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<br />200003584
<br />Q
<br />TRUST DEED
<br />THIS TRUST DEED is made this 25th day of April
<br />2000
<br />by and between the Trustor,
<br />Donald E. Jenkins and Donnette K. Jenkins , husband and wife
<br />11�
<br />(herein "Borrower "), Security Federal Savings, a Federal Savings Bank
<br />(herein "Trustee "), and the Beneficiary, Security Federal Savings, a Federal Savings Bank
<br />p
<br />(herein "Lender ").
<br />BORROWER, in consideration of the Indebtedness herein recited and the Trust herein created, irrevocably grants
<br />and conveys to Trustee,
<br />in trust, with the POWER
<br />OF SALE, the following described property located in the County of Hall , State
<br />of Nebraska
<br />LOT THIRTY -THREE (33), IN BLOCK "D ", IN PARKVIEW SUBDIVISION,
<br />LOCATED IN THE NORTHEAST
<br />QUARTER (NE1 /4) OF SECTION TWENTY -NINE (29), AND THE NORTHWEST QUARTER (NW1 /4)
<br />OF
<br />SECTION TWENTY -EIGHT (28), ALL IN TOWNSHIP ELEVEN (11), NORTH
<br />OF RANGE
<br />NINE (9), WEST
<br />OF
<br />THE SIXTH (6TH) PRINCIPAL MERIDIAN, HALL COUNTY, NEBRASKA
<br />TOGETHER with all buildings, fixtures, and improvements now or hereafter erected thereon and all rights -of -way, easements, leasehold interests rents, issues,
<br />profits, Income, tenements, hereditaments, privileges, appurtenances, royalties, and mineral, oil, gas and water rights thereunto belonging, used or enjoyed with said land
<br />or any part thereof, all of which, including replacements and additions thereto shall be deemed to be and remain a part of the property covered by this Trust Deed; and
<br />all of the foregoing together with said property are herein referred to as the "Property ". Borrower further pledges and assigns to Lender all right, title and interest to
<br />any and all monies on deposit with any city, county, public body or agency, sanitary district, gas and /or electric company, telephone company and any other body or
<br />agency for installation or to secure the installation of any utilities or improvements pertaining to the Property.
<br />TO SECURE to Lender the repayment of indebtedness evidenced by Borrower's note dated April 25th 2000 (herein
<br />"Note ") in the principal sum of $ 15,000.00, with a final maturity, if not sooner paid, of May 18t 2005
<br />and as security for any future advances that may be made by Lender to Borrower from time to time and as security for the payment of any and all other indebtedness
<br />of the Borrower to the Lender which may now exist or hereafter arise, all of said sums not to exceed in the aggregate a sum equal to three times the original principal
<br />amount of the above recited Note.
<br />BORROWER covenants that Borrower is lawfully seized of the Property hereby conveyed and has the right to grant and convey the Property, that the Property is
<br />unencumbered by any mortgage, trust deed, contract to purchase, or otherwise, except for a prior lien
<br />in favor of Security Federal Savings on which the unpaid balance on this date does not exceed
<br />$ %4,693 . Borrower covenants to comply with all the terms and provisions of any prior mortgage, trust deed or
<br />contract to purchase, upon the Property and to make all payments thereon before they become delinquent. It no name or amount is inserted in this paragraph, then
<br />Borrower covenants that there are no prior liens of any kind upon the Property. Borrower further covenants to warrant and defend the title to the Property against all
<br />claims and demands. Borrower agrees to execute and deliver from time to time such further instruments as may be requested by Lender in form and substance
<br />satisfactory to Lender to confirm the lien of this Trust Deed on any of the aforementioned Property.
<br />Borrower and lender further covenant and agree as follows:
<br />1. Borrower shall promptly pay when due the principal and interest on the Indebtedness evidenced by the Note.
<br />2. At least ten days before they become delinquent, Borrower shall pay all taxes and special assessments levied or assessed against the Property, or any part
<br />thereof, and all taxes, levies and assessments levied upon this Trust Deed or the debt which it secures and all payments or monetary obligations required of the owner
<br />of the Property under any covenants, declaration, agreement, conditions or restrictions pertaining to the Property or any modification thereof. In the event of the
<br />passage of any law changing the collection of such taxes or assessments so as to impair the security of this Trust Deed or the holder hereof or changing in any way
<br />the laws for the taxation of Trust Deeds or debts secured by Trust Deeds for state and local purposes the Lender shall have the right to declare all sums secured
<br />hereby due and payable in full as of a date to be specified by not less than thirty (30) days prior written notice to Borrower, provided however, that such election shall
<br />be ineffective if Borrower is permitted by law to pay the whole of such tax in addition to all other payments required hereunder and if prior to such specified date does
<br />pay such tax and agrees to pay the same when levied or assessed thereafter before delinquency.
<br />3. Borrower shall keep the improvements and buildings, if any, upon the Property insured, with a company or companies approved by the Lender, for an amount
<br />not less than the unpaid balance on the indebtedness secured by this Trust Deed with a standard mortgage clause with loss payable to the Lender. If the Property is
<br />now or hereafter located in a flood hazard area, Borrower shall, at its expense, acquire and at all times maintain flood insurance on the Property in an amount for no
<br />less than the unpaid balance on the indebtedness secured by this Trust Dead with a standard mortgage clause with loss payable to the Lender. Lender may charge
<br />Borrower a reasonable fee for the cost of determining whether the Property is in a flood hazard area. If requested by Lender, the Borrower shall obtain and at all times
<br />maintain comprehensive general public liability insurance on the Property for an amount not less than $1,000,000.00 per occurrence with an aggregate coverage of
<br />$2,000,000.00 and an umbrella policy in an amount not less than $1,000,000.00. Borrower shall deliver said policy or policies to the Lender.
<br />In the event of a loss, Borrower shall give prompt notice to the insurance carrier and the Lender and file a proof of loss. If the Borrower is not otherwise in
<br />default, the Borrower may elect to apply the insurance proceeds to repair or replace the damaged Property, if economically feasible, and the security of this Trust Deed
<br />would not be impaired. If the Borrower is in default under this Trust Deed or the Note or if Borrower elects not to repair or replace the damaged Property or repair or
<br />replacement would not be economically feasible or the security of this Trust Deed would be impaired then the insurance proceeds shall be applied to the last maturing
<br />payments due on the Note. If the insurance proceeds are in excess of the total amount secured by this Trust Deed, the excess shall be paid to the Borrower. Insurance
<br />proceeds for repair or replacement shall be placed in escrow with the Lender and disbursed by Lender during or upon completion of such repair or replacement.
<br />4. Upon the request of Lender, for the purpose of providing a fund for the payment of taxes, special assessments and insurance premiums, Borrower shall
<br />deposit with Lender, on the dates that payments are due on the Note, an amount equal to the taxes, assessments and insurance premiums next due (all as estimated
<br />by the Lender, less amounts already deposited therefor) divided by the number of payments on the Note that will become due prior to the date when such taxes,
<br />assessments and insurance premiums will become due and payable. In addition Lender may require Borrower to make an initial escrow deposit and to maintain an
<br />escrow cushion during the term of this loan to the extent permitted under state law or federal law or regulations applicable to federally related mortgage loans,
<br />whichever is greater. Said funds will be held by the Lender in a non - interest bearing escrow account for the purposes set forth above. If the amounts of these
<br />deposits are not sufficient to pay taxes, assessments and insurance premiums as they become due, then Borrower shall upon request, pay Lender the amount necessary
<br />to make up the deficiency.
<br />F12655.LMG (2/96) Page 1 of 3
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