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<br /> DEED OF TRUST WITH FUTURE ADVANCES
<br /> ��
<br /> THIS DEED OF TRUST, is made as of the 21st day of December, 1999, by and among KENNETH C. DURAND and�
<br /> CHRISTINE L. DURAND, husband and wife , the Trustor, whose mailing address is 3904 MARY LANE, GRAND ISLAND, NE ..��
<br /> 68803 (herein "Trustor", whether one or more), the Trustee NEBRASKA ENERGY FEDERAL CREDIT UNION whose mailing
<br /> address is, 1414 15TH STREET COLUMBUS, NE 68601 (herein "Trustee"), and the Beneficiary, NEBRASKA ENERGY FEDERAL
<br /> CREDIT UNION, whose mailing address is 1414 15TH STREET COLUMBUS, NE 68601 (herein "Lender").
<br /> FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to KENNETH C. DURAND and CHRISTINE
<br /> L. DUFiAND (herein "Borrower", whether one or more) and the trust herein created, the receipt of which is hereby acknowledged, Trustor
<br /> hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br /> Lender, under and subject to the terms and conditions hereinafter set forth, the real property, described as follows:
<br /> Lot Eight (8), Marylane Subdivision in the City of Grand Island, Hall County, Nebraska.
<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 declared 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 agreement
<br /> aaced December 21st, 1999 having a maturity date of J811U8Cy 5, 2015, in the original principal amount of $90,000.00, and
<br /> any and all modifications, extensions and renewals thereof or thereto and any and all future advances and readvances to Borrower (or
<br /> any of them if more than one) hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the
<br /> payment of other sums advanced by �ender to protect the security of the Note; (c) the performance of all covenants and agreements of
<br /> Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them if more than one) to
<br /> Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty, overdraft or otherwise. The Note, this Deed
<br /> of Trust and any and all other documents that secure the Note or otherwise executed in connection therewith, including without limitation
<br /> guarantees, security agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments".
<br /> Trustor covenants and agrees with Lender as follows:
<br /> i. 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 execution and delivery of this Deed of Trust does not violate any contract or other
<br /> obligation to which Trustor is subject.
<br /> a. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property
<br /> now or hereafter levied.
<br /> a. 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 (i) 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 Lender 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. ESCfOW. 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 /> s. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair;
<br /> shall promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or
<br /> deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit,
<br /> suffer 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
<br /> discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any
<br /> part thereof.
<br /> �. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter
<br /> "Proceeds") inconnection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of condemnation.
<br /> Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings, and shall also
<br /> be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of the Property is
<br /> so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to apply all such Proceeds, after deducting
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