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<br /> 99 1115 �. 4
<br /> [Space Above This Line for Fecording Data� �
<br /> FHA Case No. �
<br /> State of Nebraska DEED OF TRUST 321-2033237 �
<br /> �
<br /> THIS DEED OF TRUST ("Security InstrumenY') �s made on December 3rd , 1999
<br /> Tne truscor is Derek A. Dreher and Brenda S. Milne Unmarried Persons
<br /> ("Borrower").
<br /> Tne trustee �s National Bank of Commerce Trust and Savings Association 13th � 0 Streets,
<br /> Lincoln NE 68508 ("Trustee").
<br /> The beneficiary �s The Overland National Bank of Grand Island
<br /> which is organized and existing under the laws of The United States of America , and whose address is
<br /> 304 West Third Street Grand Island NE 68801 �°Lender"�. ,
<br /> Borrower owes Lender the principal sum of Eiqhtv Two Thousand Nine Hundred and 00/100
<br /> Dollars (U.S. $ 82,900.00 ). This debt is evidenced by Borrower's note
<br /> dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid
<br /> earlier, due and payable on J811U81'y 1, 2030 . This Security Instrument secures to Lender: (a) the repayment
<br /> of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of
<br /> all other sums, with interest, advanced under paragraph 6 to protect the security of this Security Instrument; and (c) the
<br /> performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower
<br /> irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in
<br /> Hall County; Nebraska:
<br /> The Westerly Thirty-three (W33') of Lot Thirteen (13) and the Easterly Twenty-six (E26') of Lot
<br /> Twelve (12) in Block Three (3), in Cunningham Addition to the City of Grand Island, Hall County,
<br /> N ebraska.
<br /> which has the address of 2318 Vanderqrift Grand Island
<br /> �sveec� �c��yl,
<br /> Nebraska 68803 ���Property Address°>;
<br /> �s,ate�
<br /> �Zip Code)
<br /> TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
<br /> foctures now or hereafter a part of the property. All replacements and additions shall be covered by this Security Instrument. All
<br /> of the foregoing is referred to in this Security Instrument as the "Property",
<br /> BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and
<br /> convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will
<br /> defend generally the title to 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
<br /> variations by jurisdiction to constitute a uniform security instrument covering real property.
<br /> Borrower and Lender covenant and agree as follows:
<br /> UNIFOFiM COVENANTS.
<br /> 1. Payment of Principal, Interest and Late Charge. Borrower snau pay when due the principal of, and interest
<br /> on, the debt evidenced by the Note and late charges due under the Note.
<br /> 2. Monthly Payment of Taxes, Insurance, and Other Charges. Borrower shall include �n eacn monthly
<br /> payment, together with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special
<br /> assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c)
<br /> premiums for insurance required under Paragraph 4. In any year in which the Lender must pay a mortgage insurance premium to
<br /> the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been required
<br /> if Lender still held the Security Instrument, each monthly payment shall also include either: (i) a sum for the annual mortgage
<br /> insurance premium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premium if
<br /> this Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the
<br /> monthly charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow
<br /> Funds."
<br /> F5813.LMG (2/99) Page 7 of 5
<br /> 99745
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