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<br />88-102483
<br />DEED OF TRUST
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<br />CONT5:d
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<br />This Deed of Trust is made this 5th d!,l' of Mav , 19 88 , by and smongClvde J. Meis
<br />l'U,-': Rosermry A. Meis Husbancra:ffii Wife , hereinafter referred to ss "Trustor,"
<br />whose mailing sddress is ;:,i:.:::ts I:lruu'IroOd Blvd.. Grand Islam.a-NE 6880~~ ~d ~ Baack,
<br />Attorney at Law, hereinafter referred to as "Trustee," whose msiling address is O. 7.
<br />Grand Island. NE 68802; and TIlE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as
<br />"Benefidary," whose mailing address is P. O. Box 1688, Grand Island, Nebraska 68802.
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<br />For valuable consideration, 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 />conditions of thiB Deed of Trust, the following-described property, locsted in ~l County,
<br />Nebraska, to-wit:
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<br />Lot 19, Block 2, Brentwood Subdivision in the Citv of
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<br />Grand Island, Hall County, Nebraska.
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<br />together with all buildings, improvements, fixtures, stree~B, alleys, passageways. easemencs, rights, privi-
<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 tlUlt is attached to the tmprove-
<br />ments so as to constitute a fixture, all of which, including replscements 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 herewiLb in
<br />the principal sum of Forty-ninp tlvm!'l~nrl Rt: no/1~$ 4~ ono 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 sum initially secured hereby as evidenced
<br />by promissory notes stating they are secu~ed hereby, and any and all renewals, modifications
<br />and extensions of such notes, both principal and interest on the notes being payable to
<br />accordance with the terms set forth therein, which by this reference is hereby made a part
<br />hereof;
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<br />(b) the performance of each agreement and covenant of Trustor herein contained; and
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<br />(c) the payment of any sum or sums of Cloney which may be hereafter paid or advanced
<br />by Beneficiary under the terms of this Deed of Trust, together with interest thereon at ~he
<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 follovs:
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<br />1. Payment of Indebtedness. To pay when due, the principal of, and the interest on, the tneebted-
<br />ness evidenced by the note, charges, fees and all other sums aa provided in the loan instruments.
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<br />2. Title. Trustor is the owner of the property and hes the right and authorit)' to esecute tM.s
<br />Deed of T~in respect to the property.
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<br />J. Taxes and Assessments. Tn pay. when due~ all taxes, special assessments and all o~brr charges
<br />against the property, before the same become delinquent. nnd, in the eyent Beneficiary shall so require,
<br />to add to the p8~nts requir~d under the note secured hereby, such amount 8S may be sufflcteut to en-
<br />able Beneficiary to pay such taxes, assessments or other charges as they become due.
<br />
<br />4. Insurance. To Ileep the I.mprovements now Or hereafter located on the relll estate dc:scrtbed
<br />herein insured against damage by fire snd such other hazards as Beneficiary may require, 1n amounts and
<br />companies acceptable to Beneficiary, and with loss payable to Beneflcisry. In case of loss under such
<br />policies, Beneflcisry is authorized to adjust, collect and compromise, In its discretion, all elalms
<br />thereunder and. at Its 801e optIon. iB authorized to etther apply the proceeds to the rCRtot3thm or the
<br />property Or upon the indcbtedness secured hereby, but pa>~ents required by the note shall continue until
<br />the 8U11ll1 secured hereby are paid in full.
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<br />S. Repair, Maintenance and Use. To promptly repair. restore or rebuild any buildings or tmprove-
<br />mentD now or hereafter on the property; to Ileep the property in good condition and repair, vithout vaste
<br />and free from mechanics or other liens not expressly subordinated to the lien hereof; to not ~ake, suffer
<br />Or permit any nuisance to exist nor to diminish or impair tl~ value of the property by any act or omission
<br />to act; and to comply with all requirements of law with respect to the property.
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<br />6. Condemnation. In the event the property, or any part thereof, shall be taken byemlnent domain.
<br />Beneficiary is entItled to collect and receive all compensation Which may be paid for any property taken
<br />or for damages to propert] not tallen. and Beneficiary shall apply such compensation, at Its option,
<br />either to a reduction of the indebtedness Becured hereby or to repair and restore the property so taken.
<br />
<br />7. Performance by Beneficiary. Beneficiary may, but shall have no obligstion to, do any act ~~ich
<br />Trustor has agreed but falled to do, and Beneficiary may also do any act it deems necessary to protect
<br />the lien hereof. Trustor agrees to repay, 'upon demand. any sums so expended by Beneficisry for the
<br />above purpoaes, and any sum so 6Apended by Beneficiary shall be added to the indebtedness secured here-
<br />by and become secured by the lien hereof. Beneficlnry Bhall not Incur nny personal liability because or
<br />anything it may do or omit to do hereunder.
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<br />8. Assignments of Rents. Beneficiary shall have the ri8ht, power and authority during the con-
<br />tinuance of this Deed of Trust to collect the rentA, iBsues and profits of the property and of any per-
<br />sonal property lo~sted thereon with or without taking possession of the property affected hereby, Bnd
<br />Trustor hereby absolutely and unconditionally aBslgns all such rents. issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Trustor'B collection and rete~tion of such rents, issues and
<br />profits as they accrue Bnd become psyable, 80 long 8S Trustor i8 not. at such time, in default with re-
<br />spect to psyment of any indebtedness secured hereby, or In the performnnce of any agreement hereunder.
<br />If any event of default described heresfter in res,lect to this Deed of Trust shall hnve occurreJ snd be
<br />continuing, Beneficiary, as a IIUItter of right nnd without notice to TruBtor or anyone claiming under
<br />Trustor, and without regard to the value of tha trust oBtste or the Interest of the Trustor thereIn,
<br />shall have the right to npply to any court havlnfl .1urllldlctlon to appoint a receiver of the property.
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<br />9. lnllPcr:tlono. Deneficiary, or lts age-ntH, rcprCRentotivcfI or workmen. arc nuthor1.~ed to entet'
<br />at any reaoonable time upon or in noy pnrt uf the property for the purpose of lnspectlnfl the 8.,m" anJ
<br />for the l,urpos8 of I,erfamlng any of the ncta It III authorIzed to perform under thl! terms of Im~' loan
<br />lnatrumsnto executed by Trustor.
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<br />10. Tr~n.tiIJr of Proporty. Ie 811 at' nny pUTt or the propert)' or any interest of Trustor then~tn
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