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a M M M M 10.5 Jamb North Printing G,., Walton, NE, fimrl DEED OF TRUST 200311729 'I'111S I)Ei.D OI"I'RIJST, is nllufe as of`_ . 18th _ clay of ` AUGUST 2003 by and among _TIMOTHY) ,_�HAGNON, 4-sin, gg'le person TNDWAY: K._MILLEIi.' nuu uug address is 2.315_W. 11TH ST., GRAND ISLAND, CIE. ;; -GnY BYRNE- ATTORNEY -AT -LAW ['ruslec "), whose mailing address is--r—tn anVANTA T_TTT,) _, 5__ 22 W, K�ENIG, GRAND ISLAND, N nnd__. _RIIDQLE_F,.J whose mailing address "Beneficiary ") FOR VALUABLE CONS] DERA'TION,Trustor irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Heneficiar�y under and subject to the terms and conditions of this Deed of Trust, the real property located in the City of GRAND ISLAND County of ITALL , State: of Nebraska, and legally described as follows (tile "Pro pert ") ALL OF LOT FOUR (4) AND THE WEST SEVENTEEN (17) FEET OF LOT THPREV (3), BLOCK FOUR (4), in DILL AND HUSTON'S ADDITION TO THE CITY OF GRAND ISLAND HALL COUNTY? NE. TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all water rights. The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust Estate ". FOR TI iE PURPOSE OF SFCtJRTNG: It. Payment of indabl.ness in the total principal amount of's 66, 500. 00 _ with inteeos thereon, as evidenced by that certain promissory note ofeven dale (Ile "Nol.e ") with a maturity dale of AUGUST 31, 201> executed by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby made a part hereof, and any and all modifications, extensions and renewals thereof, and b. Payment of all sums advanced by Beneficial-.Y to protect the 'Trust Estate, with interest thereon at the rate of IX percent ( 6 _ —` %,) per annnm, and c. Tube performance of Trustor's covenants and agreements. This Deed of 'Trust, the Note, and any other instrument given to evidence or farther secure the payment and performance of any obligation seclu•ed hereby are referred to collectively as the "Loan Instruments ". TO PRO'TEC'T'T1IE SECURITY OF TIITS DEED OF TRUST: 1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due t.fie principal of', and the interest on, the indebtedness evidenced by [lie Note, charges, fees and all other suns as provided in the Loan Instruments. `L. TAXES AND ASSESSMEN'TS.'Trustor shall pay all taxes and special assessments of every kind, now or hereafter levied against the trust estate or any part thereof as follows: (initial one) _ Trustor shall directly pay such taxes, without notice or demand as each installment comes due and shall provide I.he beneficiary with evidence of Ube payment of the same. Trustor shall pay to beneficiary one - twelfth of the real estate taxes each month and such other assessments as they become due. The cline- twelfth payment shall he adjusted annually as the taxes change and trustor agrees that after payment of' the taxes each year that any deficiency will he promptly paid to Beneficiary. Beneficiary agrees to provide trustor with receipts showing that the real estate taxes have been paid in frill and when due. 3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance insuring the improvements and buildings constituting part of lhe'rrust Estate fin• an amount no less than the amount of the unpaid principal balance of the Note (co- insurance not exceeding 80 %r, permitted). Such insurance policy shall contain a standard mortgage clause in favor of Beneficiary and shall not be cancellable, terminable or modifiable without ten (10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. in no event shall the Trustor commit waste on or to the Trust Estate. d. ACTIONS AFFE INCA TRUST ES'TA'TE. 'Trustor shall appear in and contest any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in any of the Loan Instruments, Beneficiary and /or Trustee, each in its own discretion, without obligation so to do and without notice to or demand upon Trustor and without releasing 'Trustor from any obligation, may make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof. 'Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without limitation costs of evidence of l.it.le, court costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten (10) days of wriften demand shall draw interest at the default rate provided in the Note. 5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken or damaged by reason of any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condemnation ( "Condemnation "), or shonld Trustor receive any notice or other information regarding such proceeding, Trustor shall give prompt written notice thereof Lo Beneficiary. Beneficiary shall he entitled to all compensation, awards and other payments or relief' therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings. i Beneficiary shall also be entitled to matte any compromise or settlement in connection with such taking or damage. All such j compensation, awards, damages, rights of' action and proceeds awarded to Trustor (tile "Proceeds ") are hereby assigned to j Beneficiary and Trustor agrees to execute such further assignments of the Proceeds as Beneficiary or Trustee may require. (). FIJ'1'I1[?P ADVANCES, Upon re/laiesl of'I'rnslor, Beneficiary, at Beneficiary's option, prior to reconveyanco of l.ho Properly lo'I'rustor huay nhake future advances fo Trusfor.:iucb future adVall"S, with interest thereon, shall be secured by this Decd of I 'trust when evidenced by promissory notes slating that said notes fire secured hereby. 7. APPOINTMENT OF SUCCESSOR'1'RUSTEE. Beneficiary may, from time to time, by a written instrument executed and ' acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Trust Estate is located and by otherwise complying with the provisior- of the applicable law of the State of Nebraska substitute a successor or successors to the Trustee named herein or acting her hder. 8. SUCCESSORS AND ASSIGNS. This Deed of'I'rust applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, divorcee, personal representatives, successors and assigns. The t.ernh "Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary herein. 9. 1NS1'ECTiON. Beneficiary or its agent may make reasonable entries upon and inspections of the Property. Beneficiary shall give'Trustor notice at the time of or prior to an inspection specifying reasonable cause for the inspection.