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<br />DEED OF TRUST
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<br />88-
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<br />101658
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<br />19
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<br />THIS OEED OF TRUST ("Security Instrument"),s made on Ih,S 28th day 01 lv1a rch
<br />88 Albert Schlalch and Nadine Schlaich hunband and wife
<br />, The trustor '5 .
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<br />("SoHower"). The Iluslee is Commercial Federal Savings and Loan Assoclallon,~..
<br />("Trustee") The benefICiary is Commelclal FadElral Savings and Loan AssocJalion, which is organiZed end exlsling under Ihe laws ot Nebraska, and whose address is 4460 Farnam, Omaha, ,.,
<br />, Eleven thousand five hundred fifty two dollars and oe/lnn :~
<br />Notbraska 68131 ("Lender"t. Borrowel o~s Lender the principal sum 01 n01I~:,..
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<br />(0.0, $ 11,552 . 02 I. This debt is evidenced by Borrower's nofe dated the sama date as this Security Instrument ("Note), which providas lor monthly paymenls, with t~~,
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<br />tuK debt, If not paid earlier, due and payable on Ap r ill. 1 994. . , . .:'
<br />This ~rity Instrument secures to Lender: (alIM repayment ot the debt evidenced by tho Note, wilh mterest ami all renewals. extensions and modifications: (bllhe payment of all other
<br />s~, with interest, advanced undltr paragrapl' 7 to prote<:1 the security of Ihis Security Instrumenl: and (c) the performance of Borrower's covenants and agreements. For Ihis purpose,
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<br />Bormwer irrevocably granlS aoo ronveys to Trustee, in lrust, wilh poWllr of sale. the lollowing descflbed proporty lOCated m Ha'l County, Nebraska:
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<br />Lot Three (3). Block Four (4), Boggs and Hill's Addition to the City of Grand Island,
<br />Hall County, Nebraska.
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<br />which has the address 01
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<br />2015 ~1. 12th
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<br />Grand Island,
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<br />Nebfaska
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<br />(Straell
<br />("Property Address1.
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<br />(Cil'll
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<br />L
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<br />TOGETHER with all the itnpn)Ylll1'1erlts now or hereafter erected on the property, and all easements. nghtS. appurtenances, renlS, royalties. mineral, oil and gas rights and profits, water
<br />rights and stock and all filllUres now or heleafler a part of the property All replacements and additlO/1s shall also be rovered by this Secunty Instrument All of the foregoing is referred to In
<br />this Sewrity Instrumenl as the .Property.'
<br />BORROWER COVENANTS that Borrower is lawfuily sa,sed 01 the t'slate Itereby ronwyOO and haS Ihe nght to grant and ronwy Ihe Property and that Ihe Property is unencumbered
<br />elcep! for encumbrances of r8COl'd. Borrower warranls and WIll deteoo generally the hlle 10 Ihe Properly agamsl an claIms and demands. SUDlect to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenanls lor naliOnal use and non.uniform cOIIBnants ",Ih limIted varialions by lurisdicllon to conslltute a unIform security instrumenl
<br />COYlIring real propeIt>J.
<br />UNIFORM COVENANTS. Bormwvr and Lender covenlllll and agree as followS:
<br />1. ~ of ~ wtd IntIINSl:; ~men! 80d Lm C~ Borrower shall promptly pay when due the pnncipal 01 and Inlere~t on the debl evidenced by Ihe Note and any
<br />~ and late chaIges due under the Note.
<br />~ Funds for lUes ~ m.unnce. Subjeclto appljcable law Of to a written 'Mliver by Lender, Borrower shall pay to lender on the day monthly payments are due under the Note, unlil
<br />!tie NoIe is paid in full, a sum ("Funds") equal to ornrtwellth 01: (a) yearly tBles and assessments which may anain priority over InlS Security Instrument: (b) yearly leasehold paymenls or
<br />ground renlS OIl th8 Propeny, if any; (cl yearly hazard insurance plemiums: and (0) yearly mor1gage Insurance J:f8miums. if any. These IlemS are called "escrOW items.' lender may estimate
<br />Ihll F~ due on 1M basis of CUITOrlt MUI and ntuonable eslimatas of future HCfOW itltrTlS.
<br />The Funds shall be held in an institution 1he deposits 01' acx:ounts of which are losured or guaranteed by a federal or state agency (including lender it Lender is such an inslllulion). lender
<br />sNI ~ the Funds fa P8Y the escrow items. LeOOer may not chIrge for holding and applying the Funds. ana!yzir\9 thi) account or verifying the escrow items, unless Lender pays Borrower
<br />~ on ItK; Funds and appliCable law pemlits lender 10 make such a charge. ~r and Lender may agree In writing that interest shall be paid on Ihe Funds. Unless an agreement is
<br />rMde or applicable '- rwquir9s interest to ~ paid. L!lf"der shall not be required to P!rt Borrower any _nterest or eamings on Ihe Funds, Lender shall give to Borrower, withOut charge, an
<br />.... accounting d. the Funds showing Cf8dits and doebit$ to the Funds and the purpose for whlctl each debit 10 \he Funds was made, The Funds are pledged as additional security for the
<br />~ secur8d by lIliI Security Instrument.
<br />If the amount of the Funds held by Lendef. tOge!llltr with \he future monthly paymenlS of Funds payable prior Ie, lhe due ciates of the escrow Ilems, shall exceed lhe amounl required to pay
<br />!lie HCI'OW items wt'ln dull. \he elcess shall be. at Borrower's option. either promptly repaiO to Borrower or cred~ed to Borrower on monlhly payments of Funds. If Ihe amount ollhe Funds
<br />held by Lefldef is not sufficienllO pay the escrow .Iems whEtn due, Borrower shall pay 10 lender any amount necessary to make up the deficiency In one or ;nore payments as required by
<br />Lender.
<br />Upon payment in fuR 01 all sums sewred by thiS Security Instrument. lender shall promptly relund 10 Borrower any Funds held by Lender. 11 unde, paragraph 19 the Property is sold or
<br />aaPr8d by Lender, Lender sMll apply, no Ialer than immediately prior 10 the sale of the Property or rlS acqUisition by Lender. any Funds held by Lender at the time ot appllcalion as a credit
<br />~ !he sums secured by this Security Instrument
<br />3. "51I1'lr ~Dfl of ~mene.. Unless appIic:atlle law provides othelWlse. ad payments receIved by lender under paragraphs 1 and 2 shall be apphed: firsl. to late charges due under the
<br />Note: 5lICOl1d. 10 pmpaymenl chafg;Is due under the Note: third, 10 amounts payable under paragraph 2; tourlh, to Interest due: aoo last. 10 pnncipal due
<br />c. a-g.; u.ns.. Bom:Mer SIl8I1 pay an ~es. assessmen1S, charges. fines and Imposl!iOns allribulable 10 the Properly which maY allain priority over this Security Instrument, and
<br />leaMhoId payments or ground r!lfIts, it any. ~ shall pay lhese obligations", the manner provided ,n paragraph 2. or il not paid In Ihat manner. So,""",!!! shall pay them on time directly
<br />to \he ~ QWBd payment. Bor~ shall promplIy lumtSh to lender all notices 01 amounts to be paid under this paragraph. II Sorrowe. makes these payments directly, Sorrower shall
<br />prompCIy furnish to Lender JUleipls eOOencit'og the paymnnlS.
<br />Borrower ~ promplIy discharge any lien which has pnority O\I8r this Secunty Instrument unlilss Borrower: (a) agrees l!'I ...nllng to the payment 01 the obhgallon secured by the lien in a
<br />~ .........labIre 10 LendlIf; (b) contests in goocllaith the lien by, Of defends &gainst enlarcement 01 the hen In, legal proceedings which In 1M Lender's oplnjon operate to prevenl the
<br />...lIboe..Ief,1 of tho lieo or forleituro of any part 01 the p:operty: or (cl secures trom the holder 01 the lien an agreement satisfactory to lender subordinating the lien to this Security Instrumenl
<br />If L.endef detelmines thaI any ~ of !he Property is subject to a lien wtolch may anarn priority over th.s Serurity Instrument, Lender may give Borrower a nollce Klenlitying the Iren. Borrower
<br />sIwI satisfy the lien or take one or more of the actions set torth above WIthin 10 days 01 !he gMng of notice.
<br />S. ttu.d ~ aom-r shall keep the improvements now existing or hereafler erected on the Property InSUre<! agalnslloss by lire, huards 'nch.Jded within Ihe term "extended
<br />~. lW1d any octMof hazards for which Lender requiJes insurance. This ",surar.ee shan be maIntaIned in lhe amounlS and for the periods thai lender requires The insurance carrier
<br />pIOriding IIle insurance shall be chosen by ~ subj9clto Lender's approval whICh shall not be unreasonaDly withheld.
<br />AI ~ policies rod ~ shall be acceptable 10 \.eOdtlr and !hal1lOCluOe a standard mor1gage clause, Lender shall have the nghl to hokllhe policIes and renewals II lender
<br />~, ~ shaH ~ give to Lender all receipts of paid pt@miums and renewal notICes In the evenl 01 loss. Borrower shali give prompt notice to the msurance carrier and lender
<br />lAnder 1M)' IMka proal of loss if not made promplIy by Borrovwer.
<br />lJnIMs LAnder and ~ lllI1erwise agree in writing, in!otJrancl' proceeOs shall be apphed to restoration or repair of !he Property damaged, If lhe restoralion or repair is economically
<br />..... rod lAMer's secu;ity is not lessened. H !he restoration or repair IS not economICally feas,ble or lender'S secunty would be lessened, the Insurance proceeds shall be applied to the
<br />SUIN MCUI'Ml by !his 5ecI.triIy Instrument. wheIt1er Of noIlhen due. with any el<C6$$ paid 10 Borrower. It Bormwer abandons the Property. or does not answer within 30 days a notice from
<br />L~ It* !lie insurance carrier has offered 10 serde Ii claim, the Lender may collect the inSUrance proceeds, Lender may use the proceeds to repair or restore the Property or to pay sums
<br />.and ~ It* SecunIy InstnIment whelM! or not then due. The 3(}Qay peood win begin when the notice Is given.
<br />l.IrNu LencIet Il'ld ~ 0lheIwiM 8V"" in \~. any appiir'--atiOn 01 proceods to pnnorpai shall 001 elllend or poslpone the dUll date ollhe monthl)' payments relerred to In parag.aphs
<br />1 tnd 2 Q( c:hat'qe the amount of the peyments. If under paragraph 19 the Property ,s acqUIred by Lender. Borrower's nghtto any 'nsurance policies and proceeds msulling from damage 10
<br />..~ prior to the acquiMion shall pass to Lender 10 L'Ie extent of the SUmllll4lCUred by this ~rity InSlrumenllmmediately pna' to the acquisition
<br />L r._ .A....... 1IlAI*,__ of Prot*'tY; L..l1ho1M. ~ $haD not destroy. damage or substantially change the Property. allow the Property to detenorsle or commIt wasle
<br />"1IliI ~ InStrUment is on leasehold, ~ shall comply WIth the pr(MSIOOS ot the lease, and II Borrower acquires lee Iltle 10 the Property. the leasehold and fee htle shall not merge
<br />.....l.enlMt agrees 10 the merger ;n wnt:ing. .
<br />7. " I lion of ~'. Aights lnttw P1'opwty; ~ m-ence. 1/ Borrowe. lalls to pertonn lhe covenants and ag'CilmenlS contained in thIS Security Instrument. or IhNe 's a
<br />~ ~lQ IhatlNl)'siQrnfrcantty affect Lender's rights in the PropeIty (S!;eIl as a proceeding on bankruptC'/, probate. lor rondemnation or 10 enlorce la.....s or regulat,onsl. then lender
<br />mer 00 ItI(i PolY lor.hMewr IS ~sary to prote<:! the W11ue of lhe Property and lender's nghts .n the Property lender's actions may Include paY"19 any sums ~ecured by a hen whIch has
<br />priOI'Jly 0Wf tnis S<<uiIy In1itrumeot. appearing in C()l.'Jt. paying reatonable ellorneys' fBilS and enlenng on the Property to make reps"s. Although lender may take aChon under Ih,s paragraph
<br />1, L..- does not ~ 10 do $0.
<br />Mf lIIl\OUI1lI ditbulMd by LenrMr undlK tM patagtaph 1 shall become addltionel d&bt 01 Borrower secuted by thIS Securily tnstrumenl Unless Borrowe' and lenaer agree to otMr lermS
<br />of ~ IheH wnounts U>aII ~ :nterest from the date 01 disbursement at the Nota rale and Shall be payable. .....'Ih ,nlereSt. upon nOliCe Irom lender '0 Borrower requesl,ng paymenl
<br />II t..nI>>f ~ morlg8ge lnsufance u a condllioo 01 making the loan secuted by thiS Security lnslrumenl. Borrower shaM pay the prem.ums reqwed to ma,nla,n the Insurance ,1'1 effect
<br />~ IUCh tirM .. fle IequiNmenI for the inMKance t.,"""ale, in IICCOfdaOCQ w,th Borrower's and lender's "",tten agreement or applICable la...
<br />. L l" IL,~ L...o.r O/f lIII ~ may make ",asonabIe entr_ upon and inspeoclions 01 the Property lender shall glV8 Borrower nollCe <lllhe time 01 or pnor to an 'nspe<:llon speclfy"'g
<br />.-. ...~ fat 1Iw~.
<br />..ce.llItl _In.. TI'Mt ~ of any _rei Of Claim lOt d~s. d....:t or consequ<J{ltlal. If1 CQnf>B(;bJn ....Ih any cofl(lI~mnahon Of other laking 01 any pRrI 01 the Property, 0' to'
<br />~ ICe' in WI! 01. OClt..iemnabon. ant hefBby 8U1Qned a."ld Shan be paid to lend...
<br />1I'l.....-.I Of II lOIIIl !ilI<ing Of h Prop.<ly. II14l ~ $IleJ\ be lIppi'''' to the BumS s<<U'ed by I,~'S SecurIty InSlrument ...helhE'r or nol Ihe" Que w,lh Rny e.cess paid 10 Borro,,"e, '"
<br />rr.......-.I of II ~!IlII ,...~ of II>> P~. unlIlu 80{f~ and lltf\def otMrMH !l9rH In .......h"9. Ihe sums secured l>y ,h,s Secuflly Instrumenl shaH b<l reduced bv I"e amounl 01 IhI-
<br />~ ~ bylha 10II00t>ng ',1dJQn lal .". lol&l amount of the ,urn, ucure<.1 ~,al(tly lxItore lI1e laking (J,""'ed by ,01 In.. 'ad ma'....1 v",ue or the P'operty' ,"'me-1m/ely belo",
<br />h IlI1llr'o9 My ~ $ha!I be pa.d 10 ~~
<br />If .. Ptaperty ~ ~ by ~. Of If, _".., not..ce br l......jfpf 10 (browe' th.., the cor.oomnor ottefs 10 mAk~ an ll~ltrO (n 'S.~mo ,i cla'\!'n 'Q; dtl;rn"'9"!- [\~rT(J""''l.f lilll!; 10 reSPOnd ~0
<br />lAndef _.........., 30 day" .f~ Ihf t,.t. ~ t".()tIclf 11 ~n lend9t " 8LI\hQI'lI(k1 to tof1.ot-1 and iJf~.ilJ ,h-tt t.'fOCc.!'@-d~ t1:! lt~ ..."PliOM ~IV"!et t{'> *"\tOfl\hl')ot'l .")0' tl:o-pnl; d 1".~ PrO.p-il'f1y or !(" "...,.. sums
<br />~ tit lhLI S<<unty 1n,'NmeJ~ ....n.m.. (V no1 u,.n <1<,.
<br />~. Ltr"fJOt a.i1d OorJ~ ~).. ..~.. t(l '.~'ihng iii"" ~(;.1"" of ,...oc.e.dt to rjftflC1IIal \11-.11! n{)' e.f@'~'j ;)' (:x-,~!{1Po!'h" H.,., t)o~ d~19 n.' :1~4-0 -H"'(.f"I'''~ ~\A...It-t..,~~, 'rH'H',-'d In 'f'l n.v.Hl'.f\Pf'1'J
<br />, WId 1 {it cl\r;nQe me am:.ur.l (j. IUUl ~n"n!, -
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<br />~... ,,,,., '.;.- ..; 11 t
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