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<br />SKA DEED OF TRUST
<br />'ith (iftr•of Sale)
<br />THIS DEED OF TRUST, ii] day of JUNE � ? 2001 �
<br />between MARVIN M SORENSEN AND ROSE AND WIFE,A� JOINT : TENANTS.
<br />whose mailing add essis 409 W 14TH ST, GRAND ISLAND, NE 68801 as
<br />Trustors,STEWAR TITLE GUARANTY COMPANY
<br />VV
<br />whose mailing address is 1220 WASHINGTON STE 100, KANSAS CITY, MO 64105 , as
<br />Trustee, and Wells Fargo Financial Nebraska, Inc., whose mailing address is 2319 NORTH WEBB RD, GRAND ISLAND, NE 68603
<br />, as Beneficiary,
<br />WITNESSETH, Trustors hereby irrevocably, grant, bargain, sell, and convey to Trustee in trust, with power of sale, the following described
<br />property in HALL County, Nebraska:
<br />LOT TWO (2), BLOCK NINE (9), SCHIMMER'S ADDITION, CITY OF GRAND ISLAND
<br />, HALL COUNTY, NEBRASKA
<br />Together with tenements, hereditaments, and appurtenances thereunto belong#ng -or in anywise appertaining and the rents, issues and profits
<br />thereof.
<br />This conveyance is intended for the purpose of securing the payment `tar Beneficiry of »Trustors' promissory note of even date in the amount
<br />of $ 4.550.00 (Total of Payments). Said Total of Payments is repayable according to the terms of said note. Payment may be made in
<br />advance in any amount at any time. Default in making any ISayment shall, at the Beneficiary's option and without notice or demand, render the
<br />entire unpaid balance of said loan at once due Ad payable less any required rebate of charges.
<br />To protect the security of this Deed of Trust, Trustor covenants and agrees:
<br />1. To keep the property in good condition and repair; to elmit no waste thereof; to complete any building, structure or improvement being
<br />built or about to be built thereon; to restore promptly at y bu" ding, structure or improvement thereon which may be damaged or destroyed; and to
<br />comply with all laws, ordinances, regulations, coven , conditions and restrictions affecting the property.
<br />2. To pay before delinquent all lawful taxep d assessments upon the property; to keep the property free and clear of all other charges, liens
<br />or encumbrances impairing the security of this Deed of Trust.
<br />3. To keep all buildings now or herear erecters on the property described herein continuously insured against loss by fire or other hazards
<br />in an amount not less than the total debts red by this Deed of Trust. All policies shall be held by the Beneficiary, and be in such companies as
<br />the Beneficiary may approve and have Ips payable first to the Beneficiary as its interest may appear and then to the Trustor. The amount
<br />collected under any insurance policy ma� be applied upon any indebtedness hereby secured in such order as the Beneficiary shall determine.
<br />Such application by the Beneficiary shall not cause discontinuance of any proceed' to foreclose this Deed of Trust or inure or waive any
<br />default or notice of default or invalidate any act done pursuant to such notice. In the e ent of for closure, all'right$ of the Trustor in insurance
<br />policies then in force shall pass to the purchaser at the foreclosure sale. i•...e.s ;,„'° -
<br />4. To obtain the written consent of Beneficiary before selling, conveying or ot*rwisa ti nsferring the pro eo a -t "nd -any T
<br />such sale, conveyance or transfer without the Beneficiary's written consent shall constitute a default under the terms hereof.
<br />5. To defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee.
<br />6. Should Trustor fail to pay when due any taxes, assessments, insurance premiums, liens, encumbrances or other charges against the
<br />property hereinabove described, Beneficiary may pay the same, and the amount so paid, with interest at the rate set forth in the note secured
<br />hereby, shall be added to and become a part of the debt secured in this Deed of Trust as permitted by law.
<br />IT IS MUTUALLY AGREED THAT:
<br />1. In the event any portion of the property is taken or damaged in an eminent domain proceeding, the entire amount of the award or such
<br />portion thereof as may be necessary to fully satisfy the obligation secured hereby, shall be paid to Beneficiary to be applied to said obligation.
<br />2. By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive its right to require prompt payment when
<br />due of all other sums so secured or to declare default for failure to so pay.
<br />3. The Trustee shall reconvey all or any part of the property covered by this Deed of Trust to the person entitled thereto, on written request
<br />of the Trustor and the Beneficiary, or upon satisfaction of the obligation secured and written request for reconveyance made by the Beneficiary or
<br />the person entitled thereto.
<br />NE- 991 -0700
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