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<br /> � N � �p,;i Huflman and felton R titnu WaUnn Ne GFSaRt
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<br /> DEED OF TRUST $�� 1066��
<br /> ' THISt DEED OF TRUS'P, ia made aa of the 1s� day of necember lge9 � by a�� Rma�g �
<br /> � �+ JGLene M. Fredrick a single persaa and Larry L. ("'j`puator"),whose muiling addreae ie
<br /> �� Smolinsk3 a single gerson,and each in their own r�ght.
<br /> i� B-Lapd Realty Truat ,1812 N Hancack Grand Islan�g�V�� �"Tr'uatee"),whose rnailing address ia �� ,
<br /> and�harlie C.Schm3.dt,Gazy L. Schmidt and ar ("Benefieiary")whoae mailing addreas ia ��
<br /> . David C. Schmidt '
<br /> FOA VAI.UABLE CONSIllERATION,15rustor irrevocably tranefere,conveys and aesigna to 1�ruatee,IN �
<br /> ' TRUST,WITH POWEft OF SALE,for the benefit and eecurity of Beneficiary,under and enbject to the terms �
<br /> � and conditiona of thie Deed of Z�uat,thereal property located�n the G�ty of�rancl i salna.Ne_ �County of ;'
<br /> • xall State of Nebraeka,and legally described as follows(Lhe"Propert�y"):loe�D�1,2,3,4 a5,
<br /> Black 18,Baker Add3ttian ta the City of Grand Island,Ne. also Y.nown as. Caurtesy Court '
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<br /> Motel. i.
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<br /> I TO('ETHER WITH, all rente, easements, appurtetta,anoee, hereditaments. interesta in adjoining roads, I
<br /> � etreet�and alleys,improvementa and buildinga of�n,y irit�a3 situated thereon and all personal pmperty t�at may �
<br /> ' � be or hereafter beoome an integral part of auch buildinge and'unprovementa,all crops rai�ed thereon,and a11 ,'
<br /> ' � �.vater righte. :
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<br /> The Property and the entire estate and interest oonveyed to the�ustee are referred to eollectively as the ��
<br /> I, "15rust Estate". .
<br /> ; i FOR THE PURPOSE OF SECURING: ��
<br /> 1 a Pa�yment of indebtness in the total prineipal amount of$ �9•�a0.00 ������
<br /> ithelre2o•5 ae evidenoed by that certain promiasory note of even date (the "Note") with a raatarity date cf ��
<br /> I I ,executed by�ustor, which haa been delivered and ia payable to the order of ,;
<br /> Beneficiary, and which by thie reference ia hereby made a part hereof,and any and all modifications,exten- ';
<br /> II sions and renewale thereo� and ; . `-�
<br /> b.Payment of all auma advanoed by Beneficiary to protect the 1�rust Eatate,with interest thereon at the rate ' '
<br /> -.-- ;� � 12.5 a pervent( I2 e�:`s»)per anniun. :i . t-_
<br /> '� T hie D e e d o f T r us t,t he No t e,an d any ot herinstrument giventoevi denceorfurtheraecurethepaymentatid � ? -
<br /> � performanoe of any obligation secured hereby are referned to oollectively as the"Loan Inatruments". � �
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<br /> I TO PROTECT THE SECURITY OF THIS DEED OF TRUST: ,
<br /> i� i. PAYMENT OF INDEBTEDNESS. Trustor ehall pay when due the p�rincipal of, and the interest on,the ��
<br /> ' indebtedneas evidenced by the Note,chargea,fees and all other eums se provided in the Loan Inatruments.
<br /> ; I 2. TAXES. Trustor ahall pay each inetallment of all taxes and apecial asseeements of every kind,now or hereafter ��
<br /> levied againat the Truet Estate or any part thereof,before delinquEncy,without notice or demand,and ahall provide '`
<br /> Beneficiary with evidenee of the payment of same. �tor ehall pay all taxes and assesaments which raay be levied �
<br /> ' �� upon Beneficiary'e intereat herein or upon thie Deed of Truat or the debt secured hereby,without regard to any law that ;� =
<br /> � �I may be enacted impoeing payment of the whole or any part thereof upon the Beneficiary. i;
<br /> ' I 3. INSURANCE AND REPAIRS. Truetor ehaU maintain�ire and not extended coverage ineurance inauring the '� �
<br /> ! ! improvemants and buildinge conetituting part of the Trust Eetate for an amount no lese thttn the amount of the � ��'
<br /> ' � un sid nnci al balance of the Note(co-inaurance not exceedin 8096 ``°"'"�
<br /> p p � P g permitted). Such inaurance policy ahall contain ��.
<br /> � � a standard mortgage clauae in favor of Beneficiary and ahatl not be cancellable,terminable or modi�able without ten . �,
<br /> : � (10)days prior written notice to Beneficiary. Truator shall promptly repair,maintain and replace the Trugt Estate or , �:,—
<br /> any part thereof so that,except for ordinary wear and tear,the Truat Estate ahall not deteriorate. In na event shall the �
<br /> , � Truator commit waste on o:to the Truat Eatate.
<br /> ' � 4. ACTIONS AF'FECTING TRUST ESTATE. Truator ahall a
<br /> . ; ppear in and contest any action or proceeding ._
<br /> � � purportiag to affect the security hereof or the righta or powers of Beneficiary or Truatee,and shall pay all costs and
<br /> expenaes,including coet of evidence of title and attorney's f�ea,in any auch action ar proceeding in which Beneficiary �!
<br /> � i � or Truatee may appear. Should Trustor fail to make any payment or to do any act ae and in the manner provided in
<br /> �� any of the Laan Instrumente,$eneficiasy and/or Truetee,each in ita own discretion,without obligation Ao to do and
<br /> ; without notice to ar demand upon Truator and without releasing Truator from any obligation,may make or do the �:
<br /> , aame in such manner and ta auch extent as either may deem neceasary to protect the aecurity hereof. Trustor ehall,
<br /> • . � immediately upon demand therefor by Bene�ciary,pay all costs and expensea incurred by Bene�ciary in connectiun
<br /> � + � with the exereiee by beneficiary of the foregoing rights,including without limitation costs of evidence of title,court
<br /> �; coats,appraisala,eurveys and attorney's fees. Any auch coats and expenses not paid within ten(10)days of written �'
<br /> � demand ahall draw intereat at the default rate provided in the Note. .16$ �;
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<br /> I b. EMINENT DOMAIN. Should the Truat Estate,or any part thereof or interest therein,be taken or damaged by '
<br /> �: reaeon of any�ublic improvement or condemnation prceeeding,or in any other manner including deed in lieu of Condem-
<br /> �I nation("Condemnation'�,or ahould Trustor recive any notice or other informa�on regarding euch proceeding,Trustor ahall r-- -�-
<br /> givP prompt written notice thereof to Beneficiary. $eneficiary ahall be entitled to all compensation,awards and other pay- � �
<br /> :( mente or relief therefor,and ahall be entitled at its option to cammenc�appear in and prosecute in its own name any action ! :
<br /> �, or pr�ceedinge. Beneficiary shell also be entitled to make any comprotnise oz settlement in connection with auch taking or ) ;
<br /> I i daipage. Al!e�ch compeneation,awarde,damagea,rights of action and proceede awarded to Trustor(the"Pr�oeeds")are ' ' ;
<br /> ;; heneby aesigned to Beneficiary and Trustar agrees to execute such further asaignments of the Proceed$as Benefcciary or � . ,
<br /> Z�wtce may zequi�. f
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<br /> L ; 6. APPOINTMENT OF SUCCESSOR TRU$TEE. B�neficiary may, fram time ta time,by a written instrument
<br /> exeCUted and acknowledged by Ber►eficiary,mailed to Trugtor and Recorded in the County in which the Truat Estate ic� �
<br /> located and by otherwise comp)ying with the provieiona of the applicable law ofthe State of Nebraaka substitute a euccessor
<br /> . ar r�ucoeserara to the Trustee named herein or acting hereunder. � �
<br /> ' 7. SUCC�9SORS AND A95IGN5. This Deed of 1Yust applies to,inures to the benefit of and bindH all partiea hereto. �
<br /> i th�ir heire,legateee.devioees,pereonal repredentatives,successora and aesigne. The term "Heneficiary" �hell mean thc• ; � ,•
<br />- ownet and hc►lder of the Nute, whether nr not named as Beneficisry herein. � ^
<br /> ' H. lNSPF:G"i'lON$. Rencficiury,nr ittj aKents,repreftentt�tiveb or workmen,cire authorizc�cl ti�E�ntc�r:it imy reas��nr�blc•
<br />. � time upon or in e�ny pflrt of the'lYust Eet�►t�fur the purpuse uf inapeMinK the�Ht�me•tinr!f��r thr��arp�����nf�x�rf��rmin�:in>•��f
<br />- thN ricte it ie authoruc.�d w�erfnrm under the tem�s of nny uf the I,onn instrumentca. '
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