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<br />88- 104595
<br />DEED OF TRUST
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<br />HIJ"IIl,lfl <lJHI Ftd\un I!. WuU W.ll1011 Nl! 68461
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<br />Ill,:;
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<br />THIS DEED OF TRUST. is made as of the ~ day of Au~ust ]9.B.8-. by and among
<br />Ross A. Racek and Cheryl L. Racek, ("Trustor"). whose mailing address is
<br />3207 West 16th Street, Grand Island,Nebraska 68801,
<br />Rodney A. Johnson, Attorney at Law, ("Trust",,"), whose mailing address is
<br />631 Catalpa, North Bend, Nebraska 68649
<br />and Alice L. Sellhorn,
<br />c/o Birchwood Manor, North Bend, Nebraska 68649.
<br />FOR VALUABLE CONSIDERATION. Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE. for the benefit and security of Beneficiary, under and subject to the tenus
<br />and conditions of this Deed of Trust, the real properly locnlPd in the City of Grand Island County of
<br />Ha] ] St.ate of Nebraska. and legally described as follows (the "Property"):
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<br />Lot Four (4) Island Acres No.6 a Replat of Lots Nineteen (19) and Twenty (20),
<br />Island Acres, City of Grand Island, Hall County, Nebraska.
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<br />("Beneficiary") whose mailing address is
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<br />TOGETHER WITH. all rents, easements, appurtenances. hereditaments. interests in adjoining roads,
<br />streets and alleys. improvements and buildings of any kind situatt-d thereon und all personal property that may
<br />be or hereafter become nn integral port of Buch buildings and improvements. all crops rmsed thereon, and all
<br />water rights.
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<br />The Property and the entire est.a!>> and interest mnwYI'li \0 lh,' Truswt' art' rt'ferred to collectively as the
<br />"Trust Estate"_
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<br />FOR THE PURPOSE OF SE(TR[N(~:
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<br />a Paynwnt of indebtness in the total prinL-ipalamounl 0 of $ 50.000.00 _____ ,with in!>>rest
<br />thereon. as evidenced by that certain promissory nok of ,'vel1 date (the ";'ote") with a maturity date of
<br />August 15. 2018 ,executed by Truslor, which hOo" ht'en deliven'li and is payable to the order of
<br />Beneficiary. and which by this reference is herehy made a purl hen..f. and any and all modifications, elden-
<br />sions and renewals thereof, and
<br />b, Paymenl of all sums advanced by Beneficiary tu protect th,. Tru~1 E~lnl... y,-ith interest thereon at thera!>>
<br />of nine percent (~%) per annum
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<br />This Deed ofTru8t, the Note. and any other instrument J.,~vt~n tu <<',,-idl'nee or furt.heTHL~re the payment and
<br />perfonnance of any obligation sBCtITeCi hereby are refprn~ to t'fllll'(1.ivl'ly liB th(' "Loan Instruments".
<br />TO PROTECT THE SECURffY uF THIS DEED OF TRUST:
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<br />1. PAYMENT OF INDEBTEDNESS. TrUf.i1.flr JoOhall Jla~ Whl'T1 dlH' till" pnnnpuJ of, and tot' intRrcst on, the
<br />indebtedneHN e\'idel1l~.d by tht. Nott~. ChU~l~N. fl~t'H and uJl ollwr SUTTl" Itl' prOVIded In lh~ Luun lntltrumcnts.
<br />2. TA.XES. TruNtur Hhall pay each InHtullm('nt uf nIl tUXt>toi .iltld "'}Il'l"l "ISl'lt'Sl'lmt'nL<l. 'If t.'\'f.'ry kind. nllW or hereafter
<br />levied against th(. Trust Estate or any part tht'TNlf. ht'fUff- c!t'!lnqul'nl'Y, Wll hllut notic'" or dt'mnnd. and shAll provide
<br />Beneficiary with l.\ridence oftbe payment uf sum<<' TrUEilllr ",hull puy lllll UXI':' lInd aH~t.'HHmtmtJ;; which may be,levied
<br />upon Beneficiary's interest herein or upon this DN.d ofTru!'1 "r t ht' dt.ht t"1,c'Uft.d ht'rf>hy. without "~lZurd to any law that
<br />may IwenactE>d imposing payment uf thf' wholt' Of any pllr1 lhl'n'llf upun tl1l' Bt'of'fkiary
<br />:\. INSURANCE AND REPAIRS. Trut-llor Rb.ull JUuinllltn fm.und nnt f'xtendt>d l'fwerng-f'insuranceinsurinll'the
<br />Im}Jrnvl~mt'nt.H and buiJdinR:B contotitutin~ part uf thl' Tru~t E.-tall- for an umnunt nu le~K than the amount of the
<br />unpaid prim'jpul balance of the Note (CO-lOBurUn€."'" not l!'U'I>f'd, nf.,l: 1"00'1\ pt'rm ~tu.d, Such msurant:e PIJ1icy shall contain
<br />fI standard moT'tJtagt' cluuse in fa,,'or uf Beneficiary and Nhu.11 not ill' C"um'dlublt',u!rminahl(' or modifiablewitboutten
<br />t lU) days prinT written notice to Beneficiary. Trufitnr ..hall pn1mptl).' repair. maintain and replace the Trust E8tnteor
<br />un,v purt tht!reof NO that, except for urdinar:!t' wenr und tear, th,' Trufit Etitul,t'NhaJl not deteriorute. In naevenlshall the
<br />Trustor commit .....aHte on or to the Trust Estalt'.
<br />4_ ACTIONS AFFECTING TRUST ESTATE Trusto, .hull appeur on und ,"onteHt Bn~' Bellon or proceeding
<br />purporting to affect the security hereof or the ri~hts ur puwell' uf Rcncficiltr)' liT Trustf*. and shaH pay all costs and
<br />expensC8. including cost of evidence of title and attorney's fees, in uny Nuch ue'tiull Of pruceedin~ in which Beneficiary
<br />ur Trustee may appear. Should Trustor fail to make uny puymf'nt or tll du any liet as and in the manner provided in
<br />an~' of the Loan ]nstruments, Beneficiary andlor Trustee, each 10 its uwn dJ8l"reLion. without ohliJtation 50 to do nnd
<br />without notice to or demand upon Trustor and without releasing Trustor frum any obligation, may make OT do the
<br />same in such manner Bnd to such extent af; either may deem n(lceSR8r)' to protf'{..t the He('urit~' hereof. Trustor shall.
<br />immediately upon demand therefor by Beneficiary. pay all costE; and expenses incurred by Beneficiary in connectior.
<br />with the exercise by beneficiary of the foregoing rifithts, includin" WIthout limitation costs of evidence of title, court
<br />costs, appraisals, surveys and attorney's fees, Any such costs and expenses not paid within ten (10) days of written
<br />demand shall draw interest at the default rate provided in thl' Nol('
<br />5. EMINENT DOMAIN, Should the TruRt Estat.e. or Hny purt thcrt~'(lf l,r int,l'n.:.;t therein. be taken or damuJted hy
<br />reason of any public improvement or condemnation prucet.-d.mg, or in any uther munner induding deed in lieu of Condem.
<br />nation ("Condemnation~'. or should Trustor reci\'e any nuti(.'e or other information regarding such proceedin~. Trumor shall
<br />Rive prompt written notice theroofto Beneficiary. Beneficiary shall be entitled to all compemmtion, awards and uther p330'.
<br />menta or rclieftherefor~ and shall be entitled at its {}ption to commence" appear in and prusecute in its tJ'\\ll nntne any action
<br />or proceedings... Benefici.aJ:\.' shall also be entitled 10 make any compromise or settlement in ronneetion with such taking or
<br />damage. All such compenantion. awards. damages. rights of action and proceeds awarded to Trustor (the "ProcL.oeds"j are
<br />hereby 8.S8igned to Benefici.ar).. and TrUstor agrees to eu~te such further assil"TJlmcnt!l of Lhf' Prot.'tCdB as Beneficiary or
<br />Tru.stee may require.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. R('neficiun mnv, from timl' to hml:', h\' n \.\nlten instroml>nt
<br />exo:uted nnd acknowledged by Beneficinry, mailed rn Trustor find ~'Ordt*d in tht' ("nunt)' to which thl' Tru..t Etrtnk' i~
<br />located and by otherYoiseromplying with the provisions ofthe npplir-Ilhlf'lnw nfthf' Stult' nfNf'hrnilknHuhrotltut.r'n NU("("('S!Oi:1T
<br />tlr "iUc:ce5fUJrB to the Trustee namoo herein or Rcti~ hermmdl'r
<br />7 SUCCEs..c;oRS AND ASSIGNS. This Dt.l(.>d uf 1'rusl .llpplit'S tu, muret; In tIlt' t'l'nefit vf and bmdlO aU partJE't" h('r\~H,
<br />thru hcirH. lejit'Utecs.., de,,-icot.'s. pcTsonal Te~ntntivl'8. NU('C'-.'SHflrfl and UAAIJ!ntoi, Thl' t.l.'nn "'Jit.nt'firlaT:,\'" tlhall mt..(Ul tht.
<br />ownt.'r and hc,lder of the NolL', wh(.ther (IT nut nnme>d RIO Hl'rwfiC'ia~ hf'rf'in
<br />Poi INSj'EC110N8, Bt'neficinry, ur IUt "Kcnts. Ti'Jl~L'111.ut.l'lo't~ lIT wnrkrr...n. /Ln' uUIJ}.,nl.l"i Ip "IlIA-! tit illl\ n.lt~lItll-lhlt,
<br />1..lnU' Ufltll1 or In Bny part ofthl.' TruH. Estntt. fllr the purpo~' H( lnNlll:""'l1,1tlt.: 1.110" ....un.. IInd f,," dw l'urp",.... "f I- r..f"nllm~ ,\II \ "I
<br />lht. nctH It I,. nuthurind. In oerform 1mGr:r the tmruI of any uf tht" J .unn I nstrum..nLot
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