|
<br />88-
<br />
<br />104'276
<br />
<br />CONT5 :d
<br />
<br />DEED OF TRUST
<br />
<br />"Thie Jleed of Truet 18 ....de thie 27th dey of Jul~ ' 19 88 , by and lIllIong David L. Goosic
<br />and Kathleen Ann GcMJsic~ As JOIi'il:Tenants W1 n Wtll.X:i ,hereinafter referred to ae "Truetor,"
<br />whoee l18i11n8 addreee ie<l'l::J N. St. Patr1ck. Grand Island. NE 68803: Aran~. ~~k ,
<br />Attorney at Law, hereinafter referred to as "Trustee," whose mailing address Is P. . ~ Grand
<br />Island. NE 68802 ; and THE OVERLAND NATIOIlAL BAlIK OF GRAND ISJ.AIlD, hereinafter referred to ae
<br />"Beneficiary," whaae IlAiling addrees 18 P. O. Box 1688, Grand leland, Nebraeka 688D2.
<br />
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and all81p8 to Trustee, in
<br />trUllt, with povtlr of ..le, for the benefit and eecur-ity of Beneficiary, under and Gubject to the terwa and
<br />conditione of rhie Deed of Trust, the following-daectibed property, located in Hall County,
<br />Nebraeka, to-wit:
<br />
<br />Lot Five (5). Block One (1), Dickev Third Subdivision. an Addition
<br />
<br />to the Citv of Grand Island. Hall Countv. Nebraska
<br />
<br />together with all buildings, improvements, fixtures, streets,. alleys, pBl!Il!IlIgevaYlI, e.sement.., rights, privi-
<br />leges and appurtenances located thereon or in any way pertaining thereto. and the rentl. issues. profita,
<br />revereione and the remainders thereof, including all euch personal property that 18 attached to the illProve-
<br />.entll 110 all to constitute a fixture. all of which. including replacementl!l and additlonD thereto. are hereby
<br />declared to be a part of the real eetate conveyed in trust hereby, it being agreed that all of the fore-
<br />going ahall be herein.ft~r referred to ae the "Property. 11
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(s) the payment of indebtedness evidenced by Trustor' s note of even date herewith in
<br />the principal SUlI of Eighteen thousand an4 no/100--($ 18,000.00 ), together
<br />with interest at the rate or rates provided therein, or t he principal and interest on any
<br />futurli!l advance not to exceed the total principal sum initially secured hereby as evidenced
<br />by promis8ory notes stating they are secured hereby, and any and all renewals, modifications
<br />and extensions of such note., both principal and interest on the notes being payable in
<br />accordance with the terma aet forth therein, which by this reference i8 hereby made a part
<br />hereof;
<br />
<br />(b) the performance of each agreement and covenant of Trustor herein contained; Bnd
<br />
<br />(c) the payment of any SUDI or sums of money which may be hereafter paid or Ildvanced
<br />by Beneficiary under the terms of thie Ueed of Trust. together with interest thereon at the
<br />rate provided in the note.
<br />
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows:
<br />
<br />1. Payment. of Indebtedness. To pay when due, the principal of, and the interest on, the indebted-
<br />net!ls evidenced by the note, charges. fees and all ather BUIlB as provided in the loan instruments.
<br />
<br />2. Title. Trustor Is the owner of the property and has the right and authority to execute this
<br />Deed of Trust in respect to the property.
<br />
<br />3. Taxes Ilnd Assessments. To pay, when due, all taxes, special assesments and all other
<br />against the property, before the amne become delinquent, and, In the event Beneficillry shall so
<br />to add to the payments required under the note secured hereby, such lUIOunt .s ..y be sufficient
<br />able Beneficiary to pay euch taxea, a..e.....enU or other chargee ae they bec"",," due.
<br />
<br />4. Insurance. To keep the improvements now or hereafter located on the real e.tate described
<br />herein ineured again.t damage by fire and ouch other hazard. ae Beneficiary may require, in amoWlte and
<br />ccwpaniea acceptable to Beneficiary, and with loae payable to Beneficiary. In caee of loaa under euch
<br />policiea. Beneficiary 18 authorized to adjuet, collect and comprOll18e, in ite d18cretion, all c1aima
<br />thereunder and, at its sole option, is authorized to either apply the proceeds to the restoration of the
<br />property or upon the indebtedness secured hereby, but payments required by the note shall continue until
<br />the e.... eecured hereby are paid In full.
<br />
<br />5. Repair, Maintenance and Cae. To promptly repair, restore or rebuild any buildings or improve-
<br />.entD now or herClafter on bhe property. to keep the property in good condition and repair, without waste
<br />and fret: frOll 1IechanicII or other liens not expressly subordinated to the lien hereof; to not 1Ilake, suffer
<br />or pemit Bny nuisance to exist nor to diminilh or impair the value of the property by any act or oaia.lon
<br />to act; and to cOlllply.with all requirellenta of law with respect to the property.
<br />
<br />6. COndeunation. In the event the property. or any part thereof, shall be taken by eminent dOMain,
<br />Beneficiary 1e entitled to collect and rece1ve all cOllpensation which I!ISY be paid for any property taun
<br />or for dall8gee to property not taken, and Beneficiary ehall apply euch compeneation, et iu option,
<br />either to . reduction of the lndebtedne.. secured hereby or to repair and rl!latore the property 80 taken.
<br />
<br />7. Perforaanc:e by Beneficiary. Beneficiary ...y, but shall have no obligation to, do any act which
<br />Trulltor has agreed but railed to do, and Beneficiary may slso do Bny act it deeas necess.ry to protect
<br />the lien hereof. Trustor agrees to repay, upon demBnd, any sums so expended by Beneficiary for the
<br />above purp08ea, and any e_ eo expend..d by Beneficiary ehall b.. added to th.. indebtedneea eecured here-
<br />by and becOlle eecured by the Uen heraof. Beneficiery ehall not incur any p..raonal Uability bacause of
<br />8D7thing it _y do or moit to do hereunder.
<br />
<br />8. Aasiitl\ments of Rents. Beneficiary shall have the right, power and authority during the con-
<br />t1numce of this Deed of Trust to collect the rents, issues and profits of the property and of any per-
<br />sonal property located thereon with or without tllking pOllllel!lslon of the properly affected hereby, Ilnd
<br />Trustor hereby absolutely and unconditianally assigns all such rents, issues and profits to Beneficiary.
<br />leneftei.ry, however,. hereby consenta to Trustor's collection and retention of such renta, iallue. and
<br />profits at; they accrue and become payable, 80 long a.. Trustor is not, at such time, in default vith re-
<br />.pe:et to payJlent of any indebtedne.. secured hereby, or in the perform.ance of any agreement herelmder.
<br />If any event of default described hereafter in respect to this Deed of Trust sball have occurred .nd be
<br />cdfttiauinl, Beneficiary, as a IUtter of right and without notice to Trustor or anyone claiming under
<br />Trustor, ad without regard to the value of the trust estate or the interest of the Truator therein,
<br />ehall have the rillht to apply to any court having juriediction to appoint. recdvar of the propsrty.
<br />
<br />9. Inspections. Beneficiary, or Its agents, representatives or workmen, are authorlz:ed to enter
<br />at any reasonable tt..: upon or in any part of the property for the purpose of inspecting the same and
<br />for the put'po8e of perforaing any of the scts it Is '1uthorized to perform under tbe terms of ony loan
<br />irUltruaents executed by Trustor.
<br />
<br />10. Tranefer of Property.
<br />
<br />charges
<br />require,
<br />to en-
<br />
<br />If all or any pUTt of the property or any interest of Trul!ltor therein
<br />
<br />-1-
<br />
|