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<br /> This D�ED OF TRUST is made this 14th day of Deccmber, 1994, by and among QENNIS R. ,: �
<br /> �
<br /> • BONSAC.K and SflARON K. BONSACK, husband and w+ife, hereinafter referred to as "Trustors," _�'
<br /> whether one or more, whose mailing address is Post Of'fice Box 554, Wood River, Nebrnskn 68883; THC _
<br /> STATE BA1WK OF CAIRO, a leTebr�akn Baaking Corporation,hereinnfter referred to as•'']C"rustee," whose �I �*-_=
<br /> mailing address is �ox 42�, Cairo, NebrASkn 68824; and THE S'Y'ATE BANK OF CAIRO, a NebrasQui ! . . =.�.f:.
<br /> Banking Corporation, hereinafter referred to as "BeneficiAry," whase mailing address is Box 428, Cairo, �
<br /> , Nebrn�tca 68824. • � .`.`::
<br /> For valuable consideration, Trustors irrevocably grant, transfer, canvey and assign to Trustee, in trust, ' �
<br /> with power af sale, for the benefit and security of'Beneficiary, under and subject to the terms and conditions of �� =
<br /> this Deed af Trust, the following described real property located in HAI.L County, Nebraska: ,. �`
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<br /> A tract of land comprising a part of the North Half oi tl�e Northeast Quaner(N 1/2 NE 1/A)of Section Thirty'Two "'�"�";'•�;'?:•-� �
<br /> r�� •MM p�f/� •'•iq�_.;.!',:7R:,II.'
<br /> (32), Township Ten(10)North,Range Elcven(I1)West of the6th P.M..Hall County,Nebraska� SW�4RY\{1�ilN� •� 't°�,^���•'M����i
<br /> �.•.tl.____ -.
<br /> more particularly described as follows: BEGINMNG at the Northeast corner of said North Half of the Northeast :;��;��-�
<br /> Quarter(NE 1/2 NE 1/4); thence runn�ng on an assumed bearing of S 00°00'Od"E on Qie East litie of said North , _',___`�:-_
<br /> Half of the Northeast Quarter(N 1/2 NE 1/4)for a distancc of One T�ousand Three Hundred Eightcen and Ei�ht '�_,�N�';"�
<br /> Hundredths(1,318.08)fcet to thc Southeast corner of said North Half of the Northeast Quartcr(NE 1/2 NE 1/4): �::.,��__
<br /> thencc S 89°09'S6" W on the South line of said Norih Half of the Northcast Quartcr (NE 112 NE 1/4)for One _''`'`°°`"" _
<br /> Thousand Six Hundred Sixty Six and Thirty Eight Hundredths(1,666.38)fcer, thence N 65°41'36" E for One �5��,:�-- -
<br /> Thuusand Four Hundred Ninety Tluce and Fifty Five Hundredths fect; thence N 21°54'00" E for On::.I;::.dred �:': ��---°-
<br /> Eighty Seven and �ixty Scven Hundretlths feet; thcncc N 00°00'29"E for Five Hundred Forty Nine and Eighty r'_
<br /> Eight Hundredths fect to a point on the Norih line uf said North Half of the Northeast Quarter(NE 1/2 NE 1/4);
<br /> ��> --
<br /> thencc N 89°OS'03" E on the North linc of said North Half of thc Northcast Quarter(NE !/2 NE 1/4)for 'Itvo �::._:" ��
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<br /> Hundred Thirty Five Feet (235.00)feet ro the POINT OF BEGINNMG, Said tract containing 17.502 acres,more �;°-
<br /> �n:�._
<br /> or lcss. �����:,��;,
<br /> together with all buildings,irnprovemeiits, fixtures,streets, alleys, passageways, easements, rights, privileges and •'��`.
<br /> appurtenances located thereon,and all personal property that may be or hereafter become an integral part of such �;,_
<br /> buildings and improvements, all crops raised thereon, and all water rights, all of which, including replacernents ' :'
<br /> and additions thereto,are hereby declared to be a paR of the real estate conveyed in trust hereby,it being agreed �"
<br /> that all of the foregoing shall be hereinafter referred to as the"Property." ` ' , �
<br /> FOR TI-IE PURPOSE OF �ECURING: � �
<br /> ,.�.
<br /> a. Payment of indebtedness evidenced by Trustors' note of aven date herewith in the principal sum of .,
<br /> $70,000.00, to�ether with interest at the rate or rates provided therein, and any and all renewals, modifications �,
<br /> and extensions of such note, both principal and interest on the note being payable in accordance with the terms • �-'� ��-�°"
<br /> r����.:
<br /> . set forth therein,which by this reference is hereby made a part hereof; —
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<br /> b. The performarcce of each agreement and covenant of Trustors herein contained;and •� �s_
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<br /> c. The payment of all sums advanced by Beneficiary under the terms of this Deed of Trust, together with �--- -
<br /> interest thereon at the rate provided in the note. � „ ��`��`^ � �
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<br /> d. The above amount is secured even thou�;h all or part of it may not yet be advance. Future advances under •r,,,: ��
<br /> the agreement are contemplated and will be secured to the same extent as if made on the date this deed of trust is �• ��
<br /> executed. �
<br /> TO PROTECT THE SECiJRITY OF THIS DEED OF TRUST,TRUSTORS HERE[iY COVENANT AND AGREE: I
<br /> 1. To pay�vhen duc. thc principal oL and thc intcrest on,thc indcbtcdness e��dcnced by�thc notc.charges,fecs and all othcr � '
<br /> sums as provided in thc loan instrumcnts. �
<br /> 2. Trustors arc thc o«•ncrs of thc propcit�� and havc ihc ri�;ht and authonty to exccute this Decd of Trusl �n respect to thc
<br /> property.
<br /> 3. To pay, when due. all taxes. special assessments and all other chargcs against the propert}�. 6efore the same become
<br /> delinqucnt. Trustors shall pa}�all ta�es and assessments��•hich ma}•be Ievied upon Benefician�'s mterest here�n or upon this Deed cf
<br /> Trust or the dcbt sccurcd hereby. �vithout rcgard to am•law that rna}• bc cnnctcd imposing pa}�mcnt of thc n•holc or any pan tliercof
<br /> upon thc Bcnefician•.
<br /> � d. To kecp the improvements no�v or hereatter located on ene properrv iasureci agains�damage oy uce:.�uu�uu�vi.�c� �<<i.��us�;� -
<br /> thc Bcncfician•cna}�requirc. in amounts and companics acccptablc to thc Bcncfician•. Such insurancc polic��shall contain a standard
<br /> morigagc clausc in fa�•or of Bcncficiar}•. Trustor shall prompth� re�+air, maintain and replacc thc propert}�or any part thcrcof. so
<br /> that,cxccpt for ordinan���car and tcar, the propcm•shall not dctcrioratc.
<br /> S [n the erent the propem•, or anp part thereof. shall be laken b}•em►nent domain, the Benefician� is entitled to collect and
<br /> rcxen•c all compcnsation�►'hich ma}�bc pa►d for an}�pro�en}•takcn or(or damagcs to propert}•not takcn, and the Bcnefician•shall
<br /> .ipply such compensation.at �ts option. either to a reduction of ihe indebtedness secured hereby.or to repa�r and restore the propem•
<br /> „ so takcn.
<br /> G Thc Bencfician� ma}•. but shall ha�•c no obl�gauon to. do an}�act ���hich Tnistors h,i��c .�grccd but f:tticd to do. and thc
<br /> � Benefician� may also do:+n�•act �t deems necessan•ro protect the lien hercof. Trustors agrcti to repac. upou Juu�ud..iuy sw�i,�o
<br /> � { expended by thc Bcncfic�an'for ihc abo�•c purposes..md a�n��sum so c�pcndcd shall bc added to thc indcbtcdncss sccurcd hcrcb}•and
<br /> I bccumc sccurcd b�� thc Itcn hcrcof Thc Bcncfictan shal! no mcur anc I�ab�ln} bccausc of amih�ng it ma}� do or omit to do
<br /> hcrcundcr
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