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<br />88-1028q~T5'd
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<br />DEED OF TRUST
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<br />'Ihis l>e=d of Trust is made this 20th day of Mal ' 1988 ,by and among Sherid'll1 T,
<br />Anderson and Ruth A. Anderso~band and Wi e , hereinafter referred to as "Trustor,"
<br />whose llIl1iling address is 4503 Qua1 Lane. Grand Island, ~ 68801; Arend R. Baack
<br />Attorney at Law, hereinafter referred to as "Trustee," whose mailing address is IJ.O. Box '/90. _
<br />Grand Island. NE 68802 ; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referr~u to as
<br />"Beneficiary," whose mailing address is P. O. Box 1688, Grand Islend, Nebraska 66802.
<br />
<br />For vc.luable consideration, Trustor irrevocably grants, transfers, conveys and assigns t.o Trustee. in
<br />trust, wIth power of sBle, for the benefit and security of Beneficiary, under and subject to tbe terms and
<br />condit1ons of this Deed of Trust, the following-described property, located in Hall COWlty,
<br />Nebraska. to-wit:
<br />
<br />Lot Twenty Three (23), Eagle Lake Estates Subdivision. Hall
<br />
<br />County. Nebraska.
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<br />together with all buildings, 1mprovementB, fixtures, street~1 alleys, passageways, easements, righta, privi-
<br />leges and appurtenances located thereon or in any ..-ay pertaining thereto, and the rents, issuest profitBt
<br />reversions and the remainders thereof, including all Buch personal property thot 19 attached to ~he improve-
<br />ments ao 4S to constitute a fixture" all of which, including replace.mc:nt:s and additions thereto, are hereby
<br />declared to be a part of the real estate conveyed 1n trust hereby, it being agreed that all of the fore-
<br />going shall be hereinafter referred to aB the "Property.."
<br />
<br />FOR TIlE PURPOSE OF SECURING,
<br />
<br />(a) the payment of indebtedness evldenced .by Trustor' s n"S~~'iem,'1~
<br />the principal SUlO ofFortv-four thousand "me hundred:~ i-; together
<br />with interest at the rate or rates provided therl!ln, 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 secured hereb,.. and any and all renewals, modifications
<br />and extensJons of such notes, beth principal and lnterest on the notes being payable in
<br />accordance v.lth the termn Bet forth f.herein, which by this reference 1s hereby made a part
<br />hereof;
<br />
<br />(b) tht,. pcrform.'lncf! of each .1~n.'CUl':!tlt and ,.ovt'!nant of Truntor herein cont:l1ncd; and
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<br />(c) the payment of nny Hum or sums of mone)' vh ieh may be hercafter paid or advanced
<br />by Beneficiary under the tennll of thlA Deed of Trust, together with .lntcrcst thereon at the
<br />rate provided In the note.
<br />
<br />To protect the security of this Deed uf Trust:. Trustor hcr~by covenant a and ugreeB as follows:
<br />
<br />1. Payment of Indebtcdnc9n. To pay when due, the princ 1.pal of, and the interest on, the indebted-
<br />neBU evidenced by the note. ch~JrKe8, feeR and all other HumS as provLded in the loan lnstruments.
<br />
<br />~. Title. Trustor i8 tho owner of the property and has the right and authority to execute lhis
<br />Deed of Truat in respect to the property.
<br />
<br />J. Taxes and Assesllments. To pny, when due. a.ll tolJxep, npccial lUiRl'IIoments IInd nIl other charges
<br />against tho property, before the ",nme become delinquent, and, to the event Bencficiory Aha!l 80 require,
<br />to add [0 the p.llyaentl!J required undt!lr the note secure.d hereby, Buch amount as may be sufficient to en-
<br />able Be.ncflc1ary to pay such taxl:,!s, il9$Cssmentl11 Of other chaTg~H1 as they become due.
<br />
<br />4. Insuranc.e. To keep the l.mprovement6 noW" or herel1fter located on the real outate detlcribed
<br />herein 1nsured against damage by fire Ilnd such other ha:r.ardn liS BenefIcJary may require, 1n amounts and
<br />companies acceptable to Beneficiary, IUld with 1068 payablo to BeneflC'Ulry. tn CRse of lass under such
<br />policies, lJeneficiary is authorized to adjust. collect and compromise, tn itA discretion, all claim9
<br />thereunder "11\1.1, at its Hoh~ option, is authorSz(,'d to uithcr apply the procecuH to the rt'J!ilorntlon of the
<br />proIJerty ot' upon the indebtedness secured hereby, but payments required by the note shnll continue Wltll
<br />t he sums necured hereby are paid in full.
<br />
<br />5.. Repair. Mal ntenanc.e and U8e~ To prompt 1 y repai r I restore or rebu 11 d any buildings or t.mprovc-
<br />mentn now or heTenftcT on the property; to keep the property in good condition and repair, wIthout waste
<br />and free from mechanics or other liens not expresaly subordinated to the lien hereof; to not make, suffer
<br />or permit any nuisance to exist nor to diminIsh or impair t he value of the property by any act or omission
<br />to act; and to cOlDply w1.th all r~qulrement8 of law with respect to the property.
<br />
<br />",!,--. ...-6.. Condemnat ion. In the event the propert y. or any part thereof, sho.ll be taken by eminent domain,
<br />Beneficiary Is entitled to collect nnd receive all compensatIon which may be.. paid for any property taken
<br />or for damages to property not taken, and Beneficiary shall apply such compensation, at ite option.
<br />either to a reduction of the indebtedneso secured hereby or to repair and restore the property so taken.
<br />
<br />7. Performance by Beneficiary. BenefLciary may. but shall have no obligation to, do any nct which
<br />Trustor haa agreed but [ailed to do, and Beneficiary may aiso do any act it. deems necessary to protect
<br />the lien hereof. Trustor ap;rees to repny. upon demand. any sums S<:J expended by Beneficiary for the
<br />Dbove purposcst and any sum 80 expenued by BeneficIary shall be added to the indebtedness secured here-
<br />by and become secured by the lien hereof. Beneficiary Bhall not incur any personal liability becBuse of
<br />anything it may do or O1IIit to do hereunder.
<br />
<br />8~ Assignments of Rent8. Benefic Lo.ry 8hB11 have the rt~ht, pover and authority durtng the con-
<br />tinuance of this Deed of Trust tu collect the rents, issues llIld profits of the property and of any per-
<br />sonal properey loeated theraon with or without taking possession of the property affected hereby, and
<br />Truator hereby absolutely and unconditlonally asuigns all such rents, lssues and profits to BenefiCiary.
<br />Beneficiary, however, hereby coneentfJ to Trustor' B collection and rctent 10n of such rents, issues and
<br />profit1l a.e they accruo l\nd becm. payable, BO long ao Trustor 1M not... at such time, in default w1th re-
<br />spect to payment. of any tndebtfldneJl. secured hereby, ot' 1n the performance of on}' agreement hereunder.
<br />If any event of default delcrlbed hereBfter 1..n renpect to this Deed of Trust sholl have occurred and be
<br />continuIng, lIene[icf.aryt as a .attar of right and without not-ice to Trustor or nnyone claiming under
<br />Trustot', ml~ vlthout r"p.:llrd t() thle v.JluCl.'! of the trust cst:tte or the interest of the Trustor therein.
<br />shaLl have the rtRht to 4pply ((J any court hdving Jurl.adlctSon to appoint a receiver ~")f lhl.! proporty.
<br />
<br />9. In.Ptlct~. BenoClc:illry, I,r He DMcnllJ, r~p:r(!Hi:!ntatlveR or ",.orkmen, art~ lIuthorlzed to enter
<br />at MY [tlAsonable time upon or in IIfIY flort of the pr(lperty fat: the purpmw of Inl!ll)(\celn~ the same nnd
<br />for the. purpose of plltrComtnR an)' or the act" it 11\1 authorized to perform undl'!r the tl"rro6 of nn).' 101m
<br />IMtt'\IIeI1t9 executtt!d by Tnultor.
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<br />HL ~.!!!!-.!..~?.!.J:!2.F.:!!..~. If All "'r III1Y pare of th(" propp.T't'y or .'H\? 1nten'gt nf trustor tlwft'tn
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