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<br /> � - . DEEA OF TRUST ��� 1(j',,''�i 3
<br /> 'This DEBD OF T'RUST ia ma@e thie 19th day of MarEh� 1994� by and among DAVID F.LA�60N
<br /> _______ ___ _ __ and PENNY 6. LAW30N. �u�baad �tnd wife, hertinaRer rafened to as"Tru�torr." whethar one or more.
<br /> whose n�ailing address is P.O. Hox 19s, C�iro. Nebr�ulc� 6ltAT4; THE STAT�,' BANK OF CAIItO� •
<br /> �--=-- -� Pieibrasic� ��ItiilAg COi ii0tr'fiti0i"i, 0�rainaftcr rofetred to t� "Taz�asez,�� whor,a mailirtg addres3 i� �ba 42d, .- . . - - --
<br /> C�uiro, Nebraslu� 6�24; and THE STATE HANK OF �AIRO, a Nebralu Baakte� Corpor�tton.
<br /> berefnaPter referred to as"Benefici�ry,"whose mailtng address ie Boa 42s,C�iro�Nebradu 6s8Z4.
<br /> For valuable consideradon, Trustors Inevecably grant, transfer,wnvey and assign to Trostee, tn trust.
<br /> with power of sale,for the beme8t and securlty of BeneSciary,under and subject to the terms and conditions of
<br /> :;,;
<br /> tuis Deed of Trust,the followtng described real property located in HAI.L County,N�braska:
<br /> The West Half(W 1/2)of Lots Four(4)and Five(5)in Block Ome(1),ia the 6th Addition to tha
<br /> ��� � ViUage of Cairo,I'riail County.Nebraska, � ----
<br /> to ether with all buildin s,improvements, fixtures, streets,alleys, passageways,easements,righta. privtleges and
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<br /> ��..._.__ :NGN:aY.::'SLt:..w'.� _ .
<br /> .. --,�,.�. a urtonances Iocated thereon,and alt persuual property itiaat rriay bc an c�rcafter becosne sa sntegra!pt�rttt o suc -- - -- ---
<br /> fr�`�`��'���;'�': ''''� buildings and improvements,all crops raised thereon, and aU water xights, all of which, encluding replacEanents
<br /> �� F j and addipona thereto,ere hereby declared to be a part ot'the real estate�conveyed in trust hereby,it being agreed
<br /> �� �`�'`'� �`'' ��� that aU of the foregoing shall be kereinaRer referred to as the Property.
<br /> • �,,_�:
<br /> � FOR THE PURPOSE OF SECURING:
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<br /> .. : a. Payment of indebtedness evidenced by Trustora' note of even date herewith in the principal sum of �_
<br /> $7,500.00, together with interest at the rate or rates provided therein,and any and a11 renewais, modiFcations ��- -.—
<br /> - - � • —
<br /> � "� " = and extensions of such note,both principai and itrterest on thC n�Ee being pnyni�tc irt ac:c;cc�rdaftee with itte tsrms �"��
<br /> , � , set forth therein,which by this reference is hereby made a part hereofl, �_°_
<br /> , b. The performance of each agreement and covenant of Trustors herein contained;and --;�f.�-;-_
<br /> ° c. The payment of all sums advanced by Beneficiary under the terms of this Deed of Trust, together with : �t:-.;:�;
<br /> ' interest thereon at the rate provided in the note. . -
<br /> d. The above amount is secured even though all or part of it may not yet be advance. Future advances under � � y�,-
<br /> , the agreement are contemplated and will be secured to the same extent as if made on the date this deed of trust is ,. � �_
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<br /> executed. ���'�-
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<br /> � • TO PROTECT THE SECURITY OF THIS DEED OF TRUST.TRUSTO1tS HEREBY COVENANT AND AGREL: ,r;x„�c`
<br /> 1. To pay when due, thc principal of,and the interest on, the indebtedness evidcnced by the note,charges.fees and all other � y���
<br /> ' . sums as provided in the loan instnunents. .. _. ..
<br /> 2. Trustors are th�o�mers of the pmperty and have the right and authorlty to executc tlus Uecd of Tcust in respcx;t to the
<br /> , .. ProPeriY• ,.
<br /> 3, To pay, when due, all taxes, special assessments and all other charges a�ainst the properiy, before the same become ..
<br /> delinquent. Trustors shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of �
<br /> Tn�st or the debt secured hercby,without regard to any law that may be enacted imposing pa�ment of the whole or any part thereof �•
<br /> � ,• - ��� upon the Beneficiary. '
<br /> , 4. To keep the improvements now or hereaRer located on the propert�•insured against damage by fire and such other hazards as �
<br /> the BeneRc�ary may require. in amounts and companies acceptabte to the Benefician•.Such insurance policy shall contain a standard �
<br /> . mortgage clause in favor of Beneficiary. Trustor shall promptly repair, muintain and replace the property or any part thereof, so !.
<br /> tha�except for ordinary wcar and tear.the property shall not detcriorate. ;
<br /> S. In the event the properry.or any part thereof. shall be taken by eminent domain. the Beneficiary is entitled to collect and �
<br /> r f receive all compensauon�vhich may be paid for any property taken or for damages to property not taken. and the Beneficiary shall ,
<br /> • apply such compensation,at its option,either to a reduction of the indebtedness scxured hereb�•.or to nepair and restore the properly .
<br /> so taken. ,
<br /> .� • 6. The BeneGciary may. but shall ha��e no obiigation to, do am• act which Trusrors have agreed but failed to do, nnd the
<br /> � Beneficiary may also do any act it decros necessan�to protcct the lien hereof. Trustors agree to rcpa�•,upon demand. any sums so
<br /> expended by the Beneficiary for the abo�•c purposes.and am•sum so expended shall be added to the indebtedness secured hereb��and
<br /> : + beoome securod by the lien hereof. The Beneficiary shali no incur am• liability because of anyKhing it ma}� do or omit to do
<br /> hereunder.
<br /> - ' —1 _�._u t__._ .�._ �:..A. ..... .....1 o..�Mn�iti,iiunnn�M MMf�t111qtlM nl'f6ic TL�.vi nf Tn�d tn mtlrr� thr Mt1tC .
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<br /> �:_... --r-------...... ._.. _ . %. 1 IIC DCIICItGtd[�' JtUi�t twv�. tub .aFjua. rv.�."�.:v....w..........; ........p...��.........�...�� ...........�..�' "—''- "'--" ---- -----'
<br /> : issues and profits of the propem• and of any personel propem• tocated thcreon ��ith or«�ithout taking posscssion of the properh•
<br /> � aflected heteby,and Tcustors hereby absolutch•and unoonditionall�•assign all such cents. issucs and profits to the benefician•. Thc
<br /> ��� � � beneficiary.however,hemby consents to Tn�stors'collection and retention of such rents, issues and profits. so long as Tnistors am
<br /> ',' ,. no�at such time, in default with rcspoce to payment of any indebtedness secured hereby�,or in the performance of an}•agreemem
<br /> ti 'j, �� hercundcr. If any event of default descnbcd hereafter in mspect to this Dcrd of'frust shall ha��e occumd and be conaniung,the
<br /> . Beneficiary.as a matter of right and���ithout noticc to Trustors or am�onc cluimm�undcr Trustors.and��ythout rcgard to the��aluc of
<br /> � the tn�st estatc or the intcresK of thc Ttustors thcrcin. shall ha�•c thc nght to apph• to am•rnurt ha�ting�unsdtction to appoint n
<br /> f recciver of thc propcny.
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