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88- 100863 I NEBRASKA DEED OF TRUST (With Power of Sale) Amount of First Instalment $ 292.00 Total of Payments $ 14,016 . 00 Number of Monthly Instalments 48 Amount of Other Instalments $.292.~ First Instalment Due Date March ?4 ,1988.. Final Instalment Due Date Februar)' 24 19~ THIS DEED OF TRUST, made this ~ day of between Gary G. Morgan and Debra J. Morqan, Husband and whose mailing address is 2915 W. 17th Grand Island, NE 68803 as Trustors, John Cunn i ngham whose mailing address is 222 N. Cedar Grand Island, NE as Trustee, and Norwest Financial Nebraska. Inc] whose mailing address is P.O. Box 1373 Granu Island, NE 68802 February 19--8.8.., Wife 68801 2337 N. Webb Rd. WITNESSETH, Trustors hereby irrevocably, grant, bargain, sell. scribed property in Ha 11 , as Beneficiary, and com'ey to Trustee m trust. with p~wer of sale, the following de- County, Nebraska: Lot 2 in Block 4 in Westerhoff's Second Subdivision, being a re-subdivision of the South ~ of Block 3 and 4 and the North ~ of Block 5 and 6,Westerhoff's 1st Subdivision, City of Grand Island, Hall County, Nebraska. Together with tenements, hereditaments, and appurtenances thereunto belonging or in an!-wise appertaining and the rents, issues and profits thereof. This conveyance is intended for the purpose of securing the payment to Beneficiary of TrustorE' promissory note of even date in the amount stated above as ''Total of Payments" Said "Total of Payments" is repayable in the number of monthly instalments stated above. The amount of the instalment payments due on said loan is stated above, The first and final instalment due dates on said loan are stated above. Payment may be made in advance in any amount at any time. Default in making any payment shall. at the Beneficiary's option and without notice or demand, render the entire unpaid balance of said loan at once due and payable, less any required rebate of charges. To protect the security of this Deed of Trust, Trustor covenants and agrees: L To keep the property in goo!! condition and repair; to pennil no waste thereof; to complete any building. structure or improvement being built or about to be built thereon; to restore promptly any building, structure or improvemenl thereon which may be damaged or destroyed; and to comply WIth all laws, ordinances, regulations, covenants, conditions and restrictions affecting the property. 2. To pay before delinquent all lawful taxes and assessments upon the property; to keep the property free and clear of all other charges, liens or encumbrances impairing the security of this Deed of Trust. 3. To keep all buildings now or hereafter erected on the property described herem continuously msured against loss by fire or other hazards in an amount not less than the total debt secured by this Deed of Trust All policies shall be held by the BenefiCiary. and be in such companies as the BenefiCiary may appro"e and have loss payable first lo the Beneficiarv as its interest may appear and then to the Trustor. The amount collected under any insurance policy may be applied upon any indehledness hereby secured in such order as the Beneficiary shall determine Such application by the Beneficiary shall not cause discontinuance of any proceedings to foreclose this Deed of Trust or cure or waive any default or notice of default or invalidate any act done pursuant to such notice. In the event of forecloc;ure. all rights of the Trustor in insurance policies then in force shall pass to the purchaser at the foreclosure Sail' 4. To obtain the written consent of Beneficiary before selling, conveying or otherwise transferring the property or any part thereof and any such sale, conveyance or transfer without the Beneficiary's written consent shall constitute a default under the termf hereof 5. To defend any action or proceeding purporting to airect the secunty hereof or the rights or powers of BenefiCIary or Trustee 6. Should TnIStor fail to pay when due any taxes. assessments. Insurance premiums. liens. encumbrances or other chargel" against the property hereinabove described. BenefIciary may pay the same. and the amount so paid, with mterest at the rate set forth in lhe note secured hereby, shall be added to and become a part of the debt secured in this Deed of Trust as permitted by law IT IS MUTUALLY AGREED THr\T 1. [n the event any portion of the property is taken or damaged in an eminent domam proceeding, the enlire amount of the award or such portion thereof as may be necessary to fully satisfy the obligation secured hereby. shall be paid to Beneficiary to be applied to said obligation. 2. By accepting payment of any sum secured hereby after Its due date, BenefiCIary does not waIve its ri!(ht 10 require prompt payment when due of all other sums so secured or to declare default for faIlure to so pay 3. The Trustee shall reconvey all or any part of the property covered by thlE Deed of Trust to the person entItled thereto. on wrlllen request of the Trustor and the Beneficiary, or upon satisfaction of the obligatIOn secured and wrillen request for reconveyance made by the Beneficiary or the person entilled thereto. 991 G84 (NE) L L ~ ,.--- ~ .t~......~..1 ~~ ,.,