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200009395
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Last modified
10/13/2011 9:14:55 PM
Creation date
10/20/2005 10:05:49 PM
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DEEDS
Inst Number
200009395
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200009395 <br />shall deposit said amount in a tax and insurance escrow account at Home Federal Savings <br />and Loan, Grand Island, Nebraska and Trustors shall then pay the real estate taxes each <br />year before the same become delinquent and shall provide Beneficiary with evidence of <br />payment of the same. Beneficiary shall release the amount necessary for payment of real <br />estate tax to Trustors when they request such release from the escrow account. In the event <br />that the real estate taxes or insurance costs should increase, the Trustors agree to make an <br />additional payment sufficient to cover payment of such taxes or insurance. <br />3. INSURANCE AND REPAIRS. Upon closing, Trustors shall provide Beneficiary <br />with a policy of fire and extended coverage insurance insuring the house and other <br />building constituting the trust estate, for an amount no less than the replacement value of <br />the house and buildings. <br />In addition to casualty insurance, Trustors shall, at closing, provide Beneficiary with <br />a policy of comprehensive liability insurance covering the primacies and protecting the <br />Beneficiary and Trustors from all claims, demands, lawsuits, costs, and judgments out of <br />injury to persons or damage to property occurring on the primacies. The coverage shall be <br />in an amount not less than $300,000.00 single limit for bodily injury and property damage. <br />Trustors shall pay each month, at the time principal and interest payments are <br />made, 1/12 of the estimated annual premiums for casualty insurance and comprehensive <br />general liability insurance and Beneficiary shall deposit the same in the tax and insurance <br />escrow account at Home Federal Savings and Loan, Grand Island, Nebraska. Beneficiary <br />shall then pay the insurance premiums before the same become delinquent and shall <br />provide Trustors with evidence of payment of the same. In the event that the premiums for <br />taxes and insurance should increase from time to time, the Trustors agree to make an <br />additional payment sufficient to cover payment of such insurance. <br />4. ACTIONS AFFECTING TRUST ESTATE. Trustors shall appear in and contest <br />any action or proceeding purporting to affect the security hereof or the rights or powers of <br />Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of <br />title and attorney's fees, in any such action or proceeding in which Beneficiary or Trustee <br />may appear. Should Trustors fail to make any payment or to do any act as and in the <br />manner provided in any of the Loan Instruments, Beneficiary and /or Trustee, each in its <br />own discretion, without obligation, may make or do the same in such manner and to such <br />extent as either may deem necessary to protect the security hereof. Trustors shall, <br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by <br />Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including, <br />without limitation, costs of evidence of title, court costs, appraisals, surveys and attorney's <br />fees. Any such costs and expenses not paid within ten (10) days of written demand shall <br />draw interest at the default rate provided in the Note. <br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest <br />therein, be taken or damaged by reason of any public improvement or condemnation <br />proceeding, or in any other manner including deed in lieu of Condemnation <br />( "Condemnation "), or should Trustors receive any notice or other information regarding <br />such proceeding, Trustors shall give prompt written notice thereof to Beneficiary. <br />Beneficiary shall be entitled to all compensation and condemnation awards and other <br />payments or relief therefor, and shall be entitled to make any compromise or settlement in <br />connection with such taking or damage. All such compensation and condemnation, <br />awards, damages, rights of action and proceeds awarded to Trustors (the "Proceeds ") are <br />hereby assigned to Beneficiary; and Trustors agree to execute such further assignments of <br />the Proceeds as Beneficiary or Trustee may require. <br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to <br />time, by a written instrument executed and acknowledged by Beneficiary, mailed to <br />Trustors and recorded in the County in which the Trust Estate is located and by otherwise <br />complying with the provisions of the applicable law of the State of Nebraska substitute a <br />successor or successors to the Trustee named herein or acting hereunder. <br />deed. <br />7. PURCHASE MONEY TRUST DEED. This trust deed is a purchase money trust <br />S. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the <br />
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