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<br />100269
<br />
<br />HlIllmall ami Fellon ~ WolI Wallon Ne 68461
<br />
<br />88-
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF THUST, is made as of II\(' ~ day of ~ 19JiJL, by and among
<br />JEFFREY T. BOURKE and KARl 1<. BOURKE, Husband and"1:rif~r"), whose mailing address is
<br />
<br />BANK OF OVERTON ("Trustee"), whose mailing address is
<br />P.O. Box 287, Overton, Nebraska 68863
<br />and BANK OF OVERTON ("Beneficiary") whose mailing address is
<br />
<br />P.O. Box 287, Overton, Nebraska 68863
<br />FOR VALUABLE CONSIDERATION, Trustor ilTevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms
<br />and conditions of this Deed of Trust, the real property located in the City of Grand I s land eountyof
<br />Hall , State of Nebraska, and legally described as follows (the "Property"):
<br />
<br />Lot Three (3), except the Northerly Twenty Three (23) feet
<br />thereof, Block Twelve (l2), elaussen Country View Addition to
<br />the City of Grand Island, Hall County, Nebraska.
<br />
<br />".JQ,Q,
<br />
<br />TOUETHER WITH. all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all
<br />water rights.
<br />
<br />The Propelty and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust Estate".
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a. Payment of indebtness in the totd principal amount of $ 24 , 000 . 00 , with interest
<br />thereon, as evidenced by that certain promissory note of even date (the "Note") with a maturity date of
<br />January 2 1993 . executed by Trustor, which has been delivered and is payable to the order of
<br />Beneficiary, and which by this reference is hereby made a pmt hereof. and any and all modifications, exten-
<br />sicms and renewals thereof. and
<br />b. Payment of all sums advanced hy Beneliciary to protect the Trust Estate, with interest thereon at the rate
<br />of -Twel\le___ percent (_~!;,) per annum.
<br />
<br />This Deed ofTl'usl, till' Note. and any other instrument giveJ1 to evidence or further secure the payment and
<br />perfonnllJ1Ce of any ohlil{atioJ1 secured herehy are referred to collectively as the "Loan Instruments".
<br />TO PHOTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. I'A Yi\IENT OF INDEBTEDNESS, Trustor shall pay when due the pnncipal of. and the interest on, the
<br />indebtedness e\'ideIH,,'d by till' "'ote. charg'es. fN'S and all other sums as pro\'ided in the Loan Instruments.
<br />
<br />2, TAXES, TrustorshallIJa~'each installnll'nt of all taxes and special assessments of every kind, now or hereafter
<br />levied against the Trust ~;statl' or any part thereof. before delinquency. without notice or demand. and shall provide
<br />Beneficiary with evidence of the paymen t of same. Trustor shall pay all taxes and assessments which may be levied
<br />upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law tbat
<br />may be enacted imposing payment of till' whole or any part thereof upon the Beneficiary.
<br />
<br />3. INSURANCE AND HEP AI HS. Trustor shall maintain fire and extended coverage insurance insuring the
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note lco.insurance not exceedinl{ SO'!;, permitted), Such insurance policy shall contain
<br />a standard mortl{age clause in favor of Beneficiary and shall not be cancellable, terminahle or modifiable without ten
<br />(10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and rl'place the Trust Estate or
<br />any part thereof so that. exeept for ordinary wear and tear, the Trust Estate shall not deteriorate. In no eventshall the
<br />Trustor commit waste on or to the Trost Estate,
<br />
<br />4, ACTIONS AFFECTING THUST ESTATE. Trustor shall appear in and contest any action r,r proceeding
<br />purporting to affect the security hereflf or till' rights or powers of Beneficiary or Trustee, and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees. in any such action or proceedinl{ in which Beneficiary
<br />or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in
<br />any of the Loan Instruments, Beneficiary and/or Trustee. each in its own discretion, without obEl{ation so to do and
<br />without notice to or demand upon Trustor and without releasing Trustor from any ohligation, may make or do the
<br />same in such manner and to such extent as either may deem necessary to protect the security hereof. Trustor shall,
<br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection
<br />with the exercise by henefieiary of the forel{oing' ril{hts. includinl{ without limitation costs of e\'idence of title, court
<br />costs, appraisals, su\'\'eys and attol'lH'Y's fces, Any such costs and expenses not paid within ten (10) days of written
<br />demand shall draw interest at the default rate pro\'i<led in the Note.
<br />
<br />5. EMINENT DOMAIN, Should the Trust ,Estate. or any pmi thereof or interest therein, be taken or damaged by
<br />reason of any public impro\'ement or con<lemnation procee<linl{. or in any other manner ine/udinl{ deed in lieu ofCondem.
<br />nation ("Condemnation"). or should Trustor reei\'l' any notice or other information reg'anling such proce"ding, Trustor shall
<br />give prompt written notice thereof to Beneficiary, Beneficiary shall he entitled to all compensation. awards and other pay'
<br />ments or relief therefor, and shall be entitled at its option to commence, appem' in an<l prosecute in its own name any action
<br />or proceedings. Beneficiary shall also he entitled to make any compromise or settlement in connection with such taking or
<br />damage. All such compensation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds") are
<br />hereby assigned to Beneficiary and Trustor al{rees to execute sueh fmiher assignments of the Proceeds as Beneficiary or
<br />Trustee may require.
<br />IiQ yes 0 no 5a FUTURE ADVANCES Upon request of Trustor, Trustee or Beneficiary at Trustee's option, prior to recon'
<br />veyance of the Property to Trustor may make future advances to Trustor. Such future advances, with interest thereon, shall
<br />be secured by this Deed of Trust when evidenced by promissory notes stating that said notes are secured hereby.
<br />
<br />6, APPOINTMENT OF SUCCESSOH TRUSTEE. Beneficiary may, from time to time. by a written instrument
<br />executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the Count\' in which the Trust Esl<.te is
<br />located and hy otherwise complying with the provisions of the applicahle law of the State ofNehraska suhstitute a successor
<br />or successors to the Trustee named herein or acting hereunder,
<br />
<br />7, SLJCCESSOHS AND ASSIGNS, This Del'd of 'I' rust applies to. inures to tl1(' IJPnelit of and hinds all paltips Ill'reto,
<br />IIll'ir Ill'jrs, Irl(ale('I<, dpvicl'l's. personal representatives. sU('el'SSlll'S and assig'n!! '1'11<' 1"l'm "HI'nl'ficial'\'" Sllllllml'lln the
<br />owner IInd holder of Ihr NOh'. whethrr or not named as Hl'nl'fielar,\' lH'n'lIl
<br />
<br />H. INHI'El'TIONS, Beneficiary, 01' its al{l'nls, I'Ppl'l'sentati\'eg 01' worknH'n, an' authol;ll'd 10 elltl<1" alan~' n'lIsonahlp
<br />tillll' IIponllr ill lIny part of tl\l' Trust Estat" for th" purpose of inspeetinK t 1\1' saml' and fflJ' till' pUl'pO!!I< of "'I"forllllllt-: any of
<br />till' ai'll< it is authorlZl'd tl) I>l'rform under the terms of an\, of tIll' Loan [nHtrU!!ll'nts
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