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f 88-- 101651 [Space Above This line For Recording Data] DEED OF TRUST THIS DEED OF TRUST ("Security Instrument") is made on ~larch 28 19 88' The trustor is Michael R. Schlachter and Kathleen A. Schlachter, Husband and Wife ("Borrower"). The trustee is Arend R. Baack, Attorney at Law ----- ------ - --- --- - - - - --- - -- - -- - - - - - -- --- --- -- - --- - ("Trustee"). The beneficiary is Home Federal Savings and Loan Association of Grand Island J which is organized and existing under the Jaws of tJebraska , and whose address is 221 South LOcust Grand Island, Nebraska 68801 ("Lender"). Borrower owes Lender the principal sum of Thirty Eight Thousand One Hundred Fifty and no/1oo - --------------------- --- - Dollars (U.S. $ 38,150.00 ), This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, irnot paid earlier, due and payable on April 1. 2018 This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals. extension:> and modifications; (b) the payment of all other 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, Bnrrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in Hall County, Nebraska: Lot Seventeen ( 17 ) , J amson Subdivision, in the City of G rand Island, Hall County, Nebraska. The riders to the mortgage attached hereto and executed of even date herewith are incorporated herein and the covenants and agreements of the riders shall amend and supplement the covenamts and agreements to this JOClrtgage. UTHIS LOJ\N is r,~~_"- '~<~UM~,8lE WITHOUT TH~- APPROVAL OF THi: \JE', il?ANS AOMINISTRATIO~\ OR ITS AUTHORIZED AGENT" which has the address of 415 East Oklahoma (Streetl Grand Island [City) Nebraska 68801 [Zip Codel TOOETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or hereaftera part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BoRROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to granl and convey the Property and thatlhe Property is unencumbered, except for encumbrances of record. Borrower warrants and wiUdefend generally the title to the Property against all claims and demands, subject to any encumbrances of record, Tms SECURITY INSTRUMENT combines uniform covenants for national use and nOll-uniform covenants with limited variations by jurisdiction to constitute il uniform security instrument covering real property, ("Property Address"); NEIRASKA-Slogle r /IfT!ily-f"MA / fHlMC UNIfORM INSTRUMENT NiS l164NE form 3028 t2/83 '....."(;1.. LN.. r",,,,." Fm" ltl~