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<br /> Md�ot�wo�l{rp,(Yl Ilw pwrt ot�M proridrd bt G tlw 1M OMO}rov1AM wiM�ir1Y�r�t rl�b�°M�°Y b IY Tn�Na�
<br /> tlun�nartt�e�0 the cvent of�detlmk ar bierJ�otaNipebn.'11M'(Yw1on MMwr�p.'r�t+M+/�iMl ltiit aMYM�IM�Iw Mr��l
<br /> ar/naabd M oo�lalo�wMM.MR�rlot�o.1Yr'IhMOd onoMla ol�M�011o�i�Tmt D�.
<br /> � �� �abruary 16 ,�ygq
<br /> �.ka Nebreska ►
<br /> _ �
<br /> c.nq.t Hall �
<br /> _ _,_ 71w toa�ofa�Wwwaeot wr KJrnowted�ed,wbscribed nd�w�om to betaro�w tMis_.�'eh dtY of Febr�er�
<br /> Bryen R. Phelps and
<br /> . �9 94 .by Karen A. PFLi i��_aec�a�a,Ne� �
<br /> � ,�_ �
<br /> .,��',�y'� i�l�TAAY-SW�N Mlruh ou�y Puwla
<br /> � .• ' • '- �r�tuaTnuun NICIIOLASJ'BMTA
<br /> ; .;d,>. '.`.�cY#!►- ' — IAr Oe�m.ErR M�y 31�1996
<br /> � ,�-r�:����'�?:� rwsnsenoFrrtusrbm.aea► e ruary 16 .t9 9.4'n�e'rn�ao�s.rc Bry�n R Phelos end
<br /> � ���� Keren A Ph�ps Husbend ena�fe .(•so�ower�•'rne'rnweo n�n•,�nwea�•�aann'+�
<br /> � '.,; . . : ;: 309 w. 7ad stioet�clnuid L1rd. NebraYri 6ii0t.
<br /> � Law� ('TnWee•). 71a brneflairy i�the(hand iclaad Arca Housini�P�.
<br /> ,... : '.x � of
<br /> ' . . • `�� •eri � 58Y�Bi W� F]fty �11ffi8 8d 1'1D�1aI (10.75U.�) .1'ht�debt Is eVidp�ced by Boft'nv�►s�
<br /> . . Y f note dated qb wne date n this Searity tnp:ument('Note�)�wl�ich pto�ida fat R tixed p�yment flee ye�8om the d�te heroof.'Ifie Secuity
<br /> �..�'S:"�'�`. , . ,,:. ,..: lnswment:auces w Lenders:(a)the rcpayniait of the debt evidenood by the Nou�with intaes4 nd all rcnewai�,extee�lons�nd
<br /> .- .,. _ . , modiflckions:(b)the PaYment of all other wm�.wlth interest,adwnced undet qra�rph 7 W pwect tho seauity oP thb Saurity lastnunau:
<br /> ;.'k�s2 i�;.�.::'�.: '� �nd(c)the Pafomw�oe of Borrowen'eoreamt�md apeanean.Fa th4 qupose�8arowen icrovoeably�nt and convey to Trustoe�in trwt.
<br /> - ------- wilh power of wle.tht followin�descdbed ptopaty:
<br /> . . Lot Five (5) Pleasant View 10th Subdivision to the City of Gre�d Island,
<br /> , � Hell County, Nebraska.
<br /> . 7'hemailin��ddrasoftheborrowenis 1110 S Pleasant View Drive. Grand Island, NE .68801-8022
<br /> w. TOGEI7IER WI'fH�I the improvement,ti now or herc�itcr crceted on the property.�nd all eaumenq,riQhts.�ppWtenu�ea.►rnts 4
<br /> and tixturcs hercafter a pWt of ihe property.All rcpluements md�ddidons�hali dso be covaed by th4 Security laarupent.All of the '
<br /> � ., . fore{oin�is rcfemed to in thb Seciuity Inswrnent as the'PropertY'.
<br /> i, .
<br /> :'� " BORROWERS COVENANT thu Hotrow•en ue I�wPoity seiud of ihe atate hercby conveyed and havo the ri�ht tn�nnt nd
<br /> convey the Propeety uid ihu the Property is unencumbercd,exupt for encumDnness of raord.Bomowen w�tmt and will defeod;enenUy
<br /> the Qqe w ihe PtopertY+�dnst vl cidm�md dertundc.wbject w my encumbnnces of record,
<br /> COVE'NAN7'S. Bortowero md Lenden covenmt md�ree as foliowi:
<br /> 1. Payment of Princip�t and Intercsr,Papayment and I.atc Chugcs.Borrowcrs shall ptanpUy pay when due the prtncipl of tbe
<br /> . debt evidenced by Ne Note and my prepeyment and I�te characs due under the Note.
<br /> ` 2. Funds for Taxes ond Insuronce.All reol esLte t�ces ond insuronce sholl be pald by Borrowert when due.
<br /> , 3.Char�a;Uens.Borrowea shdl p�y�II wccs,uscssmcnts,chuga,8nes�nd Imposittons�taibupble w the Propecty whieh may
<br /> �ttain prlotity over this Sewrity Instrumcnt,and Ieauhoid paymentv or ground rcnu, if my.Borrowers sh�11 p�y these obli�Mioiu in the
<br /> manncr provided in poragnph 2,or if not pafd in thu mannar,Borrowcrs shall piy them on Amc dirccpy ro 1he person owed piyma�t
<br /> � Bortowen shdl ptompQy fumish to Lenders ali�wtices of amounts to be p�id under this par�raph.If Botcowus mtke UKSe qymenit diradly,
<br /> � Bortowen shW prompUy fUmish to Lcnders rcccipts cvidcncing the payments.
<br /> -• Bortowen sh�ll promptly dischvge any licn whfch hu priorih•over thfs Securiry Inswmcnt(cxcluding my flrst dad of Wst)
<br /> � unless Bortowtrs:(a)agrcc in writing to the paymcnt oFihc obligation sccurcd by the Ikn In t manncr�ccepuble to L.ender,(b)wnhst In Qaod
<br /> •, � faith the Iine by,or deknd agdnst enforccmcnl of lhc tien in,legai ptocadings which in the Lendcn'opinlon opente w prcvent the
<br /> cnforcemcnt of thc Iicn or(orfciturc of any put of thc Propct[y;ar(c)sccurc from tix ho�dcr of ihc Ilen an sgreement sYfsficGory W Lenden
<br /> � . subordin�tine ihc lien to this Sccurity(nshumcnt. If Lcndcrs dctermine ihat any pyt of ihc Property is subJea to a Ikn which tmy aWin
<br /> • priority over this Secudry Instrumen4 Lenders mry give Bonnwers a notice identifying tttt Ilen.9orruwen shilt sstisf�the lkn or nice one or
<br /> ; more of the actbns ut fonh sbove withie IO days of thc giviog of notice. __
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<br /> ' 4. Ilazard Insunnce. Borrowers shall keep the imptovemen�s now•existing or hercafter crccted on the Propetty insurcd�dnst loss
<br /> . by 6rc,hazuds inciuded within ihe krm'extendcd covengc':md�ny othcr hvuds for v`hich Lcndca requirc insurana.This insunnce sh�lt
<br /> be m�Inuincd in ihc amounLs md for thc periods that Lendcrs rcqulrc.�he msurmce cvricr providine the insurana sluii be chusen by �
<br /> ' Bortorero subject to Lenders'approvai whiCh shail twl be unrcasonably withhcid. �
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<br /> � All insuronct nolicies and renewals shill 6e�ccnmhie tn t enders and chdl include a sundard morta�at Clause.l.etlden Shall hWe �.
<br /> thc right to hold the policics and rcnewats.If Lenden rcyuirc.Bomowen sh�il promptly givc to lendetx dl rcceipts of p�id prcmiums�nd �
<br /> • micwd notices.In thc crent of bss.Bortuxcrs sha{{gi�c prompt noticc to the insurncc urtirr md l.emfers.Lenders m�y m�ke proo!of loss t
<br /> � if nut m�de prompUy by .
<br /> • I;ORONYR.
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<br /> �� � Unlas Lenden md Bortnwcn othcrnise agrcc in w�idng.insurxice procceds shdl t+c applicd tu rcstondon a rep�Ir of the PropeAy
<br /> � damaged, if�he mtontlon or rcpatr is econimdc�lly leasible and Lenders'xcwiry is nut Iessened if tlx rcstorxion ur rcp�ft is not
<br /> economlally kufblc or Lenden'acwrity wou�d bc Icsscncd,the insur�ncc pnx:ccds�h�ll bc opplicJ W thc sums securcd bv this Securiq
<br /> , (nsWmen�NAethcr or not thcn duc,with any etcess pild t��DoROwcrs.lf Burtowcrs�bandon the pru{xch,or do not answcr w•ithin JO da}s a
<br /> notke tiom I.eeders th�t the insunnce carrkr hu offercd W settle a clsim,then 4cnden auy collect the Insurynce ptocads.Lrnden may use
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