|
<br />DEED OF TRUST
<br />
<br />88- 100848
<br />
<br />This Deed of Trust is made this l6th day of February ,19..8fL, by and among
<br />DREISBACH'S STEAK HOUSE, INC.
<br />hereinafter referred to as Trustor, whose mailing address is l135 So. LOCllst. GrRnrl TslRnd
<br />NE 68801 ; AREND R. BAACK, Attorney at Law, hereinafter referred to as "Trustee,"
<br />whose mailing address is p, O. Box 790, Grand Island, Nebraska 68802; and HOME FEQERAL
<br />SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Beneficiary,11
<br />whose mailing address is 221 South Locust Street, P. O. Box 1009, Grand Island, Nebraska
<br />68802.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and
<br />assigns to Trustee, in trust, with power of sale, fur the benefit and security of Bene-
<br />ficiary, under and subject to the terms and conditions of this Deed of Trust, the fol-
<br />lowing described property, located in HALL County, Nebraska, to-wit:
<br />
<br />ALL THAT PART OF LOT THIRTEEN (13), LYING WEST OF THE WESTERLY LINE OF PINE STREET OF
<br />VANTINE'S SUBDIVISION, AN ADDITION TO THE CITY OF GRAND ISLAND, HALL ~OUNTY, NEBRASKA,
<br />EXCEPT TRACT CONDEMNED BY THE CITY OF GRANO ISLAND, HALL COUNTY, NEBRASKA AND EXCEPT
<br />TRACT DEEDED TO THE CITY OF GRAND ISLAND, NEBRASKA BY WARRANTY DEED RECORDED AS
<br />DOCUMENT NO. B2-o01403.
<br />
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways,
<br />easements, rights, privilegE3 and appurtenances located thereon or in any way pertaining
<br />thereto, and the rents, issues, profits, reversions and the remainders thereof, includ-
<br />ing all such personal property that is attached to the improvements so as to constitute
<br />a fixture, all of which, including replacements and additions thereto, are hereby de-
<br />clared to be a part of the real estate conveyed in trust hereby, it being agreed that
<br />all of the foregoing shall be hereinafter referred to as the 'IProperty."
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(a) the payment of indebtedness evidenced by Trustor's note of even date herewith
<br />in the principal sum of ONE HUNDRED SIXTY ONE THOUSAND AND No/Ioo----------------
<br />($ 161,000.00 ), together wi th the balance of such indebtedness, if not sooner
<br />pa"id, due and payable on March l, 2003 _; with interest at the rate or rates
<br />provided therein, along with the payment of all other sums, with interest thereon,
<br />advanced ir accordance herewi th to protect the secur i t Y of this Deed of Trust,
<br />together with the principal and interest on any future advance as evidenced by
<br />promissory notes stating they are secured hereby, and any and all renewals, modifi-
<br />cations and extensions of such notes, both principal and interest on the notes
<br />being payable in accordance with the terms set forth therein, which by this refer-
<br />ence is hereby made a part hereof. The holder hereof shall have the option to
<br />accelerate the maturity of the note for which this mortgage is given as security,
<br />at any time after the NA loan year after first giving the undersigned or
<br />the then owner of the premises described herein a written notice three months
<br />in advance of its intent to do so. At no time shall the principal amount of the
<br />indebtedness secured by this Deed of Trust, not including sums advanced in accord-
<br />ance herewith to protect ttE secur it y of the Deed of T rus t , exceed the or iginal
<br />amount of the note plus $ 0.00
<br />
<br />(b) the performance of each agreement and covenant of Trustor herein contained;
<br />and
<br />
<br />(c) the payment of any sum or sums of money which may be hereafter paid or advanced
<br />by Beneficiary under the terms of this Deed of Trust, together with interest thereon
<br />at the rate provided in the note.
<br />
<br />q
<br />
<br />'To protect the security of this Deed of Trust, Trustor hereoy covenants and agrees
<br />as follows:
<br />
<br />-1 -
<br />
<br />
<br />
<br />r-
<br />\
<br />I
<br />i
<br />I
<br />
<br />
<br />!/
<br />~..
<br />
<br />;." ~
<br />
|