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<br /> � lo.� iG'�582 Hufiman an6 Felton 3 Wotf,Wa1toR Ne.68/61 , ;
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<br />� '� DEED OF TRUST }
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<br /> � THIS DEED OF T�'iIIST,is made atz nf:he_li�'�d�y of Novemhet 19�.._.,by and among �
<br /> ( Michael D. Kenny and Barbaia A. Kenny� husband and wife ('�rustor"),whoae mailing address is i
<br /> Red Cloud, Nebraska 68970 �
<br /> i Guide Rock State Bank, a Neb. banking corporation, � (`�'rus�ee").whose mailiag address is �
<br /> `I PO Br�x 215, Guide Rock, NE 68942 � �
<br /> + and Guide Rock State Sank said bankin �or • �
<br /> � 9 P• � ("Beneficiary�')whose mailing address is
<br /> �� as stated for Trustee, �
<br /> i FOtZ.VALUABLE CONSIDERATION,Trtistor irrevocabiy transfers,conveys and Essigns to Truscee,II1 !
<br /> � 'TRUST,WITH POWER OF SALF.:,far the benefit and security of Beneficiary,under and snbject to the tern�s j
<br /> and conditions of this Deed of'I�ust,the real property Iocated in the G�ity of �+rRnr1 T c 1 a nr1 ,County of, ;
<br /> HaII State of Nebraska,and l�ally described as follows(the"Property"):The westerly (,
<br /> 62 feet og the following described trac.�t: Fractional lot 6 in fractional block 39 in
<br /> Charles Wasmer`s addition, and the southerly one half of �ractional block 12 in Windolph' k �
<br /> addition, both being additions to the City of Grand Island, Nebraska, being a rectangula �
<br /> tract having scuth frontage of 62 feet on Anna St. , snd west frorrtage of 140 feet on Jef.. rson
<br /> 1`�ETHE�i. WITH, all rents, easements, appnrtenances, hereditameats, interests in adjaining roada, TLet.
<br /> streeta and aL'eys,imgrovements and buildings of any ldnd situated thereon and all peraonal prop�;ty that may
<br /> be or h^-eafter become an integral part of such buildings and improvemeats,all crops raised thereon,and all
<br /> water rights. }i;
<br /> The Property t3nd th�entire estate and interest conveyed to the�ustee are referred to collectively as the i
<br /> � "'I�ust Estate". ►�
<br /> FOft THE PURPOSE OF SECURING:
<br /> � �. Payment of indebtness in the total principai amount of$1�_..��fL �� ,with interest
<br /> �i thereon, as evidenced by that certain vromiasory note of even date (the "Note'� with a maturity date of
<br /> 1 ,jl i n a 1 , 1 q q� , execute��y Trust�r, which has been delivered and is payable�.o thP order of �
<br /> i Beneficiary, and which by this reference is hereby macle a pait herer��and any and all modifications,exten- �
<br /> c3ions and rer.ewals thereof, and
<br /> I b.Payment of all sums advanced by Beneficiary to prot�t the 1�ust Eatate,with interQSt therean at the rate `
<br /> of S,i..x t.e.g.A percent(� 6_0 0 �f,)p���, ,
<br /> � This Deed of Trust,t.�:a Note,and any other instrument given to evidence or furthat secu.*e thQ payment and
<br /> 'i performance of any obligation secured hereby are re€erred to collectively as the"Losn Instrumernis". '
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<br /> ; TQ PROTECT THE SErURITY OF THIS DEED OF TRUST:
<br /> ji 1. YAYMENT OF INDEBTEDNESS. Truetor ahall pay when due the pnncig�? of, and the interest on,the �:
<br /> Iindebtedness evidpnced by the Note,chargea,fees and all other sums as provided in the Loan Instrumenta.
<br /> i2. TAXES. TrustAr snall pay each inaialiment of all taues and special aasessments of every kind,now or heresiter 4
<br /> � levied againat the Trust Estate or any part thereof,before delinquenr,y,without notice or demand,and ahall provide �
<br /> iBeneficiary with avidence of the payment of same. Trustor ahall pay all taxes and assessmenta which may be levied !
<br /> i� upon Beneficiary's intere�t herein or upon this Deed of�uat or the deht secured hereby,without t+egatd to any law that !
<br /> � may be enacted imposinq gayment of the whole or any part thereof vpon the Peneficiary. !
<br /> i i 3. INSURANCE AND REPAIRS. 'I�ustar shall maintain fire andeatended coverage inanrance insuringthe I �
<br /> improvements and buildinga conatituting part of the Trust Estate for an amount no leas than the amount of the �
<br /> ;j unpaid principal balance��f the Note(co-ingurance notexceedin'g80%permitted).Sn:.h insurance policy shall rnntain � ±
<br /> i i a etandard mortgage clause in favor of Beneficiary and ahall notbecancellable,terminableormodifiable�;i.2:!+�±5�!.^.
<br /> (IO)days prior written notice to Bene f iciary. Truetor s ha ll pmmp t ly repair,maintain an d rep lace t he T r ust E s'cate or
<br /> Inny part thereof so thflt,except foi�ordinary wear and tear,theTrnst Eetate shall notdeteriorate. In��e�e:::ahall the
<br /> I Trustor commit waste on or to the Truat Eetate. �
<br /> 4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and conteat any action or proceeding ?
<br /> �� purporting to rsffect the aecurity hereof or the rights o*powers of Beneficiary or Trustee,and ahall pay all costa and �
<br /> I� ezpenses,including cost of evidence of title and attorney's fees,in any euch action.or proceeding in whic�i Beneficiary #
<br /> i cr Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in
<br /> �i any of the Loan Instruments,Beneficiary and/or Trustee,each in its own discretion,without obligaEioa so to do and '
<br /> ;; without notice to or demand upon Trustor and withont releasing Trustor from any obligation,may make or do the ;
<br /> 'I same in such ma.-.aer aad to such extent as either may deem necessary to protect the security herr^f. Trnstor shall, ;
<br /> I i immediately upon demand therefor by Beneficiary,pr.y all costs and expensea incnrred by Beneficic.ry in connection '
<br /> with the exercise by beneficiary of the foregoing rigt.ta,including without limitation costs of evidence of title,court i
<br /> ��� costs,appraisals,surveys and attorney'x feea. Any auch costs and expenaea not paid within ten(10)days of writien
<br /> demand ehall draw intereet at the�efault rate provided in the Note. ;
<br /> �� 5. �MIi�IENT DOM�IN. Should the T�ust Estate,or any part thereof or intereet ther�n,be taken or damaged by
<br /> � renson of any pnblic improvement or rnndemnation proceeding,or in any other manaer i�cluding dced in lieu of Condem- �i
<br /> int�tion("Condemnation'�,or shoul3 Truator recive any notice or other information regatding euch proceec�ing,'hvstor shall �;
<br /> , give pmmgt written notice thereoi:o Beneficiary. Beneficiary ghall be entitled to all compeneation,awards and other pay- '
<br /> ment�or relief therefor,and ahail be entit!ed at its option to couimence,appear in and prosecute in ita own name any action '
<br /> , or proceedings. Beneficiary aha��also be entitled to make any compmmise or aekt]ement in oonnection with sach talring or ;�
<br /> damage. All snch compensation,awarda,damages,rights of action and p.roceecLq awarded to 1`rnator(the"Prooeeds'7 are
<br /> � hereby assigned to Beneficiary and'I�vatar agreea to execute euch further assignmente of the Proc�eeds as BeneSciary or �
<br /> �, 'IYu�tee muy r�uire.
<br /> �' 6. APPOINTMENT OF SUCCESSOft'Tb:l1,'�E. Beneficiary may, from time to ame, by a written instrument
<br /> �� executed and acimowledged by Beneficiary,mai:ed to TSrustor and Recorded in d�e Couniy in which the Tmst Estqte ia `�
<br /> � located and by otherwi»e complying with the provisions ef the appficable law of the State of Nebraska subBtiitnte a sucoeseor f:
<br /> I or successors to the'Il�ustee named herein or acting herermder. f.
<br /> � 7. SUCCESSORS AND ASSIGNS. This Deed of T�nst applies to,inures to the benefit of and trinds all parties hereto, �
<br /> their hei.-s, legatees,devioeea,personai representatives,successors and assigne. '�'he tsm"Beneficiary"shall mean the `
<br /> �( owner and holder of the Note,whether or not naa�:as���ficisrt,�herein. �;
<br /> i� 8. INSPECT'IONS. Beneficiary,or its agenta,reprene►�t3tiveo er workmer.,are avthorized to�ter at any reasonable ;'
<br /> ! time apon or in any part of the Trust Estate for the purpa�e of inspecting the same and fot the parpose of performing any of
<br /> ; :he acte it is suthocized to pe�form nnder the terme of any o!'the Loan Inatruments.
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