Borrower to Contractor and hereby
<br /> assigned by Contractor to Lender. Borrower covenants that Borrower warrants and will defend generally the title to the Property against all
<br /> 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 the
<br /> Note and late charges as provided in the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to Lender on the day
<br /> monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth
<br /> of the yearly taxes and assessments (including condominium and planned unit development assessments , if any) which may attain priority over
<br /> this Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, plus
<br /> one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender
<br /> on the basis of assessments and bilis and reasonable estimates thereof. Borrower shall not be obligated to make such payments of Funds to
<br /> 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 institutional
<br /> 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 guaranteed
<br /> by a federal or state agency (including Lender if Lender is such an institution►. Lender shall apply the Funds to pay said taxes, assessments,
<br /> insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and
<br /> compiling said assessments and bilis, unless Lender pays Borrower interest on the Funds applicable law permits Lender to make such a charge.
<br /> Borrower and Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br /> and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest
<br /> or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the
<br /> Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this
<br /> Deed of Trust.
<br /> If the amount of the Funds held by the Lender, together with the future monthly instal�ments 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 installments 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 one or
<br /> more payments as Lender may require.
<br /> Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lender.
<br /> If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately -
<br /> prior to the sale of the Property or its acquisition by Lender, any funds held by Lender at the time of application as a credit against the sums
<br /> secured by this Deed of Trust.
<br /> 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and -
<br /> paragraphs 1 and 2 hereof shali be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then
<br /> to interest payable on the Note, and then to the principal of the Note.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under any mortgage,
<br /> deed of trust or other security agreement with a lien which has priority over this Deed of Trust, including Borrower's covenants to make
<br /> payments when due. Borrower shall pay or cause to be paid all taxes, assessments and other charges, fines and impositions attributable to the
<br /> Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any.
<br /> 5. Hazard Insurance. Borrower shall keep the improvemenis now existing or hereafter erected on the Property insured against loss by
<br /> fire, hazards included within the term "extended coverage," and such other hazards as Lender may require and in such amounts for such periods
<br /> as Lender may require.
<br /> The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval
<br /> shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form acceptable to Lender and shall include a
<br /> standard mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br /> subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br /> In the event of loss, Borrower shall give prompt notice to the insurance carrier and lender. Lender may make proof of loss if not made
<br /> promptly by Borrower.
<br /> If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by
<br /> Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the
<br /> insurance proceeds at Lenders option either to restoration or repair of the Property or to the sums secured by this Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leasehold; Condominiums; Planned Unit Developments. Borrower shall keep the
<br /> Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of
<br /> any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br /> shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit
<br /> develo ent, the by-laws and regulations of the condominium or planned unit development, and constituent documents.
<br /> App # 99-0000617
<br /> Initials: Initials:� Initials: Initials:
<br /> NEBRASKA-Second Mortgage- 1/80-FNMA/FHLMC UNIFORM INSTRUMENT-Form 3828 (Page 2 of 5)
<br /> Management Systems Development,Inc. (800) 984-6060 Loan fnergizer!T"' JtNE_DEED Copyright(c) 7994
<br />
|