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<br />AFTER RECORDING RETURN TO:
<br />First National Acceptance Co.
<br />P.O. Box 4010
<br />East Lansing, MI 48826
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made effective as of August 15, 2002. The Trustor is Galen
<br />B. McHugh, a single man (hereinafter referred to as " Trustor" or `Borrower "). Trustor's
<br />address is 408 E. 9th, Grand Island, NE 68801. The Trustee is First National Accptance, Co.
<br />The Trustee's address is P.O. Box 4010, East Lansing, Ml 48826. The Beneficiary is FIRST°a
<br />NATIONAL ACCEPTANCE. CO., a Michigan Corporation (hereinafter jointly referred to as
<br />"Beneficiary" or "Lender "). Beneficiary's address is 241 E. Saginaw, East Lansing, Ml 48823.
<br />Truster irrevocably conveys to Trustee, in Trust, WITH POWER OF SALE, 408 E. 9th, Grand
<br />lsland, NE 68801, Hall County, NE, described as:
<br />The Westerly thirty -three (33) feet of Fractional Lot Six (6), IN Fractional Block One Hundred
<br />Forty -three (143) of Union Pacific Railway Company's Second Addition, and all that part of
<br />Fractional Lot Seven (7), in Fractional Block Eleven (11), of Russel Wheeler's Addition, lying
<br />West of the Easterly thirty -three (33) feel of said Fractional Lot Seven (7), in said Fractional
<br />Block Eleven (11), both being additions to the City of Grand Island, Hall County Nebraska
<br />Borrower owes Lender $40,376.96 as of August 15, 2002, evidenced by Borrower's note
<br />effective August 15, 2002, payable according to the terms thereof.
<br />'Phis security instrument secures to Lender the debt evidenced by said note, the payment
<br />of all other sums, with interest, advanced under the provisions hereafter to protect the security
<br />and the performance of Borrower's covenants and agreements.
<br />Borrower covenants that Borrower is lawfully seized of such real estate and has the legal
<br />power and lawful authority to convey the same and warrants and will defend title of the real
<br />estate against the lawful claims of all persons.
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />Borrower shall pay when due, the principal and interest as provided in said note.
<br />2. All payments received by Lender shall be fiest applied to advances which may
<br />have been made by Lender and then to interest due an dlast to principal due.
<br />3. If Lender determines that any part of the Property is subject to a lien, which is or
<br />may attain priority over this security instrument, Lender may give Borrower a notice identifying
<br />the Tier, and Borrower shall satisfy the lien -,within 10 days.
<br />4. Borrower shall keep the improvements on the Property insured against loss by fire
<br />and hazards included within the term "extend coverage" for the their insurable value and policies
<br />for the same shall include a standard mortgage clause identifying Lender herein. In event of loss,
<br />Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be
<br />applied to restoration or repair of the Property damage, unless both parties otherwise agree,
<br />except if restoration or repair is not economically feasible or Lender's security is not lessened;
<br />otherwise, said proceeds shall be paid on the debt herein, whether or not then due.
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<br />200214437
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made effective as of August 15, 2002. The Trustor is Galen
<br />B. McHugh, a single man (hereinafter referred to as " Trustor" or `Borrower "). Trustor's
<br />address is 408 E. 9th, Grand Island, NE 68801. The Trustee is First National Accptance, Co.
<br />The Trustee's address is P.O. Box 4010, East Lansing, Ml 48826. The Beneficiary is FIRST°a
<br />NATIONAL ACCEPTANCE. CO., a Michigan Corporation (hereinafter jointly referred to as
<br />"Beneficiary" or "Lender "). Beneficiary's address is 241 E. Saginaw, East Lansing, Ml 48823.
<br />Truster irrevocably conveys to Trustee, in Trust, WITH POWER OF SALE, 408 E. 9th, Grand
<br />lsland, NE 68801, Hall County, NE, described as:
<br />The Westerly thirty -three (33) feet of Fractional Lot Six (6), IN Fractional Block One Hundred
<br />Forty -three (143) of Union Pacific Railway Company's Second Addition, and all that part of
<br />Fractional Lot Seven (7), in Fractional Block Eleven (11), of Russel Wheeler's Addition, lying
<br />West of the Easterly thirty -three (33) feel of said Fractional Lot Seven (7), in said Fractional
<br />Block Eleven (11), both being additions to the City of Grand Island, Hall County Nebraska
<br />Borrower owes Lender $40,376.96 as of August 15, 2002, evidenced by Borrower's note
<br />effective August 15, 2002, payable according to the terms thereof.
<br />'Phis security instrument secures to Lender the debt evidenced by said note, the payment
<br />of all other sums, with interest, advanced under the provisions hereafter to protect the security
<br />and the performance of Borrower's covenants and agreements.
<br />Borrower covenants that Borrower is lawfully seized of such real estate and has the legal
<br />power and lawful authority to convey the same and warrants and will defend title of the real
<br />estate against the lawful claims of all persons.
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />Borrower shall pay when due, the principal and interest as provided in said note.
<br />2. All payments received by Lender shall be fiest applied to advances which may
<br />have been made by Lender and then to interest due an dlast to principal due.
<br />3. If Lender determines that any part of the Property is subject to a lien, which is or
<br />may attain priority over this security instrument, Lender may give Borrower a notice identifying
<br />the Tier, and Borrower shall satisfy the lien -,within 10 days.
<br />4. Borrower shall keep the improvements on the Property insured against loss by fire
<br />and hazards included within the term "extend coverage" for the their insurable value and policies
<br />for the same shall include a standard mortgage clause identifying Lender herein. In event of loss,
<br />Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be
<br />applied to restoration or repair of the Property damage, unless both parties otherwise agree,
<br />except if restoration or repair is not economically feasible or Lender's security is not lessened;
<br />otherwise, said proceeds shall be paid on the debt herein, whether or not then due.
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