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RE- RECORDER 200212627
<br />200304845 LOAN Y1 E0088363
<br />Trust and the Agreement For nub° plil- a and inconsideration ofthe debt, you irrevocably grant and convey to the Trustee, in trust,
<br />with power of sale, the following described property located in Nall "'�"+ County, Nebraska:
<br />See legal description attached hereto and made a part hereof.
<br />AP Ill 400 - 085 -437
<br />whichhaslheaddiessof 816 Nest 4th Street, Grand Island,
<br />Nebraska 68801 ( °P ... peoy Address" y
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances,
<br />and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Deed of Trust. All
<br />of the foregoing is referred to in this Deed mf Trust as the "Property."
<br />YOU COVENANT that you are lawfully seized of the estate hereby conveyed and have the right to mortgage, grant and convey
<br />the Property and [list the Property is unencumbered, except for encumbrances of record. You warrant and will defend generally the
<br />title to lice Properly against all claims and demands, subject to any encumbrances of record.
<br />YOU AND WE covenant and agree as follows:
<br />1. Payment of Principal, Interest and Other Charges. You shall pay when due the principal and interest owing under the
<br />Agreement and all other charges due hereunder and due under the Agreement.
<br />2. Application of Payments. Unless applicable law provides otherwise, all pay merits received by us under the Agreement and
<br />Section I shall be applied by as as provided in the Agreement.
<br />3. Prior Mortgages; Charges; Liens. You have disclosed to wand obtained our approval of any mortgage, deed of trust or other
<br />security agreement with a lien which bas priority over this Deed of Trust. You shall perform all of your obligations under any mortgage,
<br />deed oftmstorother security instruments with a lien which has priori ty overthis Deed of lust, including your covenants to make payments
<br />when day. You shall pay all taxes, assessments, charges, fines and impositions attributable in the Property which may stain priority o'er
<br />this Deed ofTnrst, and leasehold payments or ground rents, if my, Upon am request, you shall promptly fitmishto us all ouncesofamounts
<br />lobe paid msderthispamgraph and receipts evidencingany suchpaymentsyou makcdireclly. You shall promptlydischarge anylien (other
<br />than alien disclosed to us in your application or in any tide report we obtained) which has priority over this Decd of Trust,
<br />If applicable law authorizes us to do so, we specifically reserve to ourself and our successors and assigns the unilateral right, upon
<br />an event of default in payment of taxes, assessments or insurance on the Property, to require, upon notice, that you pay to us on the
<br />day monthly payments are due an amount equal to one - twelfth (1/12) of the yearly taxes, and assessments (including condominium
<br />and planned unit development assessments, if any) which may atmin priority over Out s Deed ofTrust and ground rents on the Property,
<br />if any, plus one- twelfth (1/12) of yearly premium installments for hazard and mortgage insurance, all as we reasonably estimate
<br />initially and from time to time, as allowed by and in accordance with applicable law.
<br />4. Hazard Insurance. You shall keep the Property insured against loss by fire, hazards included within the term "extended
<br />coverage- and any other hazards, including floods or Flooding, for which we require insurance. This insurance shall be maintained
<br />in the amounts and for the periods that we require. You may choose the insurer to provide this coverage. Insurance policies and
<br />renewals shall be acceptable to us and shall include a standard mortgagee clause. If we require, you shall promptly give us all receipts
<br />of paid premiums and renewal notices. If you fail to maintain coverage as required in this section, you authorize us to obtain such
<br />coverage as we in our sole discretion determine appropriate to protect our interest in the Property in accordance with the provisions
<br />in Section 6. You understand and agree that any coverage we purchase may cover only our interest in the Property and may not cover
<br />your interest in the Property or any personal property therein. You also understand and agree that the premium for any such insurance
<br />maybe higher than file premium you would pay for such insurance. You shall promptly notify the insurer and us ofany loss. Wemay
<br />make proof of loss if yon do not promptly do so.
<br />We may also, at our option and oil your behalf, adjust and compromise any claims under the insurance, give releases or
<br />acquittances to the insurance company in connection with the settlement of any claim and collect and receive insurance proceWs.
<br />Youappoinl us as yourattorney- in- Luc(todoall ofthe foregoing, which appointment you understand and agree is irrevocable, coupled
<br />with an interest with full power of substitution and shall not be affected by your subsequent disability or incompetence.
<br />Insurance proceeds shall be applied to restore of repair the Property damaged, if restoration or repair is economically feasible
<br />and our security would not be lessened. Otherwise, insurance proceeds shall be applied to sums secured by this Deed ofTnrsl, whether
<br />or not then due, with any excess paid to you. If you abandon the Property, or do not answer within 30 days after we give notice to
<br />you that the insurer has offcred to settle a claim, then we may collect and use the proceeds to repair or restore the Property or to pay
<br />suns secured by this Deed of Trust, whether or not Ihen due. Any application of proceeds to principal shall not require us to extend
<br />or postpone the due date of monthly payments or change the amount of monthly payments. If we acquire the Property at a forced sale
<br />NE -DEED OF'1'nDSr- Single remily -HEIAX 11C420934(02,00) Initials: `f
<br />2002 O,dina 1 o, m t,, Ina. Page 2 of 5 NEQD9E1)
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