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<br />DEED OF TRUST
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<br />CHATTEL MORTGAGE
<br />THIS DEED �F TRUST ("Security Instrument") is made on November 5, 2010. The grantors are LARRY K
<br />FROST and VICKY L FROST, HUSBAND AND WIFE, whose address is 56 KUE$TER LAKE, GRAND
<br />ISLAND, Nebraska b8801-$609 ("Sorrower"). Borrower is not necessarily the same as the Person or Persons who
<br />sign the Note. The obligations of $orrowers who did not sign the Note are explained further in the section titled
<br />Snccessors and Assigns Bound; Joint and Several Liability; Accommodatiou Signers. The trustee is Arend
<br />R. Baack, Attorney whose address is P.O. Bax 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 Locnst Street, Grand Island, Nebraska 68801
<br />("Lender"). LARRY K FROST and VICKY L FROST owe T.ender the principal sum of Twenty-two
<br />Thousand Ninety-six and 66/100 Dollars (U.S. $22,096.66), which is evidenced by the note, consumer loan
<br />agreement, or similar writing dated the same date as this S�curity Instrurnent (the "Note"), which provides far
<br />periodic payments ("Periodic Payments"), with the full debt, if not paid earlier, due and payable on Novernber
<br />10, 2019. This Security Instrument secures to L.ender: (a) the repayrnent of the debt evidenced by the Note, with
<br />interest, and all renewals, extensions and modi�cations of the Nate; (b) the payment of all other sums, with
<br />intcrest, 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 COLTNTY of HALL, State of Nebraska:
<br />Address: Sb KUESTER LAKE, GRAND ISLAND, Nebraska b8801-8609
<br />Legal Description: Lot One (1), having a lakefront footage of Two Hundred Forty (Z40) feet situated
<br />on the East side of the West portion of Kuester Lake and being a part of the East Half of the
<br />Southwest Quarter (El/2SW1/4) in 5ection thirteen (13), Township Eleven (11) Narth, Range NYne
<br />(9), West of the 6th P.M., Hall County, Nebraska, commonly know as Kuester Lake #56, Hall County,
<br />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 />cavered by this 5ecurity Instrument. All af 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 canveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except far encumbrances of r�cord.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject ta
<br />any encumbrances of record.
<br />Borrower and I.,ender 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 Instiument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and admi.nistrative rules and arders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />Funds for Taxes and Insurance. At I,ender's request and subject to Applicable Law, $orrower shall pay to
<br />Lender on the day periadic payments are due under the Note, until the Note is paid in full, a sum ("Funds") for: (a)
<br />yeau'ly ta�ces and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)
<br />yeaxly leasehold payments or ground rents on the Prop�rty, if any; (c) yearly hazard or property insurance
<br />premiums; (d) yearly flood insurance premiums, if any; (e) yearly xnortgage insurance premiums, if any; and (�
<br />any sums payable by Borrower to Lender, in accordance with the provisions of the paragraph titled Mortgage
<br />Insuranee, 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 amaunt a lender far a
<br />federally related mortgage loan may require for Sorrower's escrow account under the federal Real �state
<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 />� 2004-2009 Camplimce Systems, Inc. 002b-46E1 - 2009.12.366
<br />Consutner Real Estate - Security Instrumeut DL2036 Paga 1 oF6 www.complimcesystems.cpm
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