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<br /> 9���'Q033
<br /> This D� O� TRU�ST is t�dP thisy�.,�y of Q�cember � 19 89 � by and amor�g
<br /> r Lester Claussen . , herei�
<br /> referr�.�c1 ta tis "75rustorFS," whe4t�er one or morp, wh�nP +iwi 1 ing addresR .
<br /> : is P.Q. Box 223, Cairo, NE 68824 � �_�p� � p�
<br /> �, a► Neb�raska Bnnkina Corno�ration, hereinafter referred to as "Trustee," whose me►iling
<br /> address is Box 428, Gairo NE 68�24; and � �T,�I�K OF Cpiiip, a Nebraqloa Benkina
<br /> Oo�rao�atian, hereinafter referr�d to as "Be�ief3.cisrq," whose m�,tiling address is Box 428,
<br /> Cairo, NE 68824.
<br /> For val.uable consideration, Tru.gtors irrevocably gr�ant, transfer, convey and assign to
<br /> Trustee, in truat, with power of ssle, for the benefit and security of AeneFiciary� under
<br /> and subject to the fcern�s and conditions of this Deed of Tr�2st. the fallowing described real
<br /> property located in Hall Cowity, Nebraska:
<br /> Lot 6, Block 11, Or�ginal Town of Cairo,
<br /> Hall County, Nebraska
<br /> together with all buildings, improvements, fixtures, streets, alleys, passageways,
<br /> - easements, rights, privileges and appurtenances located thereon, and all personal property
<br /> that may be or hereafter become an integral part of such buildings and improveanents, all � .
<br /> crops raised thereon, and all water rights, all of which, including replacements and ` .
<br /> additions thereto, are hereby declared to be a part of the real estate conveyed in trust � -
<br /> hereby, it being agreed that all of the foregoing shal.l be hereinafter referred to as the i =
<br /> - -�Yroperty.' ;y.�,'
<br /> F10R � PlIRF'O6E OF SF7CURING: _
<br /> a. Payment of indebtec:ness evidenced by �ustors' nate of even da�te herewith in the � -
<br /> principal s� of = 30,OQ0.00 , Logether with intere5t at the rate or rates provided ';
<br /> therein, and any and all renewals, modifications and extensions of such note, both ��
<br /> principal and interest on the note being payable in accordance with the terms set forth
<br /> therein, which by this reference is hereby made a part hereof;
<br /> b. The perfoi7nance of each agree.ment and covenant of Trustors herein contained; and
<br /> � c. The payment of all swbs advanced by Beneficiary iuider the terms af this Deed of r
<br /> Trust, together with interest thereon at the rate provided in the note.
<br /> - .�-:
<br /> '1�0 PHOI'DCP '!�� SBCURITY OF �iIS D� OF �Ri1S7t`, TT�JSRPQI�S I�Y O�N�IANP AIm AQ�F.E: :�
<br /> l, To p��when due, t�e principsl cf, an4 the interest on, the indebtedness evi�es� by the nate, charges, fees ar,d all at�er sues as provided � �
<br /> :,�,.
<br /> in t6e loan inatru�eats.
<br /> !. Trustors are the o�ners of t�e pranertp and have t6e right and authority tc execvte this �ee� ef Trust in respect to the property. -
<br /> 3. °o pap, �hen due, nll taxes, speciai asaessvents an� all other charges against t!:e property, befote t�e sate becaae delinquent. Trustors �-"
<br /> shall pay all taxes acd asseas�tents vhich eay be levied apon Beneficiary's ietertst Aerein or upan tl�is Deed af Trust or the debt secured hereby,
<br /> ritbant regud ta aep lav that u� be eaacted iiposing pantnt ot the�hole or any part tAereof upon tae Beneficiary.
<br /> !. To keep tl�e iapro:�esents eov or 6ereafter l�cated an tGe pro}�erty insure� agaiast d�age 5p iire and such ather h�Ms as the 9eneficiarp
<br /> oay reguire, ia e�o•�nts end coepnniea acceptable to the Beneficiuy, 5uch insurance palic� shall contair, a ataedard�ortgage clause in favor af
<br /> . Beneficiery. 'l7uator shal: prceptlp repnir, eaintaia and replace the propertp or an� pazt thereaf� so that, eicept fo: ordinat� �+ear and tear, the
<br /> property a�ll not deteriorate.
<br /> 5. Fn the event the prc�er�y, or�.�p :art thereof, srall �e taken by e�inent de�ain, �he Eeneficiary is entitled ta collect ar,d re�eive ail
<br /> capensation vhich iay be p3id for aay;,r�pe;�y taf�en or for daieges t� praperty not taken. aed the tleneficiary s^a,� apply sach co�Fensation, at its
<br /> option, either ta a reductian af the ie�e:�;:�ess secure� 'tereby, ar ta repair end testote t6e ptapertp sa tagen.
<br /> i. TAe 8eneficisry ur. �at ahall h�ve no orligatiac !o, do any nct which 'frustars have agreed but failed to da, ana tfie Beneficinry taq aleo do
<br /> n�� ect it dens r�ecessarp �:a protect the lien hereof. Sr;;stars e ee to re '---��--
<br /> gr pay, �poe de�nnd, any su�s so egpended by the Beaeficidry for the a6ave ,
<br /> purpoaes, and qny su� so eipealed sl�all be ndded to ti�e indebtedr.ess secvred nereby an� 6�c�se sec�red by the lien hereef. The Beneficiary shall no
<br /> iccur any li�i.:.y because of anythieg it�ay Go flr ait to do pereur•ce�.
<br /> 1. T�e ic�tticinry ehall Anve *.Ge rtght, power and autr�erity during the continunnce of thia Deed of 5rust to cellect the rents, issues and �
<br /> i
<br /> profi±s cf b�e propert�an3 cf aay �ersa^al properLy located tAeteon with or Nithaut taking Fossession of the �r;F^rty affected herebp, asd Trusters
<br /> �ereDy aosa��Lely aad w:o*,�itiar.9ily essign all such rent�, iae�es and Yrofits to t�e 6eneficierp. Yce n�neficiary, hoscever, 6erebp consents t�
<br /> � Sy�str*s' c�i�e�!ica:�d retention of sucn rente� 15SllP.5 dLd prafiLs, so lor.g es �rustore are not. s! ssc� �ioe� :n �efault Wit, respect ta Faytent �f
<br /> Le�,y �c�PJlF11:PQa seraretl r,ere.p, cr �n r�e perfar¢esce ef asy agreesent Gereu�der. lf nnp E�C(1. ]� 9efa::lt C�scr:sed her^gfter �n respect ::� t},is
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