|
<br />DEED OF TRUST'
<br />
<br />88-105272
<br />
<br />..j
<br />\ -.
<br />
<br />22 d I Sept.
<br />THl3lllrDDFmUST('Socun'a~"'t'e'Y'"\.f'."'t'~l\"rI~hz ana Nancy K. Llnnertz,''\fusoand and wife
<br />19_. Thl UUl1Of1S
<br />
<br />" ',. ~
<br />
<br />,"
<br />o
<br />
<br />rBonowerj, The trust" II Commtrclal Ftdlrat Bftlngl ~ L.o.n ~ ,~ ~
<br />("Tru1tH1, The'beneficlary Is Commerclal Federal Savings and Loan AasocIaIIon. whICh Is organized and ltxlSUng under lhelawa of NMnIkI. IIrld whoM add.... I. 4480 Farnam, 0mahI.1 ~,
<br />
<br />.........4684"ili'iri'._..... Lend.lIh.""ndpal sum 01 Four Thousand Four Hundred Fifteen Dollars and 10/100-- eouora .'1'
<br />
<br />(US. $ , .. ------- ). This deb~p m~,bV ~ note daled the same dale u Ihls Security Instrument (MNot.). which provIae. lor monthly payments. with tne
<br />
<br />full deb!. 1I not paid earlltt. due and payable 00
<br />Thia Secunty Instrument secul'8llO Lender. (alttle repayment of ,the debt evidenced by the Nole, with internt, and all renewals, extenaJon. and modlncatlona; (b) the payment Dr all other
<br />suma, With intorut. adIMnced uncMr paragraph 7 to prolect lhe security 01 this Security lnawmenl: and (el the performance of Borrower's CQWnantl Bnd IgI'I.monta. For thIl pUrpoM.
<br />
<br />Borrower ImMlCBbty grants and comeys 10 Trull". In trust, wllh power 01 BBl., the following described property located In 1-1::1 1 , County. N.nska:
<br />
<br />i:>'!
<br />!{:;~j~,::.~
<br />
<br />.~.;
<br />
<br />'..,.::',c"
<br />
<br />-; ,:/-", ~.
<br />
<br />,-.::;',.
<br />',..;'
<br />
<br />Lot Seventeen (17) in Block Four (4), in Ashton Place, an addition to the City
<br />of Grand Island, Hall County, NE
<br />
<br />which has the addruss 01
<br />
<br />2308 ". Charles
<br />
<br />Grand Island
<br />
<br />(Slreell (ClIyl
<br />N_ 68801 I.PropertyAdd...."
<br />TOGETHER with all the implO'lllmtlnts now or hemaf1er erected on Ihe property, and all easemenls, rights, appurtenances, rents, royalties, mineral, 011 and gas rlghls and proms, water
<br />rights and stock and a111b1:lUms now or herealler a part ollhe property. All replacements and addlllons shall also be covered by Ihls Security rnstrumen!. All ollhe foregoing Is referred to In
<br />thIs Seculity Instrument as the -Property."
<br />BORROWER COVENANTS Ihat Borrower IS lawfully seised ollhe estate hereby conveyed and has the righl 10 grant and convey Ihe Property and Ihat Ihe Property Is unencumbered,
<br />excepl for encumbrances of record. Borrower warrants and will defend generally the title to the Property agalnsl all claims and demands, sUbJecl to any encumbrances of record.
<br />THIS SECURITY INSTRUMENT combInes unllorm covenants for nallonal use and non-uniform covenants with limited variations by jurisdiction 10 consUluIe a unilorm security Instrumenl
<br />covering reaJ property.
<br />UNIFORM COVENANTS. BolTower and Lender covenant and agree as lollows:
<br />1_ PIIyment of Principal and I.....t; P....,ment and La-. Chargas. Borrower shall promptly pay when due the principal 01 and interest on th& debt evIdenced by the Note and any
<br />prepe:yment: and Iale ctwges due under the Note.
<br />2. Funds for 1Dea.nd tnauranca. Subject to applicable law or to a wrlnen waIVer by Leneter, Borrower shall pay 10 Lender on the day monthly payments are due under the Note, until
<br />:u:~:: :"~~~If(~~)~~ ~:;:::::~:>,,:::; =~d~as;en:~:: :::C:Yp~~~~~~~~no;e,;:=~~ ~:~snzn:n~%~~~~~y~:::S.I~~~~~I~~:~:a~;
<br />the Funds due on the basil of aJn'8nt data and reasonable estimates ol futul1l escrow IIams.
<br />The Fund! &ha1I be held in an InstltutIon the deposits or BCCOunls ofwh\ctl are Insured or guaranteed by a faderal or slate agency (Including Lender II Lender Is such an inslllutionl. Lender
<br />shall apply the Funds to pay the escrow Items. Lender may not charge for holding and applying the Fund5, analyzing th~ accounl or verifying the escrow Items, unress Lender pays Borrower
<br />inlerest on the Funds and appDeable law permits Lender to make such B charge. Borrower and Lender may agree in wnllng Ihalinleresl shall be paid on Ihe Funds, Unless an agreement Is
<br />made or appllcabMllaw l8qUiru Interest to be paid, Lender shall not be required to pay Borrawer any Intentsl or eamings on the Funds. Lender shall give to Borrower, without charge, an
<br />annual accounting of the Fundi showing credits and debif5lo lhe Funr:ll end the purpose for which each debit to the Funda was made. The Funds are pledg&d as additional seCIJrlty for the
<br />sums secuf8d by thIS Security Instrument.
<br />If the amount at the FundS heid by Lender, together with the future monthly psyments 01 Funds payable prior to the due dates 01 the escrow lIems, shall exceed the amount required to pay
<br />the 8llCfOW Items when due, the excess shall be, at Borrower's optlon, either promptly repaid to Borrower or credlled to Borrower on monthly payments of Funds. If the amounl 01 the Funds
<br />held by Lender Is not sufficient to pay Ihe escrow lIems when due, Borrower shatl pay 10 Lender any amount necessary 10 make up Ihe dallclency In Dna or mom payments as required by
<br />Lendor,
<br />Upon payment In lull of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. II undar paragraph 19 Ihe Property is sold or
<br />acquired by Lender, Lender shall apply, no later than Immediately prior to the sale 01 the Property or lis acquisition by lender, any Funds held by Lender at the time 01 appllcallon as a credll
<br />agaInst-lhe sums secured by this SecurUy Instrument.
<br />3. Application of PIyrMntI. Uniess applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shall be appUed~ first, to lata charges due under lhe
<br />Note; HCOncl, to prepayment charges due under the Note; Ihlrd, to amounts payable under paragraph 2: lourth, to interesl due; and last. to principal due.
<br />4. ChargM; U.... Borrower shalt pay all laxes, assessments, chatges. fines and imposllions altrlbutable to Ihe Property whIch may attain priority over this Security lnslrument. and
<br />leaseholcl payments or ground rents, 11 any. BolTOW!lr shall pay these obligations in the manner provided in paragraph 2. or il not paid In Ihal manner, Borrower shall pay them on time dlreclly
<br />Ie the person owed payment Bonower shaU promptly furnish 10 Lender all nollces of amounls to be paid under this paragraph. II Borrower makes these payments directly, Borrower Shall
<br />prompUv hJmlsh to Lender receipts evidencing the payments.
<br />Borrower snail promptly discharge any lien "!hich hili priority over this Security Instrument unless Borrower; (al agrees m wntlng to the payment 01 the obligation secured by the lien In a
<br />manner acceptable to L'Hlder: (b) COntesll in oond faith the lien by. or defends agalnsl enforcement 01 the lien in, legal proceedings which In the Lender's opinion operate 10 prevent the
<br />enlon:ement at the lien or forfeiture 01 any part 01 the Property; or (c) secures from the holder 01 the lien an agreement satislactory to Lender subordlnallng Ihe lien to this Secunty Instrument.
<br />II Lender delennines that any part of the Property is subjeclto n llen which may attain priority over this SeCIJrity Instrument, Lender may give Borrower a notice Idenllfying the lien. Borrower
<br />shall satisfy the II," or lake one Of me,. 01 the aellOns set forth above wIthin 10 days of the giving 01 notice.
<br />5. Huard I,...rance. eorrow.r shall keep the imprOWtm.nts I1QW existIng or hereaflsr erected on Ihe Property Insured agalnstlo5S by fire. hazards included within the lerm "extended
<br />coverage- and any other hazards lor which Lender requires insurance. This insurance shall be malntained in the amounts and lor the periods thai Lender requires. The insurance carrier
<br />provjdlng the Insurance shaD be choIen by Borrower subject to Lender's approval which shan nol be unreasonably withheld.
<br />AD Insunll'lClll policies and renewall shall be acceplBble 10 Lender and shall include a standard mortgage clause. Lender Shall have the nghllo hold Ihe poliCIes and renewals. If Lender
<br />requiras, Borrower &haIl promptly give to Lender all receipts 01 pakl premiums and renewal notices. In Ihe event 01 loss, Borrower shall give prompt notice to the Insurance carrier and Lender
<br />Lender may make proof at Iou If not made promptly by Borrower.
<br />UNesa Lender and Bonower otherwise agree in writing, Insurance proceeds shall be applied to restoration or repair 01 the Property dameged, if tha restoration or repair is economIcally
<br />teasible and Lender's security IS nollesaened. lithe reatoratiDn or repair Is not economically feaslbkt or Lender's security would be lessened. the insurance proceeds shall be applied to the
<br />sums IllIClJltld by this Security Instrumtlnt. whether or not lhen due, with any excess paid 10 Borrower. If Borrower abandons Ihe Property, or does not answer WithIn 30 days a notice lrom
<br />Lender Ihat the insurance carrier has offered to settle a daim, the Lender may collect the Insurance procaeda. Lender may use the proceeds 10 repair or restore the Properly or to pay sums
<br />Sl!IC:UNd by this Security Instrument. whether or not Ihen due. The 3O-day period wUl begin when Itle noUce is given.
<br />Unless Lender and BomrMtrotherNiM 119m in writing, any application 01 proceeds to prillCipal shall 1'101 extend or postpone the due date 01 the monthly payments referred to In paragraphs
<br />1 and 2 Of change !he amount of the payments. II undor paragraph 19 the Property is acquired by Lender. Borrower's right 10 any insurance poliCIes and proceeds r8sulllng 'rem damage 10
<br />the Property priof to the acquisition shaU pus to Lender to the extent 01 the sums secured by this Secunty Instrument immediately prior 10 the aCQuisition
<br />L ~ and............ of Property; LeaehokII. Borrower shall not deslroy, damage or substanllally change the Property, allow the Property to detertorate or commU waste
<br />II this Security Instrument Is on leasehold, Borrower shall comply with the provlslons of the lease, and if Borrower acquires lee lille 10 the Property, the leasehold and lee tllle shall nOI merge
<br />unIHa LencIer agrees to the merger in writing.
<br />7. PrDtecUon of L.endar'. RJghta In the Property; lIortpga I~rance. If Borrower lalls to perform the covenents and agreements .contained in thiS S&CUnty InSltument. or there IS a
<br />legal proc::eec:Iing!hal may significantly lIfIect Lender's rights In !he Pi'opetty (such as a proceedlOg In bankruptcy, probale. for condemnallon or fo enlores laws or regulatlonsl. 'hen lender
<br />may do and pay lor whalever is neceaaIY ID protect the value ot the Property and Lendar's rights in lhe Property, Lende"s acllons may Include paying any sums secured by a Ilan which has
<br />priontyowrthll SIlcunty Instrument, appearing In ccurt, paying reBSOnable anomeys' lees and enlenng on the Property 10 make repairs. Although Lender may take acllon under tillS paragraph
<br />7. L.enOer doh not hawllo do 10.
<br />Am amounlI disburMd by t..ender under thi. paragraph 7 shall become additional debt of Borrower secured by thIS Secunty lnslrumant. Unless Borrower and Lender agree to other tarms
<br />of ~ thne amounts IhaII bear interelllrom the date of c1Isbursement al the Note ra1e and shaII be payable. With inlerest. upon notice lrom Lender to Borrower requasung paymont
<br />"Lender ~ rnortgage Insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums reqUired 10 maIntain the Insurance In ellecl
<br />untii SUCh time .. the requirllrMnllor the Insurance terminates in accordance with Borrower's and Lender's wntton agreement or applicable law,
<br />L ~ ~ or Ita agent may make reasonable entries upon ancIlnspections 01 the Property. Lender shall glVO Borrower nollce at the lime of or poor to an inspectIon specifying
<br />l"HIOnabIec:auseforthelr\spection.
<br />L ~ The prclOMdS of any award or claim 101 damages. direct or consequential. In connectIOn WIth any condemmlllon or other takmg 01 any pari 01 Ihe Properly. or lot
<br />~ in IiIU of condemnation. .,. herwby asslgned and shall be pald to Lender.
<br />In h ~ oIalOtllllalung of U. Property. the proceeds shall be applied to !he sums secured by lhls Securlly Instrumenl whether or nolthen due. with any a_calis paId to Borrower. In
<br />!hI'..-u 01 a partial taking of 1M Pl"ClP<<IY. unless Borrower and Lender otherwise agl8e in wnling, Ihe sums secured by thiS Secunty 'nS'rument sl1all De reduced by the amounl or t"e
<br />~ rnuI\Jp&Ied by the tollowtng traction, (a)lhe tolel amounl 01 the sums MCU~ Immedlalaly before Ine lakIng, diVided by 1bllhD lair market value 01 the Propelty Immedlalely bolore
<br />dW taking Any CaJ&nce INI be paid to Bonower
<br />II h Property IS abandclned by Bcr.rower. or If. aller I'IOllCI!I by Lender to Borrower ItlBll1le condemnor oMels 10 make an award or senla iI claim 1m damages BOfrov.ar flllls to '"spond 10
<br />LendeI wrttun 30 dayI..1IM the ~II the noIJCe IS gMl"- LOnOel IS lIuthonzed 10 collect and appl~ 1116 proceeds III 115 'Jpllon Bither 10 18SIOtllhan 01 tepall 01 the Proparty or 10 thO sums
<br />MCUrMJ tyy IhI. Secunty tnsuurn.nl. whelher or nollhtln due
<br />Unle.. ~ and Borrower otherwl" 5gllHlln wr'lll"IQ. any application 01 proceeds 10 prrnopal 5nall nOI 0.1("'0 0' DOslpOno llll' (jUG Oflll! 01 ,nu "'Ol1lhl~ Il,l~nlent~ ,..trTI'I"~ t,. ,r< l'ilI"graphs
<br />1 and 2 at chanQII: !he amounl 01 such payments
<br />
|