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I DRED OF TRUST CONT5:d 88_101866 f I l , t ! ! ThiB Deed of Trust is made this 11th day of April , 1988 ,by and among DoUglas D. Hahn- and Linda Rohb Hnhn, HI'ihlnci Rnci Wi fe , hereinafter re ferred to BB "TruBtor, 11 whoBt! mailing addreBB iB 7 7 West Anna. Grand Island, NE; Arend R. BH~k . Attorney at Law, hereinafter referred to aB "TruBtee," whose mailing address is P. . Box 790, Grand Iftland, NE 6RR02 ; snd TIlE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as "Beneficiary," whose mailing address is P.O. Box 1688. Grand Island, NebraBka 68802.. . , For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to Trustee, in trust, with power of sale, for the benefit mId security of Beneficiary, under and subilct to the terms and . . . conditions of thilLDeed of Tr\lst, the followin~-de.!l_l1..ribed lIrcn~ert~.p loc:;ated in~__~_ ~~ r'y' . . Jlebra~ka.. to-Jolit. part Qf 1;ne Southeast ~er 01 1;1).e l'lOl'"tnwest !J~r '. NW) at Sect10n 'l\venty-une ~t), 1n 'rOwnshJ.p Eleven (11) North RangeNme (9), West of the h 6th) P.M., de- . scribed as allows: Beiinnmg ata petilt on the South line of Anna Rtreet in the ity of Grand ... Island, Nebraska, 203.1 Feet Easterly from the intersection of said South line of Anna street and the East property line of the county road which is located on the approximate North and South center Line,. of the South Half of the Northwest Quarter (S!NW!) of said Section 'l\venty-One (21); running thence Easterly along the South line of Alma ~treet 90.4 Feet; thence Southerl~ at riiht angles to Anna Street 132 Feet- Lhence WelSLerly vara1 el to Lhe &JuLh line of Anna Str et 90. Feet; thence Nortrer- together ~th all buildings, improvements, fixtures, streets. alleys, passageways, easements, rights, prlvi- ly 132' legea and appurtenances located thereon or in any way pertaining thereto. and the rents, issues. profits, to the . reversions &Id the remainders thereof, including all such personal property that is attached to the improve- place of menta so as to constitute a fixture, all of which, including replacements and additions thereto, are hereby . . declared to be a part of the real estate conveyed in trust hereby. it being agreed that all of the fore- beg1nn1ng... going shall be hereinafter referred to as the "Property." FOR THE PURPOSE OF SECURING: (a) the payment of indebtedness evidenced by Trustor's note of even date herewith in th.. principal sum of Fifteen Thousand Dollars--------(S 15,000.00 ), together with interest at th.. rate or rates prOVided therein, or the principal and interest .on any future advance not to exceed the total principal sum initially secured hereby as evidenced by promissory notes stating they are secured hereby, and any and all renewals, modifications and extensions of such notes, both principal and interest on the notes being payable in accordance with.th.. terms set forth therein, which by this reference is hereby made a part hereof; (b) the performance of each agreement and covenant of Trustor herein contained; and (c) the payment of any sum or sums of money whIch may be hereafter paid or advanced by Beneficiary under the terms of this Deed of Trust, together with interest thereon at the rate provided in the note. To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows: 1. Payment of Indebtedness. To pay when due, the principal of, and the interest ont the indebted- ness evidenced by the note, charges, fees and all other sums as provided in the loan instruments. 2.. Title. Trustor is the owner of the property and hss the right and authority to execute this Deed of Trust in respect to the property. 3. Taxes and Assessments. To pay, Vben due, all taxes, special assessments and all other charges againBt the property. before the same become delinquent, and, in the event Beneficiary shall so require, to add to the payments required under the note secured hereby, such amount as may be sufficient to en- able Be~eficiary to pay such taxes, assessments or other charges as they become due. 4. Insurance. To keep the improvements now or hereafter located on the real estate described herein insured against damage by fire and such other hazards as Beneficiary may require. in amounts and companies acceptable to Beneficiary, and with 10BB .payable to Beneficiary. In caBe of loss under such pOlicies. Beneficiary is authorized to adjust, collect and compromiBe, in its discretion, Bll claims thereunder and, at its sole option. is authorized to either apply the proceeds to the restoration of the property or upon the indebtedness secured hereby, lJUt payments required by the note shall continue until the SU1118 secured hereby are paid in full. 5. Repair. Maintenance and Use. To promptly repair, restore or rebuild any buildings or improve- mentsnow or hereafter on the prope~ty; to keep the property in good condition and repair, without waste and free from mechanics or other liens not eXpressly subordinated to the lien hereof; to not make, suffer or pe~it any nuisance to exist nor to diminish or impair the value of the property by any act or omission to act; and to comply with all r~qulrements of law with respect to the property. 6. Condemnation. In the event the property, or any part thereof, shall be taken by eminent domain, Beneficiary is entitled to collect and receive all compensation Vbich may be paid for any property taken or for damages to property not taken. and Beneficiary shall apply such compensation. at its option, either to a reduction of the indebtedness secured hereby or to repair and restore the property so taken. 7. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which Trustor has agreed but failed to do, and Beneficiary may also do any act it deemB necessary to protect the lien hereof. Trustor agrees to repay. 'upon demand, any sums so expended by Beneficiary for the above purposes, and any sum so expended by Beneficiary shall be added to the indebtedness secured here- by and become secured by the lien hereof. Beneficiary shall not incur any personal liability because of anything it may do or olllit to do hereunder. 8. Assignments of Rents. Beneficiary shall have the right, power and authority during the con- tinuance of this Deed of Trust to collect the rents, issues and profits of the property and of any per- sonal property located thereon with or without taking possession of the property affected hereby, and . Trustor hereby absolutely and unconditionally aSBigns all such rents. issues and profits to Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and retention of Buch rents, issues and profita aa they accrue and become payable, so long as TruBtor is nott at such time, in default with re- spectto pa,..nt of any indebtednesB secured hereby, or in the performance of any agreement hereunder. If any event of default described hereafter in respect to this Deed of Trust shall have occurred and be continuinR, Beneficiary, &s a matter of right and without notice to Trustor or anyone claiming under Trustor, and without regard to the value of the trust estate or the interest of the Trustor therein, shall have the right to apply to any court having jurisdiction to appoint a receiver of the property. 9. Ipspections. Beneficiary. or its agents, representatives or workmen, are Buthorized to enter t any reaBonable time upon or in any part of the property for the purpose of inspecting the same and o~ the purpose of performing any of the acts it is authorized to perform under the terms of any loan nstruments executed by Trustor. ,10. Transfer: of Property, 'J.( all or any pllrt of tile property or any Interest of Trustor therein h , ~ r i I ; I. , I. r [ i r I. r i I f , I ~. ! f l l lnt !. f -]-