|
<br />DEED OF TRUST
<br />
<br />88-
<br />
<br />102319
<br />
<br />THIS OEEO OF TRUST ("Security Instrumenl") os ma9<' on Ihis ~ . J . H b day qf ~a~ . f
<br />88 Jerome L. Gelger and ~ . Gelger, us ana an 1 e
<br />19_. Thatrus1oros DIClIllIt:
<br />("Borrower"). The trustee is Commarclal FederaJ Savings and Loan Associallon.
<br />('Trustee"). The beneficiary t. Commercial FedefaI Savings and Loan AsIocIallon, which Is organized and existi(1g undfr Iha ''''9 of.Nebrasl<!, and w!loV,j\ddress Is oWlO Foamoii'oo~maha.
<br />Three Thousand One Hundred Ihlrty IWO DOllars ana
<br />~Y'3~':'mt"). Borrows< owes Lender Ihe principal sum of
<br />(US $ ,. ). ThIa debt is _ ~ _s nole dated the aame dale as Iht. Security Instrumen1 ("Note). which provides for monthly paymenIO. with the
<br />lull debt. iI nol paid earlier. duund payeble on May 20. 1990
<br />Thll Security Inlllrument HCUflIIIIo Lender: (e' the _I 01 the debt twidanced by the Nola. with Interesl. and aIi ren8Wllls. extensions and modiflcallons; (b) the payment of all OlI1er
<br />Suml, with intereet. _ under paragraph 7 10 protect the security 01 tht. Security Inlllrumen!; and (e) .he perfor.nance of 8ornJwer's covenants and agreements. For this purpose.
<br />
<br />Borrows< irrewcably grants end conwyslO Trust.... In trull. wllh power ot sale. thelollowing describe<' oropeny Iocaled In Ha 11 County. Nebraska:
<br />
<br />Lot 1. Block 5, Morris 4th Addition, City of Gru~~ Island, Hall Co., NE
<br />
<br />whIct1haslheeddfnsof 119 E. 20th Gran;CI Island
<br />(S_I (Cityl
<br />__ 68801 ("""'-ty Address"':
<br />TOGETHER wotIl aM the improwmento now or herearter erected on the -'Y. and oil easements ngh\s. appurterW1C8S. 18I11S. royIIIJes. ....m. OIl and gas ngh!S and ;xclils. _
<br />nghIe end _ end aM _ now or heraalter a pall 01 the properly. All repIacemenIs and additions shall also be COVIIntd by tIu Securlty InslIumenL AI of the IoNgaing is _ to on
<br />thel Secunty 1nIIrur;,..,. IS the """'-ty.
<br />BORROWER COVENANTS thaI Borrows< .s Ift1uIIy seised 01 the eslale hereby c:onveyIld and has Il'le rigl1l1o grant and conwy Il'le Proc>eny and 1haIllM! f'mI*ly IS unencun'I:letBI
<br />e--' lor ~ 01 recon1. Borrower w.rranta and wiI _ generally the hUe 10 the Property agaJnSI aI dalms and _. SUIlIeCIID any enc:umtnnces 01"""""
<br />THIS SECURITY INSmUMENT canbi_ uniform ~ lor nalionalUM and non.unifonn COVIII\ItnIS wiIh _ \W1a1IOnS by jUI1SdiClian ID conslIIUle a uniIarm sear4y _
<br />ClWftlg .... property.
<br />UNtFOAM COVEHANT5. Borrows< end Lena. ClMIWll end lQlee as fOllows:
<br />1. ~ OIl ........... ... --..: .........- ... u. ClIargeL Borrows< shall prampl1y PIll' _ due the pnrlCIpII/ of and ~ on ........ _ by.... _ and anv
<br />~ end _ c!*98I-"- the Hole.
<br />Z. "- lor ........ _ Subjecl to appIicIIbIe law or to a wrmen _ by Lender. Ilonow..- shaI ~ 10 Lender on llle <Soy montnIy __... due"-llle Hole. until
<br />Il'le Nole Ie 1lMI"' lull. a _1.F.....") ~ 10""- 01: (a) yurty.... and............. _ mar _ ptlOI1ly lMr_ s.any '- lbl-'Y _ PfIl'I'*IIS or
<br />ground_on Il'le""-'Y." -..y; ICI yurty hazardlnlurance prMtliuma;and (d) yurtymortgage inSInnceprwnwms." any. n.._..~-_ 0lemS.-........lMl'_
<br />IIlaFundl_on llle _01........_ e!'ll__0I1utln__.
<br />T1ItI FundI_... _ II an _1Ila depoeIIs or aa:ounlI aI_ ..lnIInd or ou...- by a -.. or _ _ tincluCli>g ..... d..... ISlIClan _1.1.ercW
<br />-1IllPIY IIla Funde Ill""'" _........ Lender ,.,., 1101 charve lor holding and applying the Fundi, ~ Il'le Kl:OUnt or..myong the _ -. _..........,. &orro-
<br />- on Il'le Funde end ~ law permIla Lender to ~ IUCh a awg.. ~ and Lender may agrw on wnIIng IhaI ~ IhaI be I>Ild on llle FuncI&. ~ an ~ is
<br />- OI"-,,,Iaw ~ _to lMll>lld. Lena....... 1101 be ~ 10 ~ ~ any _ or -.go on Ll1e __ ....... Sl1aI gMlto~. -.out cr.ge. ..,
<br />- accounling 01.. Funde -. _ and _to the FundI end Il'le _lor _ ud1_1D the F..... _..-. T1ItI Funds.. ~.. UlIicnI MCUty lor llle
<br />..... eeancI by .,. s.any lnItrumenl.
<br />H Il'le _ 01 .. FundI _ by Lender. IOgeIIlW wotIlll'le Iutln montnIy paymento of Fundi paytIllIe pnor to Il'le Clue _ 01 the _ ....... Sl1aIut:MCl.... arnoura ~ III PIll'
<br />Ll1e - _ when _. the _s shall be. alllonow..-'I 0Illi0n. _ promplIy ~ to Borrower '" ~ ID Borrower on montnIy __ 01 Funds "l!w amcunI 01 b Fun:ls
<br />- by ....... to not adlicient 10 ~ the tIICtOW _ when dull. 80rnJwer 5haII ~ to ~ any amounI '-""'Y 10 malte up U1II defioency .. one Dr mcnt _"--.:Illy
<br />_.
<br />Upon ~ on lull 01 aIIlUma II8CInd by thII 5<<wtty 1-..1MI1l. Lender Ihel1 prompl!y _ncl to Ilonow..- any Funds _ by ........ If uncIet ~ 19 the "'-"Y IS sol:I or
<br />~ ~ Lena.. Lena. -1IllPIY. no _lI1Wl iInrnecIaIeIy pnor 10 Il'le .... of the Prope<1y '" III ~1llIon by ~nder. any FundI _ by Lender a11l'le I'lme 01 ~ .. a CSld
<br />.....lhe ..... eeancI by .,. 5<<wtty InIlrumenl.
<br />I. ~ OII~ u_ ~ law pnwi(Ies _... all paymento_lly Lender undef ~ I and 2 shall be~: firsI.lOwe~""'''''''''l!llI
<br />Nole: _.lD -" ~.... ""'* the NoIe; lhiId. to ...,..,nlS ~ under paragraph 2: fourth. 10 'nt....t due: and Iasl.ID ~_.
<br />.. ~: ~ I!orrowel ...... ~ .. lax... -.-!S. chllgel, li_ and ~ _ 10 lhe Properly wI1lch may .-. jll1Dnly CMl' .,. Seany Inslrument. and
<br />- PlIY"** or ground _. " any. Borrower .".. ~ _ obIlgalions in lhe m"""", PIVY1ded In o-.-gr.,n 2. 01 " not PM! on IhaI manner. Ilonow..- _ ~ lhem on lime dQClIy
<br />lO lhe _ D\II8d P8Y"*'l Borrower Shllll pmmplIy lumloh 10 Lender all notion or amountS 10 ... paid uncle< lhll o-.-graph If Borrower _ _ payments dncl/y. Borrower ......
<br />promplIy - to ....... ~ .-..ng lhe PlIY"**.
<br />~ - promplIy ~ any Wen _ haI prJonty ""'" \hi. Security In5lrumen1 unleu Borrows<: (I' __ on wntJng 10 the payment of the 00IigaII0n ......... by .... _ on a
<br />nw>ner ~ lD Lender; (bl ~ In good IMIl the lien by, '" defttndl agaonlt enlorcemen. 01 .... lien In. legal proceedings wIUch on the lender's ""'""'" operale 10 P<ewnllhe
<br />enlon>>menI 01 the Wen or -.. 01 any pari 0I1l'le f'mI*ly: or (C) IMICUra Irom the holder 01 I"" lien an ltglWIIllll'lt sa"leclo<y 10 Lender sullOnIinallng tile _10 lhls Secunty tns:rument
<br />II ....... _ tIIal any pIIrt 01 the ""-'Y IIIUlljec1 to a Wen which may lIllain priorlty over Ihos Secunty Ins~. Lender may gNIIllonow..- a /1OlICS Idenlilyong .... _ Bonowe.
<br />- .-y the Wen or tal<a one or mora of the actiona Hllor1ll _ WIthin 10 days ot the gIVing 01 notICe
<br />.. Haard _ ~ shall kllllp .... I/IlIlfOWIIMIlllS now e..5lJng Ot herearter erected on tile Properly msUl"" _I IOu by ,", _ l11CIu<leQ WIlIlln the WIn "ex1Mde<l
<br />~" IIIlI 8ni _ _ lor _ Lender ~ inoulance. ThiS _ 5/I.D Ile mainI&Ined '" I"" IInOunt> snd lor the penoas lhat Lenaer reQIJDa The '"""'"""A camo<
<br />pr-.g Ihe _ _ be __ by Borrower subjeclto Lender's ~ which Shall"", be unreuonably Wl\tlheId
<br />All _ poIicjM _ __ IhaII be accaptabIe 10 Lender and ...... lncIude a slandllld ~ _ Lender Shall nave the ngtll to hOlCIll'le poIcIes and renewals. " Lender
<br />~. ~ shall ptIlmpIty gM to Lender .. rwaMpls 01 peel plWmiums and -' notlcH. In the _I 01 IOu. Bonower shall \lMI prompt nolallO the msurance carner ana Lender
<br />....... may ~ proal 01 Iou II not mada prompIIy by Borrower.
<br />~ Lender and Borrower -.. _ in writing, Il1IUrwlClI proceed. shall be applied 10 111_ or _ o1lhe PTOpe<ly d3magad. if the __ or ~ IS econormcany
<br />- end Lender'1 eealrity is 1101 _. II Il'le _lion or .-palr IS not economICally feasible or Lender's security woukllle _. the onsursnca prOClIe<lS Shall be &llllH<I to the
<br />..... eeancI by rhiI Security I~ _ '" not then dull. with any e'~"llaId 10 Borrows<. It ~ aIlan<Ion5 the Properly. '" _ not __ IMlhon 30 days a nobCe !rom
<br />L_ _Il'le _ carrier haI_lD _ a claim. Il'le .......1IllIy coIIeclthe inIurance PfOC"da. Lender may UM the PfOC"da 10 _ or _lhe Properly Ot to pay oums
<br />II8CInd by .,. SecurtIy 1_. _ or not then due The 3O-day period wiD begin _ lhe ""lico IS gNen.
<br />~ Lena. and Ilonow..- __ _ in writing. any application 01 PfOC"da to prJncipaIlhaI noteKlllnd Ot pootpone the due llate of.... montI1ly paymenlI ralerrecllo ... paragrapns
<br />, end 2 or cIIange the amounI ollila paymenlI. If uncIar paragrllllh 19 Il'le Properly t. acquirad by Lender. llclrmMr's righllD any Insurance polides end proceed. resuthng Irom damage 10
<br />lhe "'-l\' prior to Il'le _lIiIion _ pua 10 Lender 10 the elCtenl 0I1l'le IUInI IMICUr8d by II1Is Security lnolru..-t Immedlataly prior 10 the ~.
<br />.. "- _.... ............. of "'-'Y: ~ Borrower shall nol _roy. damage or sub5tantially change the P-,\<. aJIow Ihe Propeny 10 detenorale or commd _
<br />II IIliI SecurtIy IIlIlNmenlIl on _. Borrower ...... comply with the prDVIlIOIl. 011"" Ie.... and II Ilonow..- acQUlra tee tIlIe 10 the Propefly. lhe leasehold and lee liUe shaD not merg~
<br />.- ....... &gran to the "*1181' in writing. .}
<br />1. "'-' OIl ~.1IlgIlls In llIe "'-'Y: ........ -. II Bonower leli. 10 perlorm the covtInanle and agreemenle con~_ In th.s Secunty Il15trum.nt. or th.... .. I
<br />legal ptOC&edIng Ihat may ligr>ificantty aIIecI Lende"s nghts in the Property (such as a procoedlng .n bankruptcy. probale. lor condemnatIOn or 10 anlo"'" laws 01 ragul.llOn.l. tIlen LPI10.r
<br />may dO and ~ lor _II nacelMlY 10 proIeCt tile vMJO 01 the Property and Lander's nght. on the Properly Lende"s sel.ons moy .nclude P8ylng any sums sacuroa by a hen wlIoch h..
<br />prlarity t:I'* Ih6I Secunty 1nItrurnent. IPPHf1n9 In court. peytng ~ anomeys' 'ees end entenng on the Property to make repairs Arthough Lender may lake actiOn uncter Ihl, P8J1IOfADJ"l
<br />7, Lender _ 1101_10 dO c.
<br />. Mot atTlClWU _ by Lender uncIef thII paragr.,n 7 Shall become additional debl of 8orn>wer IMlCUroaby Ihis Sacunty Inslrum.nt. Unless Borrower and L~r agree 10 otno< terms
<br />of p-.,ment, thMe M'ICJUntI.... bHr tn...rnt from the dala of d41burMmenl II the Note rat. and shall be payable. With intlHWsl. upon notiCe rrom L.&nder to BolTOWlr requeShno paymenl
<br />If ~ ......., IlIDf1gege inIurInt>> u . condItiOn of matdng the loan secur.d by this Security Instrument. Bol1"OWlf shllt pay the premiums r&QUlmd to maintain !he Insurance tn effect
<br />unllllUCh time _ ... ......."..". tor !he inIOrMCII termtnatH in ~ with aorrow.,'s and Lender's won.n avreemenl or applicable law
<br />.. ............ UncMr r;w ItIIQlflt "'-Y makl rwaonat>>e entriM upon and InspecttOns ot the Property Lender 111.11 gIVe Borrower nohee at the bme of or pnar to 8n InspectIOn speof'ytng
<br />- _lor the "-"ion.
<br />t. C.nll............. T'he PfOCMdI of My 8lflIWd or clawn for d8l"l"lagll1. dlrKI or consequential, In connecuon With any condtiTlnllhon or other laking 0' any part Dr the p~. or for
<br />~ In lieu oI....-....uon. _!-.by USIgned and "'ell be palO 10 Lender
<br />In hl'Mnl ofe ~ 1.IWng of '" Propefty, the ~ ahaII be appIted to tM sums secured by lhl' Secunty Instrumenl whf!lher or nol tnen Clue. Wllh an\, e.cess Dald to 8onower II"!
<br />.... ftWlt of . partW ~ of the Propefty, t..aNH1 Borrower and Lender OCherwiH "Or" In wntlng, Ihe sums 19CUllHj b\, Il'lls S&cunT)o Inslt1Jmenl shall be MducecJ b\' Ihe amounf 01 ",.
<br />proceedI, ~ by'" foIlowl1"GJ hW:tion. (a) the lotaIlmount of flw aums secured Immediately Defore 1M 1a.lililog dlvtded bv Ibllhe lair mar1lel value althe Propert", Immedl4~ty berOttl
<br />the '..ong Mot balance _ be palO 10 Borr..-
<br />II me Propetty 111C1InCIOned ~ Bormw.r. 01 d_ an.. I'lOtiOI by Lllnder to Oorrnww, fha11he coMemnor Off"'!I10 mllke an award 01 Ilenle a r.lalm for narnagfl& Bort0w8f falls to rvst'<>Od to
<br />~ MINn JO aav. Ifter OW ~ the notiCe II Qtven. LendlllI aulhonlld 10 coIlod Bnd apply Ih~ proceedl nl Its OOhon l'llhpl It' tnSlorollof' III ~palr 0' IhA P'operh or In !hE! sums
<br />IlK"'" by th:1 Secumv InatnJ~nl vmell\er 01 no' ttwtn dlIe!
<br />'-'""t". L~ lIneS Bor-ro.ef ~ &f;'M In "';lltnQ. anV aoplicllbOn 01 proceedllllo P"l1CIpal Jhall not (Ulena 0' pQsfponlt rhfll \1ullI 1'1018 ..,1 ,h(' .,.,C\nlhl\' Pft~monl5 I't'I"n~ll\1 In pa'"'Q'l'Iph'!l
<br />, IInd 2 Oil m.nae ChI amount at IUCh D.vme~
<br />
<br />,"" ""l' ~F .,'~.
<br />
|