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<br /> �L DEED OF TRUST WITH FUTURE ADVANCES • �:��
<br /> ..�� THIS DEED OF TRUST,Is made as of the 26th dey oi Decem ber ,19 97 ,by and among� -
<br /> „ �� theTrustar, 1am c � Sh�1tz and Anyela G Shultz, h�sband and wife , \A ."=�
<br /> r �s�.-
<br /> ''' whose malling addresa is 5�a E. 19th Street. G rdnd__�Sla 11d. N C 68801 (herein•Trusror',whether one or more), -
<br /> , a�
<br /> � tnerruscee �'ive Points Bank a Nebraska Cor�oration —��---
<br /> �:
<br /> � `Y ---
<br /> whose malling address is P f1 RnY t Ff17 �ra n�i Tclw nr1 �f�A42-�507 (herein"Trustee'),and
<br /> Five Points Bank f�-�� —
<br /> ;!�, the Beneflciary, �v
<br /> whose mailing address is 0�1�N ... B rna ri wa11 A v e �,.�ra n d i c1a n d� N E 68803 (hersin"Lender). ��
<br /> � FOR VALUABLE CQPJSIDERATION,includiny Lender's extenslon of credit IdenUfiAd herein to Ja mes E. S h U1tZ
<br /> anrl Aneala_.,� Chiilt�
<br /> • � � (horein"Borrower,"whether one or more) end the trust hereln created,the receipt
<br /> of which Is hereby acknowledged,Trustor hereby Irrevocably grente,trensfers, conveys and essigns to Trustee, IN TRUST, WITH
<br /> - - - . -. PQ:":ER OF SAlE,!Qr the ben�Ri and�er_.����ty nf I nnder,under and subJect to the terms and conditions herelnafter set forth,the real _
<br /> property described as foliows:
<br /> The West Thirty-eight and five tenths feet (W38.5') of Lot Thirty-five (35) and the
<br /> East Th9rty-eight feet (E38') of Lot Thirty-four (34), B1ock Three (3)� B1ain
<br /> Addition to the City of Grand Island. Ha11 County. Nebraska.
<br /> � Together with all bulldings,Improvemonts,fixtures,streets,alleys,passageways,easemente,rights,privllegea and appurtenances
<br /> . located theroon or In enywise perteining thereto, and the rents, issues and proflts,reverslons and remalnders thereof, and such per-
<br /> sona!property that Is attached to the Improvements so es to constitute a flxture,Including,but not Ilmited to,heating and cooling equlp-
<br /> ment;and together with the homestead or marital interests,If any,which interests ere hereby released and waived;ail of which,Includ- __
<br /> Ing replacements and additlons thereto, Is hereby declarad to be a part oi the real estate secured by the Ifen ot this Deed of Trust and
<br /> , all of the foregoinp being referred to herein as the"Property". -
<br />- This Deed of Trust shall secure(a)the peyment of the principal sum and IntArest evidenced hy a promlesory note or credit agree- _
<br />" ment dated Il prta m h pr �F� 1 QQ7 ,having a maturity date of .1a p u a ry 1� 7t1f11
<br /> in the original principal amount of a 7.020.37 , and any end ail modiflcatlons,extensions and renawals ���
<br />= thereof or thereto and any and ell future advances and readvances to Borrower(or any of them If more than one)hereunder pursuant �`=---
<br />- to one or more promissory notes or credit agreements(hereln cailed'Note"); (b)the payment of other sums advanced by Lender to '""
<br /> protect the securiry of the Note;(c)lhe performance of all covenants and agrooments of Trustar set forth hereln;and(d)all present and �°,.-�--
<br /> future indebtedness and obllgatlons of Borrower(or any of them if more than one)to Lender whether direct,indirect,absolute or contin- [•-����
<br /> gent and whether arising by note,guaranty,overdraft or othenvise.Tho Note,this Deed of Trust end any and all other documents that �'"<�-�
<br /> secure the Note or otherwise executed fn connection therewith, includinp without Iimitation guarantees,securlty agreements and
<br /> assignment�of leases and rents,shall be referred to hereln as the'Loan I�struments'.
<br /> Trustor covenants and agrees with Lendar as follows:
<br /> � 1. Paymont oi Indebtedness.All indebledness secured hereby shall be pafd when due.
<br /> l2. Title.Trustor is the owner of the f�roperty,has tlie right and authority to convey the Piroperty,and warrants thet the Ilen creat-
<br /> _ 1 ed hereby Is a flrst and prior Iien on the Property,except for Ilens and encumbrances set forth by Trustor in writing end delivered to --
<br /> Lender before execution of this Deed of Trust,and the execution and delivery of this Deed of Trust does not violate any contract or 'S'�
<br /> � other obligation to whlch Trustor is subject. . -�
<br /> � 3. Taxes,Assessmenta.To pay before delfnquency all taxes,special acsessments and ell other charges against the Property
<br /> now or hereafter levied.
<br /> 4. Inaurance.To keep the Property Insured agalnst damage by flre,hazards included wlthln tho term'extended coverage',and ��
<br /> such other hazards as Lender may require, In amounts and with companies acceptable to Lender, naming Lender as en odditlonol
<br /> named insured,with loss payable to the Lender. In case of loss under such policfes, the Lender is authorized to adjust, collect and
<br /> I compromise,all claims thereundor and shall have the option of applyfng all or part of the insurance proceeds (I)to any Indebtedness
<br /> secured hereby and in such order as Lender may determine,(fi)to the Trustor to be used for the repafr or restoration of the Property or
<br /> • i (fii)for any other purpose or object satisfactory to Lender without affecting the Ilen of this Deed of Trust for the full amount secured
<br /> � hereby before silch payment ever took place.Any applicatlons of proceeds to indebtedness shell not extond or postpone the due date �
<br /> ..r��.,.,��r„ar,e���ndar thw Nntw nr ri,rw any dafault thereunder or hereunder. ___
<br /> . I .. ....� r...�..._...__..__. . . _._.. .. _
<br /> 5. Escrow. Upon written dernand by Lender,Trustor shall pay to Lender, fn such manner as Lender may designate, sufficient �,
<br /> sums to enable Lender to pay as they become due one or more of the following:(i)all taxes,assessments and other charges against
<br /> � the property, (if) the premiums on the property insurance requirod hereunder,and (iif) the premiums on any mortgage insurance
<br /> _ I reqwred by Lender.
<br /> , 6. Malntenance, Repairs and Compllanco wfth Laws. Trustor shall keep the Property in good condition and repair; shall �
<br /> ' promptly repair,or replaco any improvement which may be damaged or destroyed;shall not commit or permit any waste or detertora-
<br /> � tion of the Property:shall not romove.demolish or substantially alter any of the improvements on the Property; shall not Commit,SuHer
<br /> or perm�t any act to be dono in or upon the Property in violetion of any law, ordinance,or regulation;and shall pay and promptly dis- i
<br /> - , charge at Trustor's cost and expqn�e all liens,encumbrances and charges levfed,imposed or accessed against the Property or any
<br /> � part IherooT. �
<br /> I 7. Eminent Domaln. LRnder�s hQreby assigned all compensation,awards, damagos and other payments or relfef(hereinafter �
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