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<br />DEED OF TRUST
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<br />88-104483
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<br />THIS DEED OF TRUST ("Security InslfUm~t"1 is made on this 1 Oth day of AUgust
<br />19~.ThetnJsto"s Oonald Schmidt and Rita Schmidt husband and wife
<br />
<br />(MBorrower"). Tha trust" ill Commercial Federal SavingS and Loan Assodatlon,
<br />("Trustee"). The baneliCiary is Commercial Federal Savings and Loan Auociatlon. which is organiZed and existing under the laws or Nebraska. and whOse addre$$ is 4460 Farnam. Omaha,
<br />Nebreska68'3'{.L.ond....I.BorrowerowesLBnderlhephnclpelsumof Six thousand six hundred fifty one and NoIlOO----------OoIlers
<br />(u.a $ 6,651 .00 ). This dBblls evidenced by Borrower's note dated the same date as this Security Instrument rNOle), which provides for monthly payments. with the
<br />fun debt. it not peld eertier. duo and peyebIoon AUl:lust 15, 1991 ,
<br />This SeaJrity Instrument secures to Lender: IB) the repayment of the debt BVidenced by the Note. with Inlerest, and all renewals. ex1enslons Md modifications; (bl the payment of all other
<br />sum.. with interetl, Bdvanced under paragraph 7 10 protect the 5eCUrity of this Security Instrument; and (Clthe performance 01 Borrower's covenants and agreements. For this purpose.
<br />Borrower irrevocably grants and conveys to Trustee, in lrust, with power 01 sale. the following described property IocatBd in Ha 11 County, Nebraska"
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<br />Lot Twenty- Three (23) in Block Two (2) in NorMandy Estates, An addition to the
<br />City of Grand Island, Hall County,NE.
<br />
<br />which hulhe 8dl:IrWS9 01
<br />
<br />l50B I'findsor
<br />
<br />Nobroska
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<br />68801
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<br />ISlIeOlI
<br />f~Propetty AddreS5~I;
<br />
<br />Grand Island
<br />
<br />IClty)
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<br />TOGETHER with a1t the improvementl now 0( hematter eJ8ded on the property, and all easement5, nghl5, appurtenances, rents, royalties. minerai, ad and gas rights and profits, water
<br />rights and stock and all fixtures now or hereafler a part of lhe property, All replacements and additions Shall also be covered by this 5eoJnty Instrument. AD at the fomgolng IS l'1IferreCJ to In
<br />thla Soc:urily InstnJment os tho .Properly..
<br />BORROWER COVENANTS thai BorJov.ter IS IIWfuIly seised ollhe estate hereby conveyed and has tho nght 10 granl and convey the Property and that the Property IS unencumt>erea
<br />exee;:t tor encumbranc.. of record. Borro'MIf warrantaand will defend generally the IllIe 10 lhe Property against aU d8ll'rnl and demands, SUbJect to lIf1y encumbrat1en 01 f8COf'Ij
<br />THIS SECURITY INSTRUMENT combines umlorm covenants for national use and non-umform covenants With timrted variatx:In3 by ,un5dJction 10 constrtute a uniform secunty IfIstrumant
<br />COYOIIng lWOl..-ny.
<br />UNlFORM COVENANTS. Borrower and Lender covenant and agree as fOllows~
<br />1. ~ 01 ~ and InterMt; ~ and UtI C~ Borrower shall prompUy pay when due the pnI'lClpal 01 and II1tel'1lSl on the deDI evadencad by the Noll and any
<br />prwpayn1Int Met 1_ charges due under Ihe Not,.
<br />Z. Funda for 1DIl8 and Inaurance. Subject 10 applicatKe law OliO a wnnen W8IVtIr by lender, Borrower Shall pay to Lender on the day monlhly payrnent3 are due unaer me Nota, until
<br />the Note La paid In full, . sum ("Fundi' equal to one-lWeIfth of: (a' ~ wes and assesarnenla which may attain poorrty over this Recunty InstrumInt; (bl yearty ~ payments or
<br />ground mltI on thI Property, I' any; lei Ylartv hazard Insuranoe JQmiumI; and Idlyearty mongage UlSUranc:8 pmniums, I' any. These Ilems me CIDed -escrow ItemS. - under may latL-nate
<br />1M Fundi ckHil 0I11he buis of c:unent dam and rsuonIbIe eatImatft CJf future ncrow treml.
<br />The FundlIhaII be held In an tnItitUtlon lhII dIpoIb or.x:ountl of which .,. InaJr'Id or guaranteed by II federal or stili ~ (inducting Lo/lditr., t.enr3Ir cslSUCh an 1f1IIItutICnl, LcndIf
<br />.... ~ 1M F'lDiI to pa'ittw -=row Items. L..1dIr rMV' notc:Nrgli for tOding ard ~ me Funds. aMIyzlng IhlI accoun! Oil Yertfying 1M MCn:M' itemI. unleA UndIr ~ &orrow.to
<br />_on tho Fundo and ~,.., ponnita Londorto makolUCh. ""-' ~ and Londor "'"I' _In wnfJng __..... .. _on.. Funda. UnIoa on _ os
<br />made 01' ~ In requtrn 1nI_ la be paid, L.endtr \VlalI not be ~nd to pay Borrower any Interwlt or lIarnangS on the FundS. Lender shall g;v, to Sorro\wr. without chatgII. an
<br />III'Il'1UaJ ICCOUOting of the Fundllhowlng ClWfIll and dIbitI to thI Funds and the purpose lor which each debn to the FundS was madI, The Funds are pledged as additional Ma.lrdy ro. lhe
<br />sumo _ bylf1lll SIcuriIy 1_
<br />If the amount of 'the Funds hek1 by LAnder, together with the fulure monthly payments 01 Funds pll)'lbie prior 10 the due datil 0' the 8SCI'tJW ItemS. 5haU exceed the amount fIQUlrIO to P'ly
<br />!he tIICtDW ItemI when due, 1M exc0s:3 IhalI be, at BoI'fD'IIIW's option, either prornP'IIV repa}d 10 Borrower Of c:ntdrted to Borrower on monthly payments of Funds If Int amount 01 thII FUf1C3
<br />hek:J by Lender ill naI suffidllnt to P8Y the 8ICI'DW Iteml when due, BorrowllIr shall pay 10 Lender any amount nKeSSaI'y 10 maQ up the delioency 111 one or men payments U '*I'!J1f8(J by
<br />LelDr.
<br />Upon poyn.w In full of .n oum. _ by "", SIcuriIy Irmrumom. lOndOr"'" plOmptly refund to lk>:JOWOr OIly Funds hoI<I by lBnder, " undO< _ach 1911>0 "'-rly os""", or
<br />~ by LInder. "lneteI' Ghllll ~, no 1,1<< than ImfT14td~'i pnor to the Ale or the Prvparty or It$ G<Xf\Ii;ltJOn by Lcnc;Itf, any fundS ~ Dr L.ItOOIf at 0111 lime o18DDilClOOn u' C1IK1d
<br />~ the am'II HClJfWd by UlI1 Security InltfUment.
<br />3. App8cmIon of Pwymenta. UnlnllIPPficabIe a.w provide, D!herWlse, all payments received by L.ender under paragraphS I ancI 2 5haJI bII applJed: tm. 10 Ia18 cnarges due unae. rhe
<br />Note; second. ID ~ ctwvn due under the Note, thlf'Cl, 10 amounts ~bIe under paragraph 2; rOUrth, to interest due: and lut. to pnncipal due
<br />.. CIIargM: lJenL Borrower shaJI pay a111D.., UNUmentB, c:t'Iargn, flf'lH and Imposrtlons altrtbuta.bIe to !he Property which may attain ptionty aver rhis Secunty lnmument. ana
<br />INHhoId ~ 01 ground rwtm, il any. Botroww Shall pay theN obItgabons In the manner provided in paragraph 2. Of d noI paid in thai manner, Borrower ShaD pay !hem on tune dnaty
<br />10 thI perBOn CJWIld paymen1. 8on'ower IhaII promptry furnISh to lanCSIIr au notices ot amounts tQ be paid under thIS paJagraph. II Boncwer makes lhese payments directly, Borrower ShaII
<br />pnxnpIIy fumIoh 10 Lon.... rocoipta 0V0lI0nClng ... _"
<br />&onow. .... pramptty ~ any '*" whlch hu pnonty 0VWf thr, Secunty Instrumenl unless Borrower: (at 8Gf8e5 m wnling to the payment Qr thO CblIgabon 5eCUI'ed by the ben Ifl a
<br />...... ~ 10 Lender; (bl conIHta In goocI IUh the Ilen by. or dillttndio 1Ig1llflS1 enlorcemenl or the Uen In, legal ptOCHding3 wtllch U1 the LenoenI 0IpU1QI openne to prevent me
<br />enfatcItnenl of thllIen or 'ori....,. 04 any part of iN PfOC*ty; or Ie) securH horn the hoId.r 0' the lien an agreement satisfactory to Lender SUOOfaIfWlng Ole lien to trus Secunty Instrumem
<br />"lIndIr dHtnninn Ihal any part of !he Property ISlUbreCt 10 . ben whICh may aUail1 pnonry over this Secunty InstnJment. Lender may grve Borrower a nobce IdentJfymg the hen. Borrower
<br />... satilly the lien Of!akll one Of men of the IG'bonIHllorth Kx:Jve Mlhln 10 days or lheI gMng 01 notlC8.
<br />So ..............,., Borrower IhIII keep the unproyementl now existing or Mreafler 8r8l:tfJd on the Property lflsured ag~ toss by rlf8, haZards Included wrthln 11"') term -e.xtendea
<br />~. II'Id IftY othtf' hazards for whlch l.endtf require. Insurance This insurance shall be mlmtained in the amounts and for lhe penods that Lender nJQU1f8S. The Insurance came'
<br />providing the insurance IhaII bII c:hcNn by Borrower BUbJlId to lender"s approval which shall not be unreasonably withheld
<br />AllnaurancII P*::IM ar.d ........ IhaM bII ~ to Lender and ahaIIlnclude a standard mortgage dause. Lender shall ~ !he fight to hOld the poliaes and renewals. "Lender
<br />I'8QUlrn. EJorrcM.rIhall promptly gn.. to l8nder a1I.-.ee1plS 01 paid prwniutt\5 and renewal notices. In the event 01 loss, Borrower shall grve prornpI notice to the Insurance carner anr;! Lender
<br />Lorar _lllIko proof 01 Iou H not II*>> pIlll11lltIy by 1lomlwo1.
<br />UnIea L.endIr and Borrower other'wIM -slrH m wntng, msurance proceeds shall be applied to restorabOn or repaIf of the Pl'QPGny CS8magod, It the restorBlDn or mp&Ir IS emnormcally
<br />feaibIe 1ft:l1.ender'1 MCUrrty . ro .......... It the ...mration or repair is rot emnomicaIfy feasible or Lender's S8CUnty WOUld be ~, the lI1SUrance proceeds shall be appIiecI to Ule
<br />sums sec:untd by this Securlty fnttr\lfnent. whether 01 nollhen due, with any excess paid to Borrower. It Borrower abandons the Property, Of does not answer within 30 day5 a nollt;e from
<br />LMIder IhIII U. inIurIncI cam.r hu DffIred to Httle a dam, the Lender mey coned Ihe insurance proceecls. Lender may use the proceeds 10 repalf Of restore the Property or 10 pay sums
<br />- by II1iI SocurlIy 1_ ___ or not tI10n duo. ThtI3O-dIy pertod wRlllogin when tho nolJco is gNon.
<br />UnIea l.ttnder and Borrow.r OChefwIM ag....ln writing, any appIleation of proceeds to principal Shall nut extend or postpone the doe dale of the monthly payments referred to In paragraphs
<br />1 ana 2 or change the amount of the~. If under paragraph 19 the P~rty is acquired by Lender, Bcrrnwsr's right to any insurance poliaes and proceeds resulbng from damage [0
<br />the Property prior 10 the a:quilttJon IhIII pall to Lender to the extenl or the sums secured by this Security fnsII'Ument immediately prior to the acquiSllion
<br />So ~............... or Propettr; t...Mhoida. Borrower shall not destroy, damage or substantially change the Pf'DP'rtY, allow the Property to derl!lnorate or commir waste
<br />"thiI Secwity Instrument is on 1HMhok:I, BorTtnwr shall comply with the provisit)ns 01 the lease, and if Borrower BeQuires fee title to the Property, "" leasehold'and fee tlUe Shall not merge
<br />_1.8ndor _lOtho _in wrtting. '.
<br />T. PratIIc1Ion of LAncIW. Rtgftta In tM Property; Mortg8ge InlUranee. If Borrower falls 10 perlarm the covenants and agreements conl8lned in thlS Secunly Instrument. or there is a
<br />legal proceeding thal msy slgnltlcanlty aHeet Lender's nghts In the Property (such 115 a proceeding in bankruptcy, probate, 10' condemnation or to enforce laws or regulatlOnsl. Ihen Lender
<br />l'I'IIIy' do and ~ ror wl1aItMw is neceuary to prolect Ihe value 01 the Property and lender's Oghts In the Property. Lender's aclion9 may inelude paying any sums secured by a lien which has
<br />priority CMtI'this Security Instrument, appeanng In court. paying reasonable anomeys' tees and entering on the Property to make repairs. A1lhough t.ender may lake actIOn under thiS paragraph
<br />7, Lender does not h.... to do IIQ.
<br />Any amounts dlsburud by lenc:ktr under this paragraph 7 shall become additional debt of Borrower secured by this 5ecunty Instrument Unless Borrower end Lender agree 10 other terms
<br />of peyment.1hese amounts shaN bear interest from the date or disbursement at the Note rale and shall be payable, with inlerest. upon noUce h'om Lender to Borrower requeslmo payment
<br />tr Lender rwqulr8d mortgage Insurenct 81 . condition 01 making the kJan lS8CUJ'Bd by this Security Instrument, Borrower shall pay the premiums reqUIred 10 l1l8.Jnl8in the insurance In effect
<br />W1tiI such time u the requlntrnent for the Insurance terminates in accordance with Borrower's and Lander's writlen agreement or applicable law.
<br />L InepecHon. L.ender or 11II ao-nt may make reasonable entries upon and inspections of lhe Property. Lender shall give Borrower nolice 811M time 01 or pnor to an InspeCtIon speofYll1g
<br />.....-:'*"" lor tho lnopoc:tion,
<br />.. ~. The pr'OCMda 01 any award or claim for damages, dlrecl or consequential, in connection With any condemnation or olher taking of any psrl 0' Ihe Property. or for
<br />aJf1'fo'8Y8f'IC in lieu of c:on<t-Jmnalion, ant hereby assigned and shall be paid to Lender.
<br />In the event of a IDlallaking of the Property, the proceeds shall be apptled lo the sums secured by Ihis Secunly Instrument. whelher 0' nolthen dl.re, Wllh any excess paId 10 Bonowe, In
<br />!he event or a partIal1aklng of the Property, unless Borrower and Lencler otherwise agree in writing, Ihe sums secured by Ihis Secunty InSlrumenl shall be reduced by Ihe amount 01 the
<br />proceeds mulllpllecl by Ihe lallowing fraclion: (a) the lotal amount 01 Ins sums secured immediately belore Ihe leking. diVIded by Ibllhe lall market value 01 the Properly ImmeOlalely belore
<br />the taldng. -Any balance shall be paid to Borrower,
<br />If the Property is abandoned by Borrower, or if, after nolice bV Lendsr to Borrower thallhe COMemnor offers 10 make an award Of settle a claim lor damages Borrower lOlls 10 respond 10
<br />l...Ar1def" within 30 days after lhe dale the notice is givr9n. Lender IS authorized 10 collect and apply the ploceeds. at liS opllon either \0 restorallon Of tepall 01 the Propert.,. 01 10 Ihe sums
<br />secured by this Security Inslrument, whether or not then due.
<br />UnMtss Lender and Borrower OlhelWIs.! agree in wrlling, any applicatIOn of proceeds 10 prinCipal shall nol extend or postpone the due dale ol!he l':1onlh1v paymonls roltmod to.n ~lIlDgl!)ptl&
<br />t and 2 or change the amount 01 such payments.
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<br />LN.\1'l.1.NE ,1;!1I7\
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