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<br />[Space Above This Line for Recording Data]
<br />MIN: 100416700000691858
<br />FHA Case No.
<br />DEED OF TRUST 321 - 2407434 -703
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<br />THIS DEED OF TRUST ( "Security Instrument ") is made on August 12th 2005
<br />The trustor is Christopher W Callahan and Denise M Callahan husband and wife
<br />( "Borrower "). The trustee is U.S. Bank Trust Company, National Association
<br />( "Trustee ") , and the beneficiary. Mortgage Electronic Registration Systems, Inc. ( "MERS "), which is acting solely as nominee for Lender (as
<br />hereinafter defined) and Lender's successors and assigns. MERS is organized and existing under the laws of Delaware, and has an address and
<br />telephone number of PO Box 2026, Flint, MI 48501 -2026, tel. (888) 679 -MERS.
<br />CharterWest National Bank
<br />which is organized and existing under the laws of the United States of America and whose address is 2535 Carleton Avenue
<br />Suite C Grand Island, NE 68803 ( "Lender "). Borrower owes
<br />Lender the principal sum of One Hundred Twenty Seven Thousand Four Hundred Fifty and 00 /100
<br />Dollars (U.S. $ 127,450.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which
<br />provides for monthly payments with the full debt, if not paid earlier, due and payable on September 01, 2035 . This Security
<br />Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications;
<br />(b) the payment of all other sums, with interest, advanced under paragraph 6 to protect the security of this Security Instrument; and (c) the
<br />performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby
<br />mortgage, grant and convey to Trustee with power of sale, the following described property located in Hall County:
<br />Lot Twenty Eight (28), Capital Heights Seventh Subdivision, Hall County, Nebraska.
<br />which has the address of 4233 Nevada Ave
<br />Grand Island
<br />[Street] [City]
<br />Nebraska 68803 ( "Property Address ");
<br />[ State ] [Zip Code]
<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
<br />referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests
<br />granted by Borrower in this Security Instrument; but, if necessary to comply with law or custom, MERS (as nominee for Lender and lender's
<br />successors and assigns) has the right to exercise any or all those interests, including, but not limited to, the right to foreclose and sell the
<br />Property; and to take any action required of Lender including, but not limited to, releasing or canceling this Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and
<br />convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally
<br />the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non- uniform covenants with limited variations by
<br />jurisdiction to constitute a uniform security instrument covering real property.
<br />Borrower and Lender covenant and agree as follows:
<br />UNIFORM COVENANTS.
<br />1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of, and interest on, the debt evidenced
<br />by the Note and late charges due under the Note.
<br />2. Monthly payment of Taxes, Insurance, and Other Charges. Borrower shall include in each monthly payment, together with the
<br />principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special assessments levied or to be levied against the
<br />Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for insurance required under Paragraph 4. In any year in
<br />which the Lender must pay a mortgage insurance premium to the Secretary of Housing and Urban Development ( "Secretary"), or in any year in
<br />which such premium would have been required if Lender still held the Security Instrument, each monthly payment shall also include either: (i) a
<br />sum for the annual mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance
<br />premium if this Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the monthly
<br />charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds."
<br />16256.CV (12/04) 900148 Page I of 5
<br />Return To:
<br />CharterWest National Bank
<br />2535 Carleton Avenue Suite C
<br />Grand Island, NE 68803
<br />if eLu
<br />GOTO(0001045)
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