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<br />LOAN NUMBER: 0100609775
<br />DEED OF TRUST
<br />THIS DEED OF TRUST ( "Security Instrument ") is made on May 18, 2009. The grantor is MICHAEL R
<br />NICHOLS and LAJEAN M NICHOLS, HUSBAND AND WIFE, whose address is 2503 PARKVIEW DR,
<br />Grand Island, Nebraska 68801 ( "Borrower "). Borrower is not necessarily the same as the Person or Persons who
<br />sign the Note. The obligations of Borrowers who did not sign the Note are explained further in the section titled
<br />Successors and Assigns Bound; Joint and Several Liability; Accommodation Signers. The trustee is Arend
<br />R. Baaek, Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ( "Trustee "). The beneficiary
<br />is Home Federal Savings & Loan Association of Grand Island, which is organized and existing under the laws
<br />of the United States of America and whose address is 221 South Locust Street, Grand Island, Nebraska 68801
<br />( "Lender "). MICHAEL R NICHOLS and LAJEAN M NICHOLS owe Lender the principal sum of Fourteen
<br />Thousand Four Hundred Twenty -one and 50 /100 Dollars (U.S. $14,421.50), which is evidenced by the note,
<br />consumer loan agreement, or similar writing dated the same date as this Security Instrument (the "Note "), which
<br />provides for periodic payments ( "Periodic Payments "), with the full debt, if not paid earlier, due and payable on
<br />June 10, 2011. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note,
<br />with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with
<br />interest, advanced to protect the security of this Security Instrument under the provisions of the section titled
<br />Protection of Lender's Rights In the Property; and (c) the performance of Borrower's covenants and agreements
<br />under this Security Instrument and the Note. For this purpose, Borrower, in consideration of the debt and the trust
<br />herein created, irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described
<br />property located in the COUNTY of HALL, state of Nebraska:
<br />Address: 2503 PARKVIEW DR, Grand Island, Nebraska 68801
<br />Legal Description: LOT TWENTY- SEVEN(27), MORNINGSIDE ACRES SUBDIVISION, IN THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<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 />BORROWER COVENANTS that Borrower is lawfl►lly 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 />Secured Indebtedness. The debt evidenced by the Note and which is secured by this Security Instrument is
<br />subject to the provisions of 12 CFR 226.32. Borrower acknowledges that Borrower has received the disclosures
<br />prescribed by 12 CFR 226.32 at least three business days prior to the execution of the Note and this Security
<br />Instrument, or as otherwise required by 12 CFR 226.31. Borrower and Lender further acknowledge and agree that
<br />this Security Instrument will secure additional debt subject to 12 CFR 226.32 only if Lender satisfies the necessary
<br />requirements imposed on such debt imposed by 12 CFR 226.32 and Applicable Law.
<br />Borrower and Lender covenant and agree as follows:
<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 />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 />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 the Note is paid in fiill, a sum ( "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 />(D 2004 -2008 Copyright Compliance Systems, Inc. 74ED -0016 - 2008.10.289 www.comp8ancesystens.com
<br />Consumer Real Estate - security Instrument DL2036 Page 1 of 6 800. 968 -8522 - Fax 616 -956 -1868
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<br />(Space Above This Line For Recording Data)
<br />LOAN NUMBER: 0100609775
<br />DEED OF TRUST
<br />THIS DEED OF TRUST ( "Security Instrument ") is made on May 18, 2009. The grantor is MICHAEL R
<br />NICHOLS and LAJEAN M NICHOLS, HUSBAND AND WIFE, whose address is 2503 PARKVIEW DR,
<br />Grand Island, Nebraska 68801 ( "Borrower "). Borrower is not necessarily the same as the Person or Persons who
<br />sign the Note. The obligations of Borrowers who did not sign the Note are explained further in the section titled
<br />Successors and Assigns Bound; Joint and Several Liability; Accommodation Signers. The trustee is Arend
<br />R. Baaek, Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ( "Trustee "). The beneficiary
<br />is Home Federal Savings & Loan Association of Grand Island, which is organized and existing under the laws
<br />of the United States of America and whose address is 221 South Locust Street, Grand Island, Nebraska 68801
<br />( "Lender "). MICHAEL R NICHOLS and LAJEAN M NICHOLS owe Lender the principal sum of Fourteen
<br />Thousand Four Hundred Twenty -one and 50 /100 Dollars (U.S. $14,421.50), which is evidenced by the note,
<br />consumer loan agreement, or similar writing dated the same date as this Security Instrument (the "Note "), which
<br />provides for periodic payments ( "Periodic Payments "), with the full debt, if not paid earlier, due and payable on
<br />June 10, 2011. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note,
<br />with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with
<br />interest, advanced to protect the security of this Security Instrument under the provisions of the section titled
<br />Protection of Lender's Rights In the Property; and (c) the performance of Borrower's covenants and agreements
<br />under this Security Instrument and the Note. For this purpose, Borrower, in consideration of the debt and the trust
<br />herein created, irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described
<br />property located in the COUNTY of HALL, state of Nebraska:
<br />Address: 2503 PARKVIEW DR, Grand Island, Nebraska 68801
<br />Legal Description: LOT TWENTY- SEVEN(27), MORNINGSIDE ACRES SUBDIVISION, IN THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<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 />BORROWER COVENANTS that Borrower is lawfl►lly 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 />Secured Indebtedness. The debt evidenced by the Note and which is secured by this Security Instrument is
<br />subject to the provisions of 12 CFR 226.32. Borrower acknowledges that Borrower has received the disclosures
<br />prescribed by 12 CFR 226.32 at least three business days prior to the execution of the Note and this Security
<br />Instrument, or as otherwise required by 12 CFR 226.31. Borrower and Lender further acknowledge and agree that
<br />this Security Instrument will secure additional debt subject to 12 CFR 226.32 only if Lender satisfies the necessary
<br />requirements imposed on such debt imposed by 12 CFR 226.32 and Applicable Law.
<br />Borrower and Lender covenant and agree as follows:
<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 />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 />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 the Note is paid in fiill, a sum ( "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 />(D 2004 -2008 Copyright Compliance Systems, Inc. 74ED -0016 - 2008.10.289 www.comp8ancesystens.com
<br />Consumer Real Estate - security Instrument DL2036 Page 1 of 6 800. 968 -8522 - Fax 616 -956 -1868
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