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<br />88-
<br />
<br />104005
<br />
<br />DEED OF TRUST
<br />(Open End S~ngle Note)
<br />
<br />This Deed of Trust is made this 21 day of July
<br />19 ~~ by and among DRACO INC., a corp~n
<br />, , here~nafter referred It~ Jis
<br />"Trustor, " whose ma~l~ng address is P. O. Box 574, Grand s an
<br />Nebraska, 68802 ; HrerlO H. tlaaCk
<br />Attorney at Law, here~njlfter referred to as "Trustee, "whose
<br />mailing a<idress is P. O. Box 790, Grand Island, NE 68B02
<br />and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND,
<br />hereinafter referred to as "Beneficiary," whose mailing address
<br />is P. O. Box 1009, Grand Island, Nebraska 68802.
<br />
<br />For valuable consideration, Trustor irrevocably grants,
<br />transfers, conveys and assigns to Trustee, in trust, with power
<br />of sale, for the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Deed of Trust, the
<br />fOllowing-described property, located in Hall County,
<br />Nebraska, to-wit:
<br />
<br />Lots One (1), Two (2), and Three (3), Block Forty (40)
<br />and the West half of vacated Wheeler Avenue South of
<br />4th Street, original town of Grand Island. Nebraska
<br />and storage building and Facility situated on the union
<br />PaciFic railroad right-oF-way property.
<br />
<br />together with all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and appurte-
<br />nances located thereon or in any way pertaining thereto, and the
<br />rents, issues, profits, reversions and the remainders thereof,
<br />inClUding all such personal property that is attached to the
<br />improvements so as to constitute a fixture, all of WhiCh,
<br />including replacements and additions thereto, are hereby declared
<br />to be a part of the real estate conveyed in trust hereby, it
<br />being agreed that all of the foregoing shall be hereinafter
<br />referred to as the "Property."
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(al the payment of personal indebtedness owing
<br />from Trustor to Beneficiary, as evidenced by a
<br />Promissory Note of even date herewith in the original
<br />principal amount of Twenty-Two thousand and no/100-
<br />----------------------------------------------- ($22.000.00 ):
<br />
<br />fb) the payment of interest at the rate or rates
<br />provided in the afore-described note and the payment of
<br />both principal and interest on any and all renewals,
<br />IIIOdif1cations and extensions of such notes:
<br />
<br />fc) the payment of principal and interest on any
<br />future advance as may be evidenced by promissory notes
<br />stating they are secured by this Deed of Trust: provided,
<br />however, that the total principal indebtedness, not
<br />including SWIIl!l advanced to protect the securi ty or
<br />interest accrued, shall not exceed the sum of To.. n>
<br />Two Thousand and no/lOO----_____________________ ($ 22,OO~.OO ):
<br />
<br />fd) the performance of each agreement and
<br />covenant of Trustor herein contained; and
<br />
<br />(e) the payment of any sum or sums of money which
<br />may be hereafter paid or advanced by Beneficiary under
<br />
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