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<br />DEED OF TRUST
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<br />101317
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<br />THIS DEED OF TRUST ("Securlly Instrument") IS made on IhlS ___.1..1___
<br />19 ~, The truslor IS L a r r y G r i III and R ita L. G r i III ,
<br />
<br />day 01
<br />Husband and
<br />
<br />rIa rc h
<br />Wife
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<br />("Borrower"), The trustee is Commercial Federal Savings and Loan Associalion,
<br />("Trustee"), The beneficiary is Commerclel Federal Savings and Loan Association. which IS organIZed and existing under the laws of Nebraska, and whOse address is 4460 Farnam, Omaha,
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<br />Nebraska 66131 ("Lender"), Borrower owes Lender the principal sum 01 S f> V P nTh 0 usa n..ci 0 n e Hun d red Six t yOn e Do 1 1 a r s ruJllarl 0 (
<br />
<br />(u.s, $ 7 . 1 n 1 . 0 0 ), This debt Is evidenced by Borrower's note daled Ihe same dale as this Security Instrument ("Note). which provides for monthly payments, wilh the
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<br />full debt, if not paid earlier, due and payable on A p r i 1 2, 1 9 9 2 ,
<br />This Security Instrument secures to Lender: (a) the repayment of the debt evidencea 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) the performance of Borrower's covenants and agreements, For thiS purpose,
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<br />Borrower irrevocably grants and conveys to Trustee, in trust. with power of sale, the following described property located in Hall County, Nebraska:
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<br />Lot 3, in Block 15, in Charles IJasl~ler's /\ddition to the City of Grand Island,
<br />Hall County, Nebraska
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<br />Nebraska
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<br />63801
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<br />1 9 1 5 ~J. D i vis ion
<br />(Street)
<br />("Property Address"):
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<br />~rand Island
<br />(City)
<br />
<br />which has the address of
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<br />TOGETHER with all the improvements now or hereafter erecled on the property, and all easemenls, nghls, appurtenances. rents. royalties, mineral, oil and gas rights and profits, water
<br />rights and stock and all fixtures now or hereafter a part of the property, All replacemenls and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in
<br />this Security Instrument as the "Property,"
<br />BORROWER COVENANTS Ihat Borrower is lawfully seised oflhe estate hereby conveyed and has the right 10 grant and convey the Property and Ihat the Property is unencumbered,
<br />except for encumbrances of record, Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record,
<br />THIS SECURITY INSTRUMENT combines uniform covenants for netional use and non.uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument
<br />covering real property,
<br />UNIFORM COVENANTS, Borrower and lender covenant and agree as follows:
<br />1, Payment of Principal and Interes!; Prepayment and Latl'J Charges, Borrower shall promptly pay when due Ihe principal of and interest on the debt evidenced by the Note and any
<br />prepaymenl and late charges due under the Nole,
<br />2, Funda for Taxea and Insurance, Subject to applicable law or to a written waiver by Lender, Borrower shall pay to lender on the day monthly payments are due under the Note. until
<br />the Note is paid In full, a sum ("Funds") equal to one.twelfth of: (a) yearly texes and assessments which may attain priority over this Security Instrument: (b) yearly leasehold payments or
<br />ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance premiums, if any, These items are called "escrow items," Lender may estimate
<br />the Funds due on the basis of current dala and reasonable estimates of future escrow items,
<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 if Lender is s,'~~ .In institution), lender
<br />shall apply the Funds to pay the escrow items, lender may not charge for hotding and applying the Funds, analyzing the account or verifying the escrow ilems, unless lender pays Borrower
<br />interest on the Funds and applicable law permits lender to meke such a charge, Borrower and lender may agree In writing that interest shall be paid on the Funds, Unless an agreament is
<br />made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds, Lender shall give to Borrower, without charge, an
<br />annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made, The Funds are pledged as additional security for the
<br />sums secured by this Security Instrument.
<br />" the amount of the Funds held by lender, together with Ihe future monthly payments of Funds payable prior to the due dates of the escrow items, shall exceed the amount required to pay
<br />the escrow items when due, the excess shall be, at Borrower's option, eilher promptly repaid to Borrower or credited to Borrower on monthly payments of Funds, if the amount of the Funds
<br />held by lender is not sufficient to pay the escrow items when due. Borrower shall pay 10 lender any amount necessary to make up Ihe deficiency in one or more payments as required bv
<br />lender.
<br />Upon payment in full of all sums secured by this Security Inslrument. Lender shall promptly refund to Borrower any Funds held by Lender, If under paragraph 19 the Property is sold or
<br />acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Properly or its acquisition by Lender. any Funds held by Lender at the time of application as a credit
<br />against the sums secured by this Security Instrument.
<br />3, Application of Paymenta, Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to lale charges due under Ihe
<br />Note; second, to prepayment charges due under the Nole; third, to amounts payable under paragraph 2; fourth, 10 interest due; and last, to principal due,
<br />4. Charges; Lfana. Borrower shall pay all taxes, assessments, charges, lines and impositions attributable to Ihe Property which may attain priority over Ihis Security Instrument. and
<br />leasehold payments or ground renls, if any, Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly
<br />to the person owed payment. Borrower shall promptly lurnish to Lender ail notices of amounts to be paid under this paragraph, If Borrower makes these payments directly, Borrower shail
<br />promptly furnish to Lender receipts evidencing the payments,
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower; (a) agrees in writing to the payment of the obligation secured by the lien In a
<br />manner acceptable to lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br />enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument
<br />II lender determines that any part of the Property is subject to a lien which may attain priorily over this Security Instrument. Lender may give Borrower a notice identifying the lien, Borrower
<br />shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice,
<br />S. Hazard Insufance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire. hazards included within the term "extended
<br />coverage" and any other hazards for which lender requires insurance, This insurance shall be maintained in the amounts and for the periods that lender requires, The insurance carrier
<br />providing Ihe insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld,
<br />All insurance policies and renewals shall be acceptable to lender and shall include a standard mortgage clause, Lender shail have the righllo hold the policies and renewals, If lender
<br />requires, Borrower shall promptly give to lender all receipts of paid premiums and renewal nOlices, In the event of loss, Borrower shall give prompt nolice to the insurance carrier and lender,
<br />lender may make proof of loss it not made promplly by Borrower,
<br />Unless lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if Ihe restoration or repair is economically
<br />feasible and Lendor's security is not lessened, If the restoration or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the
<br />sums secured by this Security Instrument, whelher or not then due, wifh any excess paid to Borrower, II Borrower abandons the Property, or does not answer within 30 days a notice from
<br />Lender that Ihe insurance carrier has offered to sellle a claim, the lender may collect the insurance proceeds, lender may use the proceeds to repair or restore the Property or to pay sums
<br />secured by this Security Inslrument, whether or nol then due, The 30.day period will begin when the notice is given,
<br />Unless lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred 10 in paragraphs
<br />1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to
<br />the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security tnstrument immediately prior to the acquisition,
<br />6. P......rvatlon and Maintenance of Property; Leaseholds, Borrower shall not destroy, damage or substantially change the Property, allow the Property to deleriorate or commit waste
<br />If Ihls Security Instrument is on leasehold, Borrower shall comply with the provisions of the lease, and if Borrower acquires fee tille to the Property, the leasehold and fee title shall not merge
<br />unless Lender agrees to the merger in writing,
<br />7. Protection 01 Lender'a Rights In the Property; Mortgaga Inaurance, If Borrower fails to perform the covenants and agreements contained in this Securily Instrument, or there is a
<br />legal proceeding thai may significantly affect lender's rights in the Property (such as a proceeding in bankruptcy, probale, for condemnation or to' enforce laws or regulations), then lender
<br />may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Properly, lender's aclions may include paying any sums secured by a lien which has
<br />priority over this Security Instrument. appearing in court, paying reasonable attorneys' fees and enlerlng on the Property to make repairs, Although Lender may lake action under Ihls paragraph
<br />7, lender does not have to do so,
<br />Any amounts disbursed by lender under this paragraph 7 shall become addilional debt of Borrower secured by thiS Security Instrument. Unless Borrower and Lender agree 10 olher lerms
<br />of payment. these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest. upon nOlice from Lender to Borrower requesting payment.
<br />If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the insurance In effecI
<br />until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inepectlon. lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection speCIfYing
<br />reasoneble cause for the inspection,
<br />9. Condemnation. The proceeds of any-award or claim f01 damages. direct 01 consequentlsl. In connection with any condemnation or ottier taking of any part of the Property. or lor
<br />conveyanCe in lieu of condemnation, are hereby assigned and shall be paid to lender
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by Ihls Security Instrumenl whethel or not Ihen due, With any excess paid 10 Borrower In
<br />Ihe event of a partial taking of Ihe Property, unless Borrower and lender otherwise agree In wrlllng, Ihe sums secured by thiS Securrly inslrumenl shall be reduced by Ihe amount of the
<br />proceeds multiplied by the follOWing fraction: (a) the tolal amount of the sums secured Immediately belore the taking, diVided by (bl the lair markel value of Ihe Property IInmedlalely before
<br />Ihe taking, Any balance shall be paid to Borrower
<br />If the Property is abandoned by Borrower. or if, after nolice by Lender to B01rowor thai tho conden1Por offers 10 make an awarn or sellle (j CltHOl lor damages Borrower fEUls 10 rospond 10
<br />Lender within 30 days after the dato the notice IS given. Lender IS auUlolllOd 10 colloct and apply Iho proceeds. at lis oplltHl elltlsr 10 resto/at Ion 01 ropalr 01 the Property or 10 1110 sums
<br />secured by Ihis Security Instrument. whether or not then due
<br />Unless Lender and Borrower otherwise agree III Writing. any applIcation at proceeds to pnnclpnl ",hall no! oxlend or postpone the due {jate 01 U'e monthlv payments mlerredt(' In paragf(lph~
<br />t and 2 or chango the amounl of such payments
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