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<br /> NEBRASKA DEED OF TRUST— LINE OF CREDIT
<br /> (With Power of Sale) �
<br /> THIS DEED OF TRUST, made this 17 day of December , 1999 c
<br /> belweenMitchell D. Lau & jona S. Lau, Hus an wi e as �oint tenan s �
<br /> whose mailing address is 1491 So � 1� R�tffaln Rnari T�nninhan, NP F,RR�2 � o
<br /> as Trustors, Stewart Title Guarantv Companv '
<br /> whose mailing address is 1220 Washineton Suite 100 Kansa i v MO 64105
<br /> as TNStee,and Dial Bank,whose mailing address is 3201 North 4�Ave,Sioux Falls,SD 57104,as Beneficiary,
<br /> WITNESSETH,Trustors hereby irrevocably,grant, bargain,sell,and convey to Trustee in trust,with power of sale,the following described property
<br /> i� Hall County,Nebraska:
<br /> The description of the property is on a separate form attached to this Mortgage/Deed
<br /> 11of Trust, which description is part of this 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 initial and future advances to Trustor's under a Credit Card
<br /> Account Agreement ("Agreement") in an amount of principal not to exceed $200,000.00 outstanding at any one time, plus interest on the principal
<br /> outstanding from time to time at the rates from time to time provided for thereunder. Payment may be made in advance in any amount of any time.
<br /> Default in making any payment shall,at the Beneficiary's option and without notice or demand,render the entire unpaid balance of said loan at once due
<br /> 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; lo permit no waste thereof;to complete any building,structure or improvement being built or
<br /> about to be built thereon;to restore promptly any building,sUucture or improvement thereon which may be damaged or destroyed;and to comply with all
<br /> laws,ordinances,regulations,covenants,condi6ons and restrictions affecting the property. -
<br /> 2. To pay before delinquent ali lawful taxes and assessments upon the property;to keep the property free and clear of all other charges, liens or
<br /> encumbrances impairing the security of this Deed of Trust.
<br /> 3. To keep all buildings now or hereafter erected on the prope�ty described herein continuously insured against loss by fire or other hazards in an
<br /> 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 the
<br /> Beneficiary may approve and have loss payable first to the Beneficiary as its interest ma,�appear and then to the T�ustor. The amount collected under
<br /> any insurance policy may be applied upon any indebtedness hereby secured in such orderas the Beneficiary shall determine. Such application by the
<br /> Beneficiary shall not cause discontinuance of any proceediFlgs;ta forecbse this.E�eeed of Trust or cure or waive any default or notice of default or
<br /> invalidate any act done pursuant to such notice. In the event of fot2�tosure;ali rights of the Trustor in insurance policies then in force shall pass to the
<br /> purchaser at the foreclosure sale.
<br /> 4. To obtain the written consent of Beneficiary before selling, conveying or otherwise transferring the property or any part thereof and any such
<br /> 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 Beneficiary or Trustee.
<br /> 6. Should Trustor fail to pay when due any taxes,assessments,insurance premiums,liens,encumbrances or other charges against the property
<br /> hereinabove described, Beneficiary may pay the same, and the amount so paid,with interest at the rate set forth in the note secured hereby, shall be
<br /> added to and become a part of the debt secured in this Deed of Trust as permitted by law.
<br /> IT IS 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 portion
<br /> 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 due of
<br /> 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 of the
<br /> Trustor and the Beneficiary,or upon satisfaction of the obligation secured and written request for reconveyance made by the Beneficiary or the person
<br /> en6tled thereto.
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