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<br /> ; 99 l� �t��5
<br /> � DEED OF TRUST �
<br /> iTHIS DEED OF TRUST,is made as of lst day of October , 19 99 ,by
<br /> � and among LARRY RAKER a single person; CONNIE McCOY, a sinQY'�r}}�tp�'b�hose mailing address is
<br /> �71 5 W !*th � � ('ran�i Tcl anrl NF • TICOR TITLE INSURANC OMPANY �`
<br /> I ("Trustee"),whose mailing address is c/o P 0 Box 627, Grand Tsland, NE 6f�802 ' C''
<br /> and RUDOLF F. PLATE ("Beneficiary")
<br /> � whose mailing address is 2608 W Old Fair Road, Grand Tsland NE 68A03 i
<br /> I , �
<br /> FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN TRUST,WITH �
<br /> I POWER OF SALE,for the benefit and security of Beneficiary,under and subject to the terms and conditions of this Deed of Trust,
<br /> the real property located in the City of Grand Island , County of �
<br /> Ha 1 1 ,State of Nebraska,and legally described as follows(the"Property"): �
<br /> The West 'I�aenty-four (24) feet of Lot Thirty-Six (36) and all of Lot Thirty-Seven
<br /> (37) , West Heights Addition to the City of Grand Island, Hall County, Nebraska
<br /> i TOGETHER WITH, all rents, easements, appurtenances,hereditaments, interests in adjoining roads, streets and alleys,
<br /> improvements and buildings of any kind situated thereon and all personal property that may be or hereafter become an integral
<br /> part of such buildings and improvements,all crops raised thereon,and all water rights.
<br /> The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust Estate".
<br /> I FOR THE PURPOSE OF SECURING:
<br /> a.Payment of indebtness in the total principal amount of$ 4 5,500.00 , with interest thereon,as evidenced by that
<br /> certain promissory note of even date(the"Note")with a maturity date of OCtobeY 1, 2009 ,
<br /> executed by Trustor,which has been delivered and is payable to the order of Beneficiary,and which by this reference is hereby
<br /> made a part hereof,and any and all modifications,extensions and renewals thereof,and
<br /> b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of
<br /> Elght percent ( 8 %)per annum,and
<br /> c.The performance of Trustor's covenants and agreements.
<br /> This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br /> performance of any obligation secured hereby are referred to 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. TAXES AND ASSESSMENTS.Trustor shall pay all taxes and special assessments of every kind,now or hereafter levied
<br /> against the trust estate or any part thereof as follows:
<br /> (initial one)
<br /> * Trustor shall directly pay such t�es, without notice or demand as each installment comes due and shall
<br /> provide the beneficiary with evidence of the payment of the same.
<br /> Trustor shali pay to beneficiary one-twelfth of the real estate taxes each month and such other assessments
<br /> as they become due.The one-twelfth payment shall be adjusted annually as the tases change and trustor agrees that
<br /> after payment of the taxes each year that any deficiency will be promptly paid to Beneficiary. Beneficiary agrees
<br /> to provide trustor with receipts showing that the real estate taxes have been paid in full and when due.
<br /> 3. 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 cancellable, terminable or modifiable without ten (10) days prior written notice to Beneficiary.
<br /> Trustor shall promptly repair,maintain and replace the Trust Estate or any part thereof so that,except for ordinary wear and
<br /> tear,the Trust Estate shall not deteriorate.In no event shall the Trustor commit waste on or to the Trust Estate.
<br /> 4. 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 of
<br /> evidence of title and attorney's fees,in any such action or proceeding in which Beneficiary or Trustee may appear.Should Trustor
<br /> fail to make any payment or to do any act as and in the manner provided in any of the Loan Instruments,Beneficiary and/or
<br /> Trustee, each in its own discretion, without obligation so to do and without notice to or demand upon Trustor and without
<br /> releasing Trustor from any obligation, may make or do the same in such manner and to such extent as either may deem
<br /> necessary to protect the security hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and
<br /> expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without
<br /> limitation costs of evidence of title, court costs, appraisals, surveys and attorney's fees.Any such costs and expenses not paid
<br /> within ten(10)days of written demand shall draw interest at the default rate provided in the Note.
<br /> 5. EMINENT DOMAIN.Should the Trust Estate,or any part thereof or interest therein,be taken or damaged by reason of
<br /> any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condemnation
<br /> ("Condemnation"),or should Trustor receive any notice or other information regarding such proceeding,Trustor shall give prompt
<br /> written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other payments or relief
<br /> therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings.
<br /> Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or damage.All such
<br /> compensation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds") are hereby assigned to
<br /> Beneficiary and Trustor agrees to execute such further assignments of the Proceeds as Beneficiary or Trustee may require.
<br /> 6.FUTURE ADVANCES.Upon request of Trustor,Beneficiary,at Beneficiary's option,prior to reconveyance of the Property
<br /> to Trustor may make future advances to Trustor.Such future advances,with interest thereon,shall be secured by this Deed of
<br /> Trust when evidenced by promissory notes stating that said notes are secured hereby.
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