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<br /> - DEED OF TRUST WITH FUTURE ADVANCES �.=
<br /> �=:-- _-
<br /> • THIS DEED OF TRUST,Is made ae of the 24TH day oi DECEMBER ,19 97 ,by and among
<br /> � �'-
<br /> theTrustor, EDWARD A. FARRELL AND LORRATNE D. FARRELL HUSBAND AND WIFE � � -
<br /> �,�—
<br /> � whose mafling address Is 122 E. 16TH GRAND I SLAND NE 68801 (herein"Trustor",whether one or mora), \
<br /> �
<br /> ° the Trustee `
<br /> �
<br /> whose mailing eddress Is P 0 BOX 1507 GRAND ISLANO NE 68802 (hereln"Trusteo"),end
<br /> y� � the Beneflciary, I O I N S B NK
<br /> whosemaiiingaddressis 2015 N. BROADWELL AVE. GRAND ISLAND NE 68803 (herein'I.ende�').
<br /> �� FOR VALUABLE CONSIDERATION,Inciuding Lender's extenslon oicredit Identifled horein to
<br /> � p LL ND LOR INE D RRELL
<br /> � ,� _(hereln'Borrower,"whether one or more)end the trust hereln created,the recelpt
<br /> oi which is hereby ecknowledged, Trustor hereby irrevocably grants,transfers,conveys end assigns to Trustee, IN TRUST,WITH
<br /> �� POWER OF SALE,for tne benefit end sacwiiy uf i.endar,urd�r�r.d s'�b;er►��thw terms and conditions herelnaftor set forth,the reai
<br /> �" property desctlbed as foliows:
<br /> � LOT TEN (10)� BLOCK �IGHTY-NINE (89), WHEELER & BENNETI' FOURTH SUBDIVISIUN
<br />- - �' CITY OF GRAND ISLAND, HALL COUNTY. NEBRASKA
<br /> Y
<br /> � Together witn all buildings,improvements,flxtures,streets,alleys,pessegeways,easements,rights,privlloges and appurtenances
<br /> , loceted thereon ar in enywise pertaining thereto,end the rents,Issues and proflls, revarsions and remafnders thereof,and such per-
<br /> J ' sonal property that is atteched to the Improvements so as to constltute a fixture,Including,but not Iimited to,heating end coaling equlp-
<br /> ��, ment;and together with the homestead or marital Interests,if any,which interests are hereby released end walved;ell of which,fnclud- �
<br /> ing replacements and additlons thereto, Is hereby declared to be a part of the reai ostate secured by the Ilen of this Deed of Trust and
<br /> dl of the toregoing befng referred to hereln as the"Properly".
<br />` This Deed ot Trust shell secure(a)the payment of the principal eum and interest evidenced by a promissory note or credit agree-
<br /> i�.
<br /> ment dated DECEMBER 24 1997 ,having a maturity date of,�FfFMRFR 5� �nna .
<br /> � � In the origlnal principai amount of S 11 339.45 ,and ony end all modifEcations,extensiona and renewals
<br />� .� thereof or thereto end any and ell future advences and readvances to Borrower(or any of them ii more than one)hereunder pursuant
<br /> , to one or more promissory notes or credit egreements(hereln called'Note'); (b)the payment of other sums edvanced by Lender to —
<br /> - � protect the security of tha Note;(c)the porformence of all covenants and agreements of Trustor set forth hereln;and(d)ell present end `
<br /> future indebtedness and obligailons oi Borrower(or any of them if more than one)to Lender whether dlrect,indirect,absoiuto or contin-
<br />� , gant an�whether arising by nole,guaranty,overdraft or othervvlse.7he Note,this Deed of'1'rust and any and all other documents that
<br /> ; secure the Note or othenvise executed in connectlon therewith, fnclud(ng without Iimitatlon guaranlees,security agreemonts and
<br /> �� ' assignments of leases and rents,shali be referred to hereln as the"Loen Instruments'. -
<br /> - r � Trustor covenants and agree3 with Lender as follows: ____
<br /> � 1, payment of Indebtedness.Ail indebtednoss secured hereby sheil be pald when due.
<br /> 2. Titls.Trustor is the owner of the Property,has the right and euthoriry to convey the Property,and warrants that the Ilen creat- F.,__
<br /> ed heraby Is e first and pdor lien on the Property,except for Ilens and encumbrancos set forth by Trustor in wrlting and delivered to ,y;_:___
<br /> Lender before execution ot this Deed of Trust,and tho execution and delivery of this Deed of Trust does not violate any contract or "u_T�
<br /> � other obligation to which Trustor is subJect. `�`"-�=--
<br /> 3. Taxes,Assessmenta.To pay bofore deilnquency all taxes,special assessments end all other charges against the Property �..,,��:.._._z
<br /> I now or hereafter levied. � .s.�y.
<br /> 4. Insurance.To keep the Pruperty insured agafnst damago by fire,hazards included withfn the term"extended covorage',and
<br /> . such other hazards as Lender may require, in amounts and with companles acceptable to Lender,naming Lender as an additional
<br /> narned insured,with loss payable to the Lender. In case of loss under such policies, tho Lender Is authorized to adjust, collect and
<br /> compromise,all claims thereunder and shall have the optfon of applying all or part of the fnsurance proceeds(i)to any indebtedness
<br /> secured hereby and in such order as Lender may determine,(if)to the Trustor to be used for the repalr or restoration of the Property or
<br /> I (ili)for any other purpose or obJect satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
<br /> I hereby before such payment aver took place.Any applications of proceeds to indebtedness shall not extend or postpone the due date
<br />._ _ . . _ . . . __...._s_..�..w.........de...r hnrnundar
<br /> .. �
<br /> of any payments unaor cne rvoie,c�t cuia n��y�o�auu u�o�....��..... ..• ••-•--••--• - -
<br /> ; 5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br /> � sums to enabie Lender to pay as lhey become due one or more of the following: (i)all taxes,assessments and olher charpes against
<br /> I lhe Property, (if) the premiums on the property insurance reqwred hereunder,and (fif) the premiums on any murtgayo insurancp
<br /> � required by Lendor.
<br /> i 6. Malntenance, Ro�oalrs and Compllance with Laws.Trustor shall keop tho Property in good condiflon and repair; shall
<br /> j promptly repafr,or replace any improvoment which may be damaged or destroyed;shall not commit or permit any wasto or deteriora-
<br /> i lion of the Proparty;shall not remove,demolish or s�abstantially alter any of the improvements on the Property;shall not commit,suNer
<br /> or perrnit any act to be done in or upon the Property in violation oi any lew,ordinance,or regulation;and shall pay and promptly dis-
<br /> charge at Truslor's cost and expense all Ilans, encumbrances and charges levied,imposed or accussed against the Property or any
<br /> - part lhefeof.
<br /> 7. Eminent Domaln. Lendar is heroby assigned all compensation,awards,damages and other payrtients or relief(hereinafter
<br /> � � NNt:��Sr�mm�a,.onwr�Umtluu.S•J4 I
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