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<br />200808764
<br />
<br />30.50
<br />
<br />(Space Above This Line For Recording Data)
<br />
<br />LOAN NUMBER: 9727
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST ("Security Instrument") is made on October 2, 2008. The grantor is John J. Schroll and
<br />Carolyn M. Schroll, husband and wife, whose address is 2620 Shady Bend Rd, Grand Island, Nebraska 68801
<br />("Borrower"), Borrower is not necessarily the same as the Person or Persons who sign the Note. The obligations of
<br />Borrowers who did not sign the Note are explained further in the section titled Successors and Assigns Bound;
<br />Joint and Several Liability; Accommodation Signers. The trustee is Pathway Bank whose address is PO Box
<br />428, Cairo, Nebraska 68824 ("Trustee"), The beneficiary is Pathway Bank, which is organized and existing under
<br />the laws of the State of Nebraska and whose address is POBox 428, Cairo, Nebraska 68824 ("Lender"), John J.
<br />Schroll and Carolyn M. Schroll owe Lender the principal sum of Two Hundred Fifty-five Thousand Eighty-
<br />four and 58/100 Dollars (U.S. $255,084.58), which is evidenced by the note, consumer loan agreement, or similar
<br />writing dated the same date as this Security Instrument (the "Note"), which provides for periodic payments
<br />("Periodic Payments"), with the full debt, if not paid earlier, due and payable on October 8, 2013, This Security
<br />Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals,
<br />extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced to protect the
<br />security of this Security Instrument under the provisions of the section titled Protection of Lender's Rights in the
<br />Property; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the
<br />Note, For this purpose, Borrower, in consideration of the debt and the trust herein created, irrevocably grants and
<br />conveys to Trustee, in trust, with power of sale, the following described property located in the County of Hall,
<br />State of Nebraska:
<br />
<br />Address: 2620 Shady Bend Rd, Grand Island, Nebraska 68801
<br />Legal Description: Lot One (1), Obermeier Subdivision an Addition of the City of Grand Island, Hall
<br />County, Nebraska.
<br />
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the
<br />"Property,"
<br />
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record,
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to
<br />any encumbrances of record,
<br />
<br />Borrower and Lender covenant and agree as follows:
<br />
<br />Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<br />principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the
<br />Note,
<br />
<br />Applicable Law. As used in this Security Instrument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />
<br />Funds for Taxes and Insurance. At Lender's request and subject to Applicable Law, Borrower shall pay to
<br />Lender on the day periodic payments are due under the Note, until thl~ Note is paid in full, a Sillll ("Funds") for: (a)
<br />yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)
<br />yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property insurance
<br />premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (f)
<br />any sums payable by Borrower to Lender, in accordance with the provisions of the paragraph titled Mortgage
<br />Insurance, in lieu of the payment of mortgage insurance premiums, These items are called "Escrow Items,"
<br />Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a
<br />federally related mortgage loan may require for Borrower's escrow account under the federal Real Estate
<br />Settlement Procedures Act of 1974 as amended from time to time, 12 U,S,c. Section 2601 et seq. ("RESPA"),
<br />unless another Applicable Law that applies to the Funds sets a lesser amount. If so, Lender may, at any time,
<br />collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amount of Funds
<br />02004-2007 Copyright Compliance Systems, Inc. 294j.2E4F. 2007,07,230 www.compliancesy..ems.com
<br />Iconsumer Real Estate - Security Instrument DL2036 Pa.ge I of6 800-968-8522. Fa.x 616.956.186811
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