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88- 103707 DEED OF TRUST (Open End Single Note) This Deed of Trust is made this _ Ist day of Icy 19 88, by and among THOMAS M. FARR AND BONITA J. FARR,husband and wife ,hereinafter referred to as " Trustor," whose mailing address is 1522 North Hancock, Grand Island Nebraska 66801 AREND R. BAACK Attorney at Law, hereinafter referred to as "Trustee," whose mailing address is P. 0. Box 790 Grand Island NE 6BB02 and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Beneficiary," whose mailing address is P. O. Box 1009, Grand Island, Nebraska 68802. For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to Trustee, in trust, with power o,f sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the following- described property, located in HALL County, Nebraska, to -wit: LOT FOUR (4) ISLAND ACRES NUMBER NINE (9). AN ADDITION TO THE CITY OF GRAND ISLAND HALL COUNTY NEBRASKA. together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurte- nances located thereon or in any way pertaining thereto, and the rents, issues, profits, reversions and the remainders thereof, including all such personal property that is attached to the improvements so as to constitute a fixture, all of which, including replacements and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it being agreed that all of the foregoing shall be hereinafter referred to as the "Property." FOR THE PURPOSE OF SECURING: (a) the payment of personal indebtedness owing from Trustor to Beneficiary, as evidenced by a Promissory Note of even date herewith in the original principal amount of TWELVE THOSUAND FIVE HUNDRED AND NO /100- ------------------------------------------ - - - - -- $ 12.5n❑_0❑ ►: (b) the payment of interest at the rate or rates provided in the afore - described note and the payment of both principal and interest on any and all renewals, modifications and extensions of such notes; (c) the payment of principal and interest on any future advance as may be evidenced by promissory notes stating they are secured by this Deed of Trust; provided, however, that the total principal indebtedness, not including sums advanced to protect the security or interest accrued, shall not exceed the sum of TWFIVF THOUSAND FIVE HUNDRED AND NO /100--------------------- - -- -($ 12.5nn. ❑n ); (d) the performance of each agreement and covenant of Trustor herein contained; and (e) the payment of any sum or sums of money which may be hereafter paid or advanced by Beneficiary under -1-