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<br />DEED OF TRUST
<br />THiS OEED OF TRUST, made this 29th day of August , tg 89 , between
<br />Jerry L. Sheffield and Barbara H. Sheffield, husband & wife asTr';gtor.
<br />FirsTier Bank. National Association, Omaha, Nebraska as Trustee,.
<br />RrOner lz~n g %-%t:onrt. QQ —_ia ion. Omaha, Nebraska as E"ficiary:
<br />WITNESSiETH;
<br />That Trustor irrevocably grants, transfers and assigns to Trustee in trust, with power of safe, the following described
<br />Pry
<br />A rectangular shaped parcel of land being a portion of Lots 6, 7, and
<br />8 of Block 39 of the Original town of Grand Island, Hall County, Nebraska.
<br />Beginning at the north corner of said Lot 8 of said B1cok 39;, thence.
<br />southwesterly, along the northwest lines of said Lots 8, 7, and 6r a distaee
<br />of 140.00 feet; thence southeasterly, parallel with the northeast a
<br />line of..'
<br />said Lot 8, a distance of 65.00 feet; thence northeasterly' paraIlay ..with the
<br />woutheast line 'of siad Block 39, a distance of 140.00 feet to sai.itt trr ktheast line
<br />of said Lot 8; thence northwesterly, along said northeast line of siid %qtr 8,
<br />a distance of 65.00 feet to thePoint of Beginning.
<br />together with all interest which Trustor now has or may hereafter acquire in and to said Fropertyapd in and to. (a) all
<br />easements and rights of way appurtenant thereto; (b) all tenements, hereditaments, buildings, struciui*.% improvements,
<br />fixtures, equipment. furnishings and appurtenances now or hereafter placed thereon; ( c)-,all leasel.Wd estate,. right title,
<br />and interest of Trustor in and to all leases or subleases thereal.arany portion thereof notvtor hereafter existing cr entered
<br />into. and all right.titie. and interestof Trustor thereunder, including, without limitation.ail.sash orse%i it'f',deposits.advance
<br />rentals. and deposits or payrrents otsimilar nature. and (d) all mineral, ail, gas rights and praftts, virster, water rights and
<br />water stock Trustor agrees!; t{n execute and deliver, from time to time, such further instruments as may be requested by
<br />Beneficiary in form and substance satisfactory to Beneficiary to: ccnfrrro the lien of this Deed of Trust on any of the
<br />aforementioned property. The property so conveyed to T'rustpa hereunder is hereinafter- referred to as "such property".
<br />The Trustor absolutely and irrevocably grants, transrfateand assignato Beneficiary the rents, income. issues, and profits
<br />of all property covered by this Deed of Trust.
<br />FOR THE PURPOSE OF SECURING:
<br />1, Payment of the principal suvn of Fourteen thousand and'nn1100 --------------------
<br />_------------ - -1*- -- ($14.000.00) Dollars ------------------
<br />evidenced by the certain promissory ref ale dated of even date herewith (hereinafter referred to as the "Promissory Note ")
<br />executed by Jerry L. and Ba :i, ra tt._ Shef field
<br />f -,n said amount and payable to the ordatc, a Beneticiary maturing on September 1, 1992
<br />�kOW with interest thereon, late chat;g(9)S, aryl vepayment bonuses according to the terms of the Promissory Note
<br />at". +ei'cronewals. extensions. and moddications thereof.
<br />2. Pedorrt,,a ,r.: w,4t*charge of and compliance with every obligation, covenant and ar„ rtet mentof Trustor b%(O orated by
<br />reference ro contained herein or in any other security agreement or d4ed.0 t, evil t any time given 4c 4ecure any
<br />indebtedness hereby secured, or any part thereof.
<br />3. Payment of ai+ fees and charges of Be-eficiary or Trustee. whether or not set forth 1wein.
<br />TO, PROTECT THE SECURITY OF T4',ii,S DEED OF TRUST. TRUSTOR COVENANTS:
<br />TITLE, That rt.islawfully seized and good and indefeasible title and taufate toall of iuch'projuswty in fee
<br />simple free frcl* ary prior lien or encumfuaf'M9, has good rigf t and lawful authority 1:01.( "vey the same, and will forever
<br />warrant and defend the title thereto aga'4^ l the claims and den: ads qt sill persons whtsoever, that it will, at its expense.
<br />maintain and present.- the lien of this Deed of Trust as a first and param;unt lien uport such prope -&,
<br />MAINTENANCE: To keep such property in good condition and repair, to complete or restore promptly and in good and
<br />workmanlike manner any building which may be con3tructed, damaged or destroyed thereon and to pay, when due, all
<br />claims for labor performed and materials furnished therefore and for any alterations thereof; to comply with the provisions
<br />of all insurance policies covering said premises, to comply with all laws, ordinances, regulations, covenants, conditions
<br />and restrictions affecting such property; not to remove, demolish or materially alter any building, or the character or use
<br />thereof at any time thereon; not to drill or extract nor to permit the drilling for or extraction of oil, gas or other hydrocarbon
<br />substances. waferor any mineral of any kind unless the written consent of Beneficiary is had and obtained; not t*commit or
<br />pwrnuf anti wasMttwdd at any act upon such prop" in violation of law. to do all other acts in a timely and proper manner
<br />which from the characW or use of such property may be reasonably necessary to protect and preserve said security, the
<br />spercific enumerations herein not excluding the general.
<br />CONSTRUCTION OF IMPROVEMENTS. To complete in good and workmanlike manner any building or improvement or
<br />repair re>rialrng thereto which may bebegun on such property or contemplated by the loan secured hereby.to pay when due
<br />all costs mind liabilities incurred therefore . and nuiiiipemrii any tr, hainic's her, againstsuchproperty .Trustoralsoagrees.
<br />anything in this Used of Trust to the contrary notwithstanding; (at to promptly commence work and to complete the
<br />proposed improvements plomptiy, (tr) to complete same in accordance with 91ans and speciticatrons as approves] by
<br />Hot" 0arry, tc1&j complywithallotthetermsofanybuttdingloanagreementbetweenTrustarandBeneficiary .theterntsOf
<br />which era rneorrurat@d f7tlrein by reterence to the same extent as it fully Met forth herein and madea part of this Dec -d of
<br />;ru'.st E d I to &to* fdene~f olnary to iorspect Cur: -h properly at all bane, during construction. and (e) to replace any work nr
<br />^ialerial4 t11r ! :std *.fury Itr Genetic tat j, *ilKn fifteen (15) day :Lifter w!rtten n6lice from iBo"olitiaty tit sucr� f;rct wh�Ch
<br />co? ce Ma rja 3i; der m Tfwsfor t)y f*41Sttired Or CerUtleJ mart. Shot tp his 031 krt;wn address, nr by personal set var_o ut til0
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