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<br />DEED OF TRUST
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<br />88- 102500
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<br />THIS oee.Q OF TRUST (". Secu!ity InllllUl1!8f1l"l's 9l~<lll on this 9 dax 01 May
<br />8~ tawara D. u urien and Donna M. O'Brien, Husoand and Wlfe
<br />19 _, The lrustor IS
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<br />. ("Bonowor,: The truS1H Is Commllfclal Federal Savings and Loan Association,
<br />("1'nJSlee1, The _lory is ComIllllfCial FedetaI Savings and Loan Aasoclatlon, which Is orgaiilzed and existing under the laws or Nebraska. and Who58 addntss Is 44IiO Farnam. Omaha.
<br />Nebraska68131{"~r'),BorroweroweaLendertheprincipalsumoIFivp ThouC:ilnr! Fivp Hunr!rpr! Sixt,y Four nnllnrc; nnr! ?fi/lnn Dollars
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<br />(U,S, $ 5,564.26------) ThIe deIlt is _ by Borrower's note daled the same dale .. this Security Instrumenl ('Nole), which provides lor monthly paymenb. with the
<br />lull-, II not paid _Ier. due and payable on May 15, 1992
<br />Thla Security Instrumenl secufHlll Lender: (a) the repaymenl 01 the debt evidenced by the Nole, with Interett, and all ",newall, extenslons and modifications; (b) the payment 01 all other
<br />SUI1tl. with IntenlSl, adwnced under paragrapI\ 7 10 proteel the security ollhl. Security tnllnlmenr; and (c) the perfOIl'lUll1C:. 01 Bonowor" ~ and aglMlllllfl'" Fer this purpose.
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<br />Borrower imIVocabIy granlll and COfMlYIIO TruatH, in lruSI, with power ot sale, the rollowing described property Ie<- ,,'oj.n : ~ a 11 County, Nebraska:
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<br />Lot Sixteen (16), R & B Subdivision, Grand Island, Hall County, NE
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<br />which has the add.... 01
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<br />4020 Patchwork
<br />(SInlet)
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<br />Grand Island
<br />(City)
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<br />L
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<br />Nebraska 68803 ("Property Add"ss1;
<br />TOGETHeR with all the ~1lI .- or he",a"er erected on lhe property, and ell easements, rights. apptlnenances. rents. rayaltles. mineral oa and gas righls and profits. water
<br />righlI and _ and a111ixlunts now or hereetler a perl 01 the property. All replacements and additions shall also be covered by this $eaJrity InsuumenL AD 0I1IIe Ionlgoing is "_Ill in
<br />this 5ecurily Instrument u the "Prnporty."
<br />BORROWER COVeNANTS that Borrower Is lawfully seised 01 the 8I18te hen!lly COlMIyed and has the righllll granl and convey the Pnlperty and 1ha! the Prcper1y is Ul1IlflCUl1lberd.
<br />excepllor encumbrllncee 01_. Borrower warrants and wiN delend generally the title to the Property agamS1 ell claims and demands. sub;ecl1D any encumbnInces or _.
<br />nus SeCURITY INSTRUMENT combines uniform cawnants lor nationat use and IlOIHlnllorm covenants with timited variations by jurisdiclion to consliIuIa a uniIorm security insllumenl
<br />CO~11Q ..at property,
<br />UNIFORM COVENANTS. BomlwIor and Lender COWIl1Il1t and agree ... follows:
<br />" PIytMnt ofl'rtnc:ll* .... __; "'-"'*" and ~ ~ Borrower shall promptly pay whfm due the prinapat 01 and mleleSl on IIle Cleb! evidenced llI' the Nola and any
<br />prwpII)'nIeRt and _ cNIIVH due under the Note.
<br />Z. ~ for 'lllue"" _ Subjoct III ~ law or III a written _ by Le-., Borrower shall pay to Lender on the dev monthJy paymenIS B1lI clue under IIIe Note. unliI
<br />the Note is pIIicI in full. . IUlTI ('Fundl1 ~ III OM-_ 01: (a) yearly _ and &IMSIllIef1ts which RIa)' _ priorlly owr this $eaJrity Instrument; (b) yearly _ payments or
<br />ground _ on the Property. II any; (c) YHl1Y _ insunonca pIM1lums: and (d) YHl1Y mortgage maurance pramlul1tl. II any. These ijeml _ catIed "escrow dams.' Lender may __
<br />the Funda due an the _ 01 currant <lata and .......- _. oIluIIn _ llama,
<br />Tha Funds _ ba _ in an inslItutian the depoollI or accounts 01 which ..Inand or guaranteed by a ,_ or _ agency (including Lender II Lender is such an inslilu1ion).l.enclef
<br />_ apply .". Funds III pay the MCrOW llama, Lender may no! chaIge lor hoIcIing and applying the Fundi. analyzing the account or verifying the ncrow items. unless Lender pays ~
<br />_ on the Fundi and ,-Iaw permilI L_1ll make such. charga, Borrower and Lender may _ in WJiting that in_I shall be pIicl on the funCls. U_ en aglM!Il8l1l is
<br />~ or ~ .... teq\NH i_ 10 ba pald, Lender shall not ba roquInId III pay BomlwIor any int_ or earnings on the FuncII. Lender lI/laII giW III BomlwIor, wilhout ctw;e. an
<br />annuIlIlICCOUl'IIIng ell the Funds Ihowfng ..-1Ind _10 the Fund. and the pu_ror which aach llIlliIlllthe Fundl_~. Tha FWlda.. pIadged .. _lI<IaIrity tor the
<br />apma MCtnd lly this s.cunty I~ .
<br />" the amount 01 the Funda haId by Lender, rogether with the lulu.. monthly payments 01 Fundi payable prior III the Clue datu DIllie .ICI'DW ItemI, shall _the amounl required 10 pay
<br />the _ iIlIm. wilen due. the ....... _ ba. at Borrower'. option. either promptly repalCl to Borrower or creditll<llll Bonowor on monthly payments or funCls. IlIIIe amount of the Funds
<br />held by Lender Is nolsulficient III pay the.1CIOW ijems when due, Borrower shatl pay to Lender any amounl necnaary to make up the eleflclency in one or more payments u required llI'
<br />Lender.
<br />Upon payment in lull 01 ell SUIl1!l secullld by this Security Instrument. Lender .hall PfOf11PlIy ..!unCI to Borrower any funCls heidII\' Lender. It under paragraph 19 IIIe Pmpeny IS SOle Of
<br />acqund by Lender, Lender _ apply, no later than Immediately priof to lhe oate oIlhe Propfily or its acquisition by Lender, any Funds held by Lender al the ~me 01 appIica1Jon as a creCl~
<br />aga\<1Il the IUfI1lI MCured by thI. Security Il1I1rument.
<br />3. AppllcatIon of ~ Unless ~ law provlCle' olhllfwise, ai' payments _ by Lender under paragraphs , and 2 shall be applied: firs1. 10 late chaJges Clue under !he
<br />Note: HCOlld, Illprwpll)'nleRt cheIgee due u-.the Note; th'rd. to amounts pay8ble under parag<apl1 2; rourth, III intereS1 ClUB; and last. III principaJ Clue.
<br />4. CIlIIrgM; UIne. BomlwIor shall pay atllllxe., ....ssment., charge., fi.... and Imposition. ettrlbut_ III the Property which RIa)' aIIain priorlly <MIr this Secunty Instrumenl, and
<br />_ payments or ground _, II any, Borrower shall pay these obIlgetion. in the manner provlCled 'n paragraph 2. or II nol paid in that manner. Borrower shall pay lhem on 'ima Cllrectfy
<br />III the person owed payment. Borrower shell prornpIly Ium'sh 10 ....,.,., all notas 01 amounts.o be peICl u-. this paragraph. II Borrower makS$'hese payments directly. Borrower shall
<br />prontplfy furnish III Lender ~ evIdoncIng the payment.,
<br />BomlwIor IhaII poompIty discharge any lien which has priority owr thI. Secunty Instrument unless Borrower; la) ag.... in wntlng to the payment 01 the obligation S8CUTIICl by 1he lien," a
<br />manner ~ III Lender: (b) contuIIln good laith the lien by, or defends again.. enlorcement 01 lhe lien on, legal proceedings which in the La_r's optnion operate to prevenllhe
<br />_1 Dlthe Ilen or lorlaltu.. 01 any pari 01 the Property: or (c) secu... from.he 110_ 01 the lien an eglHlllent selislactory to Lender subordinating the lien 10 this Security Instrument
<br />" ~ _iMllhet any perl 0I1he Property Is subject 10 a lien which may DUBin priority over this Secunty Instrumen!. Lender may 9ive Bonowor a notice i<lenIilying the lien. Bonower
<br />shall setlsfy the lien or take one or mont DIllie ecllons set forth above within 10 days 01 the glvillQ 01 notice.
<br />15. HlIDrd 1n8ut"McI. Borrower IhaI keep the improvements now existing or hereafter erected on lhe Property insured against loss by fire. haZards included within the term ..extended
<br />cov.rega' and any _ _lor whlch Lende, "",uilea Insurance. This Insurance shatl be meullainad in the amounts and !or the ~ thst Lender I1lQUInIs. The insurance cunor
<br />providillQ the maur...... shall be choaen by BorrOMr subjeel 10 Lender's approval which shatl not be unr&lIOnallly Withheld.
<br />Alllnsur...... poIlciH and .- shall ba llCCOIPlabI& III Lendar and shall include a star1Cl1lCl mor1gage clause, ~r shall have the righl to hoid the po'icies and ..newals. lIl.enelef
<br />rwqu.... Bo.'1IIMf _ poompIty gNe 10 Lendar all rsceipts of paid premiums anCI..newat nota., In the event of loss, Borrower shall give prompt notice 10 the ,nsurance carrier and LenCle,
<br />Lender RIa)' melt. proof ollooa il not ~ pmmpUy by Borrower.
<br />Unieu Lender and BomlwIor _I.. ag_ in writing, insurance proceeds shall be applied 10 ..storatJOn or ..pair ot the Property damage<l, ~ the "'S1oratJOn or repair is economically
<br />_ and Lender'. security I. not Ieuened. II the l8S1oratlon or repair is not economieally reasible or Lender's securlly wouid be lessened. the insurane. proceeds shaJt be applied 10 lhe
<br />sum. secured by this Security Instrument. _ or not then dUB, wilh any excelS paid to Borrower. II Borrower aban<lonS the Property, or <loaS not ans_ within 30 Clays a notice from
<br />Lendar that the Insur...... carrier hea olfeled 10 _ a claim, the Lender may coIlec1the insurance proceede, Lendllf rnay U58 the proceed. to repair or ..sill.. the Property or 10 pay sums
<br />Ml>lIWd by IhIlI 6ecurtIy tnstrumenl, _ or not then due, The 3O-day period will begin when the nollce Is given.
<br />~ Lendar end Borrower O1helwlse agree in WT1lIng, any appIlcellon 01 proceed. to principal IheII not elllunCI 0' poslpone .he due data 01 the momnly payments ..femKI.o In paragraphs
<br />1 and 2 or cI'lanQI the amount or the payments. If under paragraph 19 the Property Is acqulntd by Lender, Bonowe,'s right to any insurance poliCies and proceeds resulllng from damage to
<br />the Property prior III the acquisition shell pus to Lender '0 the extonl 01 tho sums secullld by this Security In.trumen.'mmedlately poor III the acquisition.
<br />... ~ end MIlInt8nence of Property; L.aaMhoIda. Borrower shaH not destroy. damage or substantially change the Property, allow the Property 10 delenorate or commrt waste.
<br />If ttdI Secunty Instrument II on leueho&d. Borrower shaP comply with the provisions 01 the lease, and II Borrower acquires fee tiU. to the Property, the leasehold and fee tllle shall nol merge
<br />,_ Lender ~ 10 the merger In WJIting, "
<br />1. ProtIctIon of Lender'1 Right. In .. PropIrty: Mortgege Inlu...nce. If Borrower fails 10 perform the covenants and agreemenls contaIned In Ihis Security Instrument. or Ihere IS a
<br />legal proceeding that may ~fieantly ."eet Lentbr's rights in the Property (such OS a proceeding in bankruptcy, probate. for condemnation or 10 enforce laws or regulslions), then Lender
<br />may do and P-v for whateYar II necelUl')' to protKt the value of the Property and Lender's nghts In the Pf'OC)erty. Lender's aeUans may [nclude paYing any sums secured by a lien wnich has
<br />priotIty f1VfK thiI Security Instrument. appurfng in court. paYing reasonable attorneys' fees and enlering on the Property 10 mako repairs. Although Lender may take action under this paragraph
<br />7, Lender ClOea no! have to do 10, '
<br />Any amounts dlIburIed by l.endIf under this paragraph ., shall become additional debt of Borrower secured by this Secunty Instrument. Unless Borrower and Lender agree to alner te""s
<br />of payment. theta amounts shall bNI' Interett from the dlte or disbursement attM NoI" rale and shall be p~e, with Interest. upon notice lrom Lender to Borrower requesling payment
<br />" LendIf ~ rnortg,Ige tnsurance .. . condition 01 making the Joan seculltd by this Security Instrument, Borrower shall pay [he premiums required to mainlain lhe Insurance In effed
<br />unll-..:h time as the requlNmtnl for the lnsurlnce (ermlnal,.. in accordance with Borrower's and Lender's wrin.n agroement or applicable law
<br />Go .......... L-ender at Itt agent: mev make reuonable entries upon and InspecUon!l of the Property. Lender shall glve Borrower notice at the lime 01 or prior to an inspeCHon specifV'ng
<br />-I:a\l"lor the Irtspeclion,
<br />I. CGull........'. The prOCHdI 01 any -m or claim lor damages, dIrect or consequential, In connection with any condemnation Of olher taking 01 any part 0' the Properl)/, or tor
<br />conwyenc<I'n I,.., of COndemnllllOf1, ... heteby auigned and .hall be paid 10 Lender
<br />In the evenl of . total takhlQj 01 the Property, the proceeds shllll be appIMtd 10 the sums secured by Ihls SecUllly Instrument, whether or nollhen due. WIth any excess paid 10 8orroW8f In
<br />Me event oi a pattl&l taking of the Propetty, un... Borrower and Lender ottlerwlH agree In wrtling, tn. sums secured by Ihls SecuMly Instrument shall be reduC&d by the amount at 1he
<br />ProceedB multiplied by the ton~ino fraction: (at the total amounl 01 the Gums secured Immediately before the taking, divldod by (bl the 1M market value 01 Ihe Property Immealale1v betore
<br />'he laI<InQ. Any bBillnCe thall be pllX1 to Borrower
<br />If the Pronenv fl ~ by 8orrower, Of ll. after nolJee by Lander 10 BOflUW9r that tho condemnor Otll!lUI 10 make an award or sellls /I claim lOt t1omag95 Borrower lOlls to respond 10
<br />lortdaF wittun 30 day1I aftef the dare me nouce IS gwen. Lunder 15 G:ulhonled to colluct and aPPlY tPle prOCOf)ds at liS ootlon ellher to "".lol'.1l1on 01 "',plW 0' Ihf'l ProPft"'" or 10 Ihe slim,
<br />MC\I'" t1v thIS Sec:uf~" Inttrument ""~ or not ftlen dUG
<br />unteu lAnd4tt and BorfO'Wllt OU\:erwlae agIM ~ wntmg. any apoiJCatlon 01 proceeds 10 pnr\Ctpal "rulIIIlOI f,.l~nC1 01 po~lponn rhe l1u~ 001.. 01 '''''' ,non,,.,I... paym~nl!\ /l'I'""'ltd to In DiI"'QfAt}h!',
<br />I IIItd 2 or (t\.It'lQe ~ amJUtll at SUCh ~tl
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