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r - DEED OF TRUST WITH FUTURE ADVANCES 94 ~ 104 708 THIS DEED OF TRUST, Is made as of the 25th day of Ka), 1 19G4 and among the Truster. SUSAN h. HAGNAHN & THONAG K. HAGMANK , married person 1416 Branding Iron L.n Grand Island He 68803.2923 whose rnalling address Is (herein "Truator," whether one or more), the Trustee, Five Points Bank, a Rebraeka Corporation P. D. Box 1507 Grand Island, HE 6t3802 whose mailing address is _ (herein "Trustee'l, and Five Points Bank the Beneficiary, 2015 N. Hroadtrell Grand Island, ME. 68802-1507 whose mailing address is W. therein "Lender"). SUSAN M. '11AGMANN FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein tr & THOMAS M. HAGMANN (herein "Borrower", whether one or more) and the trust herein created, the receipt of which Is hereby -acknowledged, Trustor hereby irrevocably grants, transfers, coneys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and subject to the terns and conditions hereinafter set torah, the real property, described as follows: LOT iIGHTEEN (16) WESTERN HEIGHTS 4TH SUBDIVISION, HALL. COUNTY NEBRASKA Together with all buildings, improvements, t!xtures, streets, alleys, passageways, easements, rights, privileges and appurte- nances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling equipment; and together with the homestead or marital Interests, If any, which interests are hereby released and waived; all of which, Including replacements and additions thereto, Is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being referred to herein as the "Property". This Deed of Trust shall secure (a) the payment of the principal sum and Interest evidenced by a promissory note or credit agreement dated May 25th 1994 , havlr.a a maturity date of May 15th 1999 10, 020. 50 in the original principal amount of $ _ and any and all modifications, extensions and renewals thereof or thereto and any and all future advances and readvances to Borrower (or any of them If more than one) hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment of other sums advanced by Lender to protect the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arlsing by note, guaranty, overdraft or otherwise. The Note, this feed of Trust and any and all other docuents that secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and assignments of leases and rents, shall be referred to herein as the "Loan Documents". Truator covenants and agrees with Lender as follows: 1. Payment of Indebtedness. All Indebtedness secured hereby shall be paid when due. 2. TRIe. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Trustor Is subject. 3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property now or hereafter levied. h, Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additional named Insured, with lose payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and compromise, all claims thereunder and shalt have the option of applying all or part of the insurance proceeds (1) to any indebtedness secured hereby and in such order as Lender may determine, (11) to the Trustor to be used for the repair or restoration of the Property or (iii) for any othe, purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place. Any application of proceeds to. Indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any def,iult thereunder or hereunder. 5. Escrow. Upon written demand by Lender, Truster shall pay to Lender, in such manner as Lender may designate, sufficient sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against the Property, (ii) the premiums on the property insurance required hereunder, and (Iii) the premiums on any mortgage insurance required by Lender, 6. Malntenanco, Repairs and Comp!lance with Laws. Trustor shall keep the Property in good condition and repair; shall promptly repair, o: replace any Improvement which may be damaged or destroyed; shall not commit or permit any waste or 6:Aerioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly discharge at Truetor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof, 7, Eminent Domain. Lender 13 hereby assigned all compensation, awards, damages and other payments or relief (hereinafter "Proceeds") in connection with condemnation or ether taking of the Property or part thereof, or for conveyance In lieu of condemna- tion. Lender shall be entitled at its option to commence, appear In and prosecute in Its own name any action or proceedings, and shat" also be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of the Property is so taken or damaged, Lender shall have the option, In Its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all costs and expenses incurred ;)y it in connection with such Proceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to apply all such Proceeds, attar such deductions, to the restoration of the Property upon riuch conditions as Lender may determine. Any application of Proceeds to Indebtedness shalt not extend or postpone the due date of any prayments under the Note, or care any default thereunder or hereunder. Any unapplied funds shall be paid to Trustor. d. Performance by Lender. Upon the occurrence of an Event of Default hereunder, cr if any act Is taken or legal proceeding commenced which materially affects Lender's Interest in the Property, Lender may in its own discretion, but without obligation to do so, and without notice to or dernand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has agroed but fails to do and may rlso do any other p.ct it r:eerrts necessary to protect the security hereof. Trustor shall, Immediately upon deniand therefor by Lendrrr, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by lender of the foregoing rights, together with interest thereon at the default rate provided In the Note, which shall be added to the indebtedness secured hereby. Lender shall not Incur rany liability because of anything it may do or omit to do hereunder. f