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<br /> � 99 108899 �� � �o
<br /> �
<br /> DEED OF TRUST WITH FUTURE ADVANCES
<br /> THIS DEED OF TRUST, is made as of the ��th day of AUgLiSt , �s99 ,by and among�
<br /> �
<br /> the rrustor, David D. Marsh and Jacquelyn C. Marsh, Husband and Wife °�, �
<br /> whose mailing address is 2416 West John, Grand Island, NE 68803 (herein "Trustor," whether one or more),
<br /> tne Trustee, Bank of Doniphan
<br /> whose mailing address is P•0. Bo� 270, Doniphan NE 68832 (herein "Trustee"),and
<br /> Bank of Doniphan
<br /> the Beneficiary,
<br /> P.O. Box 270, Doniphan, NE 68832
<br /> whose mailing address is
<br /> (herein "Lender").
<br /> FOR VALUABLE CONSIDERATION,including Lender's extension of credit identified herein to DaVld D. Marsh and
<br /> Jacquelyn C. Marsh
<br /> (herein "Borrower", whether one or more) and the trust herein created, the
<br /> receipt of which is hereby acknowledged,Trustor hereby irrevocably grants,transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br /> POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real
<br /> property,described as follows:
<br /> Fractional Lot Seventeen (17) and the Westerly Eight (8) feet of Fractional Lot
<br /> Eighteen (18) , all in Fractional Block One (1) in Parkhill Subdivision, an Addition
<br /> to the city of Grand Island, Hall County, Nebraska and Fractional Lot Twenty One (21)
<br /> and the Westerly Eight (8) feet of Fractional Lot Twenty Two (22) all in Fractional
<br /> Block Eight (8) in Ashton Place, an Addition to the Ci�_of Grand Island, Hall Countv, _
<br /> � -�o s��Rsss: �� �7.5 e�st Jo�n,�"ran� Island, NE 68803
<br /> Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances
<br /> located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such personal
<br /> property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling equipment;
<br /> and together with the homestead or marital interests, if any, which interests are hereby released and waived; all of which, including
<br /> replacements and additions thereto, is hereby decla�ed to be a part of the real estate secured by the lien of this Deed of Trust and all of
<br /> the foregoing being referred to herein as the "Property".
<br /> This Deed of Trust shall secure(a)the payment of the principal sum and interest evidenced by a promissory note or credit
<br /> agreement dated August 30, 1999 ,having a maturity date of September 15,2003
<br /> in the original principal amount of S 8�520.50 , and any and atl modifications, extensions and renewals
<br /> thereof or thereto and any and all future advances and readvances to Borrower(or any of them if more than one) hereunder pursu,ant to
<br /> one or more promissory notes or credit agreements (herein called "Note"►; (b)the payment of other sums advanced by Lender to protect
<br /> the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future
<br /> indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct, indirect, absolute or contingent
<br /> and whether arising by note, guaranty,overdraft or otherwise. The Note,this Deed of Trust and any and all other documents that secure
<br /> the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and assignments
<br /> of leases and rents,shall be referred to herein as the"Loan Insiruments".
<br /> Trustor covenants and agrees with Lender as follows:
<br /> 1. Payment of Indebtedness.All indebtedness secured hereby shall be paid when due.
<br /> 2. Title.Trustor is the owner of the Property,has the right and authority to convey the Property, and warrants that the lien created
<br /> hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to Lender
<br /> before execution of this Deed of Trust, and the execu2ion and delivery of this Des� of trust tioes nnt viclais any contract or oiher
<br /> obligation to which Trustor is subject.
<br /> 3. Texes,Asssssments.To pay before delinquency all taxes, special assessments and all other charges against the Property now or
<br /> hereafter levied.
<br /> 4. Insurance. To keep the Property insured against damage by fire, hazards, included within the term "extended coverage", and
<br /> such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additional named
<br /> insured, with loss payable to the Lender. In case of loss under such policies,the Lender is authorized to adjust, collect and compromise,
<br /> all claims thereunder and shall have the option of applying all or part of the insurance proceeds (il to any indebtedness secured hereby
<br /> and in such order as Lender may determine, (ii)to the Trustor to be used for the repair or restoration of the Property or(iii) for any other
<br /> purpose or object satisfactory to Lende�without affecting the lien of this Deed of Trust for the full amount secured hereby before such
<br /> payment ever took place.Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under
<br /> the Note,or cure any default thereunder or hereunder.
<br /> 5. Escrow. Upon written demand by Lender,Trustor shall pay to Lender, in such manner as Lender may designate, sufficient sums
<br /> to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against the
<br /> Property, (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance required by
<br /> Lender. -�
<br />, 6. Malntenance, Repalrs and Compllance wlth Lews. Trustor shall keep the Property in good condition and repair; shall promptly
<br /> �epair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deterioration of the
<br /> Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, suffer or permit
<br /> any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly discharge at
<br /> Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof.
<br /> NacaaR�s iu.....�.i�.�u.�..�n.ed�o... ��io� �_
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