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<br />COHT5: d
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<br />88-103924
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<br />, 19 88 . by and Mon8 Tim::lthy L.
<br />1 hereinafter referred to 4S "Trul!ltor."
<br />vhose ..111ng .ddre811 Ie ~; ~C".k
<br />Attomey at lAW, heretnafter referred to as 'Trustee. wase mailing address 111~X 790.
<br />Grand Island. NE 68802; and TIlE OVERLAIID IIATIllIIAL BAllI( OF GRAIID ISLAIID, herelnBfter referred to ae
<br />"len.flctaI'Y, " wholle .ailing addreslI la P. O. Box 1688, Grand Island, Nebraska 68802.
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<br />For valuable can.ider.tlon, Truslor lrrevoc.bly grants, transfer., conveys and Hslgn'll to 'Trustee, tn
<br />trut, with power of ..le, for the benefit and Bee-urlty of Beneficiary, under and lIubJect to the terma and
<br />__ond1t1ana of th1a DHd of Truat, the follov1n8-deacribed property, located 1n Hall County,
<br />Nebr..ka, tD-vit:
<br />Lots Niue (9) and Ten (10), Block Three (3), Gilbert's Addition
<br />to the City of Grand Island, Hall County. Nebraska, AND part
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<br />vacated alley adjacent to Lots Nine (9) and Ten (10), Block
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<br />Three (3). Gilbert's Addition, as shown in Ordinance No. 2756.
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<br />filed January 12, 1953 in Book "){", Page 149.
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<br />tos_ther with all buildings, i.proveaent8, Uxturetl, Itreet_. alleys, pas.agevay_, ea.ements, rights, prtvt-
<br />1ele. and .ppurtenane.. loeated thereon or in any w.y pertaining thereto. and the rent., i..uell, profit..
<br />rever.ione and the r...1ndera thereof. including all .ueh perlonal prop.rty that ia attached to the 11lprove-
<br />.eat. .0 _ to conatitute a fixture, all of which, 1ne1OOlo1 replacement. and .ddition. thereto, are herab,.
<br />declared to bt! a part Co! the real e.tate conveyed In trust hueby, it belos agreed that all of the fore-
<br />loinS .hall be heralnaft~1' l'eferr.d to a. the "Property. II
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<br />
<br />**A Single
<br />Person
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<br />FOR THE PI/ltPQSE OF SECUIUNG,
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<br />(a) the paywent of indebtednesl e-vtdenced by Trustor I s note of even date herewith in
<br />the prtncipll! e... of Fortv-four thousand & noll00-- ($44 ()()() no ), t08ether
<br />vith interest at the ("ate or rate. provld&d therein. or the principal and Interf:l!lt on any
<br />future advance not to exceed the total prlnelp.l ftUlll initially securC!d hereby All evldeneed
<br />by prc.ll..ory Dotel etating they are secured hereby, and any and all renewal_, .,diflcationll
<br />and eaten. Jon. of such notel, both principal and interest. on the- notea bei"8 payable In
<br />accordance with the tarIUI let forth therein, which by thi. reference 18 hereby ..de. part
<br />hereof j
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<br />(b) the per(onwnce of e.ach agreement .and cov~nant "f TruPltor heretn contained: and
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<br />(e) the par-ent or any Ita or lUll. of money vh 1ch ..Y be herf!after paid or advanced
<br />by Beneficiary t.mder the tenll of this Deed ot Truat, tOKether with Interellt thereon at the
<br />rate provided In the note.
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<br />To protect the 86curlty of this Deil!!d of Trust. Trustor I\ereby covenants and agree."a. (ollov.:
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<br />L Pa:r-ent of lndebtednea.. To pay whirn due, lhe principal of, find the tntere.t on. the indebted-
<br />ne.. evldftlced by the note, charge., fee. Bnd all other .UlaS .. provided in the loan In.truamt..
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<br />2. !.!!.!!. Tru.nor 11 thl!! owner of the property and ha. the rtlht and authority to ...cuta this
<br />Deed of Trult tn reapect to the proPf'rlY.
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<br />3. tan. and uae.._nt.. To "ay, when due, .11 tauA, .pe~i.l .1I......'n. and all oth.r char...
<br />..aln8t the pronerty, bIIfore the .... becOtH delinquent, and, In the event ......flclllrJ .hall 1('1 require,
<br />to add to the p..,..__... requIred under tt. note t!le~ured hereby, luch .lIOUIIt .. .., b. lIu"letent to en-
<br />able 'eMU,clar, to pI) cucl1 t..... .....gmt. or or;her ehar.e. a. tMY b.c~ due.
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<br />It. lneur.m;c. To :r;eep the l.pr011e.ent.a now or here.ltrr located Of'l the nuil .nl!. de.erlbed
<br />herein tn.urea _Katner d...ce by fire .nd lIuch other hazard. Pl. lenefl~(.ry ")I' r.qutre, 1ft allOUfttl and
<br />cOIIpant.. .ccept.~,. '"I) Beneficiary. and vlth 10.. payable to IeMUclarr. In ca.. or 10.. under luc:h
<br />pollele., lefteflcl.AY 1_ authortzed to adjutlt, collect and c~pr~lae, in it. di.cretion. all clal..
<br />thereunder ..d, .;.. tta .ole option, is Muthorhed to either apply the proceed. to the r.aloratton or the
<br />pl'operty or upt"'d the lndebtedn... ..cured hereby a but pa,..nt. required by t he not. .hall cont lnue until
<br />tlw ad18 e..cured hereby are paid in full.
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<br />:it a.pair, tlalnt.en.nce: and U.e. To pr~tJy repair, re.~or. or rl!bulld any butldln.. or taproy.-
<br />MIlt;. now or heE..fter on the pl'op4llf't)l', to keep the property in Rood condition ..d repair, without vaate
<br />_d fr.. rrOll .-chanIca or other Uen. not e:llJ're..ly .uborcUnated to the lien hereor; to not aak., .uff.1'
<br />01' ,.rait any aula_c.o to e..J.t nor to d1a1nlah or :lalpair t he value of the propel'ty by an)' act 01' 0....1..1011
<br />to act; and to cOIIIpl,. .wlth all I'.quire..nt. of lav with re.pect to the property.
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<br />6. COOd.....tlOl'l. In the event the property. or any part thereof. .hall be taken by e.tnmt do..tn,
<br />aen.rlcla..., t. nttltl.ed to coUKt and recei."e all co.pe.n.ation which ..y be paid for an, property taken
<br />or (OJ; d_ael!! to property not taltnt, and Benefiel.r)' .h.U apply Buch c~n8.tion, at it. option,
<br />elthe" to . I'eduction of the lndebtectne.. .ecured her4by or to repair and re.tore the property .0 taUn.
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<br />7. 'erforaaDce bY Benet Ic i. ry. Bene r Ie. "ry ..y, but sh.ll h8."e no ob 11&.t ton to, do any act which
<br />Trultor ba. a.reecl but failed to do, .nd BEnefici.ry _y also do IIny act it de... neceB.8ry to protect
<br />the lien her.of. TrU.tOT alree. to repay, upon de-.nd, any aual 80 expended by !eneflclary for the
<br />.bon purpo.... and any .~ .0 e.apend.d b,. Bl!fteflelary .hall be added to tbe indebtedn... .ecured here-
<br />by and MCOIIIe ..cured by the lien her.of. Ben.flcl.ary shall not Incur .ny per.anal liability because of
<br />..ythinl It _y do 01' oalt to do hereunder.
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<br />I~ Aa.......nt. of lente. Benaflciary ah.ll h...... the rllhlt, power and authority durlnB the con-
<br />tin.....c. of thl. Deed of Truat to collect the rentlJ, t..... and profits of the property and of any per-
<br />.Oft.l p'l'opert, located thareon vlth or without taldng po..e..ton of the property .Heeted hereby, and
<br />Irutor hareb,. abaolutely and Wlcondltlon.lly .s"lps all auch rent., is.unlt and profits to leneflclary.
<br />"twftc:lary. ho.....r. hereby con..nta to Trustor'. collection and retention of such rent., is.ue. and
<br />protlt. .. the,. accrue and bec~ payable, !to 10111 .. Truuor i. not. at such tt.., tn default vlth re-
<br />.,ect t:o payaent of any lad.bE....... ..cund hereby. or In the perfoflMftee of any ....ret'fUnl: hereunder.
<br />U MY ennt of "'efault d..erlbed here.lter In respect to this De~d of TrUAt shall h.ave occurred and b.
<br />cOfItlaulna, .....flclary, .. a ..tter of rlPt and without not let! to Tru.tor' or anyone clet.inl mtd.r
<br />TrUlJtor, ..Ill ..1.thout 1'("lard to the value of the trUllt e.t.te ot' the tntC!!t'eBt of the Tru.tor thereln,
<br />.hall haft the I'llht to apply to IIIlY r..ourt hnlna Jurisdiction to appoint a receiver of the property.
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<br />9. tn,p.ctlon.. "neHclary, or it. alent I i- re-prellll!'ntattv.!'I or vorJr..en. are autllorhed to entltr
<br />at ..y .....,oneb1. tl_ upon 01' 1n my rart of the property for the purpolle of inspectlnl the 8..e and
<br />101' t.... pur'PO.. or pnfonalna any of the actll it h Authorhl!'d 1:0 perfo", undflr the tllrr.. of any loan
<br />l...tr..-nt. .,.ecut.d "1 Trusler.
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<br />10. Tran.r.r or rroperty. If .11 or any pert of the- p['operty or .ny lntereal of Trufltor therein
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