|
r
<br />eoe Wil rawer
<br />(Open OtA nitlpie pots)
<br />NO
<br />1.07136
<br />by and among
<br />M b6901
<br />•'lruatee, wnuN wssa,,.e .a. •• VhD /e Y><Lrll
<br />and THE OVERLAND NATIONAL BANK OF GRAND ISLAND. harslnafter referred to as Beneficiary.
<br />address is P. 0. Box 1668, Grand Ittland, Nabraaka 68902.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to Trustee.
<br />In trust, with power of sale, for the benefit and security of Beneficiary, under and subject to the
<br />terms and conditions of this Deed of Trust, the following - described property, located in
<br />County, Nebraska, to -wit:
<br />Lot 2, in Block 1, in Fazmina SecMd Subdivisfans
<br />an addition to the Citlr of Grand Island, Hall omx",
<br />Nebraska.
<br />together with all buildlagm, isproveetttata, fixtures, streets, alleys, passageways, easements. rights,
<br />privileges and appurtenances located thereon or in any way pertaining thereto. and the rents, issues,
<br />profits, reversions and the reminders thereof, including all such personal property that is attached
<br />to the Improvements /o as to constitute a fixture, all of which, including replacemats and additions
<br />thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it being agreed
<br />that all of the foregoing shell be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of personal Indebtedness owing from Truster to Beneficiary, as
<br />evidenced by Promissory Notes of various dates in the total present principal amount of )i
<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 interest on any and all renewals, modifications and extensions
<br />of such noted
<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 ia.iabtednarr. not inclt4t_ ^ML% advanced to protect the security or interest
<br />accrued, shall not exceed the Rum of ,SeVellteen '1hOUSand & NO /100 (S 17.000.00 )i
<br />(d) the performance of each agreement and covenant of Trustor herein contained; and
<br />(e) the payment of any sum or sung 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 t ::s Deed of Trust. Truster hereby covenants and agrees as follows:
<br />1. Pavuent of Indebtedness. To pay when due. th-i principal of, and the interest on. the in-
<br />debtedness evidenced by the note, charges, fees and aal other sums as provided in the loan Instru-
<br />ments.
<br />2. Title. Trustor is the owner of the property and has the right and authority to execute
<br />this Dead of Trust in respect to the property.
<br />3. Taxes and Assessments. To pay, when due. all taxes, special asmesments and all other
<br />charges against the property, before the same become delinquent, and, in the event Beneficiary
<br />shall so require, to add to the payments required under the note secured hereby, such amount as
<br />may be sufficient to enable Beneficiary to pay such taxes, assessments or other charges as they
<br />become due.
<br />4. Insurance. To keep the improvements now or hereafter located on the real estate
<br />described herein insured against damage by fire and such other hazards as Beneficiary may require,
<br />In amounts and companies acceptable to Beneficiary. and with loss payable to Beneficiary. In came
<br />of lose under such policies. Beneficiary is authorized to adjust, collect and compromise. In its
<br />discretion, all claims thereunder and, at its sole option, is authorized to either apply the pro-
<br />ceeds to the restoration of the property or upon the indebtedness secured hereby, but payments
<br />required by the note shall continue until the stns secured hereby are paid in full.
<br />S. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or
<br />Improvements now or hereafter on the property; to keep the property in good condition and repair,
<br />without waste and free from mechanics or other liens not expressly subordinated to the lien hereof;
<br />to not make, suffer or permit any nuisance to exist nor to diminish or Impair the value of the
<br />property by any act or omission to act; and to comply with all requirements of law with respect
<br />to the property.
<br />6. Condemnation. In the event the property, or any part thereof, shall be taken by eminent
<br />domain, Beneficiary is entitled to collect and receive all compensation which may be paid for any
<br />property taken or for damages to property 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- B_e_neficiar . Beneficiary may, but shall have no obligation to, de 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 eo expended by Beneficiary shall be added to the in-
<br />•.. .c... lien ha....,f. RmefictarV shall not Incur MY
<br />debteanee■ aecurea ica[CUV a,.4 ua.:vu,o SZC:X,.. ..� • -••- - - -• •--- -
<br />personal liability because of anything it may do or omit to do hereunder.
<br />8. Inspections. Beneficiary. or its agents, representatives or workmen, are auttcri2ed 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 instrumsats exeruted by Trustor.
<br />9. Aeaignment 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 poaaession of the property affected
<br />hereby, and Truster hereby absolutely and unconditionally assigna all such rents, issues and profits
<br />to Beneficiary. Beneficiary. however, herebv consents to Trustor's collection and retention of such
<br />rents. issues and profits as they accrue and become payable, so long as Truster is not, at such time.
<br />-I -
<br />• -,� ..,= fwd °..
<br />Lt.•
<br />
|