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This Deed of Trust is made
<br />alteyen w. liyan & ig
<br />hereinafter referred to as
<br />Ar%mrli Rfta. -Ir
<br />DEED OF TRUST
<br />(Open End Multiple Note)
<br />15th •dav of September
<br />or." Whose mailing address i
<br />, Attorney at
<br />89. 105002
<br />198 9 by and among
<br />um. MI-Eff s ,; NE 68805;
<br />er referred to as
<br />and TBH OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred io as "Beneficiary;' whose sailing .
<br />address is P. 0. Box 1688, Graad isiand, Nebraska 68802.
<br />For valuable consideration, Trueor irrevocably grants, transfers, conveys and assigns to Trustee,
<br />In trust, with power of sale, for the benefit and security of Beneficiary, sander and subje l the
<br />terms and conditions of this Deed of Trust, the following- described property, located in 1
<br />County, Nebraska, to -wit:
<br />IDt Eight (8), Block Fifteen (15) i.n ScarffIs Addition
<br />-to West Lawn, in the City of Grand Island, Hall County,
<br />Nebraska.
<br />together rith all buildings, iaprrrements, fiartures, streets, alleys, passageways, easements, rights,
<br />privileges and appurtenances loczte3 there= cr in any way pertaining thereto, and the rents, issues,
<br />profits, reversions and the remalzi4eve thereof, lacludfmg all. such personal property that is attached
<br />to the Impxovesents so as to constitute a fixture, all• of which, including replacemenrw and additions
<br />thereto, ace hereby declared to bi a part of the real estate conveyed in trust hereby, it being agreed
<br />that all of the foregoing shalt �_e hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of personal indebtedness owing from Trustor to Henef£ciary, as
<br />evidenced by promissory Notes of various dates in the total present principal amount of
<br />(s );
<br />(b) the payment of interest at the rate or rates provided in the afore - described notes and
<br />the payment of both principal and int mst on any and all raaewals, modifications and extensions
<br />or. such notes;
<br />(c) the payment of principal and interest on any future advance as may be evidenced by
<br />promissory notes stating they are secured by this Deed of Trust; provided, however, that the
<br />total principal indebtedness, not including sums advanced to protect the security or interest
<br />accrued, shall not exceed the sum of %yenty- -five thousand & no / s25,0W.00 );
<br />(d) the performance of each agreement and covenant of Trustor herein contained; and
<br />(e) the - payment of any sum or sums of money which may be hereafter paid or advanced by
<br />Beneficiary under the terms of this Deed of Trust, together with interest at the highest
<br />rate provided in the notes secured hereby.
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows:
<br />T., . Payment of Indebtedness. To pay when due, tha prt=zloal of, and the interest on, the in-
<br />de!zeltass evidenced by trs note, charges, fees and a.l et•1.ii sums as provided in the loan inst.u-
<br />men :.� ,
<br />2. Title. Trustor la the owner -if the property and right and authority to execute
<br />this Deed of Trust In respect to the ;property.
<br />3. Taxes 'm! Assessmems. To pay, when due, all taxes, special assessments and all other
<br />charges against the propevtV., before the same become delinquent, and, in the event Beneficiary
<br />shall so require, to add t:, the payments required under the note secured hereby, such amount ors.
<br />may be sufficient to enable Beneficiary to pay such taxes, assessments or other charges as t%eq
<br />become due.
<br />4. Insuram e. To kee-p ~!:e improvements nov or hereafter located on the real estate
<br />described herein insured a!_i_irzt damage by fire art such other hazards as Beneficiary may reVAce,
<br />In amounts and companies mr;s ?table to BeneficUt -.,, and with loss payable to Beneficiary. In case
<br />of loss under such polictroa, Beneficiary is authorized to adjust, collect and compromise, in its
<br />discretion, all claims thereunder ard, at its sole option, tta authorized to either apply the pro-
<br />ceeds to the restoration of the prcrptMt or upon the indett44aess secured hereby, but payments
<br />required by the note shall continue =11 the sutr-3 secured hereby are paid in full.
<br />5. Repair, Haintensece and Use. To promptly repair, restore or etabuild any buildings oar
<br />improvements now or hereafte.a on the property; to keep the property lt+ gpod condition and rermir.
<br />without waste and free free mechanics or other liens not expreasly subordinated to the lien
<br />to not make, suffer or pe=ic ,:.my n•u4=ce to exist nor to dininish or impair the Frriue of Vhe
<br />property by any act or omVaefaw to act; and to comply with ail requirements of law vier respect
<br />to the property.
<br />6. Condemnation. In the event the property, or any part thereof, shall be taken by ethi�t
<br />domain, Beneficiary Is entitled to collect and receive all compensation which may be paid for any
<br />property taken or for damages to prcrerty not taken, and Beneficiary shall apply such compensation,
<br />at its option, either to a reduction of the indebtedness secured hereby or to repair and restore
<br />the property so taken.
<br />7. Performance by Beneficiary. Beneficiary say, but shall have no obligation to, do any act
<br />which Trustor has agreed but failed to do, and Beneficiary may also do any act it deems necessary
<br />to protect the lien hereof. Trustor agrees to repay, upon demand, any sums so expended by Bene-
<br />ficiary for the above purposes, and any sum so expended by Beneficiary shall be added to the in-
<br />debtedness secured hereby and becoeie secured by the lien hereof- Beneficiary shall not incur any
<br />personal liability because of anything it may do or omit to do hereunder.
<br />S. Inspections. Beneficiary, or its agents, representatives or workmen, are authorized to
<br />enter at any reasonable time upon or in any part of the property for the purpose of inspecting the
<br />same and for the purpose of performing any of the acts it is authorized to perform under the terms
<br />of any loan instruments executed by Trustor.
<br />9. Assignment of Rents. Beneficiary shall have the right, power and authority during the
<br />continuance of this Deed of Trust to collect the rents, issues and profits of the property and of
<br />any personal property located thereon with or without taking possession of the property affected
<br />hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits
<br />to Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and retention of such
<br />rents, issues and profits as they accrue and become payable. so long, as,Trustor is not. at such time,
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