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<br />DEED OF TRUST
<br />
<br />CONT~'" d
<br />,I
<br />88-105077
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<br />Thh need of TTullt h ..de thill 19th d.y of Seotember I 19-BB-. by .nd DonB Arthur L.
<br />Buchholz and Alel va G. !m~hlli2ii~~~~3n~ Y~~a ' hereineHer rd.rrod '0 ee "Tru.to.."
<br />.mo.. adUnl addre.. (a 4: 1 F1 r NF.:; Arend. an ,
<br />Attame, .t Ln. herehafter referred to II' Tru.tee. r wo.e _dllns addu.. 18 ~. 8. ~x 100
<br />Grand Island. NE 68802 . Bd THE OY!RLAHD NATlDHAL BANK. OF GRAND ISLAND, heuinafur refened to ..
<br />llBeneficiary,1I whOIl. .al11nl addreBB III r. O. Box 1688, Grand bhnd. Nebnllk8 68802.
<br />For ....lu.ble conllleleratlon, Trulltor irrevoc.bly RrllnU. unlfeu, convey II and .nipll to Trultee, In
<br />tr~t, with pOWI' of .ale, for the benefit and lecurltJ' of lenefic:tlry. under and aubject to the te~ and
<br />condltiOlla of thb need of Trust, the tollowlng-d.lcdbed pl'Opllrty. located In Hall County,
<br />Nebrub. to-vit t
<br />The Nortberlv Sixtv-Five and Onf'-Half (n~) f""" nf
<br />Lot Ten (10), Bloek Fifteen (15), in H, G. Clark's
<br />Addition to the City of Grand Island, Hall Countv,
<br />NehrR~k~ ~
<br />
<br />toaether with IU buildlngll, itlprovelle"to. fixtures, IItreetll, alleys, pIIIII..gl!!wayll. e.llet'1lentll, rights, prlvi-
<br />bla. and .ppurteaanc.. located then an or 10 any vay pertaining thereto, and the rent., blueS, profits,
<br />nv.r.tDft. and the reaalnders thereof, Includtns aU auch penonal property that 18 attached to the 1nrprove-
<br />...t. aD .. to con.titute a fixture. all of which. Inc:ludtnl replacement. .nd addition. thereto. ara hareby
<br />d.clared to be I part of the real eauu connyed In trUBt hft'eby, it beins .greed that .11 of the fore-
<br />lobi ahllll ba hareln.ftl!lr referred to lI.a the "Property. II
<br />
<br />'Olt Tn! PURPOSE O' SECURING:
<br />
<br />(a) the paym!!nt of lndebtednel!!ls evidenced by Trulltor III note of even date herewith in
<br />,he p.lnclpe! .... of Twenty-Five Thousand & No/I00-{$ 25,000.00 ), to..th..
<br />with lntereat at the rate or ratell provided therein. or the principal IInd intere.t on any
<br />future advance not to clCCI!ed thl!! total principal 8UJ1l, init....lly secured hereby 88 evldencl!!d
<br />by prCRaI..ory note8 atatlng they are lie cured her~y. and any ond all renewlIl., IftOdificatiollll
<br />and eztendonl of aucl1 notea. both principal and interest on the notea bdng payable In
<br />accordance with the tenul eet forth thenln. which by thill rehrence la hereby ...de . part
<br />hereof:
<br />
<br />(b) the perfonaance of each agreement and CDVf!nant of Tru"tor herein contained I l!Ind
<br />
<br />(cl the pllyment of any 1IUD1 or I!lUlDS of IllODI!!Y 'Which may be henafter paId or advanced
<br />by BeDeficuq under the terms of thla Deed of Truat, togethllr with intereat thereon at thll
<br />r.te provided in the note.
<br />
<br />To protect the security of this Deed of Trust, Trustor hereby covensntll and aHrlllla .11 follows:
<br />
<br />I. P..,...,.t of lndebtednl!!lI5. to pay when due, the principal of, and the lntereat on, the Indebted-
<br />Deal evidenced. by the notet charses, feell and .11 other IIU1lS al provided In the loan lnlltru_entll.
<br />
<br />2. Title. Tru.tor 111 the O\Ifter of the property IIInd h.. the rtlht and authority to I!IlUlcute thb
<br />Deed of ,.ru;tin reapec.t to thll propl!rty.
<br />
<br />3~ Taxe. and Aallelllllllllnta. To PlY, ..men dUll, an tlllCeli, speci.l ...e......nts .nd aU othl!lr charg.e
<br />asatnat the propertYt before the l1li_ bllco.e delinqllent, .nd. in the Ilvent BeneflcJary sh.U 1110 requln,
<br />to add to thll pl~nta requl TIId under the note lIecured hereby, such aUlOUftt III ..y b. lIufflcle:nt to en-
<br />able Pteneflct.ry to p.y euch t.z.a, a.nall.eats or other chargea 1111 they beco.. due.
<br />
<br />4. ~. To keep the I_prove_ntl now nr hereafter located on the real eatete dllllcrlbed
<br />here1A inlured egaln8t d...al by flre .nd lIuch other huard. a. Beneficiary MY require. in amount II and
<br />cc*pantea accept.ble to Blmeffclary, and with Iou p.yable to Beneficiary. In case of 10811 under lIueh
<br />poltcie., Beneficiary" aulhorhlld to adJuat, collect and c01llprOlllae. in ita diacretion. .11 clew
<br />thereundar and, at Its sole option, 1" authorhed to either apply the proceeds to the restoration of the
<br />property or upon tha 1odebtedne.. lecund hereby, but plyments required by the note ehall continue UDtll
<br />the a.. ..cund hereby IIrll paU In full.
<br />
<br />S. ReII.tr, Kalntl!!nance and U... To prOlaptly repair, restore or rebuild any buildlnga or i'llprove-
<br />Ilent. now or hen.fter on the property; to keap the property In good condition and nplllr, without ve.te
<br />and free frOll .chanlca or othllr lIena not 8qtu.a11 subordinated to the lien he.reof; to not uke, lIufhr
<br />or pera1t .ny nutlance to ezht nor to dt..inlah or lap.lr the value of the property by any act or oat..ion
<br />ta .ct: ed to eOllply,wlth aU uquire_nu of l.w with TI!llpect to tbe propllrty.
<br />
<br />6. Cond~ation~ In the ew:nt the property, or any pllrt thereof, shall be tabn by alnent douin.
<br />Beneficiary is IIIltitled to collect and rece"e all cOlfJlensatlon "'" lch uy be paid fc.r any property takell
<br />or" for d__lea to propertY' not taken, and lendldar)' lih.ll apply Buch cOClpenlSlltion, at it. option,
<br />either to . reduction of the lndebtednella aecured hereby or to repair and relit ore the property ao t.ken.
<br />
<br />7. Pe.rforaGce by Beneficiary. Beneficiary ..y, but ahall have no obUgation to. do any &ct which
<br />Troator haa alreed but failed to do. .nd Beneficl.ry ..y alllo do any act it de__ necesa.ry to protect
<br />the lien. hereof. Tru.tor .Inea to rep.y, upon de.and, any BUII8 110 expended b,Beneflciary for the
<br />.bave purpaUII. and any .11. 10 explInded by Beneficiary .hall b. .dded to the Indebtedne.. I!lecured here-
<br />by .n4 bec~ secured by the Uen hereof. Beneficiary ,hall not incur .ny penonal U.bility beeause of
<br />.,thlaB it .., do or ....t to do hel'llwulu I
<br />
<br />III. Aa:alKftlMllta of AenU. BeneUclary .haU have the right, pover .nd authority dudng the con-
<br />tlnuatea af thl. Deed of Truat to collect thl rent.t i..uea and profits of the property and of any per-
<br />aanal proparty Ioeated theraon vith or without t.kina po..e.aion of the propert, affected hereby, and
<br />Tnllitor hereby ablolutel, and lmconditlonaU7 a.alan_ all lIuch rentfl, taauea and proflta to Beneficiary.
<br />....fieury, howenr, hereby conaent. to Trustor'. collection and rlltention of such rentll, l..ue. and
<br />proflte .. th., accrue and baCMlll payablet 110 lonl aa Tru.tor tl not. at auch ti... tn default vtth re-
<br />.peet ta pa~t of an, lndebtedn... a.cured herllb" at' in the performance of .ny asnaaent heremder.
<br />11 .., ...nt af dafault d..cribed hen.fter in "Ipect to thlB Deed of Truat llhall have occurred IIIId b.
<br />coati_tn.t BaD.fieury, a. . aaUer of rlpt and without notlell to Trustor or anyone clal.tng mdar
<br />Truator. _d without relard ta the v.lue of the truat e.t.te or the lnurelt of the Trustor therein,
<br />ahall he.. t" rllht to apply to any court h.vinl jurladlctton to .ppolnt . race IvaI' of the property.
<br />
<br />9. la.paetlon.. lenaUct,ry. or it. a..nts. representBtlves or woru.en, .re authorhed to enter
<br />at ., namabb tl_ upon or In any pnt of the property for the ('Iurposl! of In.pectins the saae and
<br />for tM purpo5tl af perfanlln. any of the acta it h authar1r.ed to perfo~ under the ter'U of any loan
<br />i_t...-u encuted b,. Trustor ~
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<br />10. Ir..afer of Property. If _U or any part of the proJ.erty 01' .n,. lnt.re.t of Tru.tol' thllreln
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