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<br /> • 4
<br /> DEED OF TRUST WITH FUTURE ADVANCES
<br /> THIS DEED OF TRUST, is made as of the 27 day of September , �s 99 , by and among�
<br /> ,S
<br /> the Trustor, Bruce A Schutte and Lynn A �Sehutte;:..; Husband and Wife �
<br /> whose mailing address is 42�7 Caivin Briv�, Crand Isl�rtd� iJT �i�u3C1 (herein"Trusto�",whether one or more),
<br /> the Trustee nTo�,Ya�ka Fnergy FP�lPral Gredit nion
<br /> whose mailing address is p 0 Box 499, ol�imbt��, NF 68602-04A�3 _(herein"Trustee"),and "
<br /> the Beneficiary, Nebraska Energy Federal redi t tlnion
<br /> whose mailing address is P 0 Box 49�, Coltunbus, NE 68602-04�9 (herein"Lende�').
<br /> FOR VALUABLE CONSIDERATION,includin Lender's extension of credit identified herein to
<br /> Bruce A Schutte and Lynn A, Sc�utte, . Husband and Wife
<br /> (herein "Borrower," whether one or more) and the trust herein created, the receipt
<br /> 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 /> Lot Four (4), Block 'I�ao (2), Lake Davis Acres Subdivision, Hall County, NE
<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 per-
<br /> sonal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling equip-
<br /> ment; and together with the homestead or marital interests, if any,which interests are hereby released and waived; all of which, includ-
<br /> ing replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and
<br /> all of 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 agree-
<br /> ment dated Se�tember 27� 1���� , having a maturiry date of none s tai.ed
<br /> in the original principal amount of $ 17,747.00 , and any and all modifications, extensions and renewals I
<br /> thereof or thereto and any and all future advances and readvances to Borrower(or any of them if more than one) hereunder pursuant �
<br /> to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment of other sums advanced by Lender to i
<br /> protect the security of the Note; (c)the performance of all covenants and agreements of Trustor set forth herein; and(d)all present and
<br /> future indebtedness and obligations of Borrower(or any of them if more than one)to Lender whether direct, indirect,absolute or contin-
<br /> gent and whether arising by note, guaranty,overdraft or otherwise.The Note, this Deed of Trust and any and all other documents that
<br /> secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and
<br /> assignments of leases and rents,shall be referred to herein as the"Loan Instruments". I
<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 creat-
<br /> ed hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to
<br /> Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or
<br /> other obligation to which Trustor is subject.
<br /> 3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property
<br /> now or hereafter levied. i
<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
<br /> named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br /> compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness
<br /> secured hereby and in such order as Lender may determine, (ii)to the Trustor to be used for the repair or restoration of the Property or
<br /> (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
<br /> hereby before such payment ever took place.Any applications of proceeds to indebtedness shall not extend or postpone the due date
<br /> of any payments under 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
<br /> sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against
<br /> the Property, (ii) the premiums on the property insurance required hereunder,and (iii) the premiums on any mortgage insurance
<br /> required by Lender. •
<br /> 6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br /> promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deteriora- �
<br /> tion of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, suffer i
<br /> or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly dis-
<br /> charge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or accessed against the Property or any
<br /> part thereof.
<br /> 7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter
<br />� NBC 3457(Nmapricutlural DeeA)Rev.5196 . ... .
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