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<br />01MW2w"
<br />89- 104162
<br />THIS:DEkD OF TRUST is made as of the �` , day of August, 1989, by and
<br />among DAVID A. JAKOB and JEAN A. JAKOB, husband and wife, ( "IRUSTOR "), whose
<br />mailing. address is: 525 East Memorial Drive, Grand Island, Nebraska 68801 and
<br />TIMOR lil- E INSURANCE 00., ( "TRUSTER "), whose mailing address is: 113 West Second
<br />Street,,;Grand Island, Nebraska, and OTTO JENNY, ( "BENEFICIARY "), whose mailing
<br />address is: Route 1, Albion, Nebraska 68520.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys, and
<br />assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security
<br />of Beneficiary, under and subject to the terms and conditions of this Deed of
<br />Trust, the real property located in the City of Grand Island, County of Hall,
<br />State of Nebraska, and legally described as follows: (the "Property "):
<br />The South Twelve Feet (S12' ) of Lot Forty -Nine (49). and
<br />all of Lot Forty -Eight (48), Fonner View Subdivision,
<br />In the City of Grand Island, Hall county, Nebraska.
<br />TOGETHER WITH all rents, easements, appurtenances, - .hereditaments,
<br />interests in adjoining roads, streets and alleys, improvements emd buildings of
<br />any kind situated thereon and all personal property that may h.. or- hereafter
<br />become an integral part of such buildings and improvements.
<br />The property and the entire estate and interest conveyed to the Trustee
<br />are referred to collectively,'as the "Trust Estate ".
<br />r' : THE PURPOSE OF SECURING:
<br />a. Payment of indebto cess in the totain principal am "n* of $45,000 -00
<br />with interest thereon, as evidenced by the certain Promissory Mete of even date
<br />(the "Note ") with a maturity elate of July 1, 2004, executed by Tiqustar, which
<br />has been delivered and is palvtle to the order of Beneficiary, am.-.. Which by this
<br />reference is hereby made a ?art hereof, and any and al`s r.wdifications,
<br />extensions and renewals theft, and,
<br />b. Payment of all stems advanced by Beneficiary to protect the Trust
<br />Estate, with interest•th*re;�n.at the rate of ten (10) percent per annum.
<br />This Deed of Tr at,, the Note, and any ot)nor instrument given to evidence
<br />or further secure vxa. payn4nt and peMformance of any obligation secured hereby,
<br />are referred to coLl'satively a the. `1vdn Instruments ".
<br />TO PROTECT ThS SECURITY OF THIS DEED OF TRUST:_
<br />1. PAYMENT OF INDEBISS. Trustor shall pay when due tie principal of,
<br />and the in erect on, the i:: ee to ness evidenced by the Note, c- 'harges, fees and
<br />all other sums as provided:l.n the Loan Instruments.
<br />2. TAXES. Trustor T3 ",411 pay each installment of alL.time,s and special
<br />assessments o every ki:tLa„ Yam or hereafter levied against t,�,*. Trust Estate or
<br />any part hereof, without notice or demand, and shall provide
<br />Beneficiary with evidence of the payment of same. Trustor sltier 1 pay all taxes
<br />and assessments which may b* levied upon Beneficiary's intereot heroin or upon
<br />this Dead of Trust or the debt secured hereby, without regard to any law that
<br />may be enacted imposing pay ont of the whole or any part thereof upon the
<br />Beneficiary.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended
<br />coverage insurance insuring the improvements and buildings constituting part of
<br />the Trust Estate for an amount no less than the amount of the unpaid principal
<br />balance of the Note (co- insurance not exceeding 80% permitted). Such insurance
<br />policy shall contain a standard mortgage clause in favor of Beneficiary and
<br />shall not be cancellable, terminable, or modifiable without ten (IU) days prior
<br />written notice to Beneficiary. Trustor shall promptly repair, maintain and
<br />replace the Trust Estate or any part thereof so that, except for ordinary wear
<br />and tear, the Trust Estat4 .,t8„all not deteriorate,, In no event - %hall the Trustor
<br />commit th4, rT ust Estate.
<br />4. ACPIOW 'A1'�',CT1 , TRUST,-ESTATE. Trustor shall a'ppi4i, in and contest
<br />any action or proceeding pznwrt ng to of fact the security htr*,.,f or the rights
<br />or powers of Beneficiary Or Trustee, and shall pay all coett.s and expenses,
<br />Including cost of evidence of title and attorney's fees, in any such action or
<br />proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to
<br />make any payment or to do any act as and in the manner provided in any of the
<br />Lama► Instruments, Beneficiary and /or TrustA , each in its, own discretion,
<br />without obligation, may mm Wit or do the saes ,)n such manner and to ouch extent
<br />In either may dens necessiatV to protect the security hereof:.:._ Truster shall,
<br />i-w-wdiately upon demand th*refor by Bonef iciary, pay! LAI' and expenses
<br />incgrred by Beneficiary in .K;rnnerti.on with the exerclam- - -bye., tneficiary of the
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