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89-- '141918
<br />SECOND DEED OF TRUST
<br />THiS DEED OF TRUST, made this 14th day of April , 19 89 between
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<br />Ditch -Witch of Nebraska, Inc_ • as Trustor.
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<br />Fiftlier Bank, National Association, Omaha. Nebraska, as Trustee. and Risfiier Bank, National Association, Omaha. Nebraska, as
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<br />Beneficiary.
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<br />WI•TNESSETH:
<br />That Trustor irrevocably grants. transfers and assigns to Trustee in trust. with power of sale, the following described property:
<br />A tract of land comprising a part 'of the Northeast Quarter of the Northeast Quarter
<br />(NE>;rNE %) of Section Thirty Three (33) , Township Eleven (11) North, Range Nine (9)
<br />Wait of the 6th P.M., in Hall County, Nebraska, more particularly described as
<br />follows: Beginning at the southeast corner of said Northeast quarter of the
<br />Northeast Quarter (NE%NEh) ; thence westerly along the South line of said Northeast
<br />(juarter of the Northeast Quarter (P3 krmla) , a distance .'GE One Thousand Seven Tenths
<br />(1,000.7) feet; thence northerly, a distance of 'I%t o lTi — red Sixty Four and Eight
<br />Tenths_ (264,.8) feet; thence easterly, a distykmr.4 of O;zE Thousand and Nine Tenths
<br />(Lr000.93-fe- . to the east - .in:ze of said Sects �.: ,; .t5r `� .res ,33): thence southerly
<br />along. the .�as�_.; r, , f. sail✓ Section Thist• e� (33)„•: a` dist ance of Two Hundred
<br />s Sixty SIX "c'>:Tld N!me,`;T -6 'ths (2s=6.9) feet'tc+'E 'glace o� Lac
<br />sb(ec? ttyto that cer".ail Maftgags a ,Deed of Trust dated June 5, 1979 in favor of
<br />First National Bank ;of Grand Island (note Norwest Bank) (referredarelnafter as "First Mortgagee ")
<br />recorded in Book Document #79- a age of the Mortgage Records of County.
<br />Nebraska and securing the original principal sum of $ 125 ,000.00 which
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<br />Mortgage or Deed of Trust shall be referred to hereinafter as "First Mortgage'':
<br />together withal) interest Trustor now has or may hereafter acquire in and to said property and in and to: (a) all easements and rights of way
<br />appurtenant thereto; (b) all tenements, hereditaments, buildings, structures, improvements, fixtures. equipment, furnishings and
<br />appurtenances now or hereafter placed thereon; (c) all leasehold estate, right, title, and interest of Trustor in and to all leases or subleases
<br />I hereof or any portion thereof now or hereafter existing or entered into. and all right, title. and interest of Trustorthereunder , including, without
<br />knitation, all cash or security deposits. advance rentals, and deposits or payments of similar nature, and (d) all mineral, oil, gas rights, and
<br />profits, water, water rights and water stock. Trustor agrees to execute and deliver, from time to time, such further instruments as may be
<br />requested by Beneficiary in form and substance satisfactory to Benficfary to confirm the lien of this Deed of Trust on any of the
<br />aforementioned property. The property so conveyed to Trustee hereunder is hereinafter referred to as "such property".
<br />The Trustor absolutelyand irrevocably grants, transfers and assignsto Beneficiarythe rents, income, issues, and profits of all property,;
<br />covered by this Deed of Trust.
<br />FOR THE PURPOSE OF SECURiNG:
<br />1. Payment of the principal sum of Two hundred fifty thousand and no/100- e,.4dsnced by the eertakt promissory
<br />note date of even date herewith (hereinafter referred to as the " i immiyaolyNote ), daec uled by
<br />Ditch -Witch of Nebraska, Inc.
<br />in said amount and payable
<br />to the order of Beneficiary matr;ririg on April 14, 1994 ' ' "• :•ogether with intereso thereon. late
<br />charges, and peepayment bonuses according to the terms of the PatiN"I : my Abate and all rene*ats, extensions. and modifications
<br />thereof.
<br />2. Pen'wa►attce, discharge of an0.compliance with every obligation, covenant and oglx:; l►enf of 11n;ator incorporated by reference or
<br />ctvrailained herein or in any other security agreement or deed of trust at any time giyent i secu.* any indebtedness hereby secured, or
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<br />any part thereof.
<br />3. Payment of all fees and charges of Beneficiary or Trustee, whether or not set forth herein.
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR CCV' ENANTS:
<br />TITLE: That it is lawfully seitedandpossessedofagoodandlnodtoasibletitleandestatetoallofsuchpropertyInfeesimplefreefrom
<br />any prior lien or encumbrance except for the First Mortgage; that it has good right and lawful authority to convey the same, and will forever
<br />warrant and defend the title thereto against the claims and demands of all persons whosoever; that it will, at its expense, maintain and
<br />preserve the lien of this Deed of Trust as a second lien upon such property, subject only to the First Mortgage.
<br />MAINTENANCE: To keep such property in good condition and repair, to compteteor restore promptly and in good and workmanlike
<br />manner any building which may be constructed, damaged or destroyed thereon and to pay, when due. all claims for labor performed and
<br />materials furnished therefor and for any alterations thereof; to comply with the provisions of all insurance polices covering said premises, to
<br />comply with all laws, ordinances, regulations, covenants. conditions and restrictions affecting such property; not to remove, demolish or
<br />materially after any building, or the character or use thereof at any time thereon; not to drill or extract nor to permit the drilling for or extraction
<br />of oil, gas or other hydrocarbon substances. water, or any miftelalof any kind unless the written consent of Beneficiary is obtained; not to
<br />commit or permit any waste thereof or any act upon such Pro" In violation of taw; to doall other acts in atimely and proper manner which
<br />form the character or use M such property may be reasonably necessary to protect and preserve sold security, the specific enumerations
<br />herein not excluding the general.
<br />CONSTRUCTI N+tOF1MPROVEMENTS: Tacomplete in goodandworkmanlike marnerany building or improvement orrepair relating
<br />theretoOkich maybe begun on sut z; rropertyor0ontemptatedbythebansecuredhere�y, tGpay when dueallcosts and liabilities incurred
<br />there ,w, atld not to permit any - Teoi#nie's lien vsinst such properfri. lrru9`.or also 97 . Anything 1rt.this Deed of Trust to the contrary
<br />rotw"�eutkxfing: "all tt, promptly, =,enmence wKst1k and to complete tte pripased imn eaVa-.Ierts ptumpiiy; (b) to complete the same ir
<br />accordWe wil ^parrs and spent bitions et" �jmd by EM Jeficiary; �;�,)to. rom0f OW, a;l of the teim9 of any building loan a +ter eta
<br />bvtGrcc'•'f ritatCri �n wl rtificiar . ftri terms of Mtwara it �aTW111tWhereln I,;% ►ef6rsreA 1; thesame Gment as if fully set forth he e ► and
<br />made a.W of this Deed of %V, ,ir:to allow Beneficiary ic..tWp+, t.suct► 7 �,
<br />G ,,9ry a a:flI rAs during construction, and. (a) to rep,ace any
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<br />work airm agerials ary, within tiftd}�i•, (;15) day$ after written ✓✓.►Brie from Bereaiiaory c� 0.4e, fact, which notice may beg :.ven to Tru-va• tsy
<br />regiStf b 0f Certified 4'Uili' . Sera *t1 NO last knowh.addresy..W lei persortiatit wto ", V LitvsL.-_71e.
<br />FiRE. CASUALTY; AND OTHER INSURANCE T6 keep such property insured against loss or damage by fire'and other risk or risks
<br />which. in00 Ids 00"ionol6W*% *.V should be insured against. under policies ofinsurence with loss payabtetoBenefidary andtheFirst
<br />Mortgsrgae as their i*Uerepa may wear in form, amount and companies acceptable to Beneficiary. Said policies shall be delivered to and
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<br />remain in possestiion of 59nd iciery 44 further security for the faithful parfOrmance of these obligations, which delivery shall constitute an
<br />asslrment by Trustor to Beneficiary of all rights thereunder. including all return premiums; to deliver to Beneficiary a policy or policies
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<br />fenevring Of extending any expiring insurance with a receipt t<hOw" premiums paidat least thirty (30) days before expiration. if Trustor fails
<br />to so detnrer any renewal policies, 8enaliclaay may procure such insurance as 0 may elect and may make payment of premiums thereon.
<br />wft#ch pd /?Went is repayable on demand Neither Trustee rroi Beneficiary Shall ba responsible for obtaining of maintaining such insurance
<br />Beitef:ciary. from time to tame, may furnish to any insurance agency
<br />at company, or any other person, any infurmation contained in or
<br />eittracted from any insurances polity theretofore defivoted to Benolit:igry pursuant faefeto and any information ronremm+0 the loan
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