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<br /> ` DEED OF TRUST WITH FUTURE ADVANCES N —
<br /> �::�-
<br /> 22ND D�CEMBER 97 � �� '_'���
<br /> THIS DEED�F TRUST,Is made as oi the dey of ,19 ,by and among ---•
<br /> theTrustor, RICKY L. LUDWIG AND PAME_LA 5. LUDWIG. HUSBANA AND WIFE `�' �
<br /> •. \� - ---
<br /> whose mailing eddress is (hereln`Trusta�', whether one or more), �= _-
<br /> , � tneTrustee FIYE PQINTS BANK, A NEBRASKA CORPORATION
<br /> , x.
<br /> „ � -
<br /> whose mailing address is �n q 0 X 15 0 7 G R A N D I S I,.A N D N E 6 8 8 0 2 (herein'Trustee'),and
<br /> � the eenoflciary, F I V E P O I N T S B A N K
<br /> �. whose malling address is 2 015 N . B R 0 A Q W E L L G R A N D I S L A N D N E 6 8 8 0 3 (herem"�ender"). —
<br /> FOR VALUABLE CONSIDEI7ATION,Including Lender's extensfon of credit identified hereln to �_-
<br /> RI .KY LLIDWI � AND PAMELA S. LUDWIG
<br /> (herein"Borrower,"whether one or more)and the trust herein created,the recelpt —_
<br /> �, oi whlch Is hereby ecknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br /> � POWER OF SALE,for the beneflt and security of Lender,under and subJect to the terms and canditlans hereinafter set forth,the real
<br /> -_-= --__ - - �+ropert;descrl►_u+d es follow!+'
<br /> •:.�.
<br /> LOT SIX (6) � BLOCK THREE (3) , KNICKREHM FOUkTH (4TH) SUBDIVISION,
<br /> CITY OF GRANO ISLAND , HALL COUNTY, NEBRASKA
<br /> Together with all buildings,Improvements,flxtures,streets,alleys,passegeways,easements,rights,privilages and appurtenances
<br /> located thereon or In enywise pertein(ng thereto, and the rents,issues end profits,reverslons and remalnders thereaf,and such per-
<br /> sonal propertyr that I�attached to the Improvements so as to constitute a flxture,including,but not Ilmited to,heating and cooiing equip-
<br />� ment;end together with the homestead or marital interests,If any,which Interests are hereby released and wafved;all of whlch,includ-
<br /> Ing replacements and additbns thereto,Is hereby declared to be a part of the real estate secured by tho Ilen of thb Deed of Trust and
<br /> all of the foregoing being referred to hereln as the"Property'.
<br /> �. This De�d tUs II e ure(a a ment of the rinci al sum end Interest evidenced b a romisso note or credit e ree-
<br /> . ment dated D�c F���� ��► 1���p y P p having a meturiry date of J A N U A R Y 15 ry 2 00 3, 9
<br /> , � In the origlnel principal amount of $ 35.000.00 , and any and ell mailflcatlons,extensions and renewels
<br /> , thereof or therato and any and all future advances and readvances to Borcower(or any of them Ii more than one)hereunder pursuant
<br /> to one or more promissory notas or credit egreements(hereln called"Note");(b)the payment of other sums advanced by Lender to
<br /> protect the securfty of the Note:(c)the performanca of eli covenants end agreements of Trustor set forth herein; and(d)all present and
<br /> future Indebtedr�ess and obugations of Borrower(or any of them if more than one)to Lender whether direct, indired,absolute or contin-
<br /> , gent and whether arisinc�by note,guaranty,overdraft or otherwise.The Note,this Deed oi Trust and any and all dhRr documents that = __
<br /> secure the Note or othorwise executed in connection therewith, including without Ilmitatlon guarantees,securily agreements and
<br />-. ' assignments of leases and rents,shall be reterred to herein es the'Laan Instruments'.
<br /> . Trustor covenants and egrees with Lender es toltows: -- -
<br /> . 1. Payment oi Indebtedness.AII Indebtedness secured hereby shell be pafd when due. __-
<br /> 2. Title.Trustor ls the owner of the Property,has the right and authoriry to convey the Property,and warranls that the Ilen creat- _— --
<br /> ed hereby Is a flrst and prior Iien on the Property,except tor Ilens and encumbrances set torth by Trusto�in wril�g and delivered to r��<.'.-
<br /> Lender before execution of lhis Deed of Trust,and the execution and delivery of Ihis Deed of Trust does not violete any contract or ",Y.�..
<br /> j other obilgation to which Trustor is subJect. � _�;"=.
<br /> ; 3. Taxes,Assossmants.To pay before delinquency all taxes,special assessments and all other chargesagainst the Property °--`
<br /> � now or hereafter Ievied.
<br /> 4. Inaurance.To keep the Property Insured agafnst damage by flre,hazards included within the term'extended coverage',and �
<br /> ' such other hazards as Lender may requlre, (n emounts and with companies accepteble to Lender, naming Lontle�as an additional
<br /> � named insured,with loss payable to the Lender. In case of loss under such pollcies, the Lender Is authorized to adjust,collect and
<br /> ' � compromise,all claims thereunder and shail have the option of applying all or part of the insurance procoeds (i)lo any indebtedness •
<br /> � secured hereby and in such order as Lender may determine,(ii)to the Trustor to be used for the repalr or restoratan oF the Property or
<br /> (iff) for any other purpose or object satisfactory to Lender without aHeCting the Ilen of this Deed of Trust for the full amaunt secured
<br /> hereby before such payment ever took place.Any applicat�ons of proceods to Indebtedness shall not extend or postpone the due date
<br /> 1 of any payments under the Note,or cure any default thereunder or hereunder.
<br /> Fi Fer.rnw (lnnn wriflan damanrl hv 1 wndwr Tn�aMr ahall nav tn I wndar Sn c���h mannar ac 1 anrfar mav dnainnata cuffiniunt
<br /> � sums to enable Lender to pay as they become due ono or morc�of the following: (i)all taxes,assessments and olher charges against
<br /> tho Property, (iil the premlums on the property fnsurance raqufred hereunder,and (iil)the premfums on any mortgago insurance �
<br /> roquirod by Lender.
<br /> : 6. Mafntenanco, Repairs and Compllance wfth Laws. Trustor shall keep llie Property in good condilion and ropair; shall I
<br /> , promptly repair,or roplaco any improvomont which may be damagod or dostroyed;shall not commit or parmit any waste or detoriora-
<br /> t�on of the Property;shall nol ramove,demolish or subslantlally alter any of tho improvements on the Property; shall not commit,suHer
<br /> ! or permit any act to be done in or upon the Property in violation of any law, oidinance,or regulation;and shall pay and promptly dis-
<br /> ch�rgo at Trustor's cost and expense all liens,encumbrances ar.d charges Iovfed,imposed or accessod againsl lhe Pro�erty or any
<br /> part thQreof.
<br /> 7 Eminont Domaln.Lender is hQroby assigned all compensatfon,awards,damages and other paymontsor relief(hereinafter
<br /> M51iN.�•n�}����:WniUt�11N�•�\�M. ' �
<br /> 1,IV3D M��.�..v U]�����1.�r�ip�.ol�i�.�n��t'.�.rya Atw.�la�r��v�Yr MH•o��e
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