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<br />DEED OF TRUST
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<br />
<br />DEFINITIONS
<br />
<br />Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18,20 and 21.
<br />Certain rules regarding the usage of words used in this document are also provided in Section 16.
<br />
<br />(A) "Security Instrument" means this document, which is dated 0 C T 0 B E R 3, 2 0 0 8 , together with all Riders to this
<br />document.
<br />
<br />(B) "Borrower" is
<br />
<br />KEITH P ESPELAND AND JODI A ESPELAND. AS HUSBAND AND WIFE
<br />
<br />(C) "lender" is
<br />[ 0 R P 0 RAT ION
<br />NERRASKA
<br />
<br />P L A T TE
<br />
<br />. Borrower IS the trustor under thiS Security Instrument.
<br />V ALL E Y S TAT E BAN K & T R U S TeD Lender is a
<br />organized and existing under the laws of THF STATE OF
<br />Lender's address is ???3 SECOND AVF KFARNFY NE 68847
<br />. Lender is the beneficiary under
<br />
<br />thiS Secunty Instrument.
<br />
<br />(D) "Trustee" is FIR S T N A T ION A L BAN K 0 F 0 M A H A
<br />1 620 D DOG F S T R E E T S TOP 8 1 33. 0 M A H A N F 681 9 7 - R 1 3 3
<br />
<br />-
<br />(E) "Note" means the promissory note signed by Borrower and dated 0 C T 0 B E R 3, 2008
<br />Borrower owes Lender N I N E T Y S I X THO USA N 0 AND NO/ 1 0 0
<br />Dollars (U.S. $ 9 6 . 0 0 0 . 0 0
<br />Borrower has promised to pay thiS debt in regular Penodlc Payments and to pay the debt in full not later than
<br />NOVEMRFR 1 ?038
<br />(F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property,"
<br />
<br />(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and
<br />all sums due under this Security Instrument, plus interest.
<br />
<br />(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by
<br />Borrower [check box as applicable]:
<br />
<br />o Adjustable Rate Rider 0 Condominium Rider 0 Second Home Rider
<br />
<br />o Balloon Rider 0 Planned Unit Development Rider 0 Other(s) [specify]
<br />
<br />01-4 Family Rider 0 Biweekly Payment Rider
<br />
<br />The Note states that
<br />
<br />plus interest
<br />
<br />(I) "Applicable law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative
<br />rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />
<br />(J) "Community Association Dues, Fees and Assessments" means all dues, fees, assessments and other charges that are
<br />imposed on Borrower or the Property by a condominium association, homeowners association or similar organization
<br />
<br />(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper
<br />instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order,
<br />instruct, or authorize a financial institution to debit or credit an account Such term includes, but is not limited to, point-of-sale
<br />transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouso
<br />transfers.
<br />(L) "Escrow Items" means those items that are described in Section 3.
<br />
<br />~M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party
<br />otner than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property;
<br />ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations
<br />of, or omissions as to, the value and/or condition of the Property.
<br />
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />
<br />(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any
<br />amounts under Section 3 of this Security Instrument.
<br />
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.s.C. @ 2601 et seq.) and its implementing regulation,
<br />~egulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or
<br />regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and
<br />restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify a:; a "federally rebted
<br />mortgage loan" under RESPA
<br />
<br />(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has
<br />assumed Borrower's obligations under the Note and/or this Security Instr ,
<br />
<br />AFTER RECORDING RETURN TO:
<br />PLATTE VALLEY STATE BANK & TRUST CO
<br />MORTGAGE LOAN DEPARTMENT
<br />2 2 2 3 SEe 0 N 0 A V E
<br />K EAR N E Y. N E 6 8 847
<br />
<br />
<br />~
<br />
<br />NEBRASKA-Sinsle F"mlly-Fannle MaelFraddia Mac UNIFORM INSTRUMENT
<br />3028 NE DOT 1/01 PGl
<br />
<br />Farm 3028 1/01 (p"ge 1 at 7 pages)
<br />
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