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I: State of N~...ial 88- 102809 Deed of Trust 0933277-1 PH" CMe He. 321-1247928-703 1'IWI Deed of Trust. ("Security ~JIItnlIIIeirt") Isma on Hay 31 s t III 88. The trostar 10 Leo N.Rliyburn and Rana G. Rayburn. . . .' ("BorroweT"). The lrUItee II Co.~reial Fea~ral Savings and Loan Association Co..ercial Federal Mortgage Corporation uader the laws of . Nebrasu' . aDd wh_ address Is 2120 South 72nd Street Oaaha Nebraska husband and wife ("TnutCo"). The bmoflcla:y Is , wblch Is olllanlzed and ..mUng 68124 ("Lender"). Wilnaleth: Thlt the BoJ:1'OWn In consideration of the debt Ind triist bet'1!lnafter described ai1d crelted. and tbe sum of One DoUar ($1), to b!r.J In band paid by the Trustee, the receipt of which Is h<reby acknowledged, does by th.... pr....nts grant, blrgaln and 51'11. convey and con- fmn, unto the Trustee. forever, all of the following described real estate. situated lying and helng in the County of Hall ' and State of Nebraska, to wit: Lot Three (3). Calvary Subdivision, in the City of Grand Island, Hall County, tfilbraska. wblch has the Address of 1403 N. Howard Place Nebraska 68801 Grand Island jdl'l rPropert)' Addr"",'): .l.tpCaWI To Have and To Hold the prentiJes above dacribed, with all tb. appurtenances thereunto belonging and including all beating, plumbing and lighting fi.tureli and equlpm<:nt now or hereafter attached to OJ' used in connection with wd real ..tate unto the Trustee, and to its sucoesson: and MSSigm, forever. we Bc.u:rower repl~Uu. to" .11J \,.'OHmilUlu ",nb. the Trustt:.-e. that the Borro....cr bai ~ood rid1t tc ::;cll.;.nd w,t:';,',::y ::;.:.i:! pnmlJes; that tbe)' are free from encumbrance; and that the Barrow", will ",,'arnot and deiend the same against the lawful cWms <If all per- 00I!li wbomsoe\-er; and the >aid 8om>wer bereby rellnquW1I5 all ri~hts of homestead, and all marital rights. either in law a, in equity, and aU other ClIlItingent Inten&b of the Borrower in and to the above-decribed premae.. the intention heing to convey hereby an aboolute title. in fee simple, Including all rights of homo:stead. and other rightJ and Interests as afar..aid, Provided Always. and these presents are .."""ted and delivered unto tlle Trustee. in trust. how",'''' for the fallowing purposes: Whereu. the Borrower on the 31st . day of May ,19 815. borrowed from the Lend", the IU1tt 01 FIFTY TWO THOUSAND SEVEN HUNDRED and 00/100 . Dollars (' 52.700.00 ). lor which ""'" the Borrow.. haI.eucuted and dell........ l1i the Lend", 8om>we.. promissor)' note of .....n day. bearing Interest at the rale of TI1.N .nd )(0/1000 per oentwn ( 10.000 9'.) per annum on the unpaid balance untU paid, Thuald princIpial iildlntaat sha1J he pllYabIe.t the office of Co_ercial Federal Mortgage Corporation In Oallba . Be b r aaka ' or at such other place '" the holder of the note msy clsipte hi wrIt1rlc. in J1lOOthly Inota1lmesttJ of FOUR H\J!IlDRED SIXTY TWO and 48/100 DoUars I' 462.48 ), commencing on the first day of July 19 88. and oa the fino day ol eac::!. month thereafter untillhe principal and Inl1:rC:5l a'" flllly paid, """Pt thot the final parm.ot of prln- ctpal and Inlet15t, If no! _ pald, o.ha1J he due and payable on the first day of J :I'D is, une This !ami ~ ....., in connec:ion witll mon;.qn Insured tmder 1M on.. to lour-family programs of the National Housing Act which provide tor ~ YorI~ inaurance Premium plrmltlltS, ;:l'IlIIC8 . ot.:. f:Qf'r.'l HUD 92'.0 or P0-81 EC!:t!O"l Z..tCFR ~OJ l :"'{:1l 'l'l'lC-229 (qc) NE'I_ 4/88