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<br />.100136
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<br />Husband and Wife
<br />DEED OF TRUST
<br />71115 DEED OF TRUST, mode this 28.„ ..............doy of Dec _, 14 88 _ by t,r� o,,,ar,g Scott 0. and Mary Ntw SahliM
<br />whose moiling address is 1420 Coventry Place, G.I., Ne. 68801 (formorly Mary I. Schultz)
<br />— (herein "Truster"); and Bank of Wood River , whose mailing address P.O. 487, Wood River, Ne.
<br />( herein "Trustee" and "Beneficiary,).
<br />FOR VALUABLE CONSIDERATION, including the indebtedness indentilied herein and the trust herein created, the receipt of which is hereby
<br />ocknowltdged, Trustor Irrevocably grants, transfers, conveys, and assigns to Trustee, iN TRUST, WITH POWER OF SALE, for the bottofit and
<br />security of seneticimy, under and subject to the terms and conditions of this Deed of Trust. the real property described as followst
<br />Lot Six (6) in Block Two (2) in Normandy Estates an addition to the City
<br />of Grand Island, Ne.
<br />TOGETHER WITH, all rents, profits, royalties. income and other benefits derived from the real-property; all teases or subleases covering the
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<br />real property or any portion thereof, now or hereafter existing or entered into, and all right, title and intecsst of Truslor thereunder; all in.
<br />- .. _ .-. _- _ !___ rL..L !_ _w _.-J • h T 1-. -... r .w im � oft—re y; nt a ea en
<br />ieresiS, eSiata t7r trtltttr tldttn>;. tlYtlt tut err Ylw ii {tjuit�, �I�.r. tti�71V –r iwtS.Na w ::•fir hvrc�aif.a= �.+'s � • -•� +�� property; •••i .a....[.^.�..t s,
<br />rights -of -way, teneirtents, herteditomehts and appurtenances thereof and thereto; all oil and gas riots c.W profits, water rights and water
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<br />stock: oll right. title and interpsi ai Trustor. no* ovined or hereafter acquired, in and to any land lying within the right•of -way of any street or
<br />highway adjoining the real property,. gny'grT d aff b� rF i, s, fixtures, improvements, and appurtenances now or hereafter erected thereon or
<br />belonging thereto, (herein referred: ivt.trs, " ItirpIroverteertt" or "Improvements"); and any and all awards made for the taking by eminent domain
<br />or byony proceeding or purchaseihlieu thereof, of the whale or any part of the real property.
<br />Al of the foregoing estate. property and interest Itesebr conveyed to Trustee herein collectively referred facts the "Property".
<br />THIS DEED Of TRUST SHALL SECURE,
<br />(a) The payment: of indebtedness evidenced by Truster's note of every dote herewith in the principal sum of - -
<br />Thirty- th6usand Dollars :ES ,411 -M !.
<br />together with interest nit fire rate or rates provided therein, (herein, together with acy and all renewals, modifications, and extensions thereof,
<br />referred to as the "Note" yb¢f'iv�p'n cipal and interest .on. the Note being payable in-accordance with the tennis set forth therein, reference to
<br />which is hereby made, the f indf payment of-prirapef acid interest, if not sooner paid. and if no renewals, modifications or extensions ore made,
<br />due and payable on October 15,. 11;$3 ,
<br />(b) The performance of each agreement and covenant of trustor herein contained; oad
<br />it hereof ter under the terms of this Deed of
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<br />(c) The payment of any sum or sums of money with evest thereon which maybe paid or advanced
<br />t
<br />Trust.
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<br />(d) The payment of any future advances necessary to protect the security or any future advance made at the option of the parties, and
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<br />(e) The performorice of on obligation of any other person named in this Trust Deed to o beneficiary.
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<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSiOR HEREBY COVENANTS AND AGREES AS FOLLOWS:
<br />1. Payment of Principal omit interest. Trustor shall promptly pay when due the principal of and interest on the indebtedness evidenced by the
<br />Note, and all other charges'and fees as provided in the Note, and the principal of afrid firterest on any Future Advances secured by.tlKs need of
<br />Trust,
<br />2. WwnWr of Title. Trustor Is lawfully:Sefzed and possessed of good and indefeasible title a(rf estote to the Property hereby cetweyed and
<br />has the right to: grant and convey the Property; the Property is free and clear of all liens and encumbrances except liens now of record; and
<br />Trustor wilt warrant and ditead the title to the Propertyr..agalost all claims and demands:: -
<br />3. MaiatanarM' ' went Cimpiliattce with laws. Truslot; si 0 keep the Property in good 'ecadition.and repair and scroll not commit waste or permit
<br />impairment: or daferiorolion of the Property and shall �ar;ply with the provisions of any tease if this Deed of Trust is on a leosehold. No improve-
<br />ment now or hereafter erected upon the Properly shdi. be altered, removed or demalisl;ed without the prior written consent of Beneficiary.
<br />Trxistor shollcomply witholl laws, ordinances, regulatirxts=A covenants, conditions and restrict ions affecting the Property and not commit, suffer,
<br />or permit any act to be done in or upon the Property -violotion of any law, ordinal ce, regulation, covenant, condition or restriction. Trustor
<br />shaft complete or restore promptly and in good workmanlike manner any improvement on the Property which may be damaged or destroyed and
<br />pay, when due, all claims for labor performed and materials furnished therefore and for any alterations thereof.
<br />4, tnswence. Trustor, at its expense, will maintain with insurers approved by Beneficiary, insurance with respect to the Improvements and
<br />potonal property, constituting the Properly, against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended
<br />t >ovrwage endorsement, in on amount equal to at feast one hundred percent of the full replacement value thereof and insurance agar rst such
<br />other hotards and in such amounts as is customarily carried by owners and operators of simular properties or as Beneficiary may requera for its
<br />ptotectiort. Trustor will comply with such other requirements as Beneficiary may from time to time request for the protection by insurance of the
<br />interests of file respective parties. All insurance policies maintained pursuant to this Deed of Trust stroll name Trustor and fteneficiciV as in-
<br />sureds, as their respective interests may uppeor, and provide that there shall be no cancellation or modification without no less than "15 days
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<br />prior written notification to Beneficiary. in the event any policy hereunder is not renewed on or before 15 dnys prior to its expiration data.
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<br />Deneficiary may picture such insurance iii accordance with the provisions of pnrayraph 7 hereof. i ostor shall deliver to Ilr•neficior y ih^ oririi,ml
<br />Politic?. of insur (tilt r' find renewals t tier color memotopir,s of such policies anti rpnnwnls Iherpnf. foilmv I furr11S11 curl, i'rt'if(wrf• I,y Ir 1,%Im of
<br />renewals cis rnp!med hereunder shall, eft file option of BertehEimy. constitute a defuulr
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