|
<br />88- 105568
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST (-Secunry Inslruml!,"") tS made on this 10 dav 01 Dc t.
<br />
<br />,.~ Th.",,,,o<" Levin D. Collins, Jr, and Barbara A. Collins, Husband and Wife
<br />
<br />rBonower"). The truslee III CommerciI! ~.ral Savings and Loan Auocltltion,
<br />("TIus.\H'. ThI t>>nefiCWy IS Commen::IaI Faderal 58Vlngl and Loan Auociallon. which III organized and existing under Ihe IIlWS 01 Nebruka. and whoSI addltlu Is 4460 Farnam. Omaha,
<br />
<br />~";"Ii'1l/i:T8'~:~.:-'Lend."h6_lUm.1 Four Thousand Six Hundred Ninety Eight Dollars and 1011~'ere
<br />
<br />tUs. s I. ThIll debt ill eV1denced by Borrower's note da~ the same dale as Ihls Security Instrument (MNoIB), which provides lor monthly payments, wlth Ihe
<br />
<br />IUI-.tt""'peid......,dveand_on April 15. 1991 ' -,
<br />lhlI Security Instrument lOCUm to lAndH: Ill) lhe re~em of me Debt evldllnced Dy U1e Nole, with Interest, and alll1lnownlll.. 8wt!lnalons and modlliCallorul: (b) tho PEIYlTlent 01 all other
<br />sums. w11h .n!efWSt. ~ under parIIgI'&Ph 7 10 protBCt Ill. security 01 this SecuritY InalNment: and lei the petlormllnC8 of BolTOW8r's covenam15 and agrotlmentD, For Ihlll pUrpoSlI.
<br />
<br />eo.mw.r lfT8\'OQbIy grants and COnveytl to Tru;;t1t8. In IruSt. Wllh power 0; saIEI, thn folloWing duclibed property Iocal~ in Ha 11 County, Nebraska:
<br />
<br />Lot Four (4), Block Thirteen (13) RlIss"ll \'Iheeler's Addition to the City of
<br />Grand Island, Hall Count}, NE
<br />
<br />wtliCtl has Ihe addrnS of
<br />
<br />103 E, lOU,
<br />
<br />Grand Island
<br />
<br />-
<br />
<br />68B01
<br />
<br />(SlIeell
<br />rproperty Address~l;
<br />
<br />(CllYI
<br />
<br />L
<br />
<br />TOGETHER WIth all the improvements now or hef'8.!1tter eltlCtDd on the property, and all Basements, nghts, ap;Jurtenances, rents, rayallls:!. mineral, od and gas ligh!.s and prollls. water
<br />rights and stock and all fixtures now or hereafter a part olltla property. All replacements and additions shall also be covered by Ihlll Security Instrumenl. All 01 the foregoing Is ralerred 10 in
<br />this Security Inslnlment as the "Property."
<br />BORROWER COVENANTS thllt Borrower IS lawfully seised of tho estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered.
<br />ea.cept for encumbrarlceS of nK:Ol'd. Bonower warrants and will defend genorally the title 10 the Property against all claims ana demands. subject 10 any encumbrances oll1lCQrd.
<br />T}-tIS SECURITY INSTRUMENT ctmbInes wtllorm covenants lor national use and non "uniform covenanls with limited vanallan!! by junsdiCllon to conslllu!s a uniform security instrument
<br />""'""""....P-ny,
<br />UNIFORM COVENANTS. Booower and Lendl!f covenanl and agree as follow8:
<br />,. ~I or PrIncIpII and 1........1; PNpayment and Lab Ch..... Borrower shall prompUy pay when due Ihe principal of and Intllmt on the debt evidenced by the Note and any
<br />~ and late c:hargn due under the Nole
<br />2. fundi for""" and Insuranca. Subject to applICable law or to a wntten waiver by Lender, Borrower shall pay 10 Lender on the tll)' monthly payments are due under the Note. untll
<br />the NotlIIs paid In fuD, II sum (-Funds"') equBlIO ona-twetfth of: la) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly leasehold payments or
<br />ground rents on the PropIIfty, it any: (c) yurIy haUrd insurance pl8miumll: and (d) yearly mortgage insurance premiums, il any. These lIems are called -escrow itemll.ft Lender may estimate
<br />the Funds due on 1M bull of curmrt Clall and reuonlbt& ..tImatea 01 future escrow Items.
<br />The Fundi shall be held In an inltitutioC'l the depoSIlI or IIa:OUnta of which are insured or guaranteed by II IlKIeral or lIlall1 agency (Including Lender if Lender is such an insuwlion). Lender
<br />ahaII ~ tI'\t Fl.In4I to PlY the ncrow I1tmt. Lender m.y not ctwve for hokfltlg and applying the Funds, anaJyzlng th8 account or verifying fhe escrow items, unlen Lender pays Borrower
<br />Intern1 on the FIllldI and ~ laW pennItI Lender to I1\U.II auch .. d'large. ~ and Lende, may -0'" In wnllng Ihlllnlannl snall be paid on the Funds, Unless Bn 8Qreomenl is
<br />m.- or ~ I.... requira IrdMUI to tM paid. Lendet" shall not be required to pll'( Borrower any lnllrell or earnmgs on 1M Fundll. Lend8r aMI! give to 6orrower, without charge, an
<br />annual accounting 01 the Fundi ahowing credita and debita to the Funds and the purpose for which each debtt to the Funtls was made. The Funds are pllKlged all addJllonel security lor lhe
<br />sums ucunK1 by IhiI SecuriIy Instrument
<br />If Iht amount of the Fundi- hltkl by Lender, together with IhI fuw... monthly payments 01 Funds payable prior to Ihe due date. ollhe escrow items, shaU axc.aed the amount rIKluired 10 pay
<br />the ncrow ImnS when due. the excel! snan bI, at BofTOVller's option, either promplty repaid to Borrower or credited to Borrower on monthly payments 01 Funds. "the amount 01 the Funds
<br />held by L.encm" Is nolaufflcient to pay the escrow items when due, Borrower shall pay to Lender any amount neces5l1lY 10 make up the deficiency in one or more paymonts as rIKlulred by
<br />~,
<br />Upon peymenl in fuD of all sums BtIClJred by this Security Instrumer.:, ~Ander shall promptly refund 10 Borrower any Funds held by Lender. If under paragraph 19 the Property is soltl or
<br />acqund by t.ender, Lender shall apply, no later than immedllllely prior to the SlllV vi me Property or Its acquiSition by Lender, any Funds held by Lender at the lime 01 application as B creelil
<br />IIg8inst 1M suma MClJl'8d by this Security Instrument.
<br />3. AppIicItiDn of PIlymM\ta. UnIeu applicable law provides othelWi5l, all payments recoived by Lender under paragraphs 1 and 2 shall be applted: first, 10 late charges due under Ihe
<br />Note: seconcl,lO prepaymem charges due under the Note; third, to amounts payable under paragraph 2: laurth, to interest due; and tllS!, to principal due
<br />4. ChargIIi Uena. Borrower shall pay all was, assessments, charges, fines and impositions attributable 10 the Property which may attain priority over thts Securily Instrument. and
<br />IeasehOkl payments or ground rents, If any. 6cn'ower shall pay these oblloation!l in the manner provided In paragraph 2, or il not paid in that manner, Borrower shall pay Ihem on lime C1lrect1v
<br />to the person owed payment. Borrower Shall promptly furnish to Lander all notices of amounts to be paid under this paragraph. If Borrower makes Ihese payments dIrectly, Borrowur shall
<br />promptty fumtah to Lend4tr recelpIs evidencing the payments.
<br />Borrower shall promptly discharge any lien whld1 hu prionty over this Security Instrument ulltess BoITOW9f; (a) agrees in wnllng to the payment 01 the obligation secured by the lien In a
<br />manner ~ to LenMr, (b) cont.sts in good laith the lien by, 0' defendll against enforcement 01 the lien in, legal proceedings which in the Lender's opinion operate 10 prevent the
<br />enforcement of the..." or tortertu,. of any part of the property: Ol" lei secures from the holder of the lien an agreemenl sallstactory 10 Lender subordlnaling the lien 10 this Security Instrumenl
<br />II L.endIIr MIem1ll'1H thai any part 01 the Property is subject to a lien which may attain priOnIy ovor Ihis Security In$InJmenl. Lender may give Bof'1"OW6r a notice identifyIng the Uen. BolTOwe'
<br />shall !aliIfv u. Utn or IIQ one Of morI of lilt actions 5GI. forth aboYe within 10 dayS of the gIVing 01 notice.
<br />15. tward InMInIICL Borrower ahd keep lhe improvements now elisting Ol" hereefler ereck>d on the Properly InsUred against loss by lire, hazards included within the tenn ~el(tended
<br />c:overagII_ and any athet haanis lOt which l.Itndef requil8s insurance. This insurance shall be maintained in the amounls and for the penods thai Lender requires. The insurance carrier
<br />providing tn.1nlUranc:e IhaII tM choII;n by 8oITower subted to Lender's approval which shall not be unreasonably withheld.
<br />AJI ~ polIcin and rwnI'WMI ~ ~ IICC8pIlIbIe to l.endtIl' and shall include a standard mortgage dause. Lender Shall have the nghllo hold the policies and renewals. II Lender
<br />requirn, Borrower sh.u prampIty oNe to Lender all receIpts of paid premiums and mr.ewal notices. In the event 011055, Bof'1"OW6r shall give prompt notice I" the Insurance carrier and Lender
<br />LenOer rrwy make prool 01 Iou if not IMlM promptly by Bonaw&r.
<br />Un"" Lender and Bonoaer otherwIH agre- in wntll'lg, insurance proceedS shaD be applied to reslofallon or repair of the Property damaged, II the resloration or repair Is economically
<br />fHliblll and Lender's MCUrity cs not \nuned. lithe restoration Ol" repair II not economically feasible or Lender's secunty woulcl be lessened, the insurance proceeds shall be applied 10 the
<br />SlJ1nIl8Q.lred by this Securrty 100trufMfll. whether or not then due, wtth any excess paid to Borrower. 11 Borrower abandons thfl Property, or does nol answer WIthin 30 days a notice from
<br />ler1l>>r thai tl'W inII.u'anC8 earn. hIUI otf..:t 10 aettIe a claim, the Lender may c:oIIect the insurance proceeds. Lender may use the proceedS to repair or restore the Property or 10 pay sums
<br />socured by INs s.cunty ~ whether or noIlMn due. The ~ period will bogln when Ih8 nottce is given.
<br />UrMu Lender atd ~ olherwisa ~ in wtiling, any appiicatiOn of proceeds to princJpal shall not extend or poslpOne the due dale 01 the monthly peymenla relerred 10 In paragraphs
<br />1 .00 2 or change the amount of the peyrnenIS. II under paragraph 19ltJe Property is acqulled by Lender, Borrowe,'1S right to any Insurance policies and proceeds I8llulllng from damage to
<br />tM Property priOr 10 the ~1Iition Ih8I pal to LAnder to the extent oIlh1 suma 5IIClJI'l!!Id by tNa Security Instrument Immediately prior to lhe ecqu:sitIon.
<br />L ~... ~ 041~:.......... ~ shall not deStroy. damage Ol" substantlallV chllnge lhe Property, BIlow lhe Property 10 delenorate or Ctlmmit 'Nasle
<br />If ttis SecurIty lnItrumenIla on Ieuehold, Bon'ower shall comply with the provisionS 01 the lease. and if BorTOWer acqUires lee title to the Property. the leasehold and fee Illle shall nol merge
<br />1.riesIIl...- ~ 10 the merger In writing
<br />7. ~ of~. RIgtrb In U. Propertyi ~ InllUf1lftC8. If Borrowe' l&ls 10 perlorm the covenants and agreements conllllned In thill Security Inslrument. or Ihere IS a
<br />Ie;aI prOCMdIng IhIIIMy signifICantly affect Lender's rights in the Property lsuch as a proceeding in bankruptcy, probale, for contlemnatlon or to enforce laws or regulatIonS). then Lentle'
<br />r,.,- do and s-y tot ____ is f1IlIC1nII&l'Y to proIec1tho value of IhtI Prope.ty and Lender's rights In the Property. Lender's actIOns may lOclude paYIng any sum!! secured by a lien whIch has
<br />p1OI'tlyoo,wbl5cdyfl1elrument, ~arirlg in court, paying ~ attofMlys'llMS and entllring on the Property 10 make repairs. AlIhough lendel may!&ke aCllon UOl:l&f IhlS paragraph
<br />7,lAndeI'dClMnoI"-'-todollQ.
<br />Any amountI ~ by ~ undlW this ~ 7 &hall become addillonal tlebt of BorroWtlf HCUf1tt:l by this Secunly Instrument. Unlass Bonawo/ ano lender aglll'e 10 olher tenTIs
<br />01 ~ IhHe MlOUOtS shill"'" m.r.st from the dale 01 dilburMmenl al the Note rale and shall be payable, WIth Inlerest, upon nol1ce from Lender to Borrower reQuesting pa.ymenl
<br />II I..ancs.' rwquQd ~ lnsUranl::e u . ccndition at r.'Iaklng \he loan HCUred by thIS Secunty Instrument, Borrower ahall pay the pm/mums reqUIred 10 maIntain the Insurance In elfflcl
<br />unII-.ch ~ as IN ~ lor the insuranoe tenninalft in ~ With Borrower'. and Lend&l"'s wrtn&n agreemenl at applicable law
<br />.. ~ ~ or 1:1 9"1 fNl)' make,.uonabkt entJin upon and mspectlOns of the Property Lender thall gM! Borm\Wr nota at the Ilme 01 or POOt 10 an InspectIon IpecllYlnQ
<br />........C** lor "1nIpIdia"l.
<br />.. ~ n. prooMOa 01' any .-rd or clam fOf darnaOeS. dlf~ or collll8Quenllal. I" cormecOon Wllh any condemnallon or olher taIling 01 llOy pllll 01 the Pmperl~ or lor
<br />~ "'... of~. .. hetaOy ldIigned and shalt be paJdlo ~ndel
<br />In rn...-1I 01 a 101I:III ~ ot the~, the proca.eds ahaU be apphd 10 the sums secured by thlll Sec:unty InslnJment whether or nollhen duo. .,.,th any lucen tlflk.llo BorTlI_I In
<br />h nenI or . ~ taJng or tt-. P/'opIIorty. unln.io BofrOl!:'8f and LllnOII, O!h4lr'WlH agree In wrlllng. lhtl sums I18CUrea by thr. 5ecuIII\l Inlllrumenl 5nall blJ ,ooul,efl by Ii'll amtKlnt or Ihe
<br />~ ~ b'f tt-. lollown;l trw;:Uon Is)1he total amounI of me sums HCUred Imml!(!lalely before the lI11llng dlYlCIltd by ,bl Ihe tan marttel ~alutl .lr lhl! Plopelly ,mrnetllele1v tlfIl,,,.
<br />rr...taIUng ,"",,~IIhaI~pMitoe.orro..r
<br />I! N Ptcperty ca.c.ndDnec:l Dy BorrDMI Ol" II an.. nollCe by Lendel to BorTOwer Ihat U\8 conoemnOt o".,s 10 maloO an IJWlSro 0' ~e"lilll ('III,m '0' '11IrT>lttJt'''' Boor~1 '.~" III '..pun" h'
<br />L.IiI"ldet' ..... JO c.,. .,.., tna a.al. N notlCIIII ~ Lender III autnonzllCl to coIleC1 and appI\f !nit f)fOCIlHldI al 'Ill OpllQn ..'Ihe' In .....to.8110" ." ,..p_w ",0,.. "'"1''''' '" ,u 10' ",.. ...."'..
<br />MCUfWCI C, ",. Sead'r In~ ~ DI noI1hen due
<br />~I ~ A"IlJ ~ ou-w... -orH "'..-rtno.. any appIM;ahOn 01 proc:eOO.. \0 f)f1nc,pal V.AlI nol ..I&">d U' 1>o&Ip<"'" Tt\lIlJue ColI.. ). '"'' 'n" t" , , ,,,'''''''1.. ."''''''''! ." ." l'II""J'l\l'''.
<br />1..:l201c;l'lltrlgefheAfY'QTllolltUCfIP8'f"*1lS
<br />
|