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<br />THIS TRUST DEED is made on ADril 28. 2008 by and between the Trustor, Blake M Corman and Jill M Corman, husband and wife (herein "Borrower"),
<br />Mutual of Omaha Bank, (herein "Trustee"), and the Beneficiary, Mutual of Omaha Bank, (herein "Lender"). Lender's address is 3333 Farnam St, Omaha, NE
<br />68131-3409.
<br />BORROWER, In consideration Oftfie ffiOebtedrie-ss "herein recited aild the Trust herein created, irrevocably grants and conveys to Trustee, in trust, with the
<br />POWER OF SALE, the following described property located in the County oCHall, State oCNE:
<br />
<br />Lot Eight (8) in Block Six (6), in Country Club Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />
<br />TOGETHER with all buildings, fixtures, and improvements now or hereafter erected thereon and all rights-of-way, easements, leasehold interests rents, issues,
<br />profits, income, tencmcnts, hereditamcnts, privileges, appurtenances, royalties, and mineral, oil, gas and water rights thereunto belonging, used or enjoyed with said land or
<br />any part thcreof: all of which, including replaccments and additions thereto shall be deemed to be and rcmain a part of the property covered by this Trust Dced; and all ofthe
<br />foregoing together with said property are herein reterred to as the "Property". Borrower further pledges and assigns to Lcndcr all right, title and intercst to any and all
<br />monies on deposit with any city, county, public body or agency, sanitary district, gas and/or electric company, telephone company and any other body or agency for
<br />installation or to secure the installation of any utilities or improvements pertaining to the Property.
<br />TO SECURE to Lender the repayment of indebtedness evidenced by Borrower's note dated ADril 28. 2008, (herein "Note") in the principal sum of $19.100.00,
<br />with a final maturity, if not sooner paid, of Mav 15. 2011, and as sccurity for any future advances that may be made by Lender to Borrower from time to time and as
<br />security for the payment of any and all other indebtedness of the Borrower to the Lender which may now exist or hcrcaftcr arisc, all of said sums not to cxcced in thc
<br />aggregate a sum equal to three times the original principal amount of the above recited Note.
<br />BORROWER covenants that Borrower is lawfully seized of the Property hereby conveyed and has the right to grant and convey the Property, that the Property is
<br />unencumbered by'an-y mongage, trust deed, contract to purchase, or otherwise, except for a Prior Lien in favor of Mutual of Omaha Bank on which the unpaid balance on
<br />this date does not exceed $93.574. Borrower covenants to comply with all the terms and provisions of any prior mortgage. trust deed or contract to purchase, upon the
<br />Property and to make all paymcnts thcrcon before they become delinquent. If no name or amount is inserted in this paragraph, the Borrower covenants that there are no
<br />prior liens of any kind upon the property. Borrower further covenants to warrant and defend the title to the Property against all claims and demands. Borrower agrees to
<br />execute and deliver from time to time such further instruments as may be requested by Lcndcr in form and substance satisfactory to Lender to confirm the licn of this Trust
<br />Deed on any of the aforementioned Property.
<br />Borrower and lender further covenant and agree as follows:
<br />I. Borrower shall promptly pay when due the principal and interest on the indebtedness evidenced by the Note.
<br />2. At least ten days before they become delinquent, Borrower shall pay all taxes and special assessments levied or assesscd against thc Propcrty, or any part
<br />thereof, and all taxes, levies and assessments levied upon this Trust Deed or the debt which it secures and all payments or monetary obligations required of the owner oflhe
<br />Property under any covenants, declaration, agreement, conditions or restrictions pertaining to the Property or any modification thereof. In the event of the passage of any
<br />law changing the collection of such taxes or assessments so as to impair the security of this Trust Deed or the holder hereof or changing in any way the laws for the taxation
<br />of Trust Deeds or debts secured by Trust Deeds for statc and local purposes the Lender shall have the right to declare all sums secured hereby due and payable in full as of a
<br />. date to be specified by not less than thirty (30) days prior written notice to Borrower, provided however, that such election shall be ineffective if Borrower is permitted by
<br />law to pay the whole of such tax in addition to all other payments required hereunder and if prior to such specified date does pay such tax and agrees to pay the same when
<br />'levied or assessed thereafter before del inquency.
<br />3. Borrower shall keep the improvements and buildings, if any, upon the Property insured, with a company or companies approved by thc Lender, for an
<br />amount not less than the unpaid balance on the indebtedness secured by this Trust Deed with a standard mortgage clause with loss payable to the Lender. If the Property is
<br />now or hereafter located in a flood hazard area, Borrower shall, at its expense, acquire and at all times maintain flood insurance on the Property in an amount for no less than
<br />the unpaid balance on the indebtedness secured by this Trust Deed with a standard mortgage clause with loss payable to the Lender. Lender may charge Borrower a
<br />reasonable fee for the cost of determining whether the Property is in a flood hazard area, If requested by Lender, the Borrower shall obtain and at all times maintain
<br />comprehensive gencral public liability insurance on the Property for an amount not less than $1,000,000.00 per occurrence with an aggregate coverage of $2,000,000.00 and
<br />an umbrella policy in an amount not less than $1,000,000.00. Borrower shall deli vcr said policy or policics to the Lendcr.
<br />In the event or a loss, Borrower shall give prompt notice to the insurance carrier and the Lender and me a proof of loss. If the Borrower is not otherwise in
<br />default, the Borrower may elect to apply the insurance proceeds to repair or replace the damaged Property, if economically feasible, and the sccurity of this Trust Deed
<br />would not be impaired. If the Borrower is in default under this Trust Deed or the Note or if Borrower elects not to repair or replace the damaged property or rcpair or
<br />replacemcnt would not be eClinomically feasible or the security of this Trust Deed would be impaired then the insurance proceeds shall be applied to the last maturing
<br />payments due on the Note. if the insurance proceeds are in excess of thc total iI"lount sCl'ured by this Trust Dced, the excess shall be paid to the Borrower. Insurance
<br />proceeds for repair or replacement shall bc placed in escrow with the Lender and disbursed by Lender during or upon completion of such repair or replacement.
<br />4. Upon the request of Lender, for the purpose of providing a fund for the payment of taxes, special assessments and insurance premiums, Borrower shall
<br />deposit with lender, on the dates that payments are due on the Note, an amount equal to thc taxcs, asscssments and insurance premiums next due (all as estimated by the
<br />Lender, lcss amounts already deposited therefor) divided by the number of payments on the Note that will become due prior to the date when such taxes, assessments and
<br />insurance premiums will become due and payable. In addition Lender may require Borrower to make an initial escrow deposit and to maintain an escrow cushion during the
<br />term of this loan to the extcnt permitted under state law or federal law or regulations applicable to federally related mortgage loans, whichever is greater. Said funds will be
<br />hcld by the Lender in a non-interest bearing escrow account for the purposes set forth above. If the amounts of these deposits are not sufficient to pay taxcs, asscssments
<br />and insurance premiums as they become due, then Borrower shall upon request, pay Lender the amount necessary to make up the deficiency.
<br />5. Borrower agrees that unless the Lender, in its sole discretion elects a diffcring allocation, or unless applicable law provides otherwise, that all payments
<br />rel'eived by Lender shall be applied in the following manner and order: a) reasonable costs and fccs including Trustee's fees and attorney fees incurred in exercising the
<br />power of sale, b) interest and principal on funds advanced to preserve, protect or maintain the property or to pay insurance premiums, taxes, assessments, prior liens or
<br />pursuant to any of the terms of this Trust Deed, c) interest on the Note, d) principal of the Note, and e) interest and principal on any other future advances or other
<br />indebtedness secured hereby.
<br />6. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property. Borrower shall keep and
<br />maintain the Property and conduct any construction thereon, all in compliance with all governmental laws, ordinances and regulatory requiremcnts including but not limited
<br />to, zoning regulations, building codes, environmental laws and the provisions of the American with Disabilities Act (ADA), all as now in existence or as hereafter amended
<br />or enacted, Borrower shall immediately advise Lender in writing of any actual or threatened action or proceeding to enforce any such law, ordinance, regulation or
<br />restriction against the Property or the Borrower. Borrower shall be solely responsible for and indemnify and hold Lender, its directors, officers, agents, successors and
<br />assigns from and against any and all loss, damage, costs, expense or liability arising out of or attributable to Borrower's failure or refusal to comply fully with the
<br />requirements hereof.
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