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<br /> f8pac� Abov�Thl� LI�• for R�cordlnp Data� •
<br /> FHA Cas• No.
<br /> State of Nebraska DEED OF TRUST 32�-1917968 703 —�
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<br /> THIS DEED OF TRUST ("Securky Instrument") is made on Mat'Ch 27th . 1998
<br /> The trustor is TERRY L FALKENA AND LAURA J FALKENA . HUSBAND AND WIFE.
<br /> �°BOROW9f"�.
<br /> The trustee Is UNITED NEBRASKA BANK 700 N WEBB ROAD GRAND ISLAND NEBRASKA 6 ("rn,stee^).
<br /> The benet�iary is UNITED NEBRASKA BANK ,
<br /> which is organized and existing under the lews of NEBRASKA , and whose address is
<br /> 700 N. WE88 RD. GRAND ISLAND. NE 68803 ("�ender^).
<br /> Bonower owes Lender the principal sum of Eis�hty Two Thousand Three Hundred and 00/100
<br /> Dollars (U.S. a 82.300.00 ). This debt is evidenced by Borrowers note
<br /> dated the same date as this Securky Instrument ("Note"), which provides for monthly payments, with the tull debt, if not paid
<br /> earlier, due and payable on Apt'il 1. 2028 . This Security Instrument secures to Lender: (a) the repayment
<br /> of the debt evidenced by the Note, wkh interest, and all renewels, extensions and modff�ations of the Note; (b) the payment of
<br /> all other sums, with interest, advanced under paragraph 6 to protect the security ot this SecurRy Instrument; and (c) the
<br /> performance of Borrower's covenants and agreements under this Security Instn.�ment and the Note. For this purpose, Borrower
<br /> irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property bcated in
<br /> HALL County; Nebraska:
<br /> LOT THIRTEEN (13), BLOCK THREE (3), OLDE MILL SUBDIVISION, GRAND ISLAND, HALL
<br /> COUNTY, NEBRASKA.
<br /> which has the address of 2507 MILL RIVER RD GRAND ISLAND
<br /> �8trset� �q�y)
<br /> NEBRASKA 68801 ("Property Address");
<br /> �Stats) �Zip Cods]
<br /> TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
<br /> f'octures now or hereaiter a part of the property. Ail replacements and additbns shaA be covered by this Security Instrum�t. All
<br /> of the foregoing is referred to h thfs Security Instrument 8s the "Property".
<br /> BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and
<br /> convey the Property and thet the Property is unencumbered, except for encumbrances of record. Borrower warrants and will
<br /> defend generally the title to the Property against all claims and demands, subj�t to any encumbrances of record.
<br /> THIS SECURITY INSTRUMENT combines un'rform covenants (or national use and non-uniform covenants with limked
<br /> variations by jurisdiction to constitute a uniform security instrument covering reai property,.
<br /> Borrower and Lender covenant and agree as follows:
<br /> UNIFORM COVENANTS.
<br /> 1. Payment of Principal, Interest and Late Charge. Borcower shall pay when due the principal of, and �nterest
<br /> on, the debt evidenced by the Note and lete charges due under the Note.
<br /> 2. Monthly Payment of Taxes, Insurance, and Other Charges. Borrower shall include in each monthly
<br /> payment, together with the principal and interest as set forth in the Note and any lete charges, a sum (or (a) taxes and special
<br /> assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c)
<br /> premiums for insurance required under Paragraph 4. In any year in which the Lender must pay a mortgage insurance premium to
<br /> the Secretary of Housing and Urban Development ("Secretary"), or fn any year in which such premium would have been requfred
<br /> ff Lender still held the Securky Instrument, each monthly payment shall also include ekher: (i) a sum for the annual mortgage
<br /> insurance premium to be paid by Lender to the Secretary, or (li) a monthly charge instead of a mortgage insurance premium it
<br /> this SecurRy Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the
<br /> monthly charge by the Secretary, these ftems ere called "Escrow Items" and the sums paid to Lender are called "Escrow
<br /> Funds."
<br /> F5813.LMa(1/98) Paps 1 of 5
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