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<br />88- 10~S41
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<br />DEED OF TRUST
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<br />CONT5:d
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<br />This Deed of Trust is made this 2nd dsy of May , 19 88 , by and among Gene H. Campbell &
<br />Eleanor R. ('.arqphAllLJJUI'1hRn~~~t ' hereinafter referred to aa "Trustor,"
<br />whosemailingaddressis~o__r81.___.Gr~d Island, oNE Ar~nd R.~<1~lr _'
<br />Attorney at L~ herei!l'!.fj:er referred to as "Trustee,' whose mailing address is . O. X 90,
<br />Grand IS.l.anu, NE ~02 ; and Till! OVERLIIND NATIONAL BANK OF GRAND ISLAND, hereinafter raferred to as
<br />"Beneficiary," whose mailing address is P. O. Box 1688, Grand Island, Nebraska 68802.
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<br />Fo~ valuable considerstion, Trustor irrevocably grants, 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 and
<br />conciit1ons of this Deed of Trust, the fOllowing-descr.ibed property, located in Hall County,
<br />Nebraska, to-wit:
<br />
<br />wt Twenty One (21) I Block "D". in Parkview Subdivision to tl1~
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<br />City of Grand Island. Hall Countv, Nebraska.
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<br />together with all buildings, improvements, fixeures, streets, alleys, passageways, easements, rights, pri~-
<br />leges and appurtenances located thereon or in any way pertaining thereto, and the rents, issues, profits.
<br />reversions and the remainders thereof, including all such personal property that is attached to the improve-
<br />ments so as to constitute a fixture, all of which, including replacements and additions thereto, are hereby
<br />declared to be a part of the real estate conveyed in trust hereby, it being agreed that all of the fore-
<br />going shall be hereinafter referred to as the "Property."
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<br />FOR THE PURPOSE OF SECURING:
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<br />(a) the payment of indebtedness evidenced by Trustor's note of even date herewitb in
<br />the principal SUID of Ten Thousand Dollars & No/100--E$ 10.000.00 ), together
<br />with interest at the rate or rates provided therein, or the principal and interest on any
<br />future advance not to exceed the total principal SUID initially secured hereby as evidenced
<br />by promissory notes stating they are secured hereby, and any and all renewals. modifications
<br />and extensions of such notea. both principal and interest on the notes being payable in
<br />accordance with the terms set forth therein, which by this reference is hereby made a psrt
<br />hereof 0
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<br />(b) the performance of each agreement and covenant of Trustor herein contaiued; and
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<br />(c) the payment of any SUID 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 at the
<br />rate provided in the note.
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<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as followa:
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<br />1. Payment of Indebtedness. To pay when due, the principal of. and the intereat on. the indebted-
<br />ness evidenced by the note, charges. fees nnd all other SUlllS as provided in the loan inatruments.
<br />
<br />2. Title. Trustor is the owner of the property and has the right and authDrity to execute this
<br />Deed of Tru.t in respect tn the property.
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<br />3, Taxe. and As.es.ment.. To pay, when due, all taxes, special assessments and all nther ch.rgea
<br />.g.in.t the property. before the same become delinquent, and, in the event Beneficiary shall .0 require,
<br />to add to the payment. required under the note secured hereby, such amount s. may be sufficient to en-
<br />able Beneficiary to pay such taxes, a.sessments or other charges as they become due.
<br />
<br />4. Inaurance. To keep the improvement a now or hereafter located on the real estate described
<br />herein insured against damage by fire and such other haz~.ds as Beneficiary may require. in amounts and
<br />companies acceptable to Beneficiary. snd with loss payable to Beneficiary. In case of loas under such
<br />policie., Beneficiary is authorized to adjust, collect and compromiae, in its discretion, all claims
<br />thereunder and, at its sole option, is authorized to either apply the proceeds to the restoration of the
<br />property or upon the indebtedness secured hereby, but payments required by the note sh.ll continue until
<br />the .oas aecured hereby are paid in full.
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<br />5. Repair. Maintenance and Use. To promptly repair, restore or rebuild any buildings nr improve-
<br />ments now or hereaftar on the property; to keep the property in good condition and repair, without vaste
<br />and free from mech.nics or other liens not expressly subordinated tD the lien hereof; to not make, suffer
<br />or permit .ny nuis.nce to exist nor to diminiah or impair the value of the property by any act or outssion
<br />to .ct; and to comply with all requirements of law with respect to the property.
<br />
<br />6. Condemnation. In the event the property, or any part thereof, ehall be taken by eminent domain,
<br />Beneficiary is entitled to collect and receive all compensation which may be paid for any property taken
<br />or for damage. ~o property no~ taken, and 8eneficiary shall apply Buch compen8a~ion, at its option,
<br />either to a reduction of the indebtedness secured hereby or to repair and restore the prnperty SD taken.
<br />
<br />7. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which
<br />Trustor has agreed but failed to do, and Beneficiary may also do any act it deems necessary to protect
<br />the lien hereDf. Tru.tor agree. to repay, upon demand, any sums so expended by Beneficiary fDr the
<br />above purpo.... and any .ua .0 expended by Beneficiary shall be added to the indebtedness secured here-
<br />by and become ..cured by the lien hereof. Beneficiary shall not incur any personsl lisbility because of
<br />anything it may do or omit to do hereunder.
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<br />8, As.i~ts of Rents, Beneficiary shall have the right, power and authority during the con-
<br />tinuance of this Deed of Trust to collect the rents. issuea and profits of the property and of any per-
<br />sODal property located ther.on with or without taking possession of the property affected hereby, and
<br />Trustor h.r.by ab.Dlutely and unconditionally sssigns all ouch rents, issues and profits to Benefici.ry.
<br />Banaflciary. hovaver. hereby consent. to Trustor'a collection and retention of such renta. i..ueB and
<br />profita aa th.y accrua and bec~ p.yable. aD long as Trustor ia not, at such time, in default with re-
<br />apact to pa,..nt Df any indebtednees secured hereby, or in the performance of any agreement heremlder.
<br />If any ..ent of default deacrib.d hereafter in respect to this Deed of Trust shall have occurred snd be
<br />contlnuinl, Beneficiary, ee e matter of ri~lt and without notIce to Trustor or anyone claiming under
<br />Trustor, and without regard to the value of the truat estate or the interest of the Tru.tor therein,
<br />aball hey. tbs right to apply to any court having jurisdiction to appoint a receIver of the property.
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<br />9. In.paction8. Beneficiary, or its agents, representAtives or workmen, are author-fled to entt'!r
<br />at any ru.Oftable ti... upon or in any part of the property for the purpo.e of In.pecting the Sftme and
<br />for tho purpoae of parforming any of the sets it Is authorized to perform Wlder the term. of nny 10al1
<br />Inatruaenta executed by Truator.
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<br />10. Tra.ulfer of Property._ If all or any pArt of the property Of' any Lntcr1.HH llf 't'rwOllnr t Iwreln
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