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<br />TRUST DEED
<br />
<br />88- 101201
<br />
<br />THIS TRUST DEED, mad6 this
<br />be and between:
<br />(A) Robert E. Flanders and Sally J. Flanders, Husband and Wife
<br />
<br />11th
<br />
<br />day of
<br />
<br />Marr:h
<br />
<br />,19
<br />
<br />88
<br />
<br />r
<br />
<br />2015 \oJ,
<br />
<br />1st
<br />
<br />, whether one or more, herein-
<br />Grund Island. NE 68801
<br />
<br />and
<br />
<br />after called "Trustor" whose mailing address Is
<br />
<br />(8)
<br />
<br />Howard E. Tracy
<br />
<br />(C)
<br />
<br />addressls 706 W. Koenig
<br />Northwest National Bank
<br />
<br />Grand Island, NE
<br />
<br />68801
<br />
<br />as "Trustee" whose mailing
<br />and
<br />
<br />2008 N. Webb Road, P.O. Box 2095
<br />
<br />as "Beneficiary" whose mailing address Is
<br />Grand Island. NE 68802
<br />
<br />WITNESSETH: That Trustor, in consideration of One Dollar ($1.00) and other valuable consideration receipt
<br />whereof Is hereby acknowledged, grants, conveys, sells and warrants to Trustee, in trust, with power of sale, the
<br />following described property, situated In Hall . County, Nebraska:
<br />
<br />Lot Twenty (20), Eagle Lake Estates Subdivision, Hall County, Nebraska
<br />
<br />The Intention being to convey hereby In absolute title in fee simple, including all the rights of homestead and
<br />dower, together with all buildings, fixtures, Improvements and appurtenances thereunto belonging; and all of the
<br />foregoing, together with said property are herein referred to as the "Property."
<br />
<br />FOR THE PURPOSE OF SECURING performance of each agreement and covenant of Trustor herein contained
<br />and the payment of the principal sum of <XV:! tnmdred fifteen troU'3aIld Dollars ($ 115.000.00 ),
<br />as evidenced by a promissory note bearing even date at the rates of Interest thereon which may hereafter be paid
<br />or adve.nced under the terms of this Trust Deed; both principal sum and Interest themon being payable according
<br />to terms set forth In said promissory note;;eference to which is hereby made, at the office of the Beneficiary or at
<br />such other place as the holder may designate In writing, the final payment of principal and Interest, If not sooner
<br />p,ald shall be due and payable on the 1st day of . August ,19 88 .
<br />*An~ also as this note may be extended, renewed or modified in writing
<br />
<br />Trustor and Beneficiary covenant and agree as follows:
<br />
<br />1. WM8IIIJ at TIlle. Tru"OII' I.wfully ..1_ 01 .htI Property; II ha. good rlg~' and
<br />lawful au'horlly.o ...1 and convey .ha Properly; .ha Properly" Ir. and c_ o. all
<br />w.na and encumbrance. exceplllenl now at record; and Trultor will .arrant and
<br />~ IIlII IIlIa '0 lha Property unlo lha Tru.'. .nd il. ,ucC"'Orl and ...algn.
<br />forever. egalnat the claim. of all perllOOl. Truator, at lie expenH. .111 maintain and
<br />pr_ lha lien 01 .Ill. Tru,' Deed a. .1I.n upon .1Ia TrUll Properly .ubJK' only 10
<br />encumbranc.. a.l.llng a. ot .1Ia dl.a ""eol, will causa III I. TrUll Dei<!, and ..ch
<br />_menl '" aupplamanllherl'o, 10 be iliad and recorded al . mortgage 01 .htI
<br />Tru'I Property In Ilidl manner and In .uch plac., and will Ilk. .uch 01.... ac'lon..
<br />In .ha opInlon 01 Tru.l. may be r"'lulrad by .ny prllenl or luIur. law In OIc1ar 10
<br />pertec., maln'aln .nd pro'ecllhtl IlIn 01 Ihl. Trull Deed. a. lhe ..ma may be Irom
<br />II",,! 10 lime ame_ 01 aupplamanlad.
<br />
<br />I
<br />.j
<br />i
<br />
<br />2. 'a.- ct 1'IIoldpal....._L Tru.IOI _hall punclu.lI~ pay .ha principal 01.
<br />and tn'''M' on. uki Plomtaofy noie Including any Ad'l,u\ce. thar.to al pro'llded
<br />""aln on lha <lal.. and a'lhe placa and In .lIa manner provided 1.....ln and will
<br />punc'ually pertorm alll(l_n'" condlllon. and plovl.lon. 01 any olher laCurlly
<br />lnalruman' given In connecllon wllh Ihl,'ranaacllon.
<br />
<br />3. "".."._.... lIalft_..... at ~. Trullor will nol commll .ny 10..1.
<br />upon lha Property and will, II all II....., malnl.ln ItIe ..ma In good Old.. and
<br />condlllOn and will mall., Irom lima 10 lima, .11 ..p.lrI. renew.I.. rlpllc.m.nl.,
<br />_Ilona and ~.. which ... r..lOnably r"'lulrad 10 pra..n. wall',
<br />Impalrmen', .. detarlora'lon 01 ..Id property. No building or Improv.manl now Of
<br />har_lI. _tad upon lha Pr_ly .hall be allarad, r_ad 01 _Iehad
<br />",ltIloulllle prior WIllian c_1 01 Beneflcl..y.
<br />
<br />4. ..... Ie "'-".In ca.a 01 any c1.meg. 10. or da,'rucllon 01, .ha building..
<br />Improvement. Of petaonal properll con,tltutlng pari o' lhe Truat Property, whelher
<br />IUCft Ioal II covered by Inlur.nee or olher.,IH, Trultor, al III ac.. COlt and
<br />a.penN, will promplly ..0'010, repair, replaca and rebuild IIie ..ma a. nurly ..
<br />prllCl_'o II. condlllon Immadla'.ly prlol'o ouch damage OI_lrucllon 01 wllh
<br />ouch cha_ and allllla.1OnI .. Trua'OI may _ _aprla'a p"w_ auch
<br />cha_ and all.a.1OnI dO not mal.I.,1y _ .ha v.l.. and ullllly ot ouch
<br />lluIldlnga, Impr_l. and ...._lIly lrom .ha. .,I.llng Imrnadlalaly prlar '0
<br />IUC~ __ 01 _.ruc'lon. Tr....OI _II be anllllad 10 r&lrnbu.......... 'rom .ha
<br />T_ 10 lha a,_ ot lha ne'III.urone. pr-. recalvad by Tru.'., bu. only 10
<br />llle ......1 ot lha ....I&>aI...... ..pended undw.hl. provl.lon.
<br />
<br />,...pactlve parllel. AUlnlurance pollelal maintained pur.u.nl 10 thl. Trust o..d
<br />shall name Trult.. and Beneficiary .. Inlured., IS lhalr reapactlve Inler."1 may
<br />appear, and pro'llde thai there lhall be no cancellatlon or modlflcallon wllhout
<br />flttHn day. prior wrllten nollUeallon to TruI'" and Beneflcllry. In the .'Ient .ny
<br />polley hereunder II nol rlnewed on or before flft..n days prior to lIa e.plrlUon
<br />dl.l, Tru.t.. or Beneflcllry may procur. .uch Insurance and the cost thereof ,hall
<br />be _ '0 .htI loan laC"rad by Ihl. Trua. Deed and .h.1I bear In.er.'1 al .he
<br />grll'" 01 lha Inlar..1 ra', .paclllad Ihtlraln or lha hlghe..ln,er..' rat. au.hOflzad
<br />by lha law. 01 .ha S'al. 01 N.bra.ka. TrullOl .h.1I dallver.o Ben.llclary tha original
<br />pollel.. of Insurlnce and rane.I" It,eraol or memo copl.. of luch.,pollcl'l and
<br />ranewa"thereof. Failure to lurnl'h In.ur.nc. by Trultor. or r.nswall .1 required
<br />hallunder .h.II, al the opllon o. B.n.llcl.ry, conalllu', a d.laull. All unearned
<br />premiums are hereby a..lgned to Tru'I" a. addlllonal MCurlty- and I ,ate and
<br />~n'leYlnce of 'he Properly- by the Tru.... .hlll operale.o convey to lhe pUrChlMl
<br />the TruSlor'slntar.st in and to'11I pollcle. of InauranCI upon the Trusl Property.
<br />
<br />7. T.... INI AI........t.. Tru.lor shall ply 11I11..es Ind special Isua,menl.
<br />'e'lled or aSHaaed aglln.' or dUI upon lhe Property belor. delinquency, and wI!!
<br />deliver 10 BeneUclary ec.ple' of recelptl 'howlng payment of Buch ta..s and
<br />Bpti:llllnl..menls. If Benlflcllry .hallDo request. TrUBlor agrNslhat thara shIll
<br />be added to each periOdic payment required to be mlde hereunder an Imount
<br />eallm.l.d by TrUIIN 10 be ."flIcl.n. 10 .n.bl. Tru.lor 10 P'Y. .1 l.a'l 30 day.
<br />betore d.lInquency, In tl.es, Isnllmenll or olher public charges Igllnsl 1M
<br />Tru.1 Property. the Note secured by !hl& Trust Deed, or upon account ollhe det:)t or
<br />Ihe lien o' this Trusl ne.d. logether wllh premiums lor Insurance requlr~ 10 be
<br />pro'llded unCler Ihls Trust Deed and no Intef8s1 shill be plyable 10 TrUllor In
<br />respect thereol Upon demllnd by Trustee, Trustor shall _Uver 10 Trustee such
<br />additional suml of money ill are neceaslry to make up any dellclency In 1M
<br />amount. nee....ry to enlble Tluslee 10 pay ..ny 01 the loregolng lIeml.
<br />
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<br />
<br />8. AddItIonal Llefil. Trultor .hall make ell plymentl o. Inleresl end principal and
<br />payment. of any other chargee. leel, and eXPln... contracled 10 be paid tOilny
<br />Ixl.tlng lien holder. or prlo. beneflclarl.. under any prior Tru.t 0etH:I. Mortgage or
<br />other HCurlty &G-rMmenl. ~fora lhe dale they are delinquent and 10 pay any othar
<br />claim whlch IaoPardlzl.IM MCurlty granled her.ln.
<br />
<br />L
<br />
<br />~ c:oo,waoe T_. II Tr~IOII. a COlporlllon, II will do .1I.hlng. nee....ry 10
<br />pr-..II. _pelfala ..11'_, right. and prlvlllgH under lha law. ot lha ...1. ot
<br />IIIlncorpelflllloll.
<br />
<br />g. F_1Ion at _tiel."" _oily. Should Tru.lor 1.11 10 m.ke .ny paymanl.
<br />'aU to do any act .. herein provlcMd, or If any action 01 procMdlng I. commenced
<br />which matarlally afleet. 8ero.llclary'. Intor..1 11'1 the Property, Including, but nol
<br />IImlled to, amlnent domain. InlOtvency. arrangement I Of proceedlngl Involving a
<br />benkrupl or dacedanl, Ihln Ben.llcl.ry 01 TrualM but wllhoul obllg.llon '0 do ....
<br />and wllhoul nolic.'o or dem.nd upon TrulSOI, 'nd wllhou' r."".jng Tru.'CH 'rom
<br />Iny obllglllon hareunder, may mak~ or do 'hi lime, Ind mly ply, purchlM,
<br />con.aa. 01 compl'omlll any encumbrlnce, chI/go or lien, which In lha ludgamsnl o.
<br />alltlel .ppear. 10 .f1.ct uld Propelly; In ....cl.lng any lu<h pOwell IhI
<br />Beneficiary Of Tru.t" mav tncu. any liability and ..pend wh,-t.ver amount.,
<br />Including dl.burl.ment, 0' rea.onable .nornay', ...., _hlch In their abaoIull
<br />dlacrlUon. rr~v be nee....ry. lIT the ~.nl Ih.1 frultOt' thaill lall 10 procur.
<br />IftlUrance or 10 pav I...., "Id lpeel.1 ......ment. or to m.ke .ny PI)'metlll to
<br />axltUng Of pr~ IHtn hokMf, or bOnellci.'.... lhe &eM'kl.ty mil)' procure ....'ch
<br />I~.urance .nd malle ,uc.h pevmen1t All .om, Incurred or I..pend.-d by e.,...Uc:lary
<br />or Tru.l.. I", accOldam;. W'lIh ,,... provlalon, ollhlt Trult o...d IIr. ,.cured hereby
<br />
<br />(
<br />
<br />e. -...-. Tru.'OI, .1 II. ..pen.., 101/1 m.ln','n wllh InlUlOII apjl'ovad by
<br />1eneIIcIaIy, I_anca with reapac' 10 .ha Improvemenl. .nd ....lOIII1 properly,
<br />c_IM"" lha Property agaln.1 lOll b~ '''', IIghlnlng, IOfnado. .nd o.har parlll
<br />COfefId by .tandald e.t.nded COVtlage endor..,.....nl. In .n amount aqual to al
<br />_ one _ ....cenl 01 lha 'ull rOl>I_"1 v.lu. lha'IO', aIId In.uranca
<br />........ euoft ou.r huaroe ar.d In .uch amounl.. II cuatornarlly carried by ~ne,.
<br />_ _II"" 01 _ propell"" end .. _lIclery m.y IIqulra 101 II.
<br />",_lion> TrUl'Ot will oomply wllh .uch Dlhar 1IClU"_la a. Banellcl.ry mar
<br />"- ...... 10 UMa rectUM' 'Of lhe p'04:ecUon by 'ftlur~ of U'~ Inl..-.., of 1M
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