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<br />104427
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<br />10.5
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<br />Hullman anll Fellon & Woll. Waltan. Ne_ 66461
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<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST, is made as of the 27th day of July 19~ by and among
<br />Jeffrey L, Bonner and Susan R. Bonner ("Trustor"), whose mailing address is
<br />5910 Topview Ct" Colorado Springs, Co. 80918
<br />Public Trustee for Hall County ("Trustee"), whose mailing address is
<br />Grand Island, Ne. 68801 '
<br />and State Bank and Trus t of Colorado Springs ("Beneficiary") whose mailing address is
<br />III South Tejon, Colorado Springs, Co, 80903
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trostee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms
<br />and conditions of this Deed of Trust, the real property located in the City of Grand Island County of
<br />H~ 1 , State of Nebraska'pand leltally described 118 follows (the "Property''):
<br />Westwood arK, Lnd gubd1v-rSlon, ~t ~rr
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />be or hereafter oe<.'Ome an inlAlgn<l pW't ur such buildings and improvemoma..., all crups raided thereon, and all
<br />water rights.
<br />
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust Estate".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a, Payment ofindebtne... in the total principal amount of$2...5llQ.....QQwith interest thereon, as evidenced by
<br />that certain promissory note of even date (the "Note") with a maturity date of Jul v 20.1989 executed
<br />by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is
<br />hereby made a part hereof, and any and all modifications, extensions and renewals thereof, and
<br />b. Payment uf all sums advanc.,d by I:leneliciary to protect the Trust Estate, with interellt thereon at the
<br />rate of.!l.:2... percent ( 12. :m.) per annum,
<br />
<br />This Dced of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />perfonnance or any obligation secured hereby are referred to collectively as the "Loan Instruments".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />
<br />1. PAYMENT OF INDEBTEDNESS. Trustor ahall pay when due the principal of, and the inurest on, the
<br />indebtedness evidenced by the Note, chargee, feea and all other sume as provided in the Loan Instruments.
<br />
<br />2. TAXES. Truswrshall pay each installment or all taxes and special a..e..ments of every kind, now or hereafter
<br />levied aguinst the Trust Estate or any part thereof, before delinquency. without notice or demond, and shall provide
<br />Beneficiary with evidence oCthe payment of some. Trustor shall pay all taxes and assessments which may be levied
<br />upon Beneficiary's intereat herein or upon this Deed ofTruul or the dcbtaccured hereby, without rellDrd 1.0 any low thul
<br />mllY be enacted impo.ing payment of the whole or any part thereof upon the Beneficiary.
<br />
<br />3. INSUI~ANCE AND REPAIRS. Trustor shall maintain fire and not extended coverage insurance insuring the
<br />improvements and buildinga constituting part of the Trust Estate for an amount no leas thBn the amount 0' the
<br />unpaid principal balance or the Note (co-insarance not exceeding 80% permitted). Such insurance policy shall contain
<br />a standard mortgage clause in fBvor of Beneficiary and shall not be cancellable, terminable or modifiable without ten
<br />(10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Eetsteor
<br />any part thereofso that, except for ordinary wear and tear, the Trust Eatateahsll notdeteriorate. In noevent shall the
<br />Trustor commit waste on or to the Trust Estate.
<br />
<br />4. ACTIONS AFFECTING TRUST ESTATE. Truetor e.,all appear in and contest any action or proceeding
<br />,purporting w affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay 011 caets and
<br />ex.penses. including cost of evidence of title Bnd attorney's feea, in Bny 8uch action Dr proceeding in which Beneficiary
<br />or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided ir
<br />Bny of the Loan Intltrumentli, Beneficiary andlor TrUHteC. each in its own discretion. without obligation 80 to do and
<br />without notice to or demand upon Trustor and without releuing Trustor from any obligation. may make or do the
<br />same in such manner and to such extent 6S either may deem necessary to protect the security hereof. Trustor shall,
<br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection
<br />with the exercisu by beneficiary of the foregoing rights. including without. limitation COltJf of evidence of title, court
<br />costs, appraisals, tiurveys and attorney's fees. Any such costa and expenses not paid within ten (10) days of written
<br />demand shall draw interest at the default rate provided in the Note.
<br />
<br />li. EMINENT DOMAIN. Should the Trust Eota..., or any part thereof or intereBt therein, be taken or damaged by
<br />reason of any public improvement or condemnation proceeding, or in any other manner including deed in liea of Condem,
<br />nation ("CoIUlemnation"), or should Truswr n,cive ooy notice or otherinfonnation reganling such proceeding. Truswr shull
<br />Ilive prompt wriUen notice thereof to Beneficiary. Beneficiary ehull be entitled to all compensation, awards and other pay.
<br />mento or roliel therefor', and tihull 00 cl1titJetl.u.t its uptiLo:1 to commtnct:. uppC:W' in und prooecute in ita own name LUly action
<br />or proceedingB. Beneficiary shall also be entitled W make any compromiee or settlement in connection with sach taking or
<br />damage. All such compensation, awards, damages, righIB of action and proceeds awarded w Trustor (the "Proceed.") are
<br />hereby llIlIIigned to Beneficiary and Trustor agrees w execute such further assignmenIB of the Proceeds as Beneficiary or
<br />Trustee may require.
<br />
<br />6, APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time w time, by a written instrument
<br />exeeuted and 81!knowledlled by Beneficiary, mailed w Truswr and Recorded in the County in which the Trust Estate ie
<br />located and by otherwise complyins with the provisions of the Ilpplicabl.law of the State ofNebraaknsubstitute a 9ueceS80r
<br />or succeeeors to the Trustee named herein or acting hereunder,
<br />7. SUCCESSORS AND ASSIGNS. This Deed afTruet applies to, inures w the benefit of and binds ull partiee hereto,
<br />their heirs, legatees, devieees, personal representativee, su",eeeors ood aeeigns. The term "Beneficiary" shall mean the
<br />owner and~ holder of the Note, whether or not named BS Beneficiary herein.
<br />
<br />, 8. INSPECTIONS. Beneficiary, or iIB agenIB, representatives or workmen, are authorized w enter at any reasonable
<br />time upon or in any part of the Trust Estate for the purpose ofin.pecting the same and for the purpooe of performing ooy of
<br />the aclB it i. aathorized w perform under the terms of any of the Loan InstrumenIB.
<br />
<br />9. EV~:NTS OF DEFAULT. An)' of the following evenIB shall be deemed an evenl uf default hereander.
<br />(u) Truttt.ur shall hove foillad to make payment uf any inswllmenL ofmLcrctlt.,. principal, ur principalund interesL or llny
<br />uth...r Kum HOCUred hereby when due; or
<br />(b) There hUH uccUfn-d u breach uf ur default under any Lenn, <...'Ovenant, agreement, condition, provision, repreHentaLiun
<br />or wllfTunty contained in any uf the Loun InslTumenlE.
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