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<br /> 99 10 '7266 `_.' � °'
<br /> DEED OF TRUST
<br /> This Deed of Trust made this l2tn day of Jul. , 1999 by;
<br /> TiuStOr: Cosrec Enterprises , p, �g�� pp,R��HIP
<br /> Address 300 N 27 St #3 Lincoln Ne 68503-3557
<br /> Beneficiary: Carnhusker Bank ,
<br /> Address: P O Box 80009, Lincoln, Nebraska 68501 ��
<br /> Trustee: Cornhusker Bank �
<br /> Address: P O Box 80009, Lincoln, Nebraska 68501 `�
<br /> For valuable consideration, Trustor irrecovably grants, conveys, and assigns to Trustee, IN TRUST,
<br /> WITH POWER OF SALE, for the benefit and security of �eneficiary, under and subject to the terms and
<br /> conditions of this Deed of Trust, the following described real property located in x�L County, Nebraska:
<br /> THE WESTERLY ONE-THIRD (W1/3) OF LOT ONE (1) , IN BLOCK SIXTY-FOUR (64) ,
<br /> ORIGINAL TOWN, NOW CITY OF GRAND ISLAND , HALL COUNTY, NEBRASKA
<br /> 305 WEST 3RD, GR.AND ISLAND
<br /> � (Hereinafter called the Premises)
<br /> together with all buildings and improvements now or hereafter erected upon the premises; all rents, profits,
<br /> royalties, income and other benefits derived from the premises; all easements, licenses, rights of way now or
<br /> hereafter accruing to the premises; and any and all awards made for the taking of eminent domain, including
<br /> proceeds of any agreement made in lieu thereof; and,
<br /> All are collectively called the Security.
<br /> FOR THE PURPOSE OF SECURING:
<br /> (a) The payment of the debt to the Beneficiary in the principal sum of$ 2 4 4, o 0 0.o o together wit
<br /> interest and upon terms provided in the notes and any and all renewals, modifications, extensions or futur
<br /> advances, as evidenced by Trustor's note in the amount of$ 2 4 4, o 0 0.o o dated 7/12/9 9
<br /> (b) The performance of each agreement between the Trustor and Beneficiazy; the covenants of the Trusto
<br /> in this Deed of Trust;
<br /> (c) The payment of any sum or sums with interest thereon which may later arise under the terms of th
<br /> Deed of Trust; Future advancements may not exceed a sum equal to three (3) times the original principal amount o
<br /> the above-recited note; and
<br /> (d) Future advances, in one or more transactions evidenced by promissory note up to an aggregate principa
<br /> limit of$ �3 2, o 0 0.o o together with interest and upon the terms provided in the notes evidencing such futur
<br /> advances and any and a11 renewal modifications and extensions of such notes.
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS AND
<br /> AGREES AS FOLLOWS:
<br /> 1. Obligation. Trustor shall promptly pay when due the principal of and interest on the indebtednes
<br /> evidenced by the note, and all other charges and fees provided in the note or secured by this Deed of Trust, and th
<br /> principal of and interest on any future advances secured by this Deed of Trust not to exceed three (3) times th
<br /> original principal amount of the above-recited note.
<br /> 2. Warrantv of 1�tle Trustor is lawfully seized and possessed of good and indefeasible title and estate to th
<br /> property hereby conveyed and has the right to grant and convey the property; the property is free and clear of a
<br /> liens and encumbrances, except those appropriately recorded. Trustor shall warrant and defend the title to th
<br /> property against all claims and demand.
<br /> 3. Maintenance of the ecurity
<br /> 3.1 Trustor shall keep the security in good condition and repair; shall not commit or suffer waste; shall no
<br /> do or allow anything to be done which will increase the risk of fire or other casualty to the premises or diminis
<br /> the value of the security except reasonable wear and tear; and, shall not alter the design or structural character o
<br /> any building within the security without the written consent of the Beneficiary.
<br /> 3.2 If the security or any part thereof is ;damaged by fire or other cause including condemnation, Trusto
<br /> shall give immediate written notice of the event to the Beneficiary. Trustor shall use any proceeds of compensatio
<br /> far the damage from insurance, condemnation award ar otherwise to restore or replace the security damaged to th
<br /> equivalent of its original condition or shall pay such proceeds to the Beneficiary at the option of the Beneficiary. I
<br /> part of the security is damaged, the Trustor shall restore, repair or alter the remaining property in a manne
<br /> satisfactory to the Beneficiary.
<br /> 3.3 The Beneficiary or its representative is hereby authorized to enter upon and inspect the premises at an
<br /> time during normal business hours.
<br /> 3.4 The Trustor will promptly comply with all present and future laws, ordinances, rules and regulations o
<br /> any governmental authority affecting the premises or any part thereof. This shall apply to any construction upo
<br /> the premises as well as the operation of any business upon the premises.
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