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<br /> I DEED OF TRUST WITH FUTURE ADVANCES
<br /> THIS DEED OF TRUST, is made as of the 14th day of Ap1"11 , 19 98 , by and amon�
<br /> theTrustor, Michael R. Sandman and Judee E. Sandman, husband and wife Q
<br /> ��
<br /> whose mailing address is 222 W. 7th St. , Grand I S1 dnd, NE 68801 (herein"Trustor",whether one or more), \�
<br /> the Trustee Fi ve Poi nts Bank, a Nebraska Corporati on
<br /> whose mailing address is P.0. Box 1507, Grand I sl and, NE 68802-1507 (herein"Trustee"), and
<br /> the Beneficiary, Fi ve Poi nts Bank
<br /> whose mailing address is P.O. Box 1507, Grand Isl and, NE 68802-1507 (herein"Lender").
<br /> FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to M1 Chd21 R. Sandman dtld
<br /> �����pe E Sandman, h�ishan� �n� W�fe
<br /> (herein "Borrower,"whether one or more) and the trust herein created, the receipt
<br /> of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br /> POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real
<br /> property described as follows:
<br /> The Northerly Forty-eight and One-Half (48�) Feet of Lot Five (5) , in Block
<br /> One Hundred Twenty-five (125) , in Union Pacific Railway Company' s Second Addition :
<br /> to the City of Grand Island, Hall County, Nebraska.
<br /> Together with all buildings, improvements,fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances
<br /> located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such per-
<br /> sonal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling equip-
<br /> ment; and together with the homestead or marital interests, if any,which interests are hereby released and waived; all of which, includ-
<br /> ing replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and
<br /> all of the foregoing being referred to herein as the"Property". :
<br /> This Deed of Trust shall secure(a)the payment of the principal sum and interest evidenced by a promissory note or credit agree-
<br /> ment dated g�,�j 1 1�� 1 Q9R , having a maturiry date of Apri 1 20� 2003
<br /> in the original principal amount of $ 7,670_50 , and any and all modifications, extensions and renewals
<br /> thereof or thereto and any and all future advances and readvances to Borrower(or any of them if more than one) hereunder pursuant
<br /> to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment of other sums advanced by Lender to :
<br /> protect the security of the Note; (c)the performance of all covenants and agreements of Trustor set forth herein; and (d)all present and
<br /> future indebtedness and obligations of Borrower(or any of them if more than one)to Lender whether direct, indirect, absolute or contin-
<br /> gent and whether arising by note, guaranty, overdraft or otherwise.The Note, this Deed of Trust and any and all other documents that
<br /> secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and
<br /> assignments of leases and rents,shall be referred to herein as the"Loan Instruments".
<br /> Trustor covenants and agrees with Lender as follows:
<br /> 1. Payment of Indebtedness.All indebtedness secured hereby shall be paid when due.
<br /> 2. Title.Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien creat-
<br /> ed hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to
<br /> Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or
<br /> other obligation to which Trustor is subject. :
<br /> 3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and al� other charges against the Property :
<br /> now or hereafter levied.
<br /> 4. Insurance. To keep the Rroperty insured against damage by fire, hazards included within the term "extended coverage", and
<br /> such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additional
<br /> named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br /> compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness
<br /> secured hereby and in such order as Lender may determine, (ii)to the Trustor to be used for the repair or restoration of the Property or
<br /> (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
<br /> hereby before such payment ever took place. Any applications of proceeds to indebtedness shall not extend or postpone the due date
<br /> of any payments under the Note, or cure any default thereunder or hereunder.
<br /> 5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br /> sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against
<br /> the Property, (ii) the premiums on the property insurance required hereunder,and (iii) the premiums on any mortgage insurance
<br /> required by Lender. :
<br /> 6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair, shall
<br /> promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deteriora- :
<br /> tion of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, suffer
<br /> or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly dis-
<br /> charge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or accessed against the Property or any
<br /> part thereof. :
<br /> 7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter :
<br /> NBC 3457(NOnagncultural Deed)Rev.5/96 �" � ' � : { ', _
<br /> �1988 Nalional Bank of CommerceTmst and Savings Associatioq Lincoln,Nebraska � � ' y ' _
<br />
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