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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.
<br />Certain 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 July 20, 2005, together with all Riders to this document.
<br />(B) "Borrower" is Brian P. Schardt and Libby D. Schardt, husband and wife. Borrower is the trustor under this Security Instrument.
<br />(C) "Lender" is Nebraska National Bank, organized and existing under the laws of the United States of America.
<br />Lender's address is 3110 2nd Avenue, PO Box 397, Kearney, NEBRASKA 68848. Lender is the beneficiary under this Security
<br />Instrument.
<br />(D) "Trustee" is Central National Bank.
<br />Trustee's address is PO Box 268, Superior, Nuckolls County NEBRASKA 68978.
<br />(E) "Note" means the promissory note signed by Borrower and dated July 20, 2005. The Note states that Borrower owes Lender TWO
<br />HUNDRED SIXTEEN THOUSAND SEVENTY -FIVE and no /100 Dollars (U.S. $216,075.00) plus interest. Borrower has promised to
<br />pay this debt in regular Periodic Payments and to pay the debt in full not later than August 1, 2035.
<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
<br />Borrower (check box as applicable):
<br />❑ Adjustable Rate Rider ❑ Condominium Rider ❑ Second Home Rider
<br />❑ Balloon Rider ® Planned Unit Development Rider [] VA Rider
<br />❑ 1 -4 Family Rider ❑ Biweekly Payment Rider
<br />❑ Other (Specify) -
<br />(1) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and achninistrative 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, horneowners 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
<br />instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or
<br />authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point -of -sale transfers, automated
<br />teller machine transactions, 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
<br />other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the
<br />value and/or 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
<br />under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 el seq.) and its implementing regulation, Regulation X
<br />(24 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
<br />same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a
<br />"federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed
<br />Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />NEBRASKA - Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT
<br />Page 1 of 7
<br />IDS, Inc. - (800) 554-1872
<br />�F r 302 r1/01
<br />Borrower(s) Initial
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<br />RECORDED, MAIL TO:
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<br />Nebraska National Bank
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<br />3110 2nd Avenue, PO Box 397
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<br />Kearney, NEBRASKA 68848
<br />This Instrument was prepared by:
<br />Nebraska National Bank
<br />3110 2nd Avenue, PO Box 397
<br />Kearney, NEBRASKA 68848
<br />308 - 237 -7711
<br />Loan Number: 25435
<br />Order Number;
<br />(Space Above This Line For Recording Data)
<br />DEED 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.
<br />Certain 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 July 20, 2005, together with all Riders to this document.
<br />(B) "Borrower" is Brian P. Schardt and Libby D. Schardt, husband and wife. Borrower is the trustor under this Security Instrument.
<br />(C) "Lender" is Nebraska National Bank, organized and existing under the laws of the United States of America.
<br />Lender's address is 3110 2nd Avenue, PO Box 397, Kearney, NEBRASKA 68848. Lender is the beneficiary under this Security
<br />Instrument.
<br />(D) "Trustee" is Central National Bank.
<br />Trustee's address is PO Box 268, Superior, Nuckolls County NEBRASKA 68978.
<br />(E) "Note" means the promissory note signed by Borrower and dated July 20, 2005. The Note states that Borrower owes Lender TWO
<br />HUNDRED SIXTEEN THOUSAND SEVENTY -FIVE and no /100 Dollars (U.S. $216,075.00) plus interest. Borrower has promised to
<br />pay this debt in regular Periodic Payments and to pay the debt in full not later than August 1, 2035.
<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
<br />Borrower (check box as applicable):
<br />❑ Adjustable Rate Rider ❑ Condominium Rider ❑ Second Home Rider
<br />❑ Balloon Rider ® Planned Unit Development Rider [] VA Rider
<br />❑ 1 -4 Family Rider ❑ Biweekly Payment Rider
<br />❑ Other (Specify) -
<br />(1) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and achninistrative 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, horneowners 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
<br />instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or
<br />authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point -of -sale transfers, automated
<br />teller machine transactions, 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
<br />other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the
<br />value and/or 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
<br />under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 el seq.) and its implementing regulation, Regulation X
<br />(24 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
<br />same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a
<br />"federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed
<br />Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />NEBRASKA - Single Family- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT
<br />Page 1 of 7
<br />IDS, Inc. - (800) 554-1872
<br />�F r 302 r1/01
<br />Borrower(s) Initial
<br />
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