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<br />Deed of Must
<br />(Nabrasite)
<br />This Trust Deed, made this 18th day of April
<br />89-=- 102448
<br />,19 89
<br />between Arlene nelson (also known as Arlene B. Nelson) and Milford R. Nelson,
<br />wifeand husband ---- -- ----------------- -- ----------------------------------------
<br />whoseaddressis 3121 Woodridge Blvd., Grand Island, Nebraska 68801 ,Trustor,
<br />and Vincent L. Dowding , whose address is P. 0. Box 190
<br />Trustee, Grand Island, KE 68802
<br />Wltnessettr That Whereas, Trustor has executed one certain Promissory Note bearing even date herewith and
<br />drawn to the order of Metropolitan Life Insurance Company, hereinafter called Beneficiary, for the principal
<br />sumof -------------------------------------------------------------------- --- - --
<br />------------------------ - - - - -- -ONE HUNDRED EIGHTY THOUSAND---------- - - - - -- Dollars
<br />($ 180, 000.00 ),payable in lawful money of the United States which shalt be legal tender in payment of all
<br />debts and dues, public and private, at the time of payment, with exchange on the City of New York, payable in
<br />installments, the final installment due January 15, 2005 , with interest thereon from the
<br />date thereof as therein provided.
<br />And Whereas,,Trustor is desirous of securing the prompt payment of said 'Promissory Note and all interest and
<br />charges thereon, in whose hands soever the same may be.
<br />Now, therefore, Trustor, in consideration of the premises, and for the purpose aforesaid, hath granted, bar-
<br />gained, sold, and conveyed, and hereby does grant, bargain, sell and convey unto the Trustee, in trust, with
<br />power of sale, pursuant to the Nebraska Trust Deeds Act (Section 76 -1001 et. seq.), all the following described
<br />r4al estate, premises and property, situate in the County of Ha 11 and State. of Nebraska,
<br />to-wit:
<br />The West Half of the Northwest Quarter of Section 25 and the Northwest Quarter
<br />of Section 36, ALL in Township 9 North, -,ff .nge 9 West of the Sixth Principal
<br />Meridian; Hall County, Nebraska, together with all crops grown thereon.
<br />This Deed of Trust is given to secure a Deferred Purchase .Money Note, which
<br />represen..s funds advanced by Beneficiary to pay for the balance of the purchana
<br />price paid to the grantor for said land and is to be deemed given for the
<br />pii:albase price and the continuation of the original Vendar's lien on said
<br />precisws.
<br />The Iote secured hereby expressly provides, that the holder thereof may at its
<br />option cb:i=ge or adjust the interest rates rie_t forth therein.
<br />The Note se,.ured by this Deed of Trust is further secured by a Financing
<br />St'ste--ea_t. snd Security Agreement of even date herewith, covering said irrigation
<br />eqr;l.r.L,•zaent 2s described in said Financing a^t.at".ent and Security Agreement.
<br />It is agreed that all irrigation pumps, electric motors, enginia&, pipe:y,
<br />sprinklers, control panels and accessories, and all other irrigation equipment
<br />connected therewith now or hereafter placed or installed on said premi-,r;,
<br />together with all water and watering rLg;hts of every land and descripti• :n
<br />shall be construed as affixed to and a part of the real estate hereinabove
<br />described and subject to all of the i.r-�:iaions of this Deed of Trust.
<br />Beneficiary shall have the right, power and authority during the continuance of
<br />this Deed of Trust to collect the rents, issues and profits of the property and
<br />of any personal property located thereon with or without taking possession of
<br />the property affected hereby, and 'Trustor hereby absolutely and-.n 11conditionally
<br />assigns all such rents, issues and profits to Beneficiary. Beneficiary,
<br />however, hereby consents to Trustor's collection and retenti -sa of such rents,
<br />issues and profits as they accrue and become payable, so long as Trustor is not,
<br />at such time, in default with respect to payment of any indebtedness secured
<br />hereby, or in the performance of any agreement hereunder. if any event of
<br />default described hereafter in respect to this Deed of Trust shall have occurred
<br />and be continuing, Beneficiary, as a matter of right and without notice to
<br />Trustor or anyone claiming under Truatcr, and without rrbaid tv Lii, vale c vi U—it.
<br />trust estate or the interest of the Trustor therein, shall have the right to
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