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<br /> DEIED �F T�t�IIST V�'ITH FUTLJRIE ADVA�CES v�,; � �
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<br /> 7'his DEEU OF TRUST is made this Sth day of December, i996, by and among DENN�S B: �AASCH � ,
<br /> �nd ��T'�iI,EEN G. �.r�ASCA, husband and wife, hereina8er referred to as "Trustdre,'' whether one or •
<br /> marp, whose n1�:lin� aad:e�: :s 13?6� West ]-r Road, Caero, Nebraska 68R24; T�E STATE BANK UF
<br /> �fs�.��g{�, a I��b�sk� Sanki�n� C�rpc,rqtian, herEinafttr �ef�rrFd :c ss "'�"rustcr.," •�+h�se t�►ailing address is
<br /> A�a 428, �;aSro, fii�ebraslc:. 68R23; an�T�i£SiATE I��NK aF�.aIR�, s 1`1ebe�slc�1��nEc�ng�orporation,
<br /> hereinafter referred to as "Benefiriary," whose mailing address is Boa 42$, ��ixn,Nebraseta 6$824.
<br /> For valuable cc�nsideration, Trtistors irre��ocably grant, transfer, convey and assign to Tr�astee, in trust,
<br /> wiih power of sale, far the benent and security or Beneficiary, under and subject to ihe terms and conditions of
<br /> this Deed nf Trust, the fcllovving describ�L�real property located in gIALL County,Nebraska:
<br /> The Narthwest Quarter (NW 1/4)�of Section Sixteen (16), Township Twelvs {12) I�orth, Ran�e
<br /> F.l�ven (11) West of the 6th P.hi., aiad the East Half (E i/2) of Section Five (5), Township
<br /> Twelve(12)North, Ran�e Tweive(12)�Vest ofthe 6th P.Ni., all in Hall County,Nebraslca,
<br /> together with all buildings, improvements, fi�ctures, streets, alleys, pasr.ageways, easements, rights, privileges and
<br /> appurtenances located thereon, and all personal prope.rty that may be or hereafter become an integral part of such
<br /> buildings and impr�vemer�ts, a11 crops raised thereon, and all water rights, all of which, inc3udir�g r�placements
<br /> and additions thereto, are hereby declared to be a part oi the real estate conveyed in trust hereby, it being agreed
<br /> that all of the foregoing shall be hereinafter referred ta as the "Property.'"
<br /> FOR THE �'URPO5� OF SECURIN�:
<br /> a. Payment of indebtedr�ess evidenced by 'i rustors' note of even date herewith in the principal sum of
<br /> $ii3,000.00, together with in�erest at the rate or rates provided therein, and any and all renewals, modifications
<br /> anid e�ctensions of such nate, both principal and interest an the note being payable in accordance with the terms
<br /> se�t forth therein, which by ttiis reference is hereby made a part hereof; and any and all future advances and
<br /> rea�.dvances to Trustors hereun�der pursuani to one ore more promissory notes or credit agreements(herein called
<br /> "N��te");
<br /> b. the payment of other sunis advanced by Beneficiary to protect the security of the Note;
<br /> c. the performance of�ll covenants and agreements of Truseor set forth herein; and
<br /> d. ali present and future inciebtedne�s and obligations of Trustors to Beneficiary whether direct, indirect,
<br /> absolute or contingent and whettaer arising by note, guaranty, overdraft or.otherwise; -
<br /> TO`PROT�CT THE SECURITl'OF TH1�S DEED QF TRUST,TRUSTORS HEREBY COVENANT AND AGREE:
<br /> d. To pay w�hen due_ the principal of, and ttie is►terest on, the indlebtedstiess evidenced by the no.e, charges, iees and all other
<br /> nims as pro�-ided in the loan inswments.
<br /> 2. 'Crustors are the o��ners of the properry and have the right and authority to execute this Dced of Trust in respect to tite
<br /> propem�.
<br /> 3. To ��. «'hen due, all ta.�es, sp�cial assesstnenls and all other charges against the property, before the same become
<br /> delinquent. Tn�sEOrs sh,111 pay all taxes and assessments:�•hich may be le��ied upon Beneficiary's i�terest herein or upon this Deed of
<br /> Tru��t ot the debt secured hereby,wzthout regard to any law th,t may be enacted imposing payment of the whale or any part thereof
<br /> upa►r the�Benefcian•.
<br /> �. To keep th�imprrn•ements now or hereafter located on the propert}�insured against damage by fire and such other I�a7ards as
<br /> the Bene,6cian•ma}•require,in amounts and companies acceptable to the Benefi�:iary,Such insurance poliry shali contain a standard
<br /> mortgage claose in fa�•or ot Beneficiary. Trustor shall prompQy repair, maintai!n and replace the property or any pari thereof, so
<br /> that.e�ce,pt for ordinary•wear and trar,the property shall not deferiorate.
<br /> S. I� :the cti�ent the property, or any pact thereof, shall be taken by eminent domain, the Bcneficiary is entided to collect and
<br /> reccive all compensation which may be paid for any pruperty taken or for dannages to property not taken, and the Beneficiary shall
<br /> app!}�such compensation,at its option,eithe�to a reduct�on of the indebt�ess securer�hereby,or to repair and resiore the property
<br /> so taken.
<br /> b. The Reneficiar}� may, hut shall have no obligation to, do any act which Tnistors itiave agreed but failed to do, and ihe
<br /> Beneficiar}• ma}•also do any act it�'eems necessary to protect the iien hereof. Trustors agree to repay, upon demand, any sums so
<br /> e�-pended M thc Beneficiary for the abo��e purposes,and a.ry sum so e�cF,ended shall be added to the ind�tedness secured herciry and
<br /> become seaired bv ehe lien hereof. The Beneficiary sha:l no incur airy liabilit}• because of anything it may do or omit !o do
<br /> hcreunder.
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