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DEED OF TRUST 87-- 103449
<br />THIS DEED OF TRUST is made this Bth day of June
<br />19__$Z, among the Trustor, Gaspar Covarrubias and Vicki S. Covarrubias, Husband and Wife
<br />(herein "Borrower "), _ AREND R. SAACK, ATTORNEY AT LAW
<br />(herein "Trustee"), and the Beneficiary, HOME FEDERAL SAVINGS & LOAN ASSOCIATION OF GRAND ISLAND NE
<br />a corporadon organized and existing under the laws of NEBRASKA whose address is 721 SOUTH LOCUST, P. O. BOX 1000
<br />GMND ISLAND. NE 1!!!02 (herein "Lender "). .
<br />BORROWER, in consideration of the htdebtedness herein recited and the trust herein created, irrevocably grants and conveys to Trustee,
<br />in trust, with power of sale, the following described property located in the County of Hall
<br />State of Nebraska:
<br />Fractional Lot Six (6), Fractional Block One Hundred Thirty Two (132),
<br />in Union Pacific Railway Company's Second Addition, and its complement,
<br />to wit; Fractional Lot Six (6), Fractional Block Five (5), in John
<br />Voitle's Addition, both being additions to the City of Grand Island,
<br />Hall County, Nebraska.
<br />which has the address of 512 East 8th Grand Island,
<br />(STREET) (CITY)
<br />_ Nebraska 68801 (herein "Property Address ");
<br />(STATE & ZIP CODE)
<br />TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents
<br />(subject however to the rights and authorities given herein to Lender to collect and apply such rents), royalties, mineral, oil and gas rights and
<br />Profits. water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replacements and
<br />additions thereto, shall be deemed to be and remain a part of the property covered by this Deed of Trust; and all of the foregoing, together with
<br />said property (or the leasehold estate if this Deed of Trust is on a leasehold) are herein referred to as the "Property";
<br />TO SECURE to Lender (a) the repayment of the indebtedness evidenced by Borrower's note dated _ '
<br />(herein "Note "). in the principal sum of Ten Thousand, Two Hundred Ninety Four and 44 100---- - - - - -- -Mid
<br />with interest thereon, providing for monthly installments of principal and interest, with the balance of the indebtedness, if not stoner paid, due
<br />and payable on December 5, 1993 ; 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 Advance ").
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant 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, easements or restrictions listed in a schedule of exceptions to coverage in any title insurance policy
<br />insuring Lcuder's interest in the Property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />i. ''aysimm of Prlladtal aced Iatesest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced
<br />by the Nom, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed
<br />Of Trust.
<br />3. Paais tat Tam ad Laraasx. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to fender on the day
<br />monthly lastaUments Of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds ") equal to one-
<br />twelfth of the yearly tamers and assesstents which may attain priority over this Deed of Trust, and ground rents on the Property, if any, plus one-
<br />twelfth of yearly Premium Installments for hazard insui ance. plus one -twdRh of yearly premium installments for mortgage insurance, i f any. an
<br />as reasonably estimated Initially and from time to time by Lender on the basis of assesaments and bills and reasonable estimates thereof.
<br />The Funds shalt be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or sate agency (including
<br />Leader It Lender is such an institution). Lender shall apply the Funds to pay said truces, assessments, insurance premiums and ground rents.
<br />Lsstder may riot charge for so holding and applying the Funds, 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 agree in
<br />writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or
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