|
<br />I
<br />
<br />p .~ (l r' f)
<br />I' "....\ r .
<br />
<br />DEED OF TRUST
<br />
<br />88-
<br />
<br />101259
<br />
<br />TH!S DEED OF TRUST ("Secunty Instrument") IS made Oil this
<br />tg~. ThetrustOflS George Medbery and
<br />
<br />. r)1
<br />l() I:!
<br />Marsha
<br />
<br />March
<br />
<br />I
<br />
<br />day 01
<br />Medbery, Husband and Wife
<br />
<br />("BCrrmvern)_ The trustee IS Commercial Federal Savings and Loan Association.
<br />("Trustee"). The beneficiary is Commerc~al Federal Savings and Loan Association. which is organized and eXisting under the 18'0\'5 of Nebraska. and whose address is 4460 Farnam. Omaha.
<br />
<br />Nebraska 68131 ("Lender"). Borrower owes Lender the principal sum of Eleven Thousand Six Hundred Sixty Fi ve Do 11 a~s and 45/ IOQollars
<br />
<br />(us. S 11,665.45
<br />
<br />). This debt l'3izing"J by Borrower's note dated the same date as thIS Security Inslrument C.Nole). which provides for monthly payments. with the
<br />
<br />full debl. if not paid earlie,. due and payable on .
<br />This Security Instrument secures to Lender: (8) the repayment of the debt evidenced by the Note. with Interest. and all renewals. extensions and modifications: (b) the payment of all other
<br />sums, with interest. advanced under paragraph 7 to protect the security of this Security Instrument; and (c) (he performance of BorTO'Ner's covenants and agreements. For this purpose.
<br />
<br />Borrower irrevocably grants and conveys 10 Trustee. in trust. with power of sale, the following deSCribed property Jocated in
<br />
<br />Hall
<br />
<br />County. Nebraska
<br />
<br />Lot 75 Le Heights, Fourth Subdivision, Grand Island, Hall Co., NE
<br />
<br />which has fhe ad6ress of
<br />
<br />4?15 Manchester Rd
<br />(Streel)
<br />
<br />Grand Island
<br />
<br />tCity}
<br />
<br />Neb'aska
<br />
<br />68803
<br />
<br />("Property Address1;
<br />
<br />L
<br />
<br />TOGETHER with all the improvements now or hereafter erected on the property. and all easemenls. nghts. appurtenances. rents. royaJ1les. mineraI. oil and gas nghts and profits. water
<br />rights and stock and all fixtu'es now or hereafter a part of the property. All replacements and add.illons shall also be covered by this Security Instrument. All of the loregoing is relerred :0 In
<br />thiS Security Instrument as L1e "Property."
<br />BORROWER COVENANTS that Borrower 15 lawfully seised of the eslate hereby COMe)'ed and has the nghl fo grant and convey the Property and that the Property is unencumbered
<br />except for encumb'ances of reco'd. Borrowe, warrants and will defend gene'a11y the hIIe to the Property agatOSI all dauns and demands. subject 10 any encumbrances 01 record.
<br />THIS SECURITY INSTRUMENT combines undorm covenants for natIOnal use and non-uniform cownants ....,th limited vanabOns by JUrisdICtion to coosliMe a uruform secunty Instrument
<br />covering real property.
<br />UNIFORM COVENANTS. 9crrowe, and Lender cownanl and agree as follows:
<br />1. Paymenl of Principal and fnlerest: Prepayment and Lete Charges. Borrower shall promptly pay when due the pnnopal 01 and Interesl on the debl evidenced by the Note and any
<br />prepayment and late charges due under the Note
<br />2. Funds for Taxes and Inaurance. Subject 10 applicable law or to a wntlen waMlr by Lender. Borrower shall pay to Lender on the day monthly payments are due under the Nole. untIl
<br />the Note is paid in full. a sum ("Fun<lS') equal to one.twelfth 01: (a) yearly taxes and assessments whICh may attain pnority over tIlis Secunty Instrument: (b) yearly leasehold payments or
<br />ground rents on the Property. if any; (cl yearly hazard Insurance premiums; and (d) yearly mo<tgage insurance premiums. d any. These ilems are canad -escrow ~ems' Lender may eSlimate
<br />the Funds due on the basis of corranl data and t3asonab1e estimates of future escrow ilems.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (IncludIng Lender rt Lender IS such an institution). Lenaer
<br />shall apply the Funds to pay the escrow ~ems. Lender may not cllatge fer holding and app.'ying the Funds. anaJyzing the account or ,,,,,,lying the escrow ilems. unless Lender pays Borrower
<br />interest on the Funds and applicable I"'H perrolits Lende' to make such a charge. Borrower and Lender may agree '" ....1iting thaI intelest shall be paid an the Funds. Unless an agreement IS
<br />made or applicable law requires interesl to be paid. Lender shall not be required 10 pay Borrow.".- any tOteresl or eamlngs on the Fun<lS. Lender shall 9"'6 to 60rr0we,. ....'lhOul charge. an
<br />annual accounting of the Funds showing credits and debits to the Funds and the purposa for wh.~ each debit 10 the Funds was made. The Funds are pledged as additional sacurity for the
<br />sums secured by Ihis Security Instrument.
<br />If Ihe amount ot the Funds held by Lender. together with the future monthly paymentS of Funds payable prior to the due dates of L'1e escrow ~ems. shaH exceed the amount required to pay
<br />the escrow items when due. the excess shall be. at Borrower's option. ertller promptly 'epajd to Borrower or Cfl!dited 10 Borro.....er an monlllly payments of Fun<lS. lithe amount of the Fun<lS
<br />held by Lender is not sulOOentlo pay lha escrow ~ems when due. Borrowe, shall pay 10 Lender any amounl necessary 10 make up the delJCIenCy '" one or more payme~ts as reqUIred by
<br />Lender.
<br />Upon payment in full of all sums secured by this Secunty Instrument. Lender shall promptly refund to Borrow.".- any Funds held by Lender. It under paragraph 19 the Property is sold or
<br />acquired by Lender. Lender shall apply. "" late, than Immedialety prior to the sale 01 the Property or its acquiSt1ion by Lender. any Funds held by Lender at lhe bme of appIicabOn as a credll
<br />against the sums secured by lilis Security Instrument.
<br />3. Appll~on of P1Iyrnenta. Unless applicable law provides otherwise. all paymentS rece<ved by Lender under paragraphs 1 and 2 shall be applied: fIrst. to late cha'ges due under the
<br />Note: second. 10 prepaymenl charges due under the Note; third. to amounts payable under paragraph 2; fourth. to IOteresl due: and last. to prinopal due.
<br />4. Charges; Uans. Borrower shall pay all taxes. assessments. charges. fines and ttnpOSrtions altnbutab!e to the Property ....hlcll may al1ain pnomy o,,,r thIS Seculrty InSlrument. and
<br />leasehold payments or ground rents. if any. Borrowe, shall pay these obftgations '" the manner p<tl\'ided in paragraph 2. or d not paid '" thaI manner. Borrower shall pay them on lime dIrectly
<br />to the person owed paymant. Borrowe, shall promptly fumlSh to Lender all notices of amounts to be paid under tIlis paragraph If Borrow..., makes lhese payments dIrectly. Borrow"r Shall
<br />promptly fumrsh to Lende' receiplS evidenong the payments
<br />Borrower shall promptly discharge any lien which has prionty ",,,r thIS Secunty IllSIJumenl unless Borra"er; lal agrees 10 wnbng to t:>6 paymenl of the obltgabOn secure<! by the Iten In a
<br />manner acceptable 10 Lender; Ib) contests in good faith the Iten by. or defends agatn5I enforcemenl 01 the !>en to. legal proceedtngs ....1lich in the Lender's op.man operate 10 P'6Wnllhe
<br />enforcemenl of the lien or forfeIture ot any part of the Property; or lcl secures from the holder 01 the ben an agreemenl saliSfactOf)' to Lender subordinating the ben 10 tI1is Secunty Instrumenl
<br />If Lende, determines that Wly part ot the p,ope<ty 15 subjocllO a lien which may ana.... pnority over tIlis Secunty Instrument. Lender may gMl Borrow", a nobce ldenllfying the Iten Borro.....er
<br />shall satisfy the lien or take one or more 01 the actions set forth above WIthin 10 days of the QlWlQ 01 notice.
<br />5. HlWlrd Inaunonce. Borrowe, shall keep the unprovements now eXISting or hereafter erected on the Property ,"sured agatOstlO55 by fire. hazards U1duded ....'thln the lerm -extenaeo
<br />coverege" and any other hazards lor which Lender requIres Insurance ThIS Insurance sha1 be mainta.oned '" the amounls and lor the peneds thaI Lender requIres The Insurance carner
<br />providing the insurance shall be chosen by Borrower subtect to Lender's approval whlCh shall not be unreasonably ....'lhheId
<br />All insurance policies and renewals shall be acceptable 10 Lender and shall Uldude a standard mor1gage dause Lender shall h",," the nghlto hold the polICIes and renewals It Lender
<br />requires. Borrower shall promptly give 10 Lender all receIptS of paid premIums and renewal notices. In the 6\erlt 011055. Borrower sha.1 gMl prompl notice 10 lhe Insurance carner and Lender
<br />Lender may make proof 01 loss if nol made promptly by Borrower.
<br />Unless Lender and Borrowe, otherwise agree In wrWng. Insu'ance proceeds shall be applied to reslorabOn or repaw 01 the Property damaged. II the reslorabOn or repall IS economICally
<br />leasible and Lender's security IS nollessened. If the 'esforation or repair IS not economICally leasible or Lender's secunty VI'OUId be lessaneo the Insurance proceeds shall be applied to the
<br />sums secured by this Secunty Instrumen!. whether or not then due. with any excess paid to Borrower. If Borrower abandons the P,operty. or does nol ans.....er ....'thln 30 days a nollce Irom
<br />Lender thallhe insurance carrier has offered to sett1e a claIm. Ihe Lender may collect the Insufance proceeds Lender may use the proceeos 10 repair or reslore the Property or 10 pay sums
<br />secured by this Security Instrumen!. whethe' or nol then due. The 3O-day perood WllI begIn ....hen the nobce 15 g"""
<br />Unless Lender and Borrower otherwise agree in writing. any application of proceeds 10 pnnopal sha. nol extend or postpone the due dale 01 lhe monthly paymenlS referred to In paragraphs
<br />1 and 2 or change the amount of the payments. "under paragraph 19 the Prope,ty IS acquired by Lender. Borrow..r's right to any insurance policies and proceeds resulling from namage to
<br />the Property prio, to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrumenl immedialely prior to the acquisition
<br />6. PntSarvallon and Maintenance of Property; Leaseholds. Borrower shall not destroy. damage or substanbally change the Property. allow the P'operty 10 deteriorate or commIt waste
<br />If this Security Inslrumenl is on leasehold. Borrower shall comply with the provlSions of the lease. and If Borrowe, acquires fee tItle to Ihe Property. the leasehold and fee tItle shall not merge
<br />unless Lender agrees to tha marger in writing.
<br />7. Protection of Lender'a Rights In the Property; Mortgage Insurence. " Borrower falls to perlorrn the covenants and agreements contaIned In Ihls S",-"nty Instrumen!. or there is a
<br />legal proceeding that may significantly affect Lender's rights In the Property ISuch as a proceedIng In bankruptcy. probate. lor condemnatIOn 01 to enforce laws or regulabons). then Lender
<br />may do and pay fo, whatever is necessary to prote:t Ihe value of the Prope,ty and Lender's rights In the Property. Lender's acllOf1S may "'clude paying any sums secured by a lien whIch has
<br />priority ovar Ihis Security Inslrument. appearing in cour!. paying reasonable atlOrneys' fees and entenng on the Property fo make repairS. Although Lende' may take actIon under Ihls pa'agraph
<br />7. Lender does not have to do so.
<br />Any amounls disbursed by Lender unde, this pa,ag'aph 7 shall become additional debt of Borrowe, secured by IhlS Secunly Instrument Unless Borrower and Lender agree to other terms
<br />of payment. these amounts shall bear Interest from the dale of disbursement at the Note rate and shall b6 payable. ,^1th Interest. upon noltee from Lender to Borrower requestmg payment
<br />If Lender required mortgage insurance as a condition of making the loan secured by thiS Security Instrument. BorrOVlo-er shall pay the premIums reqUIred to maintain the Insurance in aHael
<br />until such time as the requirement for the insurance terminates in accordance with Borrower'S and Lender's wnnen agreement 01 applICable law
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspechons of the Property Lender shall gwe Borrower notice at the time of or poor to an Inspection specifying
<br />reasonable cause for Ihe inspection.
<br />9. CondemntlUon. The proceeds of any aws.rd or claim for damages. direct or consequential. In connectIOn With any condemnation or olher taking 01 any par1 of the Property. or lor
<br />conveyance In lieu of condemnation. are hereby assigned and shall be paid to Lende'.
<br />In the evonl of a total taking of the Property. the proceeds shall be apphed to the sums secured by thIS SecuTlty Instrument. whether or not then due. With any excess paid to Borrower tn
<br />the avent 01 a pa'lialtaking of Ihe Property. unless Borrower and Lender otherwise agree In ...."ltng. the sums secu~y Ihls Secu"ty Instrument shall be reduced by the amounl 01 the
<br />proceeds multiplied by lhe following Iraclion. (a) the lotal amounl of the sums secured ImmedIately before the rakIng dl\'lded Oy Ibl the fall market vafue ollhe Property Immedlalely beiore
<br />Ihe lakIng Any balance shall be pard 10 Borrowe,
<br />II the Property 19 abandoned by Borrower, or If after notice by Lender to Borrower thai the condemnor oHers to make an award or se11le cl claim for damages Borrower falls to respond 10
<br />Londer Within 30 days alter the data Ihe nolleo IS given, Lender IS aulhoTlled to collecl and apply the proceeds. at Its optlon_ eIther 10 restoralion 0' ropall of the Proper tv or 10 the sums
<br />seel ed by thIS Security Instrument. .....hethef or not 'hen due
<br />',Illess Lendor and Borrower Olhorwlso agree .n .....nhnq any application of proceeds Ie prInCIpal stla!l not wr:teno 0' postoo.,p Ihp ,~~je ,lalt~ ._1 P'p 'T'.o.,tlti.... ~\a....r..,enl~ 'elerrpt] to ,n D,Jr .iar,1I~t1~
<br />I and 2 I)r chan<]6 tho amount 01 'iUCh paymenls
<br />
<br />t-.,
<br />
<br />.--,."
<br />
<br />
<br />
<br />i.....!..=...~I...'.'..:.;..f.~1
<br />~ -
<br />(.
<br />I
<br />!
<br />~
<br />t
<br />~.
<br />t,
<br />t;~
<br />It;l.
<br />
<br />" .1
<br />
<br />h.
<br />
<br />..-1
<br />
<br />. 'J . "1 'Jf . ,) H'
<br />
|