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<br />DEED OF TRUST
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<br />88- 102568
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<br />12 daYdf May
<br />THIS PEED OF TRUST ("Secunly Inslrumen,") IS made on Ihls
<br />19~. Thelrusloros Lawrence A. Murphy and Donna r.1urphy, Husban and Wlte
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<br />("Borrower"). The lruslee '. Commercial Federal Savings and Loan Association.
<br />("Trusleo"). The benenclary Is Commercial Federal Savings and Loan AssocIl\1iq,n, \'Ihlch.IJerganized SQd Il/<Istlng unqijr Ihelaws ql Nebr~ and 'I\bO.. "ddren Is 4460 Famam. Omaha,
<br />tlgnt I"Ousana ~even Hunarea ana une UOllars
<br />N'b"::Ska~'jblLeoo~~ !:"~~~ owes Lender Ihe princlpelsum 01 . Dollars
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<br />{U.S. S ,. }. This debt Is evidenced by ~~r'. nole daled lhe same dala as !hIs Security Instrument ("Nola). which provides for monthly payments, wilh the
<br />May 20, 19~j .
<br />lull debl, II nol p.id earlier, due and payable on .
<br />This Security Instrument secures 10 Lender: (a) lhe repaymenl Of Ihe debt evider.ced by Ihe Nole, wilh Inlerest, and all renewals. extensions and mc>dilicallons: (b) Ihe payment 01 all other
<br />sums, w,th Interest. advanced under paragraph 7 10 protecttl.. security 01 Ihls Security Inslrument: and (c) the performance of Borrower's COllllnanls and agreements. For this purpose.
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<br />Borrower Irrevocably granls and conveys to Trustee, in lrust. wilh power of sale. Ihe folloWing de;"'ribec:J property l<r..aled In Ha 11 County. Nebraska'
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<br />Lots Sixty Nine (69) and Seventy (70) in' the West Lawn, an addition to the
<br />city of Grand Island, Hall County, NE
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<br />WhICh has the addroM of
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<br />1706 N. Park
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<br />Netr...ka
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<br />!iRR03
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<br />(SUlle,)
<br />("Property Add",ss");
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<br />Grand Is 1 and
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<br />ICily)
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<br />TOGETHER With BlI the Improvements now or hereafter erected on the property, and all easements. nghts. appurtenances. rents. royalties. mineral. oil and gas rights and profits. water
<br />ngnlS and stock and all fixtures now or hematter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All at the foregoing is referred to in
<br />Ihls Security Instrurmlnl as Ihe "PropElrly. "
<br />BORROWER COVENANTS thaI Bonower IS lawlully se'sed 01 lhe estale hereOy conveysd and has Ihe nghtlO granl and convey L~e PropElrty and Ihat the Property IS unencumbered.
<br />except tor enCUmbrai1C8!1 of record. Borrower warrants and will defend generally the tille to Iho Property against all Claims and demands. subjeet to any encumbrances of recant
<br />THIS SECURITY !NSTRUMENT combines uniform covenants for nahonal use and non,unlform covenants with limited variations by jurisdiction to constitute a uniform sea.urty instrument
<br />coveri.'lQ real properly.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as lollows
<br />1. ~ of Prlnef. _1_: Pt~I_ LAl1e CiHlroel. Borrower shall promplly pay when due Ihe pnnCipal Of and ,nlerest on the debt evidenced by the NOIe and any
<br />prupaymen1 end lale cI1arge. due under the Note,
<br />2. Funcllllot lb.. - Inaunnce. Subjec1to applicable law or to a wnnen W8"",r by Lender. Borrower shall pay 10 Lender on the day monthly payments are Clue under the Note. unt,
<br />Ihe NOle is paid in fun. a lIUm ,"Fund., equal to one-_ of: (01 yearly laxes and asse.sm,mlS whIch mey aIWn pnonly over Ihis Secunty lns1rument; (b) yearly leasehOld payments or
<br />ground rents on the Property. it any; (c) ye.arty hazard Insurance plWmlume. and ldt yearly mortgage Insurance premiums. If any. These items Bre called "escrow items. ~ Lender may estimate
<br />the Fundi due on the bUill 01 current dale and __ esllmal... 01 lulure eiICrow ,Iems
<br />The Fund. shill be held In an Inslilution the depoailll or accounls 01 whICh In Inourwd or gulrantwd by I laderal or Slate agency (including Lender il Lender is such an ms1ilution). Lend",
<br />shall apply the Funds to pey the eocrow items. l.endet mey not charge for hOlding and applying Ihe Funds, anl/y.ling !he accounl or verilying lhe escrow ilems. unless lender pays Borrower
<br />Interest on the Funds and aI)plicabIe IIIW permitl Lender to milk. such a charge. BorroWllf and Lender m.y agree in wrtting that tnterest Shall be paid on the Funds. Unless an agntement IS
<br />.- or 8PIllicable ,... I'IQUireIlnterest to b8 ~, Lender shall not be requirwd 10 pey Bor~r any ,nlere.1 or e.mj~ on tha Fund.. Lender Shall give 10 Borrower. WIthout cl1arge. an
<br />annuallCCOUlltlng 01 the Funds showing credIls and debitO to the FUnd. and the purpo.. lor which elCh dab/I 10 the Funds was made. The Funds are pledged as addnlonal securily lor \he
<br />sums MCUred by Ihia Sacunty Instrument.
<br />11 the amount of the Funda held by Lender. lOQ8'h'lf WIth !he lulure monthly paymonll 01 Funds payable prlOr.O Ihe due dale. 01 Ihe OSCTQW Rems. snail elceea me amount requlrecllO pay
<br />lhe escrow Ilema when due. the ""cess shall be, al Borrower's opllon. e.lher promptly repaid 10 Borrower or credited '0 Bonower on monthly payments 01 FundS. lithe &moun! ollhe Funds
<br />held by Lender it not sufficient to paylhe escrow Items when due. Borrower !Shall pay 10 Lender any amount necessary 10 make up the dehciency in one or more payments as reQuired by
<br />Lender.
<br />Upon payment in full 01 aA sums secured by thIS Seeurity Instrument, Lender shall promptl,;, refund to Borrower any Funds held by Lender, Lt under paragraph 19 the Property IS said 01
<br />acquired by Lender, Lender Shall apply. no later than immediately pnor to (he sale of the Property or Its acqullslbon by lender. any Funds held by Lender allhe time of apphcatJOn as a Cl1!Ort
<br />against the !!Ums MCUred by Ihi. Securily Instrument.
<br />3. ApplIcatIon of Payrnen1a. Unless applicable law provides olherw.... all peyments receIved by lender under peragraphs 1 and 2 shall b8 applied l'ISt. to late charges due under lhe
<br />Nole; second, to prepayment cha.rges Clue under the Nole. third. 10 amounts payable under psragraph 2, fourth, 10 Interest due. and last. to pnnCJpaJ due.
<br />.. ChIwgee: u.n.. Borrower shaJl pay aU faxes. assessments. charges. fines and Impositions altnbulable 10 the Property wnich may attain priority over this Secunty Instrument aoo
<br />leasahokt payments or ground rents, I' any. Borrower shall pay these Obligations In Ihe manner provided In paragraph 2. or If nol paId tn that manner. Borrower shall pay them on time dlf9ctly
<br />10 the person owed payment. Borrower shall promptlv furnish ta lender aU noticeS af amounls 10 be paid under Ihls paragraph It Borrower makes these payments Cll''8Ctly. Borrower snail
<br />promplty fum..~ 10 Leroder receoptO evidellClng !he payman15.
<br />Borrower shall promptly discharge any lien whK:h has pnonty over thiS Secun", Inslrumant unless BolTOWQr. (a\ agrees In wnting to the payment ot ltle Obligation secured by the hen In a
<br />manner acoept'ab'e to Lender; (b) contests In good tilth the lien by. or defends against enforcement of tne lien In, legal proceedings which In the Lender's opinion operate 10 prevenl Ihe
<br />enforcement of lhlllien or forfeiture of any part 0' the Property: or (e, 5eCUf'I35 from the holder 01 rhe lien an agreemenl satisfactory to Lender subordinating the hen to thiS Secunty InStrument
<br />" Lander determines that any par! of the Property IS subject 10 a lien which may attain pnonly over thiS Secunty In:;1rumon1. lenaer may grve Bonower a nolice tl.1entlfyulg the hen Borrowe,
<br />shail sal.isfy lha lien or take one or more oj the actions set forth above WithIn 10 days althe giving of notice
<br />~. Hazard lnaurance. BoITOW"ltt shall keep the improvements now ex.lsting or hereafter erected on the Properly Insured against 1055 by lire. hazards Included wrthln the term -extenaea
<br />coverage- and any other hllZardS for which Lender requires tnsurance This insurance shall be maintaIned In the amounts and 'or the paneds Ihal Lender reqUires. The Insurance carner
<br />providing lhe Insuranco snail be chosen by Borrower sub;ec:t to Lender's approval whICh shall not be unreasonably Withheld
<br />All Insurance poUdes and renewals shall be accaptab6e to Lender and shall include a standard mortgage clause Lender shall have the nght to hOld the poliCies and renewals If Lender
<br />requires. Borrower shall promptly give 10 Lender all receipts of paid premiums and renewal nohces In the event 011055. Borrower shall give prompt notice to lhe insurance carner and Le'lder
<br />Lender mey make proal 01 loss it nol .- prompIIy by Borrowvr
<br />Uniess lender and Borrower otnei"'Nile agree In writing, insurance proc&eds shall be appIted to 18stornhOn or repair 01 tl"lo Propeny damaged. II the restoration or repan IS economlcallv
<br />fea.sible and lAlnder's HaJrIty is nm &essen.d. If the reslorat;on or repaIr IS nol economICally feaSible or Lender's s9Cunty would be lessened. the Insurance Proceeds shall De applied 10 the
<br />sums secured by this Securily Instrument, whether or nol thlln due, w'th any excess paid 10 Borrower If Borrower abandons !he Properly, or does not answer wilhin 30 days a notice 1rom
<br />lender thlt the insurance carrier hu off8f1ld to _ a daim. the Lender mey collect lhe Insurance proceeds. Lender may use the proceeds 10 repair or restore the Property or 10 pay sums
<br />secured by Ihio Securily Instrument. whether or not then due. The 3O-day period will begin when lhe nollce i. g,ven,
<br />Ur.lesa lender and BorTOWllf otherwise IIgtH in wnUng, any applicatIOn of proceeds to principal shall not e",:end or postpone Iho due date of the monthly payments referred to In paragraphs
<br />1 and 2 or change the amount of the payments. If under paragraph 19 lhe Property IS acquired by Lender. Borrower's nghl to any Insurance poliCies and proceeds resulting lrom damage to
<br />the Property pnor to lhe acquisition shaU pass to Lender to lhe extent at the sums secured by this Securtty Instrument immediately Prior 10 the acquf!Jition
<br />I. Pl~~..... MalnMnonee of Property; LNMhoIda. Borrower Shall not destroy, damage or 5ub:i.tanhaJly change the Propeny, BilOW the-Property to detenorate or commil wasle-
<br />It (his Socurity Instrument is on leasehold. Borrower shall comply With the provlSfOns of the lease. and if Borrower acquires fee title to the Property. lhe leasehold and lee title shall not merge
<br />unless Lender agrees to the merger on wrlling.
<br />7. ProtKtJon of Lender'. Alghta in the PrOperty: Mortgage In.ul'llnce. If Borrower rails 10 perform the covenants and agreements contamed In thiS Secunty InSlrument. 0' there IS a
<br />legal proc.eedil1O that may stgnrflcantly atreet Lender's nghts In the Property IBuch as a proceeding In bankruplCy. probale, lor condemnation or to enforce laws or regula lions) then Lendel
<br />may do ana pay ror whatover 19 necessary 10 protect the va!ue of the Property and lander's nghts In the Property Lender's actions may Include paYing any sums secUr&<] Oy a hen whIch has
<br />prlOnlV O'I8f'thJs Secunty Instrument. appeanng in court. paVh'9 r8450nab&e attorneys' fees and enlenng on the Property to make repaIrs Although Lender may take Bcllon under thIS paragraOh
<br />7 Landel cJoes not h..... to do SQ.
<br />Any amounts dlsburaed by Lender under Ihis paragrapt1 7 shall bscome additlOrtsl debt 0' Borrower secured by thIS Socunty Instrument. Unless Borrower and Lenoe' agree 10 alher terms
<br />of ~nt. these ftmOUnts ahaU bear Inlerest from the date of disbursement allh. Nato rate and shall be payable. with Interest. upon notlCo from Lender 10 Borrowa:r reQuestmg paymonl
<br />If l.ttndlIr requtred mortgage lnsuranco 8S 0 conditIOn or making the loan &8CUr&d by Ihls Secuntv Instrumenl. Borrower shall pay the premiums reQulled 10 malOtSln Ihe tnsuranc-e In ('Neel
<br />unU:: SUCf1 !!me U 1M requirement fot the msurance lerminates in accordance with Borrower's and Lender's wrinen agreoment or applicable law
<br />a. In&pecdon. Lender or Its agent mQ,y rneke reasonabkt entries upon and Inspections of the Property Lonasr shaH give Borrower nollce at the lime 01 or pnor 10 an InspectlC:'n specifying
<br />reasanabkt ca.rM lor lhe tnl()eCtiOn
<br />.. Car.~. The proceedt 01 llnv award or claun tor darnaves. direct or conseQuential. In connection wllh any condornnahon or otho, taking 01 an~ part of thE! Propert>; Ot for
<br />c.onveyIIIlCe rn keu of condlfm'lnalion, ate henlDy assigned and shall be paid 10 Londe'
<br />In the ...,..,t of a tDlt\$ t4k1nQ of I."Ie Proporfy, th(l procftiK3 &hall bu apgilod 10 the gums. s.ecurod bV IhlS SQocurlly h"\9It-umf!onl whalhel Of 'lal ttlan Cuo wlln ony Et:llCCB!:o palo 10 BOIrO,^1!r I,...
<br />'''' even1 ot . pattI&! laklt'lQ olthl' Prooor'y. unleSD Botro......r and Ll,"dcn otheMI" agroe m Wflll"Q_ the sums !;f~CUf'P.d by Ihl5 5tlcunly lnslrumAnt fjhall 00 'nOuroll n.." tM(l am"unl 01 Ihl!
<br />prrJl'"AOdS multl(lfltld b\' !t\. tollowmg froc.'bOl1 \I) Ihe Inial amou-nt of tho sums r.E'CUrrHJ lmmedllllely MIura Iht!lllJlillnq !1l1oded 0)' Ibt Ihe tAli 1,,(,,10.01 ....i1luo ollhp PrC'porty IrTlrTledl81f'lv b@tt,1re
<br />too t>>rno Art', bahanc4 t1',.JI b4J pa>d 10 Barrowo,
<br />If "''''' PrOOOf1y rt abaodonotf tl)I [\()f1'~' 0' If flller nobc. by LOndD' 10 Uotrow.lr Ihllt Ihf!' r..l)0(19Mlrl{11 n"~'!o ID '''''ak~ ~'" ilwlJt~ 01 ~ntth:? ,\ clal"" '0' 11.llT'la(lll~ BOrt01/O;1H 1t1.11" 10 ','Sponl' If)
<br />l""...,... ....,0'"Ml JO a.V' .tn., I'HI rto1te 'hI)' I'1QtlCM I" QIYtln llH.c1et 18 IIulhO'I'ftf.1lo O'JIl(ICf :U~ .\p[}J'~ It". [)<"i"lCf'>f:'O"J, ,11 "n ll(lIIOT\ ...,(hAf In ,n!\l{)nU\t.fl \1' '''ll~'' ,)1 111f1 Pln~/t'v ',~' h' Ihe Sljnl!\
<br />"er~ufltfj e,., ~. 5CJCU1'ly 'n'U\.JrTlfr'11 <<roothfal Of "01 !J'On 1u.t'!
<br />ll"4"-1lofl'nl:l.' IlnQ f)r.JIf7{hIr('Ir 1/11'\q.....,$oO AQ.r.. ,,,, ofIrrll<OQ .1I1lr lJ;whc:abl)t"l!)1 Drc....:~..d~ 10 IH,rvmal o:.";JI: .',,0' "'I"".' :t. p..,'sttM)nn '''C' .hl" (li,l". ['1'''., .....,,,",'~ 1'"1\,,,,"'1.. '"I.".\~,\ 'I' ", ['ill,'hJIIl(ll"1!\
<br />1 AM ;' ~ r:""'''''''''' I'h4t &"""~"..n1 :'Jf 111J(.tl [)eymoot!
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