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<br /> DEED OF TRUST WITH FUTURE ADVANCES � �
<br /> �.
<br /> THIS DEED OF TRUST, is made as of the 19th day of MaY , 19 98 , by and among
<br /> T7
<br /> the Trustor, �RY MULLIGAN and LENORE MULLIGAN, HLISBAND AND WIFE ��
<br /> whose mailing address is 2907 I�EPENDENCE AVENU�RAND ISLAND NE 6880��erein "Trustor," whether one or more),
<br /> the Trustee, BANK OF DONIPHAN
<br /> whose mailing address is PO BOX 270 DONIPHAN, NE 68832 (herein "Trustee"►, and
<br /> the Beneficiary, B•�NK OF DONIPFiAN
<br /> whose mailing address is PO BOX 270 DONIPFiAN NE 68832 (herein "Lender").
<br /> FOR VALUABLE CONSIDERATION, inciuding Lender's extension of credit identified herein to LFIRRY MULLIGAN
<br /> LENORE MULLIGAN
<br /> (herein "Borrower", whether one or more) and the trust herein created, the
<br /> receipt 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 /> LOT THREE (3) , AMICK ACRES EAST SUBDIVISION, HALL COUNTY,
<br /> NEBRASKA.
<br /> PROPERTY ADDRESS: #3 SONJA DRIVE DONIPHAN, NE 68832-
<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 personal
<br /> property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling equipment;
<br /> and together with the homestead or marital interests, if any, which interests are hereby released and waived; all of which, including
<br /> 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 all of
<br /> 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
<br /> agreement dated N7ay 19, 1998 , having a maturity date of May 20, 2003
<br /> in the original principal amount of S 20,000.00 , 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 to
<br /> one or more promissory notes or credit agreements (herein called "Note"1; (b) the payment of other sums advanced by Lender to protect
<br /> the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future
<br /> indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct, i�direct, absolute or contingent
<br /> and whether arising by note, guaranty, overdraft or otherwise. The Note,this Deed of Trust and any and all other documents that secure
<br /> the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and assignments
<br /> of leases and rents, shatl be referred to herein as the "Loan Instruments". •
<br /> Trustor covenants and agrees with Lenderas 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 created
<br /> hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to Lender
<br /> before execution of this Deed of Trust, and the execution and delivery of this Deed of trust does not violate any contract or other
<br /> obligation to which Trustor is subject.
<br /> 3. Taxes,Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property now or
<br /> hereafter levied.
<br /> 4. Insurance. To keep the Property 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 named
<br /> insured, with toss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and compromise,
<br /> all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby
<br /> and in such order as Lender may determine, (ii)to the Trustor to be used for the repair or restoration of the Property or (iii) for any other
<br /> purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such
<br /> payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under
<br /> 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 sums
<br /> to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against the
<br /> Property, (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance required by
<br /> Lender.
<br /> 6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall promptly
<br /> repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deterioration of the
<br /> Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, suffer or permit
<br /> any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shalf pay and promptly discharge at
<br /> Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof.
<br /> NBC3457A (Nonagricultural Oeed)Rev.12/97
<br /> O 1988 National Bank of Commerce Trust and Savings Association,Uncoln,Nebreska
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