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<br /> ' �f�.,t ��ri7 i�� '�$� Mulhn.�'i,in�t fClfunR �401t Walton N� 68a61
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<br /> � (CORt2ECTITUpE) nFEU OF TRUST � i0�2�8
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<br /> P.EPLP,C�� INSTRUI�i�NT NO. (89-1OQ611) ��
<br /> THI� 1)FFi)()�'CR[J�'C, 18 flitt[�0 tiN Of LI1P 19 day of Navember ly�9� hy and among
<br /> � ; I,awrsnce K. Hankinson and Jeanenne E. Hanici.nsan ("Truetor"?, �vhaa�mailin�; uddresa is
<br /> ,, Husband and W�.fe,313Q West 14 Street Grar►d I�land,Nebraska 68803.
<br /> �i NS—Land Renl�y Trust Acct. 1821 N Hdncack Grand Ialand ("Trustee"l,whoge it�ailing adc�resa ie ��
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<br /> � Nebraska,68803. , ;i
<br /> 'I and Charlie C.,Gary L.,and David C. Schmi.dt, l"Beneficiary")whoae mailing addresA ia ��
<br /> � 1821 N Hancock.Grauid Isl.and.Nebraska.68803 • �;
<br /> � � FOR VALUABI.E CON9IDERATION,'I�ustor irrevocably tranafera,canveys and aesigna to Trustee,IN
<br /> I, TRUST,WITH P4tiVER OF SAI.E,for the benefit and security of BeneSciary.under and subject to the ternis
<br /> � and conditions af this Ueed of Trust,the real property located in the City of �rand �slana ,County of
<br /> • Hall State of Nebraska, and legally described as follows(the"Proper�y"a:
<br /> � ` �te 1,2, and 3 Raven Oaks Sub.,in the City af Grand Islanc�,�I�ebras?ca.
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<br /> � I '�Dt"]�'�'HER �VITH, all re:��a easements, apgu�+trenances, hereditame�ei�4,interests in acijoi�.ns�aoads,
<br /> � ; strcet��e��lle�s,ianp��overner+s r:a�d buildings of any�nd aituated thereon amd all personal praperty thatmay !;
<br /> � � � be or h�reafter becmrne an integral part of auch buildings and improvemente,all cropa raiaed thereon,and all �j
<br /> � I� I water rights. !
<br /> � The Property and the entire estate and interest mnveyed to the 1Y�ietee are referred ta collectively as the .
<br /> "'I`ruet Eatate".
<br /> ;j FOR THE PURPOSE OF SECURING: �'
<br /> �� a. Payment of indebtness in the tatal principal amount of$ 31,000.00 _ ,with intereat
<br /> �� thereon, a� evidenoed by thAt �rtain promisaory note of even date (the "Note") with a. maturity date of
<br /> �` ,7anuary 30/1992 ,executed by Truetor, which has been delivered and ie payable ta the order of
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<br /> �� Beneficiaiy,and which by this reference ia hereby made a part hereof,and any and all modificatione,exten-
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<br /> , � aione and renewals thereof, and _
<br /> ' b.Payment of all aums advanced by Benesciary to protect the 1�rust Eatate,with interest thereon at the rate � i °`
<br /> " '� uf �a_sg �rwni� �d.�m �;.?�.r�r.n�m. ,. ' _
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<br /> : �� '!'his Deed af nust,the Note,and any other instrument given to evidence or furthersecure the payment and -
<br /> j � performance of any obligation secured hereby are referred to oalle�ctively as the"Laan Instruments". ;i �
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<br /> ! ' T O P R O T E C T T H E S E C U R I T Y O F T HI S D E E D O F T R U S T: !' �
<br /> !' 1. PAYA4ENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on,the
<br /> � indebtedneaB evidenced by the Note,char�es,fees and all other sume as provided in the Loan Inatrumente. , ''
<br /> . � 2. TAXES.Trustor shall pay each instaDment of all taxes and apecial assessmenta of every kind,now or hereafter �
<br /> ' levied against the Trust Estate or any part thereof,before delinquency,without notice or demand,ar.d shall provide !+
<br /> ; +� Beneficiary with evidence of the payment of same. 'l�rustor shall pay a11 taxes and assesaments which may be levied ;: !
<br /> ; i: upon Beneficiary's interest herein or upon thi a Deed of'Trust ar the debt secured hereby,without regard to any law that ��
<br /> • �� � may be enacted impo�aing payment of the�vhole or any part thereof upon the$eneficiary. �'
<br /> i 3. INSURANCE AND RF.PAIRS. Trustor shall maintain�re and not extended coverageinauranceineuringthe ��
<br /> , 'i improvementa and buildings constituting part of the Truat Estate for an amount no leas than the amount of the ;;
<br /> • j unpaid principal balance of the Note(cainsurance not exceedin�80%permitted). Such insurance policy ahall contain � '�
<br /> 1 a etandard mortgage clause in favor of Beneficiary and shall not becancellable,terminableor modi�ablewithoutten J�
<br /> � � (10)days prior written notice to Beneficiary. Trustor ahall promptly repair,maintain and replace the'I'rust Estate or , _
<br /> any part thereof so that,except for ordinary wear and tear,the Trust Estate shall notdeteriorate. In no event shall the �� "'
<br /> ;i � 1'ruator commit waste on or to the Trust Estatp. �� � �
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<br /> ' i� 4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and conteat any action or proceeding
<br /> '� purporting to affect the secnrity hereof or the righta or powera of Beaeficiary or Trustee,and aha11 pay all coata and
<br /> expenses,including cost of evidence of tit2e and attorney's feea,in any au�h action or proceedingin which Beneficiary
<br /> � or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in ,
<br /> !; � any of the Loan Inatrumenis,Bene�ciary and/or Trustee,each in its own diacretion,without obligation so to do and
<br /> � �• without t�utit�e to ur detuand upwt Trudtor tsnd wit}ivut releae�ing Trudtor frnm any ubiigation,may matse or do the ��
<br /> !' same in such manner and to auch extent as either may deem neceasary to protect the aecurity hereof. Truator ehall,
<br /> �� I immediately upon demand therefor by Beneficiary,pay all coate and expensee incnrred by Bene�ciary in connection .j
<br /> �� with the exerciae by beneficiary of the foregaing righta,including withnut limitation coata of evidence of title,court
<br /> , coate,appraisals,anrveya and attorney's fees. Any auch costs and expenaea noL paid within ten(10)days of written '
<br /> i� demand ehell draw intereat at the default rate provided in the Note.
<br /> i� 5. EMINENT DOMAIN. Should the'I'ruat F.state, or any part thereof or inteneb�t therein, Fie taken or damaged by
<br /> reason of any public impr�vement or condemnation proceEding,or in any other manner including deed in lieu of Condem-
<br /> , nation("Condemnatiori'),ar should Trustor recive any notice or otherinformation reqarding euch proceeding,Tn�stor shall --�r__
<br /> f give prompt written notice thereof to Beneficiaag. Beneficiary ehall be entitled to all compensation,awards and other pay- �
<br /> mente or relief therefor,and shall be entitled at its option to commence,appear in and prosecute in ite own name any action
<br /> or proeeedinga. Benefir,iary shall also be entitted to make ans compromise or settlement in connection with surh takyng or ,
<br /> dama�e. 1�11 such compensAtion„auards,dama�ea,right�o`action and procee3s accarded to Trustor(the"F'iracjeeds")are �
<br /> . ' hereBy essigned ta Beneficiaxy artd Trustor agrees to exec�te such further asaignments of the Proceeds a�Beneficiary or � -
<br /> i 'YYusWe tt�ay require.
<br /> � } 6. APPOINTME�TT OF SUCCESSt)F'Y�tL'S'I'F;�. Beneficiary may, from tirr�e to rime, by a written inatrument
<br /> ; � exacuted and uclmowiedged by Beneficiury,mailed ta'I�ustar and Recorded in the Connty in which the Trust Estate iti '
<br /> � � • tntated and by otherwise Complyink�vith the proviaions of the applicable law ofthe State of Nebraska snbstitute a successor �
<br /> � or euccessore to the'IYuatee named herein or actintt hereunder. j ^
<br /> � 7. SUf;CF.5.5�R.�r1iv1)ri�SIC.N;;. 'i'hi� lleed of'3'rust applies to,inurea to the benefit nf�nd binda�ll p:irtie�heret��.
<br /> ! their heirH, leaUtees,devitY�eK, persunal rrpri�4enttitives, r;ucrer5ar� and r��,viqne. The term"Re�nefirie�ry" r;hell menn th�� ,
<br /> uwnE�r f►nd hnldrr uf the Notcr, wht•thc•r r�r nut iifime+l av 13c•nFfir•iarv herein. �
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<br /> K. INSYI�.I"I't��tifi. It�•m•fi�•�:�rv.ur itr:a�;f•ntti,rt�preuenu�tiv�w ur wnrkrnen,<�rt�s�uthnnr��i t���•nt�•r;it .u��•ri•a�unt�hit•
<br />� fimr u���m ar in nr�}•{�:�rl nf Ih�•"l�ru�,t f:�:t:rt�•1Lr th�•purpu�e�uf�r�4�HV4in�th�•:+;�m��iui�i f��r ih���uirF����r ni�K•rf��riiunl:nny „f
<br />. t���•ru�+.N if �+�sruthurv.cYl t�� ue�rf�,rm ur:der the• t,�nnx nf unv uf th��i�uin (�ir:trum�•ntti
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