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<br />[Space Above This Line For Recording Data]
<br />DEED OF TRUST
<br />
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<br />
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<br />
<br />DEFINITIONS
<br />
<br />"10 .fO
<br />
<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 />
<br />(A) "Security Instrument" means this document, which is dated D E C E M B E R 2 9. 2 0 0 6 ,together with all Riders to this
<br />document.
<br />(B)"Borrower"is KECIA K. SPOFFORD AND SCOTT C. SPOFFORD. AS WIFE AND HUSBAND
<br />
<br />(C) "lender" is
<br />NEB R ASK A
<br />
<br />PLATTE
<br />
<br />. Borrower is the trustor under this Security Instrument.
<br />V ALL E Y S TAT E BAN K & T R U S T CO. Lender is a
<br />organized and existing under the laws of THE STATE OF
<br />lender's address is ???3 SFCOND AVF KFARNFY NF 68847
<br />. lender is the beneficiary under
<br />
<br />this Secunty Instrument.
<br />
<br />(D) "Trustee" is P L A T T E V ALL E Y S TAT E BAN K & T R U S T CO.
<br />
<br />(E) "Note" means the promissory note signed by Borrower and dated 0 E C E M B E R 2 9. 2 0 0 6 . The Note states that
<br />Borrower owes lender E I G H T Y S EVE NTH 0 USA N D F 1 V E HUN 0 RED S EVE N T Y E I G H TAN D
<br />NO / 1 0 0 Dollars (U.S. $ 8 7 . 5 7 8 . 0 0 ) plus interest.
<br />Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than J A N U A R Y 1.
<br />2 0 3 7
<br />
<br />(F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property"
<br />
<br />(G) "loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and
<br />all sums due under this Security Instrument, plus interest.
<br />
<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 />
<br />o Adjustable Rate Rider
<br />o Balloon Rider
<br />p 1-4 Family Rider
<br />
<br />o Condominium Rider
<br />o Planned Unit Development Rider
<br />[] VA Rider
<br />
<br />o Second Home Rider
<br />o Other(s) [specify]
<br />
<br />(I) "Applicable law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative
<br />rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />
<br />(J) "Community Association Dues, Fees and Assessments" means all dues, fees, assessments and other charges that are
<br />imposed on Borrower or the Property by a condominium association, homeowners association or similar organization
<br />
<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,
<br />instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale
<br />transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse
<br />transfers.
<br />
<br />(l) "Escrow Items" means those items that are described in Section 3.
<br />
<br />~M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party
<br />other than insurance proceeds paid under the coverages described In Section 5) for: (i) damage to, or destruction of, the Property;
<br />ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations
<br />of, or omissions as to, the value and/or condition of the Property,
<br />
<br />(N) "Mortgage Insurance" means insurance protecting lender against the nonpayment of, or default on, the loan.
<br />
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any
<br />amounts under Section 3 of this Security Instrument.
<br />
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U,S,C, @ 2601 et seq.) and its implementing regulation,
<br />Regulation X (24 CF R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or
<br />regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and
<br />restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related
<br />mortgage loan" under RESPA.
<br />
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has
<br />assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />
<br />THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT
<br />OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT.
<br />
<br />AFTER RECORDING RETURN TO:
<br />PLATTE VALLEY STATE BANK & TRUST CO
<br />M 0 R T GAG E LOA N D E PAR T MEN T
<br />2 2 2 3 SEe 0 N D A V E
<br />K EAR N E Y, N E 6 8 847
<br />
<br />-,~"., _., .,~-~ ~
<br />
<br />NEBRASKA-Single F..mlly-F..nnle M..e/Freddle Mac UNIFORM INSTRUMENT
<br />V A NE DOT 3028 01101 PG1
<br />
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