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<br /> � �� � � ' � DEED OF TRUST WITH FUTURE ADVANCES �
<br /> � 1�3th � December 99
<br /> � THIS DEED OF TRUST,is:made as of the day of , 19 , by and am�ng
<br /> the Trustor, Miehae� D:� Short and Sally J. Short, Husband and Wife �
<br /> ��
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<br /> whoae meiling addreas is !• 107 N�.. York, DOniphan, NE 68832 (herefn "Trustor," whether one or morel,
<br /> the Trustee, � � � Bank,.o� Doniphan
<br /> whose matling addreas Is �'� �P+O.: Box 270, Doniphan, NE 68832 (herein "Trustee"�, and
<br /> the Beneficiery;' •�� ����������SDO�iphan �
<br /> .
<br /> whose mailing eddresa i§_'�'� �•�0► BOx 2'7��;; Doniphan, NE 68832 (herein "Lender").
<br /> .: FOR VALUABLE CONSIDEHATION,Including Lender's extension of credit identified herein to
<br /> ` Michael and Sa�ly Shbrt
<br /> , _ .. . , � .
<br /> (herein "Borrower", whether one or more) and the trust herein created,the
<br /> recefpt 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 /> Lots Thirty-two, (32) and Thirty-three (33) , Scudder's Second Addition to the Village
<br /> of Doniphan, Hall County, Nebraska.
<br /> . . �. � . ,
<br /> . ,;,:: .
<br /> PROPgRTY ADDRfiSSs �0'� N.. York,, Doniphan, NE 68832
<br /> Together wlth 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 herehy released and waived; all of which, including
<br /> replacements and addltions thereto, is hereby declared to be a part of the rea�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
<br /> agreement dated December 13, 1999 ,having a maturity date of December 15, 2004
<br /> in the o�iginal p�incipal amount of 8 50,429.92 , and any and all modifications, extensions and renewals
<br /> thereof or thereto and any a�d ell future edvences end readvancea to Borrower(or any of them if more than one) hereunder pursuant to
<br /> one or more promissory notes or credit agreements (herein called "Note"1; (b)the payment of other sums advanced by Lender to protect
<br /> the security of the Note; (c)the performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future
<br /> Indebtednesa and obligetlons of Borrower (or any of them If more than one) to Lender whether direct, indirect, abeolute or contingent
<br /> and whether aristng by note, guaranty,overdraft or otherwise.The Note,this Deed of Trust and any and all other documents that secure
<br /> the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and assignments
<br /> of leases and rents,shall be referred to hereln as the "Loan Instruments".
<br /> Trustor covenanta and agrees with Lender es follows:
<br /> 1. Payment of Indebtedness.All indebtedness secured hereby shall be pa(d 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 Ilens and encumbrances set forth by Trustor in writing and delivered to Lende�
<br /> before execution of this'Deed of Trust, and the execution end delivery of this Deed of trust does not violate any contract or other
<br /> obligation to which Trusto�is subJect.
<br /> 3. Taxes,Assessments.To pay before delinquency all taxes,speclal assessments and all other charges against the Property now or
<br /> hereafter levied. � •
<br /> 4. Insurance: To'�keep'the 1Property Insured agalnst damage by fire, hazerds, included withln the term "extend�d coveraga', and
<br /> such other hazards'as�lender may require, In amounta and with companies acceptable to Lender, naming Lender as an additlonal named
<br /> insured, with loss peyable to the Lender. In case of loss under auch policies, tha Lender is authorized to adjust, collect and compromise,
<br /> all cleims thereunder and shall have the optlon of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby
<br /> and In such order es Lender may determine, ((()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 Ifen of thls Deed of Trust for the full amount secured hereby before such
<br /> payment ever took place. Any appl(cation of proceeds to indebtedness shell not extend or postpone the due date of any payments under
<br /> the Note,or cure any default thereunder or hereunder.
<br /> 6. Escrow. Upo� written demand by Lende�,Trustor shall pay to Lender, In such manner as Lender may deslgnate, sufficlant sums
<br /> to enable Lender to pay as they become due one or more of the following: (i) all taxea, assessments and other charges against the
<br /> Property, (ii) the premfuma on the property Inaurance required hereunder, and (iii) the premiuma on any mortgage inaurance required by
<br /> Lender. •• •
<br />, 8. Malntenence, Repalrs snd Compllence with Lews. Trustor shall keep the Property in good condition and repair; shall promptly
<br /> �epair, or replace eny improvement which may be damaged or dest�oyed; shall not commit or permit any waste or deterioration of the
<br /> P�operty; shall not remove, demolish or subatantially alter any of the improvementa on the Property; shall not commit, euffer or permit
<br /> any ect to be done in or upon the Property In violetion of any law, ordinance, or regulation; and shall pay and promptly discharge at
<br /> Trustor's cost and expense ell Ilens,encumbrances and charges levied, imposed or assessed against the Property or any part thereof.
<br /> I NBC9467A (Non�prlaulturel Dasd►Rw,12/87
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