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<br />DEED OF TRUST
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<br />88- 104543
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<br />THIS Qti.ED OF TRUST (MSecunlJ lnstrumenli 19 made on Ihis 12th day or August
<br />19~.T11elru.lOr;' Sherman O. Smith and Susan R. Smith husband and wife
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<br />("Borrower"). The lrustee is Commercial Federal Savings and Loan AsaociBoon.
<br />{"TrustM1. The beneficiary II Commerdej Federal SavlIlgs and Loan Auocidon, wtUch Is Ofganilect and 8.isting und81lhe laws 01 Nebraska, and whoM address Is 4460 Farnam. Omaha.
<br />Nobraslla6813, ("t.oOO<<'). El<ln.-r........-".. pclndpal """,0/ Twentv eioht thousand seventy one doll ars and Nor100--- 0011...
<br />(U.s. S 28,071.00 ). Thlo debt.. _ by Borlowo<'! nolo dalod the...... _ as"Is Securily Instrument ("NoI.), whJcli provid" for monthly _IS. wllh th.
<br />lull_,Wnetpa/d_.........and~on 8/17/1996
<br />ThIa s.cunty Instr'lJmenllIl:UI'N to Lender: Ca) 1M ~ 01 the debt evidenced by the Note. with intBntSt. and 811 renewals. euensiorts and modificatkwl; (b) the payment of all other
<br />1LImI. with "'*'-I. ~ ...... paragraph 7 to protecllhe secunty at Itlis s.curlty InstrurnIim; and (CI me performance or Borrower'I cownants and agreements. For thla purpoa,
<br />Borrower j~ grwlII..:i COCMYIIO Trust.., 111 trusl. with power 01 sR. the toBowing dnaibed property located in Ha 11 County, Nebraska'
<br />Lot Sixteen (16) Block Three (3) Normandy Estates, an Addition to the City of
<br />Grand Island, Hall County, NE.
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<br />Nollr....
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<br />68803
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<br />1508 Newcastle Rd
<br />15trMIJ
<br />(~Proplfty Ack:tre..,.
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<br />Grand Island
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<br />whICh han In. <<IdrnI of
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<br />IOly)
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<br />L
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<br />TOGETHER Mth.. 1M ~ now or ~ .-.cted on lhe ~, and .n ..HfMnll nom.. appu"enanceI, ranta, royaIUes. msnefll. 0.1 and gu nghts .and proflts. watt!,
<br />rightI and ItlX* and all bturwlnow or ,.,..n... . pan at thII pn::IC:IefTy .... replacemenls W'Id IIddIhonl shIIll alsO be ~..-.d by thll Securiry Instrument AI of Ihl1orwoo.ng II refined to an
<br />!hll Becurtty Instrument .. the "Pn:lpM1v"
<br />BORROWER COVeNANTS that ~ IS '-'futv ,*Nd of rhe "WI! ~ ~ and "I' "'" nghtlo granl Ind eon...., lhe Property and om the Proper1y .s unencumberecJ
<br />uclPl tor IIf1CUmbrancn of..cord 8ofrowIf WII"8nt1 ~ MIl Oefend generaity fhIIl1tte to the Property ~ _II duns .,., demands. lIubfK1lo any enc:urntnnca of rwcora
<br />THIS SECUArTY INSTRUMENT ~ urvl'orm oownantI few nallOMl UN .-nd non-undorm ClMtnanll wtth IImIIId ...anatJotls bV Juns.dleOOn to constltla a undonn secunty IIlStrument
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<br />UNtFOAM COVENANT!J. Borfoww Md t.MW ~ and agfN U IoIawa
<br />., ........... of IIrtncIpeI MIl.....: ~ MIl U. ChIrgM. Borrower Ihai pmmpClr P-r ..hen au. the pranopa! of and Inl.,.11 on ma oeDI evtdIncec:l by the NoM I1\d any
<br />_ond...._duo..-..._
<br />2. PundlIor,.. MIl IMunnOe. SubtCt 10 ~ '- or 10 a wrtnen ..,..., by L.ooet BortoMt maD ~ to lMIOet on IhI day monft'ity paymenll ... duI under the NoIe. until
<br />ttw Nc* .. _ An full, .. JUm (-Fundi' equal to ~ d' II' vurtt IaIH 1M ~ ~ ~,1IaIn pnonty 0':lWl' INI Secunly Instrument. fb) yHI1y fuMhokI ~1I or
<br />ground rwntI an the Prupwty, "any; (el )'MItv halaId INUJIla ptWl"IIUmI. and (dl ~ mor1QaQI"'lIUf--=- prwrnum.. II Iny Thne 11""1 ..,. caMId ".1CnM' rtemI " Lender ~ estmatfl
<br />tM FlJIWII due on tN bH6I 01 cunMt dIU end MHOnIDII..".... fA IutIn HClOW fIemI
<br />ThIi Fundi'" bII hIId In.,.......... b dIpoMI or 8DCCU1tI of whCtI ..1nIUrWCI or guwll1tMd Dy I IIIlIIrIl Of ... egency (1tlCSuCIlng LIoder d Lender IIIUCh an IMUIutlon) Leodel
<br />-1IlllIl'''' F_"pay... _ _ ~ _ net _ tor t-.g end _... 'undO. onoIVrrng'" oaxlUnt or ..ntyono... _ _....... Londol' PI\'I Borrow,,,
<br />ImlfMl on 1M F..... Md 1fCIPIk:iIblI.... permiII ~ M)"'" IUCtl I CI'\ItVI ~ Ind L."... mer... In wrlIlng rhalln1etM1lh111 be pMi on the Fundi. UnIiIU In ~ IS
<br />rNde or ~ .. NqUiw ~ to be ~Id, L....w thIII norr t. ~ 10 ~ 8om:JwIlr In't ."......, Dl' .am:ng, on the Furm. landi, ahall or.... L:I BoltoWlt', Without ctwge. 1111
<br />ennuaIlCCOUnting d.. Fundllhawtng aMIII MCI CIIDlII to rtIe Funo. and "" putSIOIIIlof whCtI Nth dlblllo the Fundi. ... medI. ThI Fundi .,. pItdged .. additional HCUntV 'Of 'hi!
<br />...... - by"'lloalrlIy--
<br />"1M M"iCIU'M of the Fundi held by Lender, ...... wtIh tM tulln monIhIy ~ Of Fundi ~ pnot to tM due oates of the escrow Itema, ahaII ~ the amount rwqund to pey
<br />the ftCfOW itemI whirl dull, the .lIOn. anlll! bII. .ISOn'oMr'. optiOn, etItMM' prornptty repeKJ to EIor1'oMf or ~ to 80f'r'0._ on monthly paymenta of Fundi tt the amount of the Funds
<br />held by LencieI' .. not IUtftcIInt 10 ~ the QO'OW IteI'nI when dUll. ~ &hell pay 10 Le>ndef any amount f'lKelaaty 10 m... up the 0II'1OInC'y In 0f\eI or more pevmentlU I"IQUqcJ by
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<br />Upon peymenr In run of "1UtnI MCU'" by m,. ~tttv Instrumwll. L8nder "'III protl"IpIty refund 10 ~ Iny Fundi hek:I by Lende!' If under Dar-or.lPh 19 the property II SOld or
<br />KlqUftcI by Undw, L.Ine*..... liPPY, no"'" IMn wnmec:IlaIe4)' prlDI' to m..... of h PICI*IV or ltIlICQUlaIIon by L.endIt. any Fundi he6d by l..enc>>r It rhllJme ot eppIatlOn.. a ~ll
<br />~ ... .... _ by ... SocunIy 1noIru"*,,
<br />3, AppIIaIIIDn 01 ......... UnIHI ~ 1M ptOVIdH oUwwI... .. ~ l"IlCef\IWd by Lender unOIt' PafWill'ICJh' t anc:J 2 s.haII be appI6ed 'I~. to Iale charge, Clu. ul'lOef the
<br />NcQ; MDOnd. 10 _ ctwvM 00. under the NDI8, Itwl:l. 10 amountJ PI"" under p.~ 2: tourth, 10 Inl.,..1 OUII anc:J 1Ut. 10 pnncJC)ll ClutI
<br />4. ctwvMl UInL fklnowa.r IhaI JWi aM tun. .....amenls. Chatgn. I'InII and II1'IpOelIIOnI InnbuIabIe 10 me Ploperty wnctl may Ift8In pnonty over Ihll Secunty Instrument. ana
<br />IuMhok2 peymenII Of QtOUI1d rentI. II any Bonowet thaII pay theM ~a .n the m&nneI' pt'O'V1ded In pafQ"apn 2. 0' II not paid In thl1 manner. 8c:lrtcMef thatl P8V lhem on t.me CJiractty
<br />10 the ~ lJWIld payment. BofrowlJr IhaII ~ futT'lllh 10 L.ndef .. nooe.. of emountl to be pP:I under 1M par-orllPh I' &rrow.r makft D'1eH paymentJ CJi~. Borrower ahall
<br />--"~.-.pIO-.crng"'_.
<br />BorrawrIf IhaII ptOmpIIy dIKhIfge any hen WhICt1 hU pnonty OYer thtl Secunty Insuumem un"'l Bonower (a, ~." WIltIng 10 the ~ Of !nil ODIlQauon MC:Ur'ed by lhe lien In a
<br />.,...,.,., ~ 10 Lender. lbl conInII In good tMtl me liIn by. or oer.ndl .gIInIl enlol'c..rnenl 01 the hen lt1, '-OaI ~. ",t\lch ." the Let'IdlIr', openaon operl1e 10 J)rhenI me
<br />~ of the lien or IoI'IetIln or anv ~ of tM Property; or Ie) Ma.WW from the I'dder of IhIIllen lIn aomernen' pt..factrwy to LanOef luOordlnaung IhIt b4tn to Ihrl Sec:unly Instrumenl
<br />If Lender detenrnnee thai any perl of the Property I' SUbf4td 10 a hen whch may .1Wn pnonty 0....- 11\1. SecuntV InSUUment. Lender may grve ~ . nobce OIInllfymg me h.n Borrower
<br />IhaM IaIlltv the .." or take one or men or the acbonJ ... IOrth abc:JW Wlthln 10 dIrfI of lhI giVIng of notJce
<br />S. Ha8rd.......... 8orrowltt IhIII keep the ~. now f11111Jng or ~ MKI<<I on If'- Property IllSU~ ~Illou by lIre. h&Zan2llncluCJed within lhe linn -lxt_naflO
<br />~. encI any otheI' hlZlrdllof which LencIII' ~ 111lllJt&l'lC8 1'htt ~ ~ ~ mllntalned In n. amounts IInd for the penodIlhat LandI, reQUI,," The Insurance cartier
<br />proyidIng IhI insurance JhaI tM ChOIen by eonow.t' IUbjeCf to L.endef'. appfO"1Ml whlch shall not tM urvN.IDf'IabIy WIthhe6d
<br />AM lrwurance poIIdn and ~ ahIlI ~ acoepc.KlIIlO I.lIrOIt and IhIlIItlICUCiI I ~ ~ dauM. LAnder Ihall "... 1M ngnIlO hold m. poIcsft and nPMWaII tf Lena"r
<br />,....,1tU. 9onuWIIr....1I prompIty gMIlO lM1der .. ~ of paid pt8tnlUmI, and ~ notICeS In IN ~I 01 IOU. BDtro...... Shill grve prompt no!U to Il\t Inlufaou camer and L.enclel
<br />L.mer may m.u proof DlloIIIll not nWiI ~ by BcJrroww
<br />UnIn& Lender ;and ~ othefwtIII ... in Wf'IIin;:, InIUrance prDClMds It.all 1M eppIled to rel1orallOl1 or repIIlI ot (he Property damaged. If IhIi rnwrauon or f1IPAII' IS economICally
<br />~ end LIndIt'IIICUrity .. not ~. If thI rwtorabDn Of' rwpIH II not ec:ononucally fHllble or Lender', I8CUnty would 1M .....MeI. me InlU,ancl proceedl INJI be _tICS 10 Ihe
<br />IUrns IIeand by IhtI Secun1y IRIb'UmInt, wnetheI Of not thin clue, With any ..CQI paid to BotrotrtMr II ~ abandons the Property. or don not 101M' WIthln 30 dayJ a noIIC& from
<br />Lender IhI:Ithe inlutlnCl carrier hu oftetWICIlO HttIe . claim, IhII LendIf InIy coIId the IneurarICII ~. ~ mav UN the pIOC>>edS to .-.pall or rn10tll the PropIrty or to PlY sums
<br />MCUtIld by aa seamrv lneaument. wnMhIr 01' not then due. The:JO.day period will begln when !hi notiCIls gIVeI'1.
<br />UnInI a..ndtc' end 80mJwIr DthIcwiM IgIW In writing, any appiCa.tIon of proc:MdI to pnnopal shall not .1Iend Of postpDnIIlhI dUe date or the monthly ~ ,.,."., 10 '" pareorapns
<br />1 end 2 01 chInge the amount of the~. It under ~ 191M Property II acquN'ed by Lender, Borrower's ngJ'lt to -nv lnSUranc. po/cMI. Ind proceedJ ralulllng from CJamage 10
<br />1hI PrDpert)' prIOt to 1tW ecquiIIIOn Ih8II pM& to Lenciet' 10 lhlI PI.,. of_ .",. MCU"" by fhlI Secuntv Instnrmenllmmedlalely prior 10 the acqt.nslllon
<br />L .................. ~of PrDs*tYl u..hoIda. Ek1rroMr 5haII not dHtrtry. dam. or IUOItInOaJly ehangIIlM PropIIny. allow !he Property to 08lenoratl or commll WIIsle
<br />" lNI StcuriIy Instrument iI on lHIehokt, Bomwter stWl comply wtIh the provtSlOl'IS 01 the INN. and II Bonower acqUn3 fee bue 10 !he PfOPfII'Iy. I~Uehold and lee 11I1. Shall nol merge
<br />uNIu LendDr..,...1o 1M merger In writing.
<br />7. ProMctIoft or ....... fUghta In 'the Property; IIortgage Irtaur1ance. II Botrowe' lails to perfonn the cownanll and ~reements COnlarneCJ In tthl SecunlY Instrument or Ih.re IS a
<br />~ pcooHdlng that may slgrllficanlty anK! lender's nghtsllOlt'Mt Property (such u a proc..cJlng In bankruptcy, probal.. lor condemnahon 01 10 enforce lawa or regulallonSI. Ihen Lender
<br />may do and Pwt for whaIe-..r lS nEI'IMfY 10 protect the ~ ollhe Properly Ind linder', nghts In UMt Property lende"s lICIlOns may IncluCle pllylng any sums securea by a lien wnlCh has
<br />pOonIy 0VIf U. Secutity I~ appHIing in coun. ~ reuonabIe altomeyl' INs and enlenng on the Property 10 make re~rs, Anhough LenCIel may take actIon under IhlS paragrapn
<br />7, L.Inder CION not hI'd 10 do 10.
<br />Atri amourttl diaburMd by lender under IhIS paregraph 7 shall becc::ltM additional debt or Borrower secul1!tCJ by thiS Secunty InSlrumenl Unle" Borrower and Lender agl"H 10 Olher I.rms
<br />of P8'i'Mftl. !heM ~ IhItI bell' InterHl from !hi dale 01 dilburHmentAt thII Note rale And shaJI bI payebIe. w.lh .nl....'1. upon notlC8 from I.ClneJer 10 Borrowel leQU.ltlng paymenl
<br />" L.mr ~ ~ InMwance as A conctlbon of making the loin IICUtIId by th.. Secunty Instrument, Borrower shall pay the pflllmluma reqUIred to mDmtaln 1M. ",sufance In f1"ecl
<br />untiIlUCt! time ..the l'IqUItwnenl for lhlImaulance tlf1'ftlnltn m accon:lance wtIh Bottowet's lInd Lenct.r'. wntIen agrlllmenl or appl~ law
<br />L ~ ~ or Ita 8gef'II mey maQ raaonabl. ltnlriM upon and lnspecbon, or lhe Property Lender shill give Borrower nollce al me lime 01 01 pnor 10 an InspectIon lpec:llylng
<br />__ COUI4I ""... ",->.
<br />.. COncIImnMIoft. The ~ 01 any IIWWd or claim tor damage.. direct or conuquentlal, In connoctlOO With any condemnallon or other laking ot any parI of th. Propert)'. or tor
<br />conveyance In II.eu 01 condemnaUon. .,.. hereby usiQned and shan be pajd to lend.,
<br />In Ihe hlnl of alolallalUng at the Property, rt'Ie proceedt shall 1M app/MKl1o the sums aecultKl by Ihl5 Securrly Inslrument whelher or IlOllhen due 'Nrtn Iln)' "IC.55 paId 10 BortOW81 I,.,
<br />t". ....,..t of a paItIaI taking 01 !he Property, unless Bor~ and Lender otherwlH agree In wnlln9 Ihe sums lleoJltKI b)' IMtl Secunl)' InsltUnlenl snail DfI I~uctld b.... rn" Rmount 01 !l'\tt
<br />~I mulUpltMl b1- the foIowll'lg l,lCtiOn_ (.11th. lotal amount ollhtr sums secured Immedlalety belore !he IBiung, dlVld.,a by Ibl Ihe talr mlllncel vOlult (lllhl! Propefl.., ,mmtKllalel.., boloro
<br />the taIdng. Any balance ahan bIJ pUj to Botrowe,
<br />"the Property lalbandoned by Botrowet. Of II aft., no~ b'J' Londer 10 Borrower IhallhO conaemnor on.'I 10 make an aWilrd Of IP!llill It ,.IRlm '01 (lltmltq"'~ Bo'm_r '1111110 fl!JSpond 10
<br />Lender within 30 o.ya al"r the d-'. ,,,. l'\Qbce I. glYlln. Landor,s lIUthorlZed 10 collecI and appty In" proceods .III 'Ill ophO'" Dllh", !oJ '"sIOfnl..)n ...., 'fIP'''' "f 1'1f! PrOI',"f.., 0' 'll tho ",um!\
<br />MCUred by tI'Ua Secunly lnaltu~nt. wh~ Of notl"'n dUll
<br />Unless ~r and BotrOMt Olherwl" ag....ln wntlng, any app\lCallon or prOCeedll .0 pllflClp.] shall noll,.tflncl 0' poslpone lhlt !]UP [1mOl -,I m.. morolh1t 0.1V",,,,,r, ,,,1"'''"(,1 'n ." IM'aQrOl[l"1
<br />I and 2 or Chat'lQl the amount ollluch paymenlJ
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<br />"""I'.f ','II'
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