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88--i't03660 _~\o ~ DEED OF TRUST '4....... i'Q1.MK THfSOEEDOFTRUST,madethls 3rd day or June , 19~byandamongBrad W. &: Laurie B. Giesen- hagen husband &: ~. re &: lIark S. &: 1, D' 1 (;1 1.!M QI8 mailing address I. (Str-..~nn Happy Canyon (<<94)- .ary oy e t::::>tm 1ell en, husband &: wi e (Statland Zip) ('.0 RO?37 (herein "Trustor''); and Bank of Doniphan malllngaddr8ssls(Strllt) P.O. Box B (City) Doniphan (StateandZlp) NE 68832 (Herein "Tru.tee''); and -B,ank 0 f Doni phan , whose mailing address Is (Streetl P.O. Box B (Cltyl Doni phan (Stateand Zip) NE 68832 ,(herein "Beneficiary"). Englewood who.1 FOR VALUABLE CONSIDERATION, including the Indebtedness Identified herelJi and the trust herein created, the receipt of whlcn Is hereby acknowledged, Trustor IlTIIVOc:ably grants; transfers, conveys, and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and secur- Ity of Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the real property described as follows: The South HaIr of the Northeast Quarter (stNEi) _35-10-9 and the North Half of the Southeast Quarter (NiSEi) 35-10-9 al+ in Hall County, Nebraska. TOGETHER WITH, all rents, profits, royalties, Income and other benellts derived from the real property; all leases or subleases covering the real property or any portion thereof, now or hereafter existing or entered Into, and all right, title and Interest of Trustor thereunder; all Interests, estate or other claims, both In law and In equity, which Trustor now has or may hereafter acquire In the real property; all easements, rlghts-of,way, tene- ments, hereditaments and appurtenances thereof and thereto; all 011 and gas rights and profits, water rights and water stock; all right, title and Interest of Trustor, now owned or hereafter acquired, in and to any land lying within 'the right-of-way of any street or highway adjoining the real property, any and all buildings, fixtures, improvements, and appurtenances now or hereafter erected thereo,; or belonging thereto, (herein referred to as "Improvement" or Improvements"); and any and all awards made for the taking by eminent domain, or by any proceedfng or pur- chase In lieu thereof, of the whole or any part of the real property. AU of the foregoing estate, property and Interest hereby conveyed to Trustee herein collectively referred to as the "Pioperty". THIS DEED OF TRUST SHALL SECURE: (a) ~W~mind&~nf{la ~ed by Trustor's note of even date herewith In the principle sum of One Hundred Fi fty Dollars(S 150" 000. 00 ), together with Interest at the rate or rates provided therein, (hereln,'together with any and all renewals, modifications, and extensions thereof, referred to as the "Note") both principal and Interest on the Note being payable in accordance with the terms set forth therein, reference to which is hereby made,.!he final PllymeQt..Q1.grlnclpal and Interest, If not sooner paid and If no renewals, modlflcatlons or extensions are made, due and payable on Ee br . J, , .l ~~j, (b) Th! parformance of each agreement and covenant of Trustor herein contained; and (c) The payment of any sum or sums of money with Interest thereon which may be hereafter paid or advanced under the terms of this Deed of Trust, (d) The payment of any future advances necessary to protect the security or any luture advance made at the option of the parties; and (e) The performance of an obligation of any other person named In this Trust Deed to a beneficiary. TO PHOTECTTHE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS: 1. P.yni.nt 01 Principal .nd lntera.t. Trustor shall promptly pay when due the principal of and Interest on the Indebtedness evidenced by the Note, and all other charges and fees as provided in the Note, and the principal of and Interest on any Future Advances secured by this Deed of Trust 2. Warranty of TIll.. Trustor Is lawfully seized and possessed of good and indefeasible title and estate to the Property hereby conveyed and has the right to grant and convey the Property; the Property Is free and clear of all liens and encumbrances except liens now of record; and Trustor will warrant and defend the title to the Property against all claims and demands. 3. Matnlenance .nd Compll.nce with Llw.. Trustor shall keep the Property in good condition and repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease If this Deed of Trust Is on a leasehold. No improve- ment, now or hereafter erected upon the Property shall be allered, removed or demolished without the prior written consent of Beneficiary. Trustor shall comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property and not commit, suffer, or per- mit any act to be done in or upon the Property In violation of any law, ordinance, regulation, covenant, condition or restriction. Trustor shall com. plete or restore promptly and in good workmanlike manner any Improvement on the Property which may be damaged or destroyed and pay, when due, all claims for labor performed and materials furnished therefore and for any alterations thereof, 4. tn.ur.nce. Trustor, at Its expense, will maintain with Insurors approved by Beneficiary, Insurance with respect to the Improvement. and per- sonal property, constituting the Property, against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended coverage endorsement, In an amount equal to at least one hundred percent of the full replacement value thereol and Insurance against such other hazards and In such amounts as Is customarily carried by owners and operators of similar properties or as Beneficiary may require for Its protection. Trustor will comply with such other requirements 8S Beneficiary may from time to time request for the protection by Insurance of the Interests of the respective parties. All Insurance policies maintained pursuant to this Deed of Trust shall name Trustor and BenefiCiary as In. sureds, as their respective Interests may appear, and provide that,there shall be no cancellation or modification without any less than 15 days prior written notification to Trustee and Beneficiary. In the event any polley hereunder Is not renewed on or before 15 days prior to Its expiration date, Trustee or Beneficiary may procure such Insurance In accordance with the provisions of paragraph 7 hereol. Trustor shall deliver to BenefiCiary the original pOlicies ot Insurance and renewals thereof or memo copies of such poliCies and renewals thereof, Failure to furnish such insurance by Trustor, or renewals as required hereunder shall, al the option 01 Beneficiary, constitute a default. 5. Tax.., "-....m.nt., .nd Ch.rg... Trustor shall pay all taxes, assessments and other charges, Including, without limitation, fines and 1m, positions attributable to the Property, and leasehold Rayments or ground rents, if any, before the same become dellquent. Trustor shall promptly furnish to BenefiCiary all notices of amounts due under this paragraph, and In the event Trustor shall make payment directly, Trustor shaH prompt- ly furnish to Beneficiary receipts evidencing such payments, Trustor shall pay all taxes and assessments which may be levied upon BeneficiarY" Interest herein or upon this Deed of Trust without regard to any law that may be enacted Imposing payment of the whole or any part thereof upon the Beneficiary. ' l. ~, I ;' ~ I' L --.J"