|
m Q
<br />2".190001
<br />TRUST D=
<br />THIS DEED OF TRUST is made on October da, 2002. The Trus for is Bradley
<br />K. Henke, ( "Borrower ") . The Trustee is Denise D. Myers, of Lauritsen, Brownell, „l
<br />Brostrom, Stehlik, Thayer 6 Myers, 724 W. Koenig Street, Grand Island, Nebraska
<br />68801, ( "Trustee ") . The beneficiaries are Wayne J. Sasges and Sharilyn L.
<br />Sasges, husband and wife, 1703 Columbia Circle, Grand Island, Nebraska, 68801,
<br />( "Lender "). Borrower owes Lender the principal sum of Thirty Seven Thousand
<br />Thirty Two and 22/100 Dollars ($37,032.22). This debt is evidenced by Borrower's
<br />note dated the same date as this Security Instrument ( "Note ") , which provides for
<br />monthly payments. The Deed of Trust (sometimes referred to herein as "security
<br />instrument ") secures to Lender: (a) the repayment of the debt evidenced by the
<br />Note, with interest, and all . renewals, extensions and modifications; (b) the
<br />payment of all other sums, with interest, advanced to protect the security of
<br />this Security Instrument; and (c) the performance of Borrower's covenants and
<br />agreements. For this purpose, Borrower irrevocably grants and conveys to
<br />Trustee, in trust, with power of sale, the property at 1710 N. Broadwell, units
<br />1 -5, Grand Island, Nebreaska, and legally described as:
<br />Lots One Hundred Seventeen (117), and One Hundred Eighteen (118),
<br />Westlawn Addition to the City of Grand Island, Hall county,
<br />Nebraska.
<br />TOGETHER WITH all the improvements now erected on the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights
<br />and profits, water rights and stock and all fixtures now or hereafter a part of
<br />the property. All of the foregoing is referred to in this Security Instrument
<br />as the "Property ".
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby
<br />conveyed and has the right to grant and convey the Property. Borrower warrants
<br />and will defend generally the title to the Property against all claims and
<br />demands, subject to any encumbrances of record.
<br />COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges.
<br />Borrower shall promptly pay when due the principal of and interest on the debt
<br />evidenced by the Note and any prepayment and late charges due under the Note.
<br />Prepayment of principal and interest, or any part thereof, shall be allowed
<br />without penalty.
<br />2. Charges; Liens. Borrower shall pay all real estate taxes and
<br />assessments attributable to the Property which may attain priority over this
<br />Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall promptly discharge any lien which comes into effect after
<br />the signing of this document and which has priority over this Security Instrument
<br />unless: (a) Borrower agrees in writing to the payment of the obligation secured
<br />by the lien in a manner acceptable to Lender; (b) contests in good taith the lien
<br />by, or defends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion operate to prevent the enforcement of the lien or forfeiture of
<br />any part of the Property; (c) secures from the holder of the lien an agreement
<br />satisfactory to Lender subordinating the lien to this Security Instrument; or (d)
<br />secures from Lender an agreement subordinating the lien to the new debt
<br />obligation of Borrower.
<br />3. Protection of Lender's Rights in the Property; Mortgage Insurance. If
<br />Borrower fails to perform the covenants and agreements contained in this Security
<br />Instrument, or there is a legal proceeding that may significantly affect Lender's
<br />rights in the Property (such as a proceeding in bankruptcy, probate, for
<br />condemnation or to enforce laws or regulations), then Lender may do and pay for
<br />whatever is necessary to protect the value of the Property and Lender's rights
<br />in the Property. Lender's actions may include paying any sums secured by a lien
<br />which has priority over this Security Instrument, appearing in court, paying
<br />
|