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<br />and (c) the performance of your covenants and agreements under this Deed of Trust and the Agreement. For this
<br />purpose and in consideration of the debt, you irrevocably grant and convey to the Trustee, in trust, with power of sale,
<br />the following described property located in Hall County, Nebraska:
<br />See Exhibit "A"/legal description attached hereto and made a part
<br />hereof.
<br />
<br />APN # z 400027119
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<br />which has the address of 425 Dodge Street, Grand Island,
<br />
<br />Nebraska 68801
<br />
<br />("Property Address ");
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<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights,
<br />appurtenances, and fixtures now or hereafter a part ofthe property. All replacements and additions shall also be covered
<br />by this Deed of Trust. All of the foregoing is referred to in this Deed of Trust as the "Property." You understand and agree
<br />that MERS holds only legal title to the interests granted by you in this Deed of Trust, but, if necessary to comply with
<br />law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or
<br />all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action
<br />required of Lender including, but not limited to, releasing and canceling this Deed of Trust.
<br />
<br />YOU COVENANT that you are lawfully seised of the estate hereby conveyed and have the right to mortgage, grant
<br />and convey the Property and that the Property is unencumbered, except for encumbrances of record. You warrant and
<br />will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />
<br />YOU AND WE covenant and agree as follows:
<br />
<br />1. Payment of Principal, Interest and Other Charges. You shall pay when due the principal and interest owing
<br />under the Agreement and all other charges due hereunder and due under the Agreement.
<br />
<br />2. Application of Payments. Unless applicable law provides otherwise, all payments received by us under the
<br />Agreement and Section 1 shall be applied by us as provided in the Agreement.
<br />
<br />3. Prior Mortgages; Charges; Liens. You have disclosed to us and obtained our approval of any mortgage, deed of
<br />trust or other security agreement with a lien which has priority over this Deed of Trust. You shall perform all of your obligations
<br />under any mortgage, deed oftrustor other security instru ments with a lien which has priority over this Deed of Trust, including
<br />your covenants to make payments when dUe. You shall pay all taxes, assessments, charges, fines and impositions
<br />attributable to the Property which may attain priority over this Deed of Trust, and leasehold payments or ground rents, if any.
<br />Upon our request, you shall promptly furnish to us all notices of amounts to be paid under this paragraph and receipts
<br />evidencing any such payments you make directly. You shall promptly discharge any lien (other than a lien disclosed to us
<br />in your application or in any title report we obtained) which has priority over this Deed of Trust.
<br />If applicable law authorizes us to do so, we specifically reserve to ourself and our successors and assigns the
<br />unilateral right, upon an event of default in payment of taxes, assessments or insurance on the Property, to require, upon
<br />notice, that you pay to us on the day monthly payments are due an amount equal to one-twelfth (1/12) ofthe yearly taxes,
<br />and assessments (including condominium and planned unit development assessments, if any) which may attain priority
<br />over this Deed of Trust and ground rents on the Property, if any, plus one-twelfth (1/12) of yearly premium installments
<br />for hazard and mortgage insurance, all as we reasonably estimate initially and from time to time, as allowed by and in
<br />accordance with applicable law.
<br />
<br />4. Hazard Insurance. You shall keep the Property insured against loss by fire, hazards included within the term
<br />"extended coverage" and any other hazards, including floods orflooding, for which we require insurance. This insurance
<br />shall be maintained in the amounts and for the periods that we require. You may choose the insurer to provide this
<br />coverage. Insurance policies and renewals shall be acceptable to us and shall include a standard mortgagee clause.
<br />If we require, you shall promptly give us all receipts of paid premiums and renewal notices. If you fail to maintain coverage
<br />as required in this section, you authorize us to obtain such coverage as we in our sole discretion determine appropriate
<br />to protect our interest in the Property in accordance with the provisions in Section 6. You understand and agree that
<br />any coverage we purchase may cover only our interest in the Property and may not cover your interest in the Property
<br />or any personal property therein. You also understand and agree thatthe premium for any such insurance may be higher
<br />than the premium you would pay for such insurance. You shall promptly notify the insurer and us of any loss. We may
<br />make proof of loss if you do not promptly do so.
<br />We may also, at our option and on your behalf, adjust and compromise any claims under the insurance, give releases
<br />or acquittances to the insurance company in connection with the settlement of any claim and collect and receive
<br />insurance proceeds. You appoint us as your attorney-in-fact to do all of the foregoing, which appointment you
<br />understand and agree is irrevocable, coupled with an interest with full power of substitution and shall not be affected
<br />by your subsequent disability or incompetence.
<br />Insurance proceeds shall be applied to restore or repair the Property damaged, if restoration or repair is
<br />economically feasible and our security would not be lessened. Otherwise, insurance proceeds shall be applied to sums
<br />secured by this Deed of Trust, whether or not then due, with any excess paid to you. If you abandon the Property, or
<br />do not answer within 30 days after we give notice to you that the insurer has offered to settle a claim, then we may collect
<br />and use the proceeds to repair or restore the Property or to pay sums secured by this Deed of Trust, whether or not then
<br />due. Any application of proceeds to principal shall not require us to extend or postpone the due date of monthly payments
<br />
<br />NE - DEED OF TRUST - Single Family - HELOC - HC# 20934 (02/00) Ini tials z ~
<br />@ 2004 Online Documents, Inc. Page 2 of 5 NEZDEED 0404
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