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<br /> N
<br /> DEED OF TRUST
<br /> THIS DEEU OF TRUS7;is mnde as of 13th day of June ,lg 97 ,by
<br /> and among RICHARD L. BROWN an�.�j3I��• BROWN HLaban�j„�.Wiil�ruator"),whoee mailing nddree+Is
<br /> 1704 Columbia Circle. Grand Island. NE 6880.� and GAI.EN STEHLIK. ATTORNEY �
<br /> (^Tn�sUw"),wh�.gemailingaddressie 23��5�Locuet Street, Grand IslandL NE. 68801
<br /> �� VIRGIL D WEHER � ("Beneficisry")
<br /> whase mailtng nddresa is ,2908 k'_ T.amn1- AvE+�. f:rand TS]and� NR 6R�,3
<br /> FOR VAI.UABLF CON9IDERATION,Truator irrevocubly trnnefera,conveys end asaigns to�istce,IN TRUST,WITH
<br /> POWER OF SAL�,for tho benefit and security of Beneficinry,under und�subject to the terms xnd condltione of tWa Deed of'Ituat,
<br /> the real property located in tho City of Grand Island , Couniy of
<br /> Hall ,State of Nebraska,snd legally described ea followe(the"Property"):
<br /> Lot Six (6). Morningside Acres Thixd Subdiviaion in ths City of Grand Island,
<br /> . Hall County, Nebraaka
<br /> " TOf.'E'THER W1TH,nil rents,ensoments,appurtonances,heredittwnenta,intereets in acjjoining roada,streets and alleye,
<br /> improvements and buildings of any kincl eituated thoreon and ull pereona)property that m�y be or hereattor become an iategtal
<br /> , part oi such buiIdings and impruvnu�c�iaa,a2i Ci'vyo ioiaEu:�::r..cn,r.n3:!?::'«.°.f.^.e^h*.=.
<br /> The Property and the entiro eatute and intereat conveyed to the Truetee are refeaed to collectively as tho "Trust Eetate".
<br />_ F012 THE PUIiPOSE OF SFCURING:
<br /> .. a.Payment of indebtneas in tha totnl principal amount of$ 35.551.74 wit6 9nntoreat thereon,ae evidenad by thAt
<br /> , certain proauaeory note of pven data(the"Noto")with a maturity dnte of�tO�-ex' 1, 2003 .
<br /> executed by Trustos,which has been doliverecl and{e p$yable to the order of Heneficiary,and which by thie reference ie hereby
<br /> made a part hereoP,and eny and all modi6catione,exteneione nnd renewale thereof,aad
<br /> b. Peyment ef tt�l Eimis advanced by Benefieiery to protect tho Truat Eatata,with interest thereon at the rate of
<br /> 7 porcent (.M.Seven 96)per annum,and
<br /> c.11se{wrformauce of Trustor's covenants and egreemente.
<br /> Thie Deed of Trust, tho Note, and any othor instrument given to evidence ar tttrther eecure the payment and
<br /> performance of any obligatton eecured hereby are referred to collectively as the"Loaa Instrumenta".
<br /> TO PROTEC9'THE SECURITY OF THIS DEED OF TRUST.
<br /> 1. PAYMENT OF INDEBTF:DNES9.'IYuator ehall pay when due tho principal o�and the intereet on,the indebEedneee
<br /> evidoneed by the Note,charKes,fees and all othor eums e�provided im tlie Loan Instrumenta.
<br /> ' 2. TAXFS AND ASSESSMENTS.'trustor ehall pay all taues and epecial Assesaments of every idnd,now or het+eaRer levied
<br /> agaiaet the trust eataW or nqy part thereof ae follows:
<br /> (j�iyi�}yone)
<br /> (�' L� TrusWr shall directly pay such tsxe�, without notice or demend as each inateUment comee due aad ahall
<br /> provide the beneticiery with ovidence of tho pnyment of tho eame.
<br /> _�'TruaWr shall pay to beneficiery one-twelith uf the real estate tuxea each month and such other aeaeeementa
<br /> es they become due.The one-twolflh puyment ehull be ac�justed ennually ea the tsxee chst�e and trusWr agreee iLat
<br /> afEer payment of the taxes each yenr that nny de8ciency will be promptly paid W BeueSciary. Benaficiery egrees
<br /> to provide trustor with receipts show{ng thut the mul eatate tisxea have beea paid in fWl and when due.
<br /> 9. INSURANCE ANID 3iuPAIRS.'lYustor shall maintuin fire and extended covornge ineuraace ineiuing the improvemeats
<br /> and buiJdinge cunytituting part of the Trust Estate for nn nmount no loes than the amount of We unpaid prlucipal baleace of the
<br /> Nnte(co-insurance aot exceeding 8096 porn�itted).Such ineuranoe policy ehall contain a standard mortgxge clause in favor of
<br /> Beneficinry and shall not 6o canceUable,termL�able or mod{fioblo wiWout ten(10)days prior written noNoe 4o Bene6aary.
<br /> Trustor shall promptly rcpa'u,maintuin und rnplace tho Truet Eatate or any part thereof eo that,e=oept for ordinary wear and
<br /> tear,the Trust Estutc ghall not detcriornte.In no event Rholl thv TruaWr commiL wa:rtc on or to the Tn�st Eatate.
<br /> 4. ACTIONS AFFEC7'ING TRUST ESTATE.nusWr ehall appear in and contest any action or proceeding purporting W
<br /> a!'Fect the security hercof or the rights or powere of Beneficinry or Truetee,and ehall p�}r all costs and expeneee.iwcluding cast of -
<br /> evidence of title und attorney's fees,in arty such action or procec�iing in which Beneficiaty or'lYvstee mqy appear.3hould Truetor
<br /> fail to malco nny p�nnent or ta do n�y act ne nnd in thn msnner pmvided in any of the l.oan Instrumente,Beneficiary and/or °
<br />- Trvsteo,euch in its own discrction,without obligation so I,o do and without notice to or domend upoa Trustor and without
<br /> releaeinq Trustor from any obligatian,niQy mnkv or do the enme {n auch manner and to euch extent ne either may deem
<br />-_ neceseury to prote�:t the security hereof.Trustor shall,immndiately upon demand therefor by Beneficiary,pa�y all cosfe aad -
<br />= expenses incurred by Beneficiary in cunnection with thc� exercise by Beneficinry of the foregoing righta,including without
<br /> limitntion cobts��f evidence of title,court costv,uppraienls,eurveys und ntt�rno5re fees.Any such cost,�and expeneee not paid -�
<br />- within ten(10l day�of written demmid shnll druw interest at the defnuit mte provlaed m tAO ivote. -
<br />- G. Eh1IN�:NT DOA7AIN.Should the Trust�stnte,or any purt thcreof or interest thorein,be talcen er dnmaged by reaeon of r
<br /> - actiy l�ublic improvrmcut or condemnution procceding, or in any other mnnner including deed in lieu of Coademnation '�
<br /> _ a y :-
<br /> = ("Condemnutiun'7,or ehould Trustor recciva nny notice or other informution reqardiug such proceeding,Tn�stor shell give prompt -
<br />-- written notice thercof to Beneficiury. Beneficiury�hcill be ent,itled to ull compeneation,awnnie and other puymenta or relief �
<br /> � therefor,und ehnll lx�entitled+�t iGv option to�rommence,nppeur in nnd prosecutc+in itx own name any ttction or proceedings. `
<br /> � Reneficinry ahnU nldo 6c entitled to muke uny�rmpromise ur settlement in connection with such taking or dau►nge.All euch �.
<br /> compen.9ation, uwurde, dumagce, rights uf uction nttd pmcecds nwerded to Truator(tho "Froceeds") are hereby aseigned to _
<br />,; Beneficinry nnd 7'rustor ngrees to exocuto such fiuther nqeigeiments of Wo Procei.�de ne BeneGciary or'l�uetee mqy rnquine, "-
<br /> �+ 6.FUTURE ADVANCM:5.Upon reyucst of'Pruston Be►tefciory,nt Boneficinr�e uption,prior to reconveyanco of the Property `_
<br /> ' to Tru�tor mny mnk�r fiiture ndvancey to'Crustor.5uah futurn ndvunrns,with intemet thereon,ehall be3 eecumi by thie Deed of _
<br /> i 'I4u�t when r.vidrnced by rromissory not�s tiWting thi�t euid notes nm s��curnd liureby. _
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<br /> Rev.9�95 `-
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