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<br />'w!""'&.... .~, ~ f i
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<br />DEED OF TRUST
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<br />88- 103050
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<br />Thill Deed of 'i'ruet ill ..de thie 3rd day of June , 19~, by and 8IIlOTIgSter~ L. ..
<br />Gleason &. Sharon R ~~n~ ~ ~~ ' herelnafter refened to u Truator,
<br />whou ..illng .ddren 18 ~ _V n e_ d Island. NE 68801: "~ F. ~ck .
<br />Attorn.y .t lAw, h.r.in.fter referred to aa Trustee, whoee ailing addrelS ie ~Box 'I. ,
<br />Grand Island, NE 68802; nd THE OVERLIlIfD NATIONAL BANK OF GRAND ISLAND, hereinafter refernd to aa
<br />"Beneflci.ry," who.e lUil1nl addreu ia P. O. Box 1688, Grand IlIland, Nebraaka 68802.
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<br />ror valuable con.ideration, Truator irr.vocably granta, tranafera, conveya and assigns to Truatee, in
<br />tl'UIIt, witb r>over of .ale, for the benefit and aecurity of Benefici.ry, under and .ubject to the te~ and
<br />condition. of thb Deed of Truat, the follov1ng-d.scdbeel property. located in Hall COUIIty,
<br />lIebu.lta, t_itl
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<br />I.Dt Fifteen (15), in Block 1\ID (2), Normandy Estates, an Addition
<br />to the City of Grand Island, Hall County, Nebraska; and a tract of
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<br />land consisting of a portion of I.Dt Fourteen (14), Block 1\ID (2),
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<br />Normandy Estates, an Addition to the City of Grand Isl:md, Hall
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<br />County, Nebraska. said tract being IOOre particularly del'lcribed on Attached Exhibit A.
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<br />tOI.thar with all buildlnla. i.pro~nts. flxtur.a. atr..tr. .lleys, p.s..gevaye. eaae..nte. righta, prlvi-
<br />1.1" IIIld appurten.caa locateel th.r.on or in any vay pertainlllg there!to, and the nnn, taaues, profits,
<br />rover.iona and the r...1nd.r. thereof, includinl all auch person.l property th.t is atteched to the i.,rov.-
<br />88Dt. ao a. to con.titute a fixtur., .11 of which, Including replaceeents and .diitlon. ther.to, .re her.by
<br />d.claru to be . part of the real ..ute cOll_yed in truat hu.bJ, It balnl alnad that .U of the fore-
<br />loinl .hall be h.re1...fter referred to a. the "Prop.rty,"
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<br />POI THE PUlI'OSE or SECURING:
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<br />(.) the p.v-ent of indebtedneaa evidenced by Truator'a t~~9P,r~~~__
<br />the pdlldpal s_ of 'T'hirt('!fffi t:mw::Hnrl nin"" hllnrlrRrl cu~ t'a'j{~
<br />vith 1nt.reat at the rate or rate. provided therein, or the princi al and interest on any
<br />future edvanc. not to exceeel the total princip.l au. lnttially aecur.d hereby as evidenced
<br />by praa1..o~y note. .t.tinl thay .re secured hereby, and any and all renrvala. modifications
<br />and .at.naiona of .uch not.a, both principal and tntereat on the note. baias p.yable in
<br />.ccordane. vlth th. t.~ ..t forth therein. vhicn by thia reference ia hereby mad. . pert
<br />her.of:
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<br />(b) the perforaance of e.ch asre_ant and covenant of Trustor herein contained; and
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<br />(c) the po~t of any aUB or aum. of money which may be hereafter paid or .dveneed
<br />by Ben.ficiary under the teraa of thi. Deed of Tru.t, tosether with intereat thereon et the
<br />rat. provid.d in the note.
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<br />To prot.ct the ..curity of thia De.d of Tru.t. Tru.tor hereby covenant. and agree. aa followa:
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<br />1. Payaent of Ind.btedn.... To p.y when due, the princip.l of, and the inter..t on, the indebted-
<br />n... .vi~ced by the not., charle., fe.a end all other SUS. aa provided in the loan inatrweents.
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<br />2, Titla. Tru.tor I. the owner of the property .nd ha. the right and authority to e..cute tbla
<br />Deed of T~in reapect to tha property,
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<br />3. T.... and Aaa..acent.. To pay, vhen due, .11 t.xaa, apecial aaaeaaaenta and all other ch.rsea
<br />.sainet the p......rty. before the ._ b.e.... d.linquent, end, in the av.nt Benefici.ry .hall ao require,
<br />to add to tha p.,...nt. rBqutru Wid.... the nota .ecu...ed hllreby, .uch _ont aa ..y b. aufUcient to en-
<br />.ble Beneficiary to pay such t...., ........uta or other chars.. .. they becoa. due,
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<br />~. In.uranc.. To k..p the ~rove..ut. now or hereefter loc.ted on tha real estate deacribed
<br />har.in ".ur.d ...in.. d..... by fir. and .ueh other h...rd. .. a.neflcl.ry ..y raqui...., in amount. .nd
<br />~_i_ aee.pt.bl. to "ndicl.ry. and vith 10.. ".yable to Beneflciary. In c.." of 1088 und..r euch
<br />pollela., aen.flc.....y 1. .uthort.ed to adJust. collect and eoaproai.., In It. di.er.tlon, all cl....
<br />thareullder and. .t He .ole option, too .uthorbed to .ither apply the proce.da to the reatoratlon of tha
<br />,roperty or upon the lnd.btedne.. ...ured hereby. but p.,.ant. requtred by the note .hall continue until
<br />the .~ .ecured her.by are p.td 1n full.
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<br />" ..pai.... Maintenance and U.e, To pro.ptly rep.ir, restore or rebuild any buildins. or t.proye-
<br />_t. _ or h.redter on the property; to keep the property in good condition end repair. vithout v..te
<br />_d free fro. .-chanica or other lia.. not expra..ly aubordi.atad to the lie. hereof; to not .ake, .uff.r
<br />or p.~lt .ny nui.anc. to eaiat nor to dt.1nish or lap.lr the value of the property by any act or oata.ton
<br />to .ct; and to c~ly,with all requir....nta of lav with respect to the property,
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<br />6. Cood_.UlIIl, In the eftnt the property. or any part thereof, ahall b. t.lIen by ea1nent do_in,
<br />....flciary ia ..titled to collect and receive all coap.n..tlon which asy be paid fer any property tak8ft
<br />or for d...... to property not taken, and Beneficiary shall apply auch cu.penaation, .t it. option,
<br />.ither to a reduction of the indebtednea. ..cured her.by or to rep.ir and reator~ the property .0 taken,
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<br />7. P....fo~ce by Beneflcbry, Beneficiary ..y. but sh.ll have no obUSlitlon to, do .ny .ct which
<br />Tru.tor ba. .Breed but failed to do, and Beneficiary ..y .lao do aoy act It d.... n.ce.a.ry to protec~
<br />tha lien halsof. Trustor earee. to ....p.y, upon d_d. any ausa ao expended by Beaeflciary for the
<br />aboge ptlrpo..., lIIId any.... .e expended by lIeftefld.ry sh.n be .dd.d to the indebtedness ..cured h.re-
<br />by .... bac:_ .ecured by the Uea hereof. ~flci.ry .h.ll not ineur any ,enonal U.bU lty b.c.us. of
<br />.ythbS it _y do or .-ir tu do h.......der.
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<br />8. Aaal!ll\8lEOta of Bent.. Beneflcbry ah.11 h.... the right, pover and authority clurlns the con-
<br />t1n_c. of thia Deed of Truat to collect the renta, i.....a and proUta of the prop.rty and of .y per-
<br />.onal property loc.ted theraon vlth or vU:hout t.k1ns pones.ion of the property aff~t.d her.by, and
<br />trustor her.'y .bsolutely end uncondition.lly ..ai8". .11 .uch rent., taaues and profit a to aeneficiary.
<br />....ftci.ry, ""-vel'. hareby connats to Truator'. collactiOh and retention of .uch renta, laeu.. Md
<br />profltD .. they accrue and becowe payable, .0 lon8 e. Truator t. not, at .uch ti.., in default vith 1'.-
<br />.peet to pa,....t of any ......tadll... ..cured hereby, or In the perfo......c. of any .gre.....t her....d.r,
<br />If ny .....at of oIaf.ult d.scrlbed hereafter in re.pect to thb Baed of Truet shall h._ occurred and b.
<br />coattDulDl. '-neflcl.ry, .a . ..tt.r of rlsht and vithout notlc. to Truator or .nyone clal.lnl under
<br />TrU8tor. anol vlthout re..rd to the value of the trust eatate or the intere.t of the Truator thareln,
<br />..11 haft tha rtsht to apply to .oy court hav!ns jurladtctlon to .ppolnt A receiver "f the property.
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<br />9. In.pectiODa. "~fLtiary. or Ita ..enta, repre.entatlvea 01' vo~n, are authorl&ed to enter
<br />.1' any re~bl. tt.a upon or In any part of t~ property for the purpo.e of In.pectlns the .... .nd
<br />for the purpose of 'trfo~lns any of the .ct. It ia .uthori&ed to perfo~ under th. t.~ of any loan
<br />I..tr~t. executed by Truator.
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<br />10. Irena'.r of Propert,. 1f all or any part of the property or any tntere.t of TruatoT ther.ln
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