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<br />DEED OF TRUST
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<br />THIS DEED OF TRUST ("Security Instrument") is made on October 2S, 2010. The grantors are STEVEN E
<br />ARNOLD and MARILYN ARNOLD, HUSBAND AND WIFE, whose address is 430 COMMANCHE AVE,
<br />GRAND I$LAND, Nebraska 68803-3$13 ("Borrower"). Borrower is not necessarily the same as the Persan or
<br />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 ia-Arend R. Baack, Attorney whose address is F.Q. �o� 794�-Grand I�land� Nebraska b88p2 ("Trustea").
<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"). STEVEN E ARNOLD and MARILYN AR.NOLD owe Lender the principal sum of
<br />Ten Thousand Elght Hundred ThIrty-nine and 45/100 Dollars (U.S. $10,839.45), which is evidenced by the
<br />note, consumer loan agreement, or similar writing dated the same date as this Security Instrument (the "Note"),
<br />which pravides for manthly payments ("Periodic Payments"), with tha full debt, if not paid earlier, due and
<br />payable on Octaber 2l, 2014. This Security Instrurnent secures to Lender: (a) the repayment of the debt evidenced
<br />by the Nate, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other
<br />sums, with interest, advanced to protect the security of this Security Instiument 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 sala, the following
<br />described properiy located in the COUNTY of HALL, State of Nebraska:
<br />Address: 430 COMMANCHE AVE, GRAND ISLAND, Nebraska 68803-3813
<br />Legal Description: LOT THIRTY-FOUR (34) OF BLOCK ONE (1) OF DALE ROUSH SECOND
<br />SUBDIVISION TO 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 af 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 Properiy 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 />Borrower and L.ender cavenant and agree as follows:
<br />Payment of Principal and Interest; Prepayrnent and Late Charges. Borrower shall promptly pay when due the
<br />principal of and interest on thc 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 full, a sum ("Funds") for: (a)
<br />yearly taxes and assessrnents which may attain priority over this Secusity Instrument as a lien on the Property; (b)
<br />yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard ar property insurance
<br />premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurarice premiums, if any; and ( fl
<br />any sums payable by Borrower to I,ender, in accordance with the provisians of the paragraph titled Mortgage
<br />Insuranee, in lieu of the payment of mortgage insurance premiums. 'I'hese items are called "Escrow Iterns."
<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.5.C. Section 2601 et saq. ("RESPA"),
<br />unless anather Applicable Law that applies to the Punds sets a lesser arnount. If so, Lender may, at any time,
<br />collect and hold Funds in an amount nat to exceed the lesser amount. I,ender may estimate the amount of Funds
<br />due on the basis of curtent data and reasonable estimates of expenditures af future Escrow Items or otherwise in
<br />accordance with Applicable Law.
<br />� 2004-2009 Compliance Systcros, Inc. 002D-366B - 2009.12.368
<br />Cansumer Real Estate - Security Instnunent DL2036 Pase I of 6 www.campliancesys[ems.com
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