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<br />DEED OF TRUST
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<br />88- 106772
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<br />ThiS DEED Or: mUST l-S.cunly In.!rum,"I' Iamadl on thlll 8th _ day 01 December
<br />\.~Th''''~o''' David A, Meyer and Barbara L, Meyer- husband and wife
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<br />rBorro_r"). The IrullH IS Commercial Federal SaYlnos and l.oan Auoclalloh,
<br />("Ttu....,. 1M beMflclary IS Commerdal Fedtral Saving. and Loan Auoclatlon, which Is OtOBnl!ed nnd .Itlllng under IhellWl of Nabrllkll, And WhollllddflllU 114460 Farnam. Omlhl.
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<br />..........1311"'endlH1._.....'....."..pri..",.,.um.ljine thousand seven hundred thirtv dollars and no/100 0<>11...
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<br />IUS. S 9730.00 ). Thll deblls evidenced by Borrower', noli dal4td the lame dllle all this SltCUrtty Instrument (-Notel, which provides for monthlv paymentl, wllh the
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<br />IuHdebI,lfnolpaldearller,dullandplvat*1on December 20. 1992 ,
<br />This Security IllIlNmenl aecum to Lender: (1llhe repayment 01 the deb1ltVlclenced by the Nole, WIth Inl.,.II, and all ren&W&ll, .xlenalonll and modJncaUona: (b) the paymenl of BlI elMr
<br />IfUlTlI, with Inlefftl, ~ ur.der paragraph 7 10 proIKt the ucurlly 01 thll Securlty I,,"rumenl; and lcllhe ~rformanC8 01 BoITOW8,'II CO\I8nants and agreements. For this purpo..,
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<br />Borrower trrevocably grants and COf1\'8y1 10 Trustee, In trust, wlUl power of sale, the lollowlng deacribod property Ioc:aled In County, Nebraska:
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<br />Lot Four (4) Block One (1) in Jack Voss Second Subdivision in the City of Grand Island
<br />Hall County, NE.
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<br />whiCh has the addreu 01
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<br />brand Island
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<br />(City)
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<br />4317 Michi9an Ave
<br />(Street)
<br />No....ka 68801 ('?rope"" Add....1:
<br />TOGETHER with all the Improvements now or hereafter erected on the property, and all easements, rights, BppurtenBf1C8s, rents, royalties, mineral, 011 and gas rights and profits, water
<br />rights and stoCk and all fixtures now or hereafter a part 01 the property. All replacemenls and additions shall also be covered by this Security Instrument All of the 10regOing is raferred to In
<br />thia Security Instrument as the ~Property, ~
<br />BORROWER COVENANTS that Borrower is lawfully seised of Ihe estale hereby conveyed and has the right 10 grant and convey Ihe Property and thai the Property is unencumbered.
<br />excepl for encumbnlnces of record. BoITOW8l' wananll and will defend generally the title to the Property against all daims and demands, subjecllo any encumbran~s 01 record.
<br />THIS SECURITY INSTRUMENT combines unllotm covenants for national use and non-umlorm covenants with limited varial~ns by jurisdiction to constilute a uniform security inslrumenl
<br />covering Alai property.
<br />UNIFORM COVENANTS. Bonower and Lender covenanl and agree as follows:
<br />1. ~t of Principal and Im.nti PNpeylMnt and La. Cfulrgn. Borrower shall promptly pay when due the principal of and intentSt on !he debl evidenced by the Nole and any
<br />prepayment and late charges due under the Note.
<br />2. fundi for Tun Ind InlUrmcII. Subject to applicable law or to 8 written waiver by Lender, Borrower shall pB"j 10 Lencler on the day monlhly payments era due under the Note, until
<br />the NoIe Is paid in full, a sum (~Funcla") equal to omHwelfth 01: (a) yearly taxes and auessments whiCh may altain priority over this Security Instrument; (b) yearly leasehold payments or
<br />gl'01Jncll1lnls on the Property, If any; (e) yearly hazard insurance premiums; and (d) yearly mortgage insurance premiums. il any. These i1ems818 called "escrow items. ~ Lender may estimale
<br />the Funds dUe on the basil Oi current data i'nd reaaonable efllirnates of future escrow lIems.
<br />The Funds shaI1 be held In an lnatIIulion !he depoaIIs or accounts of which are insured or guaranleed by a federal or stale agency (including Lender II Lender Is such an institution). Lencler
<br />shaU apptythe Funclato pay the escrow Items. Lender may not charge for hokllng and applying the Fundi, anaIyzlng Ihe account or verifying th9 escrow items, unless Lenclllrpayll Borrower
<br />interesl on !he Funds and appIlcabll!llaw pennlta Lender to make such a charge. Borrower and Lender may agree In wnttng that inlerest shall be paid on the Funds, Unless an Bgl1lemenll!l
<br />made or applicable law ~uirt$lnttte$l to be paid, Lender shall n01 be reqUired to pay Borrower any interest or earnings on the Funds. Lender shaU give to Borrower, without charge, en
<br />annual accounthlg or the Funi:ts showing Cl"ldltl and d-"lll to !he Funds and the purpose tor whld'l each debit 10 the Funds WISB made. The Fund:l 8111 pllldgod aa addItkmal security lor the
<br />suma secured by this Security Instrument. .
<br />If !he amount 01 the Funds held by Lender, together wtth the luture monthly payments 01 Funds peyable prior to the due datss ollhe escrow ilems, shall exceed the amount required to pay
<br />the esaow Items when due, the excesa shall be, al Borrower's option, eilher promptly repaid 10 Borrower or credIted to Bonower on monthty payments or Funds. 11 the amount of the Funds
<br />held by Lender Is not sufficienl to pay the escrow Items when due, Bonower shall pay 10 Lender arty amount necessary 10 malte up the deficiency in one or more payments as l'l!lQuired by
<br />Lender.
<br />Upon payment In full 01 all sums secured by this Security Instrument, Lender shall promplly refund 10 Borrower any Funds held by Lencler. It uncler paragraph 19 the Property Is sold or
<br />acqulnKl by Lender, Lender shall apply, no lalar Ihan Immediately prior to the sale 01 the Property or lis acquiSition by Lender, any Funds held by Lender at the time of appllcalion as a credll
<br />against the auma lSElCUI8d by this Security Instrument.
<br />3. ApJiticldioa of p.ymentL Unless applicable law provides otherwise. all payments ttlC8iVed by Lender under paragraphs 1 and 2 shall be applied: firsl. 10' late charges due under Ihe
<br />Nett: seconc!, 10 prepayment ctwgH due under lhe Note: third. to amounl!! payable under paragraph 2; fourth, 10 Interesl due; and last 10 principal due.
<br />4. Chargnj Uen.. Borrower shaU pay a1llllJ:es, assessments, charges, lines and Impositions attributable to the propeny which may attain 'Priority over this Security Instrument, and
<br />leasehold payments or ground I8nts, if any. Borrower shall pay these obiigalions in the manner provided in paragraph 2. or il n01 paid In Ihat manner, Borrower shall pay them on lime dlreclly
<br />10 the person owed payment. Borrower shall promptly furnish 10 Lender all notices of amounts to be paid under this paragraph. II Borrower makes these payments direcUy, Borrower shall
<br />~ptIy fumilh to Lender receipts evidencing the payments.
<br />Borrower shaD promptly discharge any lien which hes priority over this Security Instrumenl unless Borrower: tal agrees in wriUng to Ihe payment 01 the obligation seaJred by the lien In a
<br />manner acceplabla to Lender; (b) conlestsln good falth the lien by, or delends against enforcement 01 the lien In, legal proceedIngs which In Ihe Lender's opinlon operale to prevenl Ihe
<br />enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder ot the lien an egreement sallslactory to Lender subordlnallng the lien 10 this Security Instrument
<br />It Lander delermlnes that any part ot the Property Is subject to a lien which may attain priority 0V8l' this Security Inslrument. Lender may give Borrower a notice Identifying the lien. Borrowel
<br />shall salisfy the lien or take one Of more of the actions set forth above within 10 days of Ihe giving 01 neb.
<br />5. Hazard lnaurance. Borrower shall klHlp the Improvements now exiltlng Of hereafter erected on the Property insurea again 51 loss by lire, hazards included within Ihe lerm ~elllended
<br />CGWlrage~ and any other hazards lor which Lender requires insurance. This Insurance shall be malnlained in the amounts and lor Ihe periods Ihal Lender requires. The insurance carner
<br />providing the insurance shaD bu chosen by Borrower subject to Lender's approval which shall not be unreasonably wilhheld.
<br />All insurance policies and renewals shall be acceplable 10 Lender and shalllnclooe a standard moogege clause. Lander shall have Ihe righlto hold Ihe poliCieS and renewals. II Lender
<br />requires, Borrower shaD proniptly giWt to Lender all receipts 01 paid premiums and renewal nalices, In the event ot loss, Borrower shall give prompl notice 10 the insurance carner and Lender.
<br />Lender may make prool of Ioaa tI not mada promptly by Borrower.
<br />UnIeu Lender and Borrower otherwise agree In wriling, insurance proceeds shall be applied to restorallon or repalr 01 the Property damaged, if Ihe resleratlon or repair is economIcally
<br />leaslble and Lander's security Is no1leuened, II tha resloratlon or repair is not economically leesible or Lender's security wouid be lessened, the Insurance proceecls shall be applied to the
<br />sums IIeC!JI'8d by this Security Instrument, whether or nol then due, with any excess paid to Borrower. II Borrower abandons the Property, or does not answer WIthin 30 days a notice from
<br />Lender thatlhlt insurance cartier has ofterecl to aettIII a claim, the Lender may collect the insurance proceeds. Lander may use the proceeds to repair or resto.-.the Property or 10 pay sums
<br />!Il!ICUO!ld by IhIa Security Instrumenl, whether or not Insn dua, lhe 3CJ.dey period WIll begin when Ihe nolice Is given.
<br />UnIesa Lender Imd Borrower otheJWllSO agmlI in Wfitlng, any applk;aUon of !)roceecfa to principal shall not extend or postpone the due date of the monthly payments referred 10 In paragraPhs
<br />t IlPd 2 Of c:f1ange the amount of the p5)'ITlOf1ta, If under peragraph 19 tho Property Is acquir8d by Landor. BolTQWI9r'e. rig"' 10 any insur&nce pdllci811 and proceeds resulllng from damage 10
<br />the ProI-tY prior to the ~ MaJI pass to Lender 10 the plenl of Ihe sums SBCunld by thls Security Instrument Immediately prior to the acqulalllon.
<br />IL ~ mil IlIalntInMct at PropGrtyi LeuehoIdr. BonoMr shall not destroy, damage or subslanttally change the Property, allow the Properly 10 deleriorele or commil waste
<br />II this Security tnatrument is on leasehold, Borrower shall comply with Ihe proviSIOnS of the IeBlle, and if Borrower acquirea lee title 10 the Property, the leasehold and lee tllle shall not merge
<br />untl!lsl L.endeJ agren to the merger In writing.
<br />7. PrOI*:don of UndM". Rights In thII PrDf*tJ; IIortg.. tn.u...n~. If Borrower lalls 10 perform the covenants and agreements contained in {hI, Seeunty Instrument. or there is a
<br />IeQal proceeding thaI may signlflC80tly affect Lender's rights in Ihe Property (such as a procHdtng In bankruplcy, probate, lor condemnallon or 10 enroree laws or regulalions), then Lender
<br />JMydoaoo pay lor whaIeYer is necessary 10 pro18Ct thevalul!l 01 the Property and Lender's righls in the Property_ Lander's actions may include paYing any sums secured by a lien which has
<br />priorityowoerlhil Security Instrument, appearing in court, paylng reasonable anomeys'lltlts and entering on the Property 10 make repairs. A1lhough Lander may talte aelion under Ihls paragraph
<br />7,L.en:ierdon no1haYetodo 10. .
<br />Any arrounls dIabursed by Len-Jer under thi!r paragraph 7 shall become additional debt 01 Borrower HCUrea by Ihis Security Instrument. Unless Borrower and Lander agree 10 other lenns
<br />01 payment, IhnIt amountl shall bear inleres11rom tn. dale of disbursement at the Note rele and shan be payatlle, WIth interesl, upon nollce lrom Lander to Borrower requesting payment
<br />rr LM1der required mot1~ insurance as. condition of making tlHlloan lMtCUred by thl!! Security Instrument Borrower shall pay Ihe premiums required 10 maintain the insurance 10 effect
<br />untiIlIUCh!me as 1hII requirement IOf the insurance lenninaln In occordance with Borrower's and Lender's wrrtIen agreement or applicable law.
<br />L In8pIctIon. Lenl>>r Of ita agtnl m-v make rauonabIe entrln upon and inspection. of the Property. Lender shall give Borrower notIce at Ihe lime 01 or pnor 10 an Inspecllon speClfy10g
<br />~cauulorlheinl!)Ktion.
<br />L ~ n. prOCMdI of any award or claim for dameoss, direct or conMquenlial, in connectIOn with any condemnation or olhel lak10g or any parlor Ihe Property, or for
<br />~ In lieu 01 c:ondemnation, Mt hlt.-.by uaigned and shall be paid to Lender.
<br />In"" went oIa total taidnO of the PropIrty. the procetlda thall M applied to the sums aecured by thiS Secunly Instrument whelher or not Ihen dUA. wllh Itny ,ucess paid 10 Borrower In
<br />no. .....,1 01 a paruaa IlIiung or h Proporty, un"', Borrower and Lender olherwlae agree 10 wntlng. the sums sl!lC1J~ by thIS Secunly lnlllrument $hall be reduced by lhe amounl 01 Ihe
<br />~ mullrpiled tll the 10UowIOg lractiorr lalthe lotal.mounl o!' lhe lum& HC\Ired Immedlatety belore Ihe lakIng dlvlatttt by IbJ lhe Illlt market value 01lh8 Propefly,mmedialely be/ore
<br />~~. Any ~ ahslt be paid to Borrower
<br />" !he Property 1& ~ by BonO'lWt or rt. allltl' nela by ltInd.r to Bonowel IhallM conOemnot ollelllo ma~e an awar" or sellla a dnlm In. nB'''IIQo5 Borrower talts 10 reSpOnd 10
<br />l..Mldor WlItrIn 30 ~.ayl sher tM ~ 11111 nota tI grven Lender 15 sutha'ulId to collect al1d ilpply me proceeds II "II option '1IIhe. to 't'llt'fltlIO" '" 'f'IIoW <" 1M.. P'OfJtf.ty llt 10 Ihe sums
<br />~ by ItQ Secunty tnsllumtlnt. wntllllel Of not tllen au.
<br />u....~ aNi ~ OU....... ~ ,n _"ling any aQPlc.ItJOn at~. 10 Pl1nc.tl61 '''1111 nol ".'''0(1 0' pollpn"" Ih. <lUU <llll!' "I till' """'1"1\ I"'~"'''''!'' 'nl!!"[O" 10 ," PlIrngrap""
<br />I .-rei 2 or change !hi amount 01 ...ctl ~ments
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