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<br /> DEED OF TRUST
<br /> THIS DEED OF TRUST ("Security Instrument") is made on May 11, 2010. The grantors are TIMO'1'HY J
<br /> DETHLOFF and LAURIE A DETHLOFF, husband and wife, whose address is 4204 KAY AVE, GRAND
<br /> ISLAND, Nebraska 68803-141.9 ("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. Baack, Attorney whose address is P.U. Box 790, Grand Island, Nebraska 68802 ("'T'rustee"). 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"). TIMOTHY J DETHLUFF and LAURIE A DETHLOFF owe Lender the principal Burn of Two
<br /> Hundred Thirty Thousand One Hundred Twenty-eight and 00/100 Dollars (U.S. $230,128.00), which is
<br /> evidenced by the note, consumer loan agreement, or similar writing dated the same date as this Security Instrument
<br /> (the "Note"), which provides for monthly payments ("Periodic Payments"), with the full debt, if not paid earlier,
<br /> due and payable on November 7, 2010. This Security Instrument secures to Lender: (a) the repayment of the debt
<br /> evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment
<br /> of all other sums, with interest, advanced to protect the security of this Security instrument under the provisions of
<br /> the section titled Protection of Lender's Rights in the Property; and (c) the performance of Borrower's
<br /> covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower, in
<br /> consideration of the debt and the trust herein created, irrevocably grants and conveys to Trustee, in trust, with
<br /> power of sale, the following described property located in the COUNTY of HALL, State of Nebraska:
<br /> Address: 4204 KAY AVE, GRAND ISLAND, Nebraska 68803-1419
<br /> Legal Description: LOT UNE (1) IN LE HEIGHTS FOURTH SUBDIVISION, IN 'T'HE CITY OF
<br /> GRAND ISLAND, HALL COUNTY, NEBRASKA
<br /> 'T'OGETHER 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 ]2 CFR 226.32. Borrower acknowledges that Borrower has received the disclosures
<br />prescribed by 12 CFR 226.32 at least tlu-ee 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 furthex 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 l,~aw" 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 l..aw, 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 assesscuents 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 ( fl
<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 />¢~ 2004-2009 Compliance Systems, Inc. 002D-1781 - 2009.12368
<br />Consumer Real Estate -Security Instmment DL2036 Page 1 of 6 www.cnmpliancesyxtems.com
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