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200504411
<br />which has the address of 2831 NORTHWEST AVENUE
<br />[Street]
<br />GRAND ISLAND, Nebraska 68803 (herein "Property Address ");
<br />[City] [Zip Code]
<br />TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights,
<br />appurtenances and rents (subject however to the rights and authorities given herein to Lender to collect and apply
<br />such rents), all of which shall be deemed to be and remain a part of the property covered by this Deed of Trust; and
<br />all of the foregoing, together with said property (or the leasehold estate if this Deed of Trust is on a leasehold) are
<br />hereinafter referred to as the "Property". Borrower understands and agrees that MERS holds only legal title to the
<br />interests granted by Borrower in this Deed of Trust; but, if necessary to comply with law or custom, MERS, (as
<br />nominee for Lender and Lender's successors and assigns), has the right: to exercise any or all of those interests,
<br />including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender
<br />including, but not limited to, releasing or canceling this Deed of Trust.
<br />TO SECURE to Lender the repayment of the indebtedness evidenced by Borrower's note dated MAY 13,
<br />2005 and extensions and renewals thereof (herein "Note "), in the principal sum of U.S. S 27,000.00 ,
<br />with interest thereon, providing for monthly instalhnents of principal and interest, with the balance of the
<br />indebtedness, if not sooner paid, due and payable on JUNE 1, 2020 ; the payment of all other
<br />sums, with interest thereon, advanced in accordance herewith to protect the security of this Deed of Trust; and the
<br />performance of the covenants and agreements of Borrower herein contained.
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant
<br />and convey the Property, and that the Property is unencumbered, 'except for encumbrances of record. Borrower
<br />covenants that Borrower warrants and will defend generally the title to the Property against all claims and demands,
<br />subject to encumbrances of record.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest
<br />indebtedness evidenced by the Note and late charges as provided in the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall
<br />pay to Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is
<br />paid in full, a sum (herein "Funds ") equal to one - twelfth of the yearly taxes and assessments (including
<br />condominium and planned unit development assessments, if any) which may attain priority over this Deed of Trust,
<br />and ground rents on the Property, if any, plus one - twelfth of yearly premium installments for hazard insurance, plus
<br />one - twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and
<br />from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. Borrower shall
<br />not be obligated to make such payments of Funds to Lender to the extent that Borrower makes such payments to the
<br />holder of a prior mortgage or deed of trust if such holder is an institutional lender.
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall
<br />apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so
<br />holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills,
<br />unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge.
<br />Borrower and Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds
<br />shall be paid to Borrower, and unless such agreement is made or applicable law required such interest to be paid,
<br />NEBRASKA- SECOND MORTGAGE,- 1 /80- FNMA/FHLMC UNIFORM INSTRUMENT WITH MERS Forin 3828
<br />GV2206.IIP (AMENDED 11/02) (page 2 of 7pages)
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