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<br /> � DEED OF TRUST �
<br /> Tlus Deed of Trust, hereinafter refened ta as Sxurity Instn�ment, is mede on thia 31ST day of
<br /> OCTOBER, 1997. The Trustor, hereinafter referred to as Borrower, ia WOOD RIVEts MOTEL, INC,S
<br /> whose addresa is 1I774 S NE HWY 11, WOOD RIVER, NEBRASKA 6�s3• The Trustee. hereinaRer o�
<br /> refened to as Trustee, is Adams County Bank. The Beneficiary, hereinafter referred to as Lender, is Adams
<br /> County Bank, which is organized and existing under the laws of the State af Nebraska, snd whoae address is `
<br /> Kenesaw,County of Ada�ns, State of Nebraska. Bonower owes 1Lender the principa!aum af ONE
<br /> pp0 00). Thia debt i�
<br /> HUNDRED TEN THOUSAND AND NO/100 Dollars (5110, .
<br /> evidenced by Borrower's note dated the same date as this Security Inatrument, hereinafter raferred to as Note,
<br /> with the full debt,if not paid earlier,due and payable on OCI'OBER i,2007. This Security Instrurnent secures
<br /> to I.eader: (a) the repayment of the debt evidenced by Note{s), together with interest thereon, eny further
<br /> advances,and all extensions,modification,substitutions and renewals thereo� (b)tho payment�f all other sume,
<br /> with interest, advanced under Section Nlne hereof to protect the security of this Secudty Instrument;snd(c)the
<br /> performence of Borrower's covenants and ageements under this Sxurity Instrument and the Note. For thie
<br /> purpose, Bonower irrevocably grants and convays to Trustx, in trust, with Power of S�le, the following
<br /> �Eawn�iP�P.�'fA1P_.'
<br /> LOT TWO(2),BABEL SUBDIVISION,HALL COUNTY,NEBItASKA,
<br /> AND
<br /> PART OF THE EAST HALF OF THE SOUTHEAST QUAIZTER(E1/2SE1/4)OF SECTION SEVEN(7)�
<br /> TOWNSHIP NINE(9)NORTH,RANGE ELE`VEN(11)WEST OF THE 6TH P.M.,HALL COUNTY�
<br /> NEBRASKA,MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE
<br /> EAST LINE OF SAID SECTION SEVEN(7),SAID POINT BEING 1�703.7 FEET SOUTH OF THE NE
<br /> CORNER OF SAID SE1/4;THENCE SOUTI�RLY ALONGTHE BAST LINE OF SAID SECTION SEYEN
<br /> (�, A DI5TANCE OF 55.1 FEET;TI�NCE DEFLECTING RIGHT 90 DEGREES 00'AND RUNNIN(�
<br /> WEgTERL,y pARALLEL TO THE SOiJTH LINE OF I.OT TWO(2),BABEL 5UBDIVISIAN�A
<br /> DISTA�TCB OF 1,036.5 FEET;TI�NCE DEFLBCTING RIGEIT 90 DEGRE�S 00'AN17r RUNNING
<br /> NOR'fHERLY.A DISTANCE OF 150.0 FEET TO THE SOUTHWEST CORN�R OF SAID LOT TWO(2);
<br /> T�IENCE EASTERLY ALONG THE SOUTI�RLY Y,INE OF SAIU LOT TWO� A DISTANCE OP 986.5
<br /> FEET, TO THL� SOUTHEAST CORNER OF SAID LOT TWO(2);THENC'E RiJNNING
<br /> SOUTHEASTERLY ALONG THE HIGHWAY RIGHT OF WAY x.INE,A DISTANCE OF 101.4 FEET.TO
<br /> A POINT 33.0 FEET WE5T OF THE EAST LINE OF SAID SECTION SEVEN(7);THENCE EASTERLY
<br /> PERPENDICULAR TO THE EAST LINE OF SAID SECTION SEVEN(7),A DISTANCE OF 33.0 FEET
<br /> TO THE PLACE OF DEGINNING.
<br /> which is located in HALL County,Nebraska,having the address of 11774 S NE HWY il,WOOD RNER, �
<br /> Nebraska and is hereinafter referred to ss"Property�Address".
<br /> Together with all the improvements now or hereufter erected on the property and all easementa� righta�
<br /> appurtenances,rents,royalties,mineral,oil and gas rights and profits,water rights and stock and a11 fixtures now
<br /> or hereafter a part of the said property. All replacements and additions shall also be covered by this Securlry
<br /> Instrament. All of the foregoing is referred to in this Security Instrument as the"Property".
<br />— Bonower covenants that Aorrower is lawfully seized of the estate hereby conveyed and has the right to
<br />= grant and convey the Property and that the 1'roperty is unencumbered, except for encumbrances of record.
<br />= Borrower warrants and will defend generally the title to the Property against all claims and demands� subject to
<br /> en�,nn�»mhranrpn nf rP�ntd. Bo170WCf 1tl(�I.Cri(�Ct COV811A11Y 811C1&g'TCC AS fO�lOWB:
<br /> «..�..--....�------ --
<br />— 1. TRUST DEEDS ACT. That this Trust Deed shall be governed by the terma of Section 76-IVOi, ann
<br />� following,of the Itevised Statutes of the State of Nebraska,also known as the Nebraska Trust Deeds Act.
<br />_= 2. PAYMENT. That the Borrower shall pay to the Beneficiary the principal and interest under ttte torma
<br />- of the Promissory Note(s).
<br /> - 3. TA3�S. That the Borrower shall pay all general real estate taxas and special assessments levied
<br /> � hereinafter against the property when the same become due and before the same become delinquent.
<br />'� 4. INSiJItANCE. That the Bonower shall insure the property against loss by fire, hnzards, included
<br /> °� within the term "Extended Coverage" and any other haza�rds for which the Lender requires insurance in an
<br />-= amount not less than ONE HUNDRED TEN THOUSAND AND NO/100----�------Uollars ($110.000.OQ)
<br /> �
<br /> with a company qualified in the State of Nebraska by a policy containing a clause for loss payable to tho
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