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<br />Deed of Trust i cn
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<br />This Deed of Trust, is made as of October 1, 2001, by and among, Christopher F.
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<br />Salisbury and Nicole S. Salisbury, husband and wife, ( "Trustor"), whose mailing address is 407
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<br />Calvert Ave, Elwood NE 68937, and First National Bank of Elwood ( "Trustee and Beneficiary")
<br />whose mailing address is 301 Smith Avenue, P.O. Box 105, Elwood NE 68937.
<br />For Valuable Consideration, Trustor irrevocably transfers, conveys and assigns to
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<br />Trustee In Trust, With Power of Sale, for the benefit and security of Beneficiary, under and
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<br />subject to the terms and conditions of this Deed of Trust, the real property located in the County
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<br />of Hall, State of Nebraska, and legally described as follows (the "Property "):
<br />Lot Seven (7), in Block "D ", in the First Addition to the Village of Wood River,
<br />Hall County, Nebraska
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to
<br />collectively as the "Trust Estate ".
<br />For the Purpose of Securing:
<br />a. Payment of indebtedness up to a total principal amount of Eighty Thousand and
<br />00/100 Dollars ($80,000.00), with interest thereon as evidenced by that certain promissory note
<br />dated October 1, 2001, ( "the Note ") with a maturity date of October 1, 2002, executed by Trustor
<br />which has been delivered and is payable to the order of Beneficiary, and which by this reference
<br />is hereby made a part hereof, and any and all modifications, extensions and renewals thereof,
<br />and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with
<br />interest thereon at the maximum rate allowable by law.
<br />This Deed of Trust, the Note and any other instrument given to evidence or further
<br />secure the payment and performance of any obligation secured hereby are referred to
<br />collectively as the "Loan Instruments ".
<br />To Protect the Security of This Deed of Trust:
<br />1. Payment of Indebtedness. Trustor shall pay when due the principal of, and the interest on, the indebtedness
<br />evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. Future Advances. ( X ) yes ( ) no Upon request of Trustor, Trustee or Beneficiary at Trustee's option prior
<br />to reconveyance of the Property to Trustor may make future advances to Trustor. Such future advances, with interest thereon,
<br />shall be secured by this Deed of Trust, when evidenced by promissory notes stating that said notes are secured hereby.
<br />3. Taxes. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereafter
<br />levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and shall provide Beneficiary
<br />with evidence of the payment of same. Trustor shall pay all taxes and assessments which may be levied upon Beneficiary's
<br />interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that may be enacted imposing
<br />payment of the whole or any part thereof upon the Beneficiary.
<br />4. Insurance and Repairs. Trustor shall maintain fire and extended coverage insurance insuring the improvements
<br />and buildings constituting part of the Trust Estate for an amount no less than the amount of the unpaid principal balance of the
<br />Note (co- insurance not exceeding 80% permitted). Such insurance policy shall contain a standard mortgage clause in favor of
<br />Beneficiary and shall not be cancelable, terminable or modifiable without ten days' prior written notice to Beneficiary. Trustor
<br />shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear and tear, the
<br />Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate.
<br />5. Actions Affecting Trust Estate. Trustor shall appear in and contest any action or proceeding purporting to
<br />affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost
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