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<br /> C�s � DEED OF�' TRUST �
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<br /> � THIS DEED OF TRUST is made as of the �_ day of , 1998, by and
<br /> q among LANE B. LEISINGER, ("Trustor") , whose mailing ad ress is: 901 West 7th �
<br /> � Street, Grand Island, NE 68801; '
<br /> and ARTHUR C. MAYER, Attorney at Law, ("TRUSTEE") , whose mailing address is: ��
<br /> P. O. Box 2300, Grand Island, Nebraska 68802;
<br /> and YVONNE J. LEISINGER, an unremarried widow, (��BENEFICIARY") , whose mailing
<br /> address is: 911 W. 7th Street, Grand Island, Nebraska 68801.
<br /> FOR VALUABLE CONSIDERATION, Truetor irrevocably transfers, conveys, and
<br /> assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security
<br /> of Beneficiary, under and subject to the terms and conditions of this Deed of
<br /> Truat, the real property located in the County of Hall, State of Nebraska, and
<br /> legally described as followa: (the "Property") : :
<br /> Lot 1, Block 4, Rollins' Addition to Grand Island, Nebraska.
<br /> TOGETHER WITH all rents, easements, appurtenances, hereditaments, interests
<br /> in adjoining roads, streets and alleys, improvements and buildings of any kind
<br /> situated thereon and all personal property that may be or hereafter become an
<br /> integral part of such buildings and improvements.
<br /> The property and the entire estate and interest conveyed to the Trustee are
<br /> referred to collectively as the "Trust Estate".
<br /> FOR THE PURPOSE OF SECURING:
<br /> a. Payment of indebtedness in the total principal amount of $35,000.00
<br /> with interest thereon, as evidenced by that certain Promissory Note of even date
<br /> (the "Note") with a maturity date of _�,�, 4 ,�lQ, executed by Trustor,
<br /> which has been delivered and is payable t the order� of—Beneficiary, and which
<br /> by thia reference is hereby made a part hereof, and any and all modifications,
<br /> extensions and renewals thereof, and,
<br /> b. Payment of all sums advanced by Beneficiary to protect the Trust
<br /> Estate, with interest thereon at the rate of nine (9�) percent per annum.
<br /> Thia Deed of Trust, the Note, and any other instrument given to evidence
<br /> or further aecure the payment and performance of any obligation secured hereby
<br /> are referred to collectively as the '�Loan Instruments".
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br /> 1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of,
<br /> and the interest on, the indebtedness evidenced by the Note, charges, fees and
<br /> all other sums as provided in the Loan Instruments.
<br /> 2. REAL ESTATE TAXES. Trustor shall pay the annual real estate taxes to
<br /> the Aall County Treasurer before the taxes become delinquent and ahall furnish
<br /> tax receipts to Beneficiary on or before May 1 and September 1 each year. In the
<br /> event that special assessments are levied by the City against the property, the
<br /> Trustor shall make the annual payments before the same become delinquent and
<br /> provide Beneficiary with a receipt for payment.
<br /> 3. INSURANCE AND REPAIRS. Upon closing, Trustor shall provide Beneficiary
<br /> with a Certificate of Insurance showing the buildings on each premises to be
<br /> insured for fire and extended coverage in an amount no less than the replacement
<br /> value of the buildinga. Trustor shall pay the premiums for maintaining such
<br /> policy and shall provide Beneficiary with evidence of insurance premium payments
<br /> each year. Such insurance policy shall contain a standard mortgage clause in
<br /> favor of Beneficiary and ahall not be cancelable, terminable, or modifiable
<br /> without ten (10) days prior written notice to Beneficiary. Trustor ehall
<br /> promptly repair, maintain and replace the Trust Estate or any part thereof so
<br /> that, except for ordinary wear and tear, the Trust Estate shall not deteriorate.
<br /> In no event shall the Truetor commit waste on or to the Trust Estate.
<br /> In addition to casualty insurance, Trustor shall provide and pay the
<br /> premiums on comprehensive liability insurance covering each premises and
<br /> protecting the Heneficiary and Trustor from all claims, demands, lawsuits, and
<br /> judgments arising out of injury to persons or damage to property occurring on
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