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<br /> �• DEED OF'�'RUST �
<br /> , � . TH18 DEED OF TRUST.ia made as of the,�,2�day of March,1994�by and among Michael Nipon,(°Tnistor'),whose " �
<br /> " � ., maNlnB�sddress Is 1017 W 14th St..arand Isiand,NH 68801 and Cifftord F. Mesner('Trustee'),w�hose maliirtg address is - � �
<br /> • RQ�.8ox 335,Cetitral Criy,NE 88826,and Ciayton E.l,uther and Martlyn M.Luther,husband and wife,("BenaNctar�')whose , - . _
<br /> maqtnp address ts 2719 Brerriwood Bivd.,Q�and Isiand, NE 68801.
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<br /> • �� FOR VAWABLE CONSIDERATION.Trustor IRevocably t�anafere,corneys and assigns to Trustee,IN TRU3T,WITH
<br /> � � POVII�R OF 8ALE,tor the beneflt and security oi Beneflciary,und�r and subJect to the terms and condftions of this Oeed •
<br /> of Trust�the real property located in the City of arand Island,Counry ot Hali�State of Nebraska,and legatly described as .
<br /> , followa(the'P�opert�j: .
<br /> � Lo!3even(7), Block Two(2)in 3pautding and aregg's Additlon to the City of arand Island,Hali County.
<br /> ,`�' Nebraska
<br /> TOQETHBR WITH, all rente, easements,appurtenances,hereditaments, intereats tn adjolning roads, streets and C
<br /> . �:---. _... . - - aiiii i►�iiii ' ss�of 3st�!:Ict:!ERtSSi�lhCfCQR 3lS�3R�:f"..Q!!3I�?f0�ltj�lhflt lnfly 4.ia nr haraaftar ha�nma
<br /> - y �ii'iaVerY'�iotiio a7i..''�3it1l�i ' .�- _:.--
<br /> " an integral paR of such butidinga and improvements,sil crops ralsed thereon,and aU water rights. i
<br /> s .
<br /> The F'roperty and the eMire estate and interest corneyed to the Trustee are referred to coliectively as the'Trust �,.
<br /> Estate'. ! "
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<br /> FOR THE PURPOSE OF SECURINa: �
<br /> ��
<br /> a. Paymant of indebtedness in the total pttncipal amount of$125,000,with interest thereon,as evidenced by � '
<br /> that certain promiseory note of even date(the"Note'�wfth a maturity date of Merch t,2004,executed by Trustor,which has � ..• '
<br /> been delhrered arsd ts payable to the order of Beneflcisry,and which by this reference Is hereby made a part hereof.and � �" � ;;;�,�^�
<br /> any and ail modiflcationa,extenalona and renewats thereof,and � � ___,j�
<br /> _ _. . � � ��
<br /> , b. Payment of aii sums advanced by Beneflciary to protect the Trust Estate,wfth Interest thereon at the�ate � +
<br /> of eight and one-half percent(8.596)per ennum. � '� ;
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<br /> c, It is understood and agreed that the Trustar shall not be permitted to make additionai paymants on the � � ,��
<br /> principat be9ore fNe(5) yeara from this date. It is further understood and agreed that the undersigned shall be permitted �� ;} I
<br /> to make addftional payments on the principal after flve(5�ycars from th ts date,at any t ime,w it hout pena i t y. ; r�,,,x;�
<br /> , , �
<br /> � This Oeed ot Trust,the Note, and any other instrument gtven to evidence or further secure the payment and �
<br /> ��' pertormance ot eny obltgation Recured hereby are referred to collecttvely as the"Loan Instruments". ,i
<br /> (� TO PROTECT THE SECURITY OF THIS DEEI�OF TRUST: '��
<br /> 1. PAYMENT AF INDEBTEDNES3. Trustor shall pay when due the princtpai of, and the interest on, the
<br /> tndebtedness evidenced by the Note,charges,feea and ail other sums as provided in the Loan Instruments.
<br /> I2. TAXES. Trustor ahall pay each installment of all taxes and speciai assessments of every kind, now or
<br /> hereafter tevi2d agalnst the Tn�st Estate or any part thereof,before delinquency,without notice or demand,and shall provide
<br /> Beneflctary with evidence of the payment ot same. T�ustor shatl pay all taxes and assessments which may be Ievied upon
<br /> .; Beneflciary's interest heretn or upon this Deed oi Trust or the debt secured hereby,without regard to any Iaw that may be
<br /> enacted Impostng payrneM of the whoie or any part thereof upon the Benefictary.
<br /> 3. INSURANCE AND REPAIRS. Trustor shall mafntaln flre and extended coverage insurance insuring the
<br /> tmprovements and buildings constitut(ng part of the Trust Estate for an amount no Iess than the amount of the unpald
<br /> • principal balance of the Note(Co-insurance not exceeding 80% permitted). Such insurance poticy sha�l contaln a standard
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