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<br />20020264E
<br />CORRECTIVE DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 30th day of July, 1992, by a::� among JAMES R. PERKINS and
<br />JANICE K. PERM' NS, husband and .vife, hereinafter referred to as Trustors, ,:whether one or more, whose
<br />mailing .address is Route 1 Box 27, Cairo, Nebraska 68824; THE STATE. BANK::OF CAIRO, a Nebraska
<br />Banking Corporation, hereinafter referred to as "Trustee." whose mailing.address is Box 423, Cairo,
<br />Nebraskz 58824; and TIDE STATE BANK OF CAIRO, a Nebraska' Banking Corporation, hereinafter
<br />referred was "Beneficiary," whos: mailing address is Box 428, Cairo, Nebraska 68824:
<br />For valuable consideration, Trustors irrevocably grant, txansfer, convey and_assign to Trustee, intrust,
<br />with po•"Ter of sale. for the benefit and security of Beneficiary, under and subject to the terms and conditions of
<br />this Dced of Tnist, the follo%ving' 66cribed real property located in HALL County, Nebraska:
<br />Lot Onc, Perkins .Acres Subdivision, Hall County, Nebraska, according to the part thereof
<br />rccoreded on August 3, 1037, as Document No. S7- 104598 in the,Offite o'f the Register of
<br />Deeds, Hall County, Nebraska,
<br />top-ether with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />and appurtenances located thereon, and all personal property that may be or hereafter become an integral part of
<br />such buildings and impro- ements, all crops raised thereon, and all - •eater .rights; Al of which, includ rg
<br />replacements and additions thereto, are hereby declared to be a part;cf the real estate conveyed in trust hereby, it
<br />being agreed that all of the foregoing shall be Hereinafter referred to as the "Property."
<br />FOR THE PURPOSE `OF St CURING:
<br />tt- Pavrnent of indebtedness evidenced b, Trustors' note of even date herewith in the principal sum of
<br />S40,000.00, together with interest at the rate or rates provided therein, and any and all enewals, modiftcutions
<br />and extensions of such note. both principal and interest on the note being payable in accordance with the terms
<br />s `0 ^1 t rein_ *, �+ 1 s e :e.e:t: e is l :ereby made a pa:-t hr- and 4py and all future advances and
<br />at _ atc's� ati- : t. r -
<br />'Padt "arses to 1..ts.O :a i?erct+nder pu,�.rz11 to One Ore more promIsSorY notes oi.credli agreements (herein called
<br />"Note"); s
<br />b, the payment of other sums advanced by Beneficiary to protect the sccujAy of the Note;
<br />c. the performance of all covenants and agreements of Trustor set forth kdrein; and
<br />d. all present and future indebtedness and obligations of Trustors to Beneficiary whether direct, indirect,
<br />absolute or contingent and whether arising by note, guaranty, overdraft or otherwise;
<br />.:t
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTORS IIEREBY- CON, ENANT AND AGREE:
<br />L To pay when due, the principal of, and the interest out, the indebtedness evidenced by the ndic, charges, fees and all other sunns
<br />as provided in the loan instruments- R
<br />2. Trustors are the owners of the property and have the right and authority to execute this Deed of Trust in respect to the property.
<br />3, . To pay, when due, all taxes, special assessments and all other charges against the property; tefore the same become delinquent.
<br />Trustors shall pay all taxes and assessments which may be levied upon Beneficiary's interest hererh or upon this Deed of Trust or the
<br />debt secured hereby. without regard to any law that may be enacted imposing payment of the.,vholc or any part thereof upon the
<br />Beneficiary, •
<br />4. To weep the improvemcnts.itow nr hereaf1cr located on the property insured against damage by fire and such other hazards as
<br />the Benefi--iary may require, inamounts and companies acceptable to the Beneficiary, Such insurance policy shall contain a stanJard
<br />martsa ge clause in favor of Beneficiary. Trustor stall promptly repair, maintain and replace the property or any part thereof, so that.
<br />except for ordinary tivcar and tear, the property shall not deteriorate.
<br />S. In the event the property, or any part thereof. shall be taken by cmirentdomain, th^ Denc�ciary is entitled to collect and receive
<br />all compensation which may be paid for any property taken or for damages to property not taken, and the Beneficiary shall apply such
<br />compensation, at its option; either to a reduction of the indebtedness secured hereby, or to repair and restore the property so taken.
<br />G. The Beneficiary may, but shall have no obligation to, do any act which Tntstors have agreed but failed to do, and the
<br />Beneficiary may also do any act it deems necessary to protect the lien hereof. Tntstors agree to repay, upon demand, any suns so
<br />expended by the Beneficiary for the above purposes, and any stun so expended shall be added to the indebtedness secured hereby and
<br />become secured by the lien hereof. The Beneficiary shall no incur any liability because of anything it may do or omit to do hereunder.
<br />7. The Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents. issues
<br />and profits of the property and of any personal property located thereon with or %,mhout taking possession of the property atrected
<br />hereby, an_i Trtrstors hereby absolutely and unconditionally assign all such rents, 'issues and profits to the beneficiary_ The beneficiary,
<br />however, hereby consents to Trustors' collection and retention of such rents, issues and profits, so long as Trustors are not, at such
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