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DEFINITIONS
<br />Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain
<br />rules regarding the usage of words used in this document are also provided in Section 16.
<br />(A) "Security Instrument" means this document, which is dated April 11, 2003, together with all Riders to this document.
<br />(B) "Borrower" is Michael D. Kemling and Susan A. Kemling; Husband and Wife. Borrower is the trustor under this Security Instrument.
<br />(C) "Lender" is Cornerstone Bank N.A. Lender is a Corporation organized and existing under the laws of Nebraska. Lender's address is Aurora
<br />Facility, 1205 11th Street, P.O. Box 386, Aurora, NE 68818. Lender is the beneficiary under this Security Instrument.
<br />(D) "Trustee" is CENTRAL NATIONAL BANK .
<br />(E) "Note" means the promissory note signed by Borrower and dated April 11, 2003. The Note states that Borrower owes Lender Eighty -seven
<br />Thousand & 00/100 Dollars (U.S. $87,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the
<br />debt in full not later than May 1, 2018.
<br />(F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property."
<br />(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums
<br />due under this Security Instrument, plus interest.
<br />(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower
<br />[check box as applicable]:
<br />Adjustable Rate Rider Condominium Rider Second Home Rider
<br />aBalloon Rider Planned Unit Development Rider Other(s) [specify]
<br />1 -4 Family Rider Biweekly Payment Rider
<br />(1) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and
<br />orders (that have the effect of law) as well as all applicable final, non - appealable judicial opinions.
<br />(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on
<br />Borrower or the Property by a condominium association, homeowners association or similar organization.
<br />(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument,
<br />which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial
<br />institution to debit or credit an account. Such term includes, but is not limited to, point -of -sale transfers, automated teller machine transactions,
<br />transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(L) "Escrow Items" means those items that are described in Section 3.
<br />(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than
<br />insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other
<br />taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and /or
<br />condition of the Property.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under
<br />Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its implementing regulation, Regulation X (24
<br />C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same
<br />subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally
<br />related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(0) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's
<br />obligations under the Note and /or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to Lender; (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the
<br />performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants
<br />and conveys to Trustee, in trust, with power of sale, the following described property located in the County of Hall:
<br />Real Property tax identification number is 400051249.
<br />Lot 5, Block 6, Kay Dee Subdivision, City of Grand Island, Hall County, Nebraska
<br />which currently has the address of 1816 Roberta Avenue, Grand Island, Nebraska 68803 ( "Property Address "):
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or
<br />hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred
<br />to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property
<br />NEBRASKA - Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form 30281/01
<br />Page 1 of 6
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<br />WHEN RECORDED MAIL TO:
<br />Cornerstone Bank N.A.
<br />200304545
<br />Aurora Facility
<br />1205 11th Street
<br />P.O. Box 386
<br />Aurora, NE 68818
<br />[Space Above This
<br />Line For Recording Data]
<br />DEED
<br />OF TRUST
<br />DEFINITIONS
<br />Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain
<br />rules regarding the usage of words used in this document are also provided in Section 16.
<br />(A) "Security Instrument" means this document, which is dated April 11, 2003, together with all Riders to this document.
<br />(B) "Borrower" is Michael D. Kemling and Susan A. Kemling; Husband and Wife. Borrower is the trustor under this Security Instrument.
<br />(C) "Lender" is Cornerstone Bank N.A. Lender is a Corporation organized and existing under the laws of Nebraska. Lender's address is Aurora
<br />Facility, 1205 11th Street, P.O. Box 386, Aurora, NE 68818. Lender is the beneficiary under this Security Instrument.
<br />(D) "Trustee" is CENTRAL NATIONAL BANK .
<br />(E) "Note" means the promissory note signed by Borrower and dated April 11, 2003. The Note states that Borrower owes Lender Eighty -seven
<br />Thousand & 00/100 Dollars (U.S. $87,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the
<br />debt in full not later than May 1, 2018.
<br />(F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property."
<br />(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums
<br />due under this Security Instrument, plus interest.
<br />(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower
<br />[check box as applicable]:
<br />Adjustable Rate Rider Condominium Rider Second Home Rider
<br />aBalloon Rider Planned Unit Development Rider Other(s) [specify]
<br />1 -4 Family Rider Biweekly Payment Rider
<br />(1) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and
<br />orders (that have the effect of law) as well as all applicable final, non - appealable judicial opinions.
<br />(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on
<br />Borrower or the Property by a condominium association, homeowners association or similar organization.
<br />(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument,
<br />which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial
<br />institution to debit or credit an account. Such term includes, but is not limited to, point -of -sale transfers, automated teller machine transactions,
<br />transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(L) "Escrow Items" means those items that are described in Section 3.
<br />(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than
<br />insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other
<br />taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and /or
<br />condition of the Property.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under
<br />Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its implementing regulation, Regulation X (24
<br />C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same
<br />subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally
<br />related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(0) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's
<br />obligations under the Note and /or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />This Security Instrument secures to Lender; (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the
<br />performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants
<br />and conveys to Trustee, in trust, with power of sale, the following described property located in the County of Hall:
<br />Real Property tax identification number is 400051249.
<br />Lot 5, Block 6, Kay Dee Subdivision, City of Grand Island, Hall County, Nebraska
<br />which currently has the address of 1816 Roberta Avenue, Grand Island, Nebraska 68803 ( "Property Address "):
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or
<br />hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred
<br />to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property
<br />NEBRASKA - Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form 30281/01
<br />Page 1 of 6
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