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DEED OF TRUST 87-- 101631
<br />THIS DEED OF TRUST is mate this 17th day of March
<br />t9 87 mam the Mor Eugene L. Stout and Lila F. Stout, Husband and Wife
<br />(herein "Blorrower" ), _ AREND R BMCk ATTORNEY AT LAW
<br />(herein "Trustee"), and the Beneficiary, NOME FEDERAL SAYINGS i LOAN ASSOCIATION OF GRAND ISLAND HE
<br />a corporation organized and existing under the Iaws of NEDRASKA while addten n ZH SOUTH LOCUST, P. Q SOX in%
<br />GRAND !@LAND. NE San (herein "1.Wer'�.
<br />BORROWER, m tonademdm of the wdebtadnen herein reckW and fhe true herein txeated. ittsvowbly grams and conveys to Trustee,
<br />in trust, with power of sale, the following described property tooted in ft County of Fi 11
<br />S4ft of Nebraska:
<br />Lot Fourteen (14) in Block "B" in Parkview Subdivision, Located in the Northeast
<br />Quarter of Section Twenty Nine (29) and the Northwest Quarter (NW' -a) of Section
<br />Twenty Eight (28) Both in Township eleven (11) North, Range Nine (9) West of the
<br />6 th P.M., Hall County, Nebraska.
<br />which hrs the address of 2115 Park Drive Grand Island
<br />(STREET) (CITY)
<br />Nebraska 68871 (herrin- Property Address");
<br />(STATE & ZIP CODE)
<br />TOGETHER with all the improvements now or hereafter erected on the Property, and all easements, tights, appwromaatxs, rents
<br />(subject however to the rights and authorities given herein to Larder to cotter[ and apply such rents), royalties, mineral, oil sad sus r*hts W
<br />Profits, water, water rights, and water stock. and all fixtures now or hereafter attached to the property, all of which, including ceplaxmeats and
<br />additions thereto, shall be dem led to be and remain a part of the property coveted by this Dead of Trent; and all of the forte, together with
<br />said property (or the teasehold estate if this Deed of Trust is on a leasehold) are bean referred to as the "Property";
<br />TO SECURE to Leader (a) the repayment pf ,yg tnddnedoess evidenced by Borrower's note dated march 17, 1987
<br />(herein "Note "). in the principal stun of Ci ht Thousand, Two Hundred Ninety Six and 97 i DD--- --fyallas.
<br />with interest thereon, p ITia1` fg ruppElil y uMrllmerts of principal and interest, with the balance of the
<br />�'�ar �GJJ 11 yy4 , if not roomer paid, doe
<br />and payable on - • the payment of all other sums,
<br />with interest thereon, advanced in accordance herewith to protect the security of this Deed of Trust; and the performance of the covenants and
<br />agreements of Borrower herein contained; and (b) the repayment of any future advances. with interest thereon. made to Borrower by Lender
<br />pursuant to paragraph 21 hereof (herein "Future Advances ").
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to gram and convey the Property,
<br />that the Property is unencumbered, and that Borrower will warrant and defend generally the title to the Property against all claims and
<br />demands, subject to any declarations, casements or restrictions listed in a schedule of exceptions to coverage in any title insurance policy
<br />insuring Lender's interest in the Property.
<br />UNIFORI%I COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Paymm of Priedpnt aid Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced - by the Note, prepayment and late charges as provides] in the Note, and the principal of and interest on any Future Advances secured by this Deed
<br />of Trust.
<br />2. Faids for Tam W lesiraam. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Leader on the day
<br />memtbhy installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (hadn "Funds ") equal to one -
<br />twelfth of the yearly taxes and asausments which may attain priority over this Deed of Trent, and ground rents on the Property, if any, phis one-
<br />twelfth of yearly premium installments for hazard insuranee, plus one - twelfth of yearly premium installments for mortgage insurance, if airy, all
<br />as raaatably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or sate agency (including
<br />Lender if Leader is such an institution). Leader shall apply the Funds to pay said axes. ammracttts, insurance Premiums and ground ranss.
<br />Lender tray net charge for to holding and applying the Fonds, analyzing said account or verifying and compiling said assessments and bills,
<br />unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may asrm in ti
<br />writing at the time of execution of this Dept of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made at
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