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<br />10.5 p 10061 F01on R Wolt M111011 Ur 6 8161
<br />DEED OF TRUST
<br />THIS DEED Ole' TRUST, is -made as of the 30 —day of 3anuary , 1,) 89 by and among
<br />leanenne E. anti Lawerence K. Hankinson ( "Trustor`), whose mailing address is
<br />3130 West 14th Street,Gra!nd Iskand,Nebr.68803
<br />( "Trusts "). whose mailing address is
<br />MB-LAND REALTY TRUST ACCT.
<br />1821 N Haneock,Grand Islartd,Nebr.68803
<br />and Charlie C. Gary L. and or David C. ( "Beneficiary ") whose mailing address is
<br />Schmidt,1821 N Hancock,Grand Isllnd, Nebr.65803.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms
<br />and conditions of this Deed of Trust, the real property located in the City of Grand Island County of
<br />HALL State of Nebraska, and legally described as follows (the "Property "):
<br />Lots 1,2,and 3 Ravenoaks Sub. In the City of Grand Island, Nebr,
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all
<br />water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trost Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtness in the total principal amount of $
<br />31, 0 0 0.0 0 , with interest
<br />thereon, as evidenced by that certain promissory note of even dale (the "Note'') with a..maturity date of
<br />J gnu a r y J0 /-_l 9 9 2 , executed by Trustor, which has been delivered and is pay-able to the order of
<br />Beneficiary, and which by this reference is hereby made a part hereof~ and any and all modifications, exten-
<br />sions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate
<br />of 14-51 _ nareent. t 3 4.5_R'a) per• annum. This II*ed ofTrust, the Note, and any other instrument given to evidence or furthersecurethepayment and
<br />performance of any obligation secured hereby are referred to collectively as tote "Loan Instruments ".
<br />TO PRarzECT THE SECURITY OF THIS DEED OF. .'T RUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when dtie -the principal of, and the interest on, the
<br />indebtedness evidenced by the Note, charges, fees and all other sums as provideck ip the Loan Instruments.
<br />2. TAXES. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereafter
<br />levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and shall provide
<br />Beneficiary with evidence of the payment of same. Trustor shall pay aA taxes and assessments which may be levied
<br />upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that .
<br />may be enacted imposing payment of the whole or any part thereof upon the Beneficiary.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and not extended coverage insurance insuring the:,
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note (co-insurance not exceeding Suipermitted). Such insurance policy shall contain
<br />a standard mortgage clause in favor of Beneficiary and shall not beeaacellable, terminable or modifiable without ten
<br />(10) days prior written notice to. Beneficiary. Truster shall promptly repair, maintain and replace the Trust Estate or
<br />any part thereof so that, except for ordinary wear and tear.,the Trust Estate shalinot.deteriorate. In no event shall the
<br />Trustor commit waste an or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary
<br />or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in
<br />any of the Loan Instruments, Beneficiary and /or Trustee, each in its own discretion, without obligation so to do and
<br />without notice to or demand upon Trustor and without releasing Trustor from any obligation, may make or do the
<br />same in such manner and to such extent as either may deem necessary to protect the security hereof. Trustor shall,
<br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection
<br />with the exercise by beneficiary of the foregoing rights, including without limitation costs of evidence of title, court
<br />costa, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten (10) days of written
<br />demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken or damaged by
<br />reason of any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condem-
<br />nation ( "Condemnation "), of should Trustor recive any notice or otherinformation regarding such proceeding, Trustor shall
<br />give prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to allcompensation, awards and other pay-
<br />ments or relief therefor, and shall be entitled at its option to commence, appear in and.prosecute in its own name any action
<br />or proceedings. Beneficiary shall also be entitled to make any compromise or settltsnent in connection with such taking or
<br />damage. AN such compensation, awards, damages, rights of action and proceeds dwarded to Trustor (the "Proceeds') am
<br />hereby assigned to Beneficiary and Trustor agrees to ex. mite such further assignmgr -ta of the Proceeds as Beneficiary or
<br />Trustm -may require.
<br />6 ''APPOINTMENT OF SUCCESSOR TRUSTEE: Beneficiary may, from brute to time, by a written instrument
<br />executed and acknowledged by Beneficiary. mailed to Trustor.' and Recorded in the County in which the Trust Estate is
<br />located and by otherwise complying with the provisions of tl'ie applicable law ofthe State of Nebraska substitute a successor
<br />or succeisors to the Trustee named herein or acting hereutdE*.
<br />7. SUCCESSORS AN D ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto .
<br />their heirs, legatees, devisees;, personal representatives, successors and assigns. The term "Beneficiary" shall mean the
<br />owner and holder of the Note. whether or not named cis Beneficiary herein.
<br />8. INSPY.f'rIONS. Runeficiary. or its agents, representatives or workmen. sire authorized to enter at any reasonable
<br />time upon or in tiny part of tht, Trust Estate for the purpose of inspecting the Game and for the purpose of performing .niy d
<br />the iteu it is authorizeel to mrfurin under the terms of anv of the Loan Instrument.-:.
<br />Jr.-
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