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69 102169 DEED OF TRUST R. Mark Sullivan and Karen 7111S DEED OF TRUST, mode this 27th day of April 19 89 by and among L. Sullivan, husband and wife, whose maifmg address is Rt. 1, Doniphan, Nebr. 68832 (herein "Truslor "); and MST NATIONAL RANI[ t TRUST COMPANY IN AURORA, whose moifing address is 1101 12Th Street, Aurora, Nebraska 68818, ( herein " Trustee" and "Beneficiary "). FOR VALUABLE CONSIDERATION, including the indebtedness indentified herein and the trust herein created, the receipt of which is hereby acknowledged. Truster irrevocably grants, transfers, conveys, c d assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary. under and subject to the terms and conditions of this Deed of Trust, the real property described as follows+ the East Half of the Northwest Quarter (EzNWI) and the North Half of the Northeast Quarter (NNE1) (except the East 60 acres) of Section 35, Township 10 North, Range 9 West of the 6th P.M., Hall County, Nebraska, the North Half of the Southeast Quarter (N;SE,i) of Section 1, Township 9 North, Range 9 West of the 6th P.M., Hall County, Nebraska, the South Half of the Southeast. Quarter (SzSEr' -,) of Section 1, Township 9 North, Range 9 West of the 6th P.M., Hall County, Nebraska, SUBJECT TO A PRIOR LIEN evidenced by a Mortgage dated Febr. 19th, 1987 and filed w Febr. 24th, 1987 in Hall County records as instrument #87- 101017 TOGETHER WITH, all rents, profits, royalties, income and other benefits derived from lire real property; ail leases or subleases covering lire real properly or any portion thereof, now or hereafter exislirg or entered into, and all right, title arrd interest of Truster thereunder; allin- lerests, estate or other claims, both in law and in equity, which Truslor now has or may hereafter acquire in lire real property; all easements, rig!rls -of -way, tenements, heredi:oments and appurtenances thereof and lherelo: all oil and gas rig(ds and profits, water rights and water stock; all right, title and interest of Truslor, now owned or hereafter acquired, in and to any land• lying within the right -of -way of any street or j highway adjoining the rea! properly, any and all buildings, fixtures, improvements, and oppurtenonces now or hereafter erected thereon or belonging thereto, (herein referred to as "Improvement" or "Improvements "); and any and oil awards made for the taking by eminent da:noin or by any proceeding or -hose in lieu thereof, of the whole -,,r any part of the recd properly. All o, ;ire foregoing e:: te, property and interest hereby conveyed to Trustee herein collectively referred to as the "Property". THIS DEED OF TRUST SHALL SECURE: (o) The payment o.` indeble,iness evidenced by Austor's note of even date herewith in the principal sum of Inv hiind red r on r Y seven thousand five hundred and no /100ths -------------- - - - - -- Dollars (5127,500.00 I. together with interest at lite rote or rates provided (herein, (herein, together with any and all renewals, modifications, and extensions thereof, j referred to as the "Note ") both principal and interest on li,e Note being payable in accordance with the terms set loch (herein, reference to which is hereby made, the final payment of principal and interest, if not sooner poid and if no renewals, modifications or extensions are mode, 1 due and payable on December 15th, 2009 - - -• (b) The performance of each agreement and covenant of Truslor herein contained; and i (c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or advanced under the terms of this Deed of Trust. (d) The payment of any future advances necessary to protect the security or any future advance made at the option of the ponies; and (e) The performance of on obligation of any other person named in this Trust Deed to a beneficiary. TO PROTECT III[ SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS A14D AGREES AS FOLLOWS: 1. Payment of Principal and !nlerest. Truslor shall promptly pay when due the principal of awl interest on the indebtedness evidenced by the m Note, and all other charges and fees as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed of Trust. 2. Warranty of Title. Truslor is lawfully seized and possesses of good and indefeasible title and estate to the Property hereby conveyed and has the righr to grant arid convey the Properly; the rrnperly is free and , lenr of oil liens and encumbrances except liens stow of record; and Trustor wili warrant and defend the title to the Properly agninsi all claims and demands. 3. Maintenance and Compliance with laws. Truslor shall keep the Property in good condition orxl repair and shall not commit waste or perm:r impairment or deterioration of the Properly and shall comply with the provisions of any lease if Ihis Deed of Trust is on a leasehold. No improve. meal now or hereafter erected upon the Property shall be oliered, removed or demolished without the prior written consent of Beneficiary. Truslor shall comply Drill, all laws, ordinnnces, regulations, covenants, conditions aril restrictions of fectirg the Properly and !•ot ronrmit, suffer, or permit any act to be done in or upon the Property in violation of any low, ordinance, regulation• covenant, condition or t - str(ction. Truslor shall complete or restore promptly and in good workmanlike manner any improvement on the Properly which may be deranged or destroyed and pay, when due, oil claims for labor performed and materials furnished therefore and for any operations thereof. 4. Insurance. Truster, at its expense, will maintain with insurers approvc.l by Beneficiary, insurance with respect to the Improvements and personal property, constituting the Property, against loss by fire, lightning, Inrnor,o, and other perils oral hazards covered by standard extended coverage endorsement, in on amount equal to at last one hundred percent of the full replocenrent value thereof and insuronce against such other hazards arid in such amaunts as is customarily carried by owners and operators of simulnr properties or as Beneficiary troy require for its protection. Truslor will comply with such other reg6remenis as Beneficinry may Iron time to time request for lice protection by insurance of the interests of the respective parties. All insuronce policies moinlained pursuant to this Deed o1 Trust shall nome Truslor and Beneficiary ns in• sureds, as their respective iWeresis may nPpeor, and provide trial there shell be no cancellation or modi(icution wile out rro less Ilion 15 doy%, prior written notification to Beneficiary. In the event any policy hereunder is not renewed on or before 15 days luilo its expiration date, Beneficiary may procure such insurance in accordance with the provisions of paragraph 7 hereof. Truslor shall deliver to Beneficiary the originol policies of insurance and enesrots thereof or memo copies of such policies nth] renewals thereof. failure to furnish such insurance by Truslor, or renewals as required hereunder short, at the option of Beneficiary, constitute a default.