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<br />(Space Above This I.,ine For Recording Data) ~~~ Sv
<br />LOAN NUMBER: 01.00610056 _ - -
<br />- - ' ~ DEED OF TRUST
<br />'T'HIS DEED OF TRUST ("Security Instrument") is made on July 21, 2009. The grantor is LYLE E [GARRE[,TS,
<br />HUSBAND AND WIFE, and DEBORAH L GARRELTS, HUSBAND AND WIFE, whose address is 2404 S
<br />AUGUST' ST, Grand Island, Nebraska 68801 ("Borrower"). Borrower is not necessarily the same as the Person
<br />or Persons who sign the Note. The obligations of Borrowers who did not sign the Note are explained further in the
<br />section titled Successors and. Assigns Bound; Joint and Several Liability; Accommodation Signers. The
<br />trustee is Arend R. Baack, Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ("Trustee").
<br />The beneficiary is Home Federal Savings & Loan Association of Grand Island, which is organized and existing
<br />under the laws of the United States of America and whose address is 221 South Locust Street, Grand Island,
<br />Nebraska 68801 ("Lender"). LYLE E GARRELTS and DEBORAH L GARRELTS owe Lender the principal
<br />sum of'I'wenty-five Thousand Nine Hundred Ten and 84/100 Dollars (U.S. $25,910.$4), which is evidenced by
<br />the note, consumer loan agreement, or similar writing dated the same date as this Security Instrument (the "Note"),
<br />which provides for monthly payments ("Periodic Payments"), with the full debt, if not paid earlier, due and
<br />payable on August 25, 201.2. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced
<br />by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all oilier
<br />sums, with interest, advanced to protect the security of this Security Instrument under the provisions of the section
<br />titled Protection of Lender's Rights in the Property; and (c) the performance of Borrower's covenants and
<br />agreements under this Security Instrument and the Note. For this purpose, Borrower, in consideration of the debt
<br />and the trust herein created, irrevocably grants and conveys to Trustee, in trust, with power of sale, the fallowing
<br />described property located in the COUNTY of HALL, State of Nebraska:
<br />Address: 2404 S AUGUST ST, Grand Island, Nebraska 68801
<br />Legal Description: LO'I" FIVE (5) BLOCK FIVE (5) IN COUNTRY CLUB SUBDIVISION BEING
<br />A PART OF THE EAST HALF OF THE NORTHWEST QUARTER (El/2 NW 1/4) OF SF,CTION
<br />TWENTY EIGHT (28) IN TOWNSHIP ELEVEN (11) NORTH, RANGE NINE (9) WEST OF TIIE
<br />6TH P.M., 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 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 />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, ar 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 1.2 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 iaterest..on the debt evidenced by the Nate 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 full, 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 />ftJ 2004-2009 Compliance Systems, Inc. 3578-CC65 - 2009.04.57
<br />(:onsumet Real Estate -Security Instrument D1.2036 Page l of 6 rnvw.compliancesystems.cnm
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