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<br /> NEBRASKA DEED OF TRUST � � � o
<br /> 9 9 112 0 8 0 (With Power of Sale)
<br /> THIS DEED OF TRUST,made this �7 day of DECEMBER , 1999 , �,;
<br /> between MITCHELL D LAU & JONA S LAU, HUSBAND & WIFE AS JOINT TENANTS > �
<br /> whose mailing address is 14915 S BUFFALO ROA� DONIPHAN, NE 68832 , �
<br /> as Trustors, STEWART TITLE 6UARANTY COMPANY p
<br /> whose nailing address is i22G WASHIN�TON STE iG0 KANSAS CITY MO 64105 ,
<br /> as Trustee,and Norwest Financial Nebraska,Inc.,whose mailing address is 2319 NORTH WEBB ROAD
<br /> GRAND ISLAND, NE 68803 , as Beneficiary,
<br /> WITNESSETH,Trustors hereby irrevocably,grant,bargain,sell,and convey to Trustee in lrust,with power of sale,the following described
<br /> property in H A L L County,Nebraska:
<br /> THE DESCRIPTION OF THE PROPERTY IS ON A SEPARATE FORM ATTACHED TO
<br /> THIS MORTGAGE/DEED OF TRUST, WHICH DESCRIPTION IS PART OF THIS
<br /> MORTGAGE/DEED OF TRUST.
<br /> Together with tenements,hereditaments,and appurtenances thereunto belonging or in anywise appertaining and the rents,issues and profits
<br /> thereof. .
<br /> This conveyance is intended for the purpose of securing the payment to Beneficiary of Trustors'promissory note of even date in the amount
<br /> of$69,888.00 (Total of Payments).Said Tota1 of Payments is repayable according to the terms of said note.Payment may be made in
<br /> advance in any amount at any time. Default in making any payment shall,at the Beneficiary's option and without notice or demand,render the
<br /> entire unpaid balance of said loan at once due and payable,less any required rebate of charges.
<br /> To protect the security of this Deed of Trust,Trustor covenants and agrees:
<br /> 1.To keep the property in good condition and repair;to permit no waste thereof;to complete any building,structure or unprovement being
<br /> built or about to be built thereon;to restore promptly any building,structure or improvement thereon which may be damaged or destroyed;and to
<br /> comply with all laws,ordinances,regulations,covenants,conditions and restrictions affecting the property.
<br /> 2.To pay before delinquent all lawful taxes and assessments upon the property;to keep the property free and clear of all other charges,liens
<br /> or encumbrances impairing the security of this Deed of Trust.
<br /> 3.To keep all buildings now or hereafter erected on the property described herein continuously insured against loss by fire or other hazards
<br /> in an amount not less than the total debt secured by this Deed of Trust.All policies shall be held by the Beneficiary,and be in such companies as
<br /> the Beneficiazy may approve and have loss payable first to the Beneficiary as its interest may appear and then to the Trustor. The amount
<br /> collected under any insurance policy may be applied upon any indebtedness hereby secured in such order as the Beneficiary shall determine.
<br /> Such appiication by the Beneficiary shall not cause discontinuance of any�toceed'ufgs to foreclose this Deed of Trust or cure or waive any
<br /> default or notice of default or invalidate any act done pursuant to such notice.In the event of fareclosure,all rights of the Trustor in insurance
<br /> policies then in force shall pass to the putchaser at the foreclosure sale.
<br /> 4.To obtain the written consent of Beneficiary before selling,conveying or otherwise transfening the property or any part thereof and any
<br /> such sale,conveyance or transfer without the Beneficiary's written consent shall constitute a default under the terms hereof.
<br /> 5.To defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiazy or Trustee.
<br /> 6. Should Trustor fail to pay when due any t�es, assessments,insurance premiums, liens, encumbrances or other charges against the
<br /> property hereinabove described,Beneficiary may pay the same,and the amount so paid,with interest at the rate set forth in the note secured
<br /> hereby,shall be added to and become a part of the debt secttred in this Deed of Trust as permitted by law.
<br /> IT I5 MUTUALLY AGREED THAT:
<br /> 1.In the event any portion of the property is taken or damaged in an eminent domain proceeding,the entire amount of the award or such
<br /> portion thereof as may be necessary to fully satisfy the obligation secured hereby,shall be paid to Beneficiary to be applied to said obligation.
<br /> 2.By accepting payment of any sum secured hereby after its due date,Beneficiary does not waive its right to require prompt payment when
<br /> due of all other sums so secured or to declare default for failure to so pay.
<br /> 3.The Trustee shall reconvey all or any part of the property covered by this Deed of Trust to the person entitled thereto,on written request
<br /> of khe Trustor and the Beneficiazy,or upon satisfaction of the obligation secured and written request for reconveyance made by the Beneficiary or
<br /> the person entitled thereto.
<br /> NE-991-1 197-1
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