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86 101774
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made this 11th day of AP ri 1
<br />l9 86 .,0"*:waT.Mw. PHILIP M. RARTIN. Sr, and JEANNINE M MARTIN Husband and wife
<br />91, is "90 '). AAENO R. SHACK, ATTOMNE1/ AT LAW
<br />pew+ tat "TnoK a %andtheBeneffdary, NOW PEDEIIAL UVlN= i LOAN ASOOCIATION OF QNAND ISLAND HE
<br />a cosoowtlao o►is>wisd and saiAgtg under the Inns of NgItASKA whose address is 221 SOUTH LOCUST, P. O. BOX 1088.
<br />fi AW10 (BLAND. NE OW (herein "Leader").
<br />BORROWER, in consideration of the indebtedness herein recited and the trust herein create!, irrevocably grants and conveys to Trustee,
<br />in trot. with Power of sak. the following described property located in the County of Hal 1
<br />Stale of Nebraska:
<br />LOTS FIVE (5) AND SIX (6) AND THE WEST SIX FEET (W6') OF LOT SEVEN (7) BLOCK TWELVE
<br />(12), ARNOLD AND ABBOTT'S ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />The Rider to the Deed of Trust which is attached hereto and executed on the same day
<br />is hereby incorporated into the mortgage. The Rider shall amend and supplement the
<br />covenants and agreements of this i1%rtgage as if the Rider was a part thereof.
<br />which has the address of_ 311 North Lincoln Grand Island
<br />(STREET) (CITY)
<br />Nebraska 68801 —(herein "Property Address ");
<br />(STATE R ZIP CODE)
<br />TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents
<br />(subject however to the rights and authorities given herein to Lender to collect and apply such rents), royalties, mineral, oil and gas rights and
<br />profits, water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replacements and
<br />additions thereto, shall be deemed to be and remain a part of the property covered by this Deed of Trust; and all of the foregoing, together with
<br />said property (or the Machold state if this Deed of Trust is on a leasehold) are herein referred to as the "Property ";
<br />TO SECURE to Leader (a) the repayment of the indebtedness evidenced by Borrower's note dated April 11 - 19186
<br />(herein "Note"), in the principal sum of ONE HUNDRED TWELVE THOUSAND A;:^ NO /100 - - - - -- �jars,
<br />with interest thereon, providing for monthly insiaWtents of principal and interest, with the balance of the indebtedness, if not sooner paid, due
<br />sad payabk on May 12 2001 ; the payment of all other sums,
<br />with interim thereon. advanced in accordance herewith to protect the security of this Deed of Trust; and the performance of the covenants and
<br />agree cents of Borrower herein contained; and (b) the repayment of any future advances, with interest thereon, made to Borrower by Leader
<br />pntrsnaat to paragraph 21 hereof (herein "Future Advances ").
<br />Borrower exsvemants that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property,
<br />that the Property is uneacumbered, and that Borrower will warrant and defend generally the title to the Property against all claims and
<br />demands, subject to any decleratiaaa, easements or restrictions listed in a schedule of exceptions to coverage in any title insurance policy
<br />ieewing Leader's interest in the Property.
<br />UNIFORM COVENANT'S. Borrower and Leader covenant and agree as fellows:
<br />1. ragmtuat of Film* d and —M• Borrower shall promptly try when due the principal of and interest on the indebtedness evidenced
<br />by the Note, prepayment and hue charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed
<br />of Trues.
<br />L Floods for Ter and howanee. Subject to applicable law or to a written waiver by Lender. Borrower shall pay to Lender on the day
<br />! bmtERNOW of pt'tedpd and inter are payabk under the Noe, until the Note is paid in full, a sum
<br />twdftlt of the Yearly team and awl which may attain priority over this Deed of Trust, and n the P "Ferris") any, p to one -
<br />grcwndrents on the Property. if any, plus cone
<br />twelfth of yarly prwuirm himaNwAsu for haaard insurance, plus one -twd th of yearly premium imtaliments for mortgage insurance. if any, all
<br />as reuoaabiy w awNd isidaily sad. from time to time by Leader on the basis of assessments and bilk and reasonable estimates thereof.
<br />The Fwds shall be held is an taaBation the deposits or accounts of which we insured or guaranteed by a Federal or state agency (including
<br />Leader I( Leader is writ an testitwkua). Leader than apply the Funds to pay said taxes, assessments. insurance premiums and ground rents.
<br />tmaler any not charge for so hnWi»g and the Funds. analyzing said amount a verifying aP'nYmt Y � and compiling said assessments and bills,
<br />amnia Lander pays Botrawer int hart on the Funds and applicable law permits Lender to make such a charge.
<br />writing w the Gee of execution of this Dotter! of Tnut that interest on the Fronds shall be Borrower and Lender may egret in
<br />paid to t3orrawer, and unless sucb agreement is made or
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