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<br /> .0 DEED OF TRUST WITH FUTURE ADVANCES —�
<br /> h
<br /> �Q This DEED OF T�tUST is made this 21st day of August, 1997,by and annong LONNIE D. MORSE �
<br />, And CHRISTINA K. MOItSE, husband �nd wife, hereinafter referred to as "Trustors," whether one or
<br /> more,whose mailing address is Route 1 Box 118, CAiro,Nebraska 68524;THE STATE BANK OF CAIRO,
<br /> u NebrASlca BAnking Corporation,hereinafter referred to as "Trustee." whose mailing address is Bo�c 428,
<br /> CAiro, Ne6raska 58824; and THE STATE BANK OF CAIRO, sa Nebr�s{c� Bxnking Corporation,
<br /> hereinafter referred to as"Beaefici�ry," whose ma+ling addresa is Box 425.C�iro, Ncbraslca 68824. �
<br /> For valuable cansideration, Trustars inevocably grant, transfer,convey and assign to Ttustee, in trust,
<br /> with power of sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions of
<br /> this Deed of Trust,the following described real property located in HALL County,Nebraska: _
<br /> Lot Eight(8),Block One(1).Fifth Addition to the Village of Cairo,Hall County,Nebraska;
<br /> together with all buildings, improvements,fixtures,streets,alleys,passageways.e�sements, rights, privileges and
<br /> appurtenances located thereon, and aU personal property that may be or hereafter become an integal part of such
<br />- buildings and improvements,all crops raised thereon, ana ail waie� ii�ht�, alt of which, inclading re�l?r.�rnents
<br /> and additians thereto,are hereby declared to be a parc of the real estate convzyed in wst hereby,it being agreed
<br /> that all of the foregoing shall be hereinafter referred to as the"Property."
<br /> FUR THE FURPOSE OF SECURING:
<br /> A. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br /> 513,000.00, together with interest at the rate or rates provided therein,and any and all renewals, modifications
<br /> and extensions of such nate,both princip�l and interest on the note being payable in a�;cordance with tha tern�s
<br /> set forth therein, which by this reference is hereby made a part hereof; and any and all fuhue advances and
<br /> readvances to Trustors hereunder pwsuant to one ore more promissory notes or credit agreements(herein called
<br /> "Note");
<br /> � ' b. the payment of other sums advAnced by Beneficiary to protect the security of the Ivote;
<br /> c. the performance of all covenants and agreements of Trustor set forth herein; and
<br /> d. all present and future indebtedness and obligations of Trustors to Beneftciary whether direct, indirect,
<br /> . absolute or contingent and whether arising by note,guarantY. averdraft or otherwise;
<br /> , TO PROTECT THE SECURITY OF THIS DEED OF TRUST,TRUSTORS flEitEBY COVENANT AND AGREE:
<br /> 1. To pay when duc,the principal of,and thc interest on. the indebte�ness cvidenoed by thc note, charges, fces and all otlxr
<br /> sums as pmvidcd in thc loan icuUumcnts.
<br /> 2. T�ustors are the owners of thc pmpenY and have the right a�id authority to executc this Dced of Tn�st in respoct to thc
<br /> PraP�rtY•
<br /> 3. To pay. �vhcn due. all taxcs. special assessments :►nd all other charges ag�inst the propert��. before the same omc
<br /> delinqucnt. Trustors shall pay all taxcs and assessments�vhich may be Lcvied upon BeaeGciary's interest hcrein or upon this Deed of
<br />--- Trust or the debt saured hereby,without rcgard to any law tl�at may be enacted impwsing payment of the wt►ole or any part thereof
<br /> upon the Benefeciary.
<br /> = 4. To kcep the impmvcments now or hereafter locatcd on thc property insured against damage by fire and such other hazards as
<br />:�, uire,in amounts and oompanies acceptable to the Beneficiary. Such insurance policy sl�all oontain a standard
<br /> — dic Hcncficiary maY►r9 rt thereof,so
<br /> — [s�oRgage clause in favor of Beneficiary. 'C'custor shall promptly repair, maintain and replace the property ar anY Pa
<br /> __�.�_ .�.....v.,w.y.,ehall nnt deterioIatC.
<br />� tha�cxcept for ordinary�Yai��ma aw...,..,r•••r--, ----
<br /> — S. In the evcnt thc property. or any part thcrcof,stu�ll bc taken by eminent domain, thc Bcncficiary is cntitlod to oouec[and
<br /> rcceive a1l compensation whicU may bc p���d for any propertY taken or for damagcs to property not taken,and the Heneficiary shall
<br /> r apply such connpensauon,at its option, cither ro a reductiai of the indebtedness saured hereby.or to repuir and restore the property
<br /> so takcn.
<br />'-��` 6. The Beneficiary may. but sliall have no obligation to. do any' act �vhicti Tcustors have a�reed but failed to d.o, and thc
<br /> Beneficiary may also do any act it deems neccssan•to pmtect the lien l�ercof. Tmstots agrce to repay, upon demand.any surns so
<br /> c�pendc�by thc Bencficiarv for thc abovc purposes.and any sum so expcnded shall bc added to the indcbtedness sccurcd liercby and
<br /> become secured by tlie lien hercof. 'I'he Benefciary shall no incur any liability because of anything it ma�� do or omit to do
<br /> hcreunder
<br /> 7. Thc Bencficiary sliall havc thc nght, po«�cr and authority dunng�hc continuancc of th�s Dcxd of Trust to c�ll�xt tl�c rcnts.
<br />" a.ssucs and profits of thc property and of anr�perso�u�l pmpccty loqtcd thcrcon��•ith or �vithout taking posscssion of thc property
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