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DEED OF TRUST
<br />11th
<br />syof July
<br />m recited and the trust herein crated, irrevocably grants and conveys to Trustee,
<br />cited in the County of _ HALL
<br />State of Nebraska:
<br />LOT TWO (2), IN BLOCK ONE (1), IN WESTERHOFFtS SECOND SUBDIVISION, BEING A RESUB-
<br />DIVISION OF THE SOUTH HALF OF BLOCKS THREE (3) AND FOUR (4) AND THE NORTH HALF
<br />OF BLOCKS FIVE (5), AND SIX (6), WESTERHOFFtS FIRST SUBDIVISION IN THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA.
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<br />which has the address of 3224 W. 17th Grand Tslnnd
<br />(STREET) (CITY) —
<br />Nebraska 68803 (herein "Property Address');
<br />(STATE dt 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 tights and authorities given herein to Lauder to collect and apply such rents), royalties, mineral, oil and gar 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 put of the property covered by this Deed of Trust; and all of the foregoing, together with
<br />said property (a the leasehold estate if this Deed of Trust is on a leasehold) are herein referred to as the "Property ";
<br />TO SECURE to Lender (a) the repayment of the indebtedness evidenced bY Borrower's note dated July 14, 1986
<br />(herein "Note"), in the principal sum of FORTY THOUSAND AND NO /10U -----------
<br />- - - - -- ---- - - - - -- Dollars,
<br />with interest thereon, providing for monthly installments of principal and interest, with the balance of the indebtedness, if not sooner paid, due
<br />and payable on August 1, 2001 _; the payment of all other sums,
<br />with interest thereon, advanced in accordance herewith to protect the security of this Deed of Trust; and the performance of the covenants and
<br />agreements of Borrower herein contained; and (b) the repayment of any future advances, with interest thereon, made to Borrower by Lender
<br />pursuant to paragraph 21 hereof (herein "Future Advances').
<br />Borrower covenants 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 unencumbered. and that Borrower will warrant and defend generally the title to the Property against all claims and
<br />demands, subject to any declarations, easements or restrictions listed in a schedule of exceptions to coverage in any title insurance policy
<br />insuring Lender's interest in the Property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />L. Psymato of Priatignl ud Isamu. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced
<br />by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed
<br />of Trust.
<br />S. Fauna for Tom act banrasm. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day
<br />monthly instaHam" of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds') equal to one-
<br />twelfth of the yearly ta+ta and askuments which may attain priority over this Deed of Trust, and ground rents on the Property, if any, plus one -
<br />twelfth of yearly premium instalments for hoard insurance, plus one - twelfth of yearly premium installments for mortgage insurance, if any, all
<br />at reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency tincluding
<br />Leader if Lender is such an institution). Lender shalt apply the Funds to pay said taxes, assessments. insurance premiums and ground rents.
<br />L Land may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments aril bills,
<br />unless Lander pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Wwrowor and Lender may agree in
<br />writing at the time of execution of this Deed of Trust that interest on the Funds %hull be paid to iknrowcr, and unless such agreement is made or
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