|
<br />88- 105675
<br />
<br />CONT~I Ie (
<br />
<br />OEEIl OP TRUST
<br />(Oren F.nd StnRln Nota)
<br />
<br />Thh Dead of TrulH hi IMdo thin 20thdny of October 198~. by and Bmon~.JIer L.
<br />Wi.lliruns llIld Gernl 1 urns Husband and Wife . hereinafter rl.'forTcd to 8R "TrUlltor,"
<br />vlluse maf.llnR IIddn'l9l1 is ~ AARt't, ; Arend R. Baack
<br />Attorney at Lau. hc.rolnllftcr referred to 88 'TruBteo," VhOBO tDo1L1nR nddrc88 to P. O. Box 790. Grand IsIlJl1g ~
<br />aud THE OVERLAND NATIONAL BANK OF GRAND I SLA.'m , heroinafter rBferrcd to DB "Bencftcinry," WhOBO Ill4Uing addroDtI as
<br />h 1'. O. 80x 1688. Grnnd Island. Nebraska 68802.
<br />
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys nnd Dosigns to Trustee, in truot,
<br />:~t ~h~:W~:e~i o~D~;~8 :~r t~:e f:~~:~i~g a~:B~;~~:~t~r::e~;;:f ~~~:~~d ~der D~~bj ect t~o~~~y ~e::r::~ ~o~:~~~~~s
<br />
<br />wt 22 and the East One-Half of wt 23 (E~ of 23) Roush's Pleasantvi lle
<br />Terrace in the City of Grand Island. Hall Countv, Nebraska.
<br />
<br />together vith 1111 buildings. improvements. fixtures I streets I alleys. passageways. easements I rights I privileges
<br />and appurtenances located thereon or 1n any way pertaining thereto. and the rents. iSBues, profits. reversions
<br />and the remainders thereof. including all such personal property that is attached to the improvements so as to
<br />constitute a fixture, all of which, including replacements snd additiona thereto, arc hereby declared to be a
<br />part: of the real estate conveyed in trust hereby, it being agreed that D.11 of the foregoing shall be hereinafter
<br />referred to as the "Property."
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />by 3 ~:~l~~~r~a~~t o~f e~:~s~:~; ~:~:~~~~n~:s t:l~~i:~:l T;~~~:~p~~ ::~~;c~~rYFo~~i;~nced
<br />
<br />thousand five hundred and no/l00-------"("$ 14,500.00 );
<br />
<br />(b) the payment of interest at the rate or rates provided in the afore-described note
<br />and the payment of both principal and interest on any and all rcne\olals, modifications and
<br />extensions of such notes;
<br />
<br />(c) the paymf!nt of principal and interest on any future advance as may be evidenced
<br />by promissory notes stating they are secured by this Deed of Trust; provided, hO\olever.
<br />that the total principal indebtedness, not including sums advanced to protect the security
<br />or interest accrued, shall not exceed the sum of Fourteen thousand five hundred
<br />
<br />and 00/100----------------------- ($ 14.500.00 ),
<br />
<br />(d) the performance of each agreement and covenant of Trustor herein contained; and
<br />
<br />(e) the payment of any sum or sums of money \oIhich may be hereafter paid or advanced by
<br />Beneficiary under the terms of this Deed of Trust, together \oItth interest at the highest rnte
<br />provided in the notes secured hereby.
<br />
<br />To protect the security of this Dep-d of Trust. Trustor hereby covenants and agrees as follo\ols:
<br />
<br />1. Payment of Indebtedness. To pay when due. the principal of. and the interest on, the
<br />indebtedness evidcnced by the note. charges. fees and all other sums as provided in the loan instruments.
<br />
<br />2. Ill.!!:.. 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 and Assessments. To pay, when due, all taxes. special assessments and all other charges
<br />against the property. before the same become de l1nquent, and, in the event Beneficiary shall so require,
<br />to add to the payments required under the note secured hereby, such amount as may be sufficient to en-
<br />able Beneficiary to pay such tsxes, assessments Dr other charges as they become due.
<br />
<br />4. ~~. To keep the improvements now or he'l"eafter located on the real estate described
<br />herein insured against damage by fire and such other hazards as Beneficiary may require, in amounts
<br />and compnnies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss under
<br />such policies, Beneficiary is authori~ed to adjust, collect and compromise. in its discretion, all
<br />claims thereunder and. st it9 Bole option, Is authoriz.ed to either apply the proceeds to the restora-
<br />tion of the property or upon the indebtedness secured hereby, but payments required by the note shall
<br />continue until the sums secured hereby sre paid in full.
<br />
<br />5. Repair, Maintenance and Use. To prompt.ly repair, restore or rebuild any build:1ngs or improve-
<br />ments now or hereafter on the property; to keep the property in good condition and repair, without \oIa8t.e
<br />and free from mechanics or other liens not expressly subordinated to the lien hereof; to not make. suffcr
<br />or permit any nuisance to exist nor to diminish or impsir the value of the property by any act or omission
<br />to act; and to comply with all requirements of law with respect to the property.
<br />
<br />6. Condemnation. In the event the property, or any part thereof, shall be taken by eminent domain,
<br />Beneficiary 1s entit12d to collect and receive all compensation which may be paid for any property taken
<br />ot' for damages to property not ta;"en. and Beneficisry shall apply such compensation, at its option,
<br />e1ther to a reduction of the indebtedness secured hereby or to repair and restore the property 80 taken.
<br />
<br />7. PerCormance by Beneficiary. Beneficiary may. but shall have no obligation to. do any Bct which
<br />TrustoT has ag':eed but Called to do, and Beneficiary may alao do any act it deems necessary to protect
<br />the lien thereof. Trustor agrees to repay, upon denumd. any sums so expended by Beneficiary for the
<br />above purposes. and any SUlll 80 elq)endcd by Beneficiary shall be added to the indebt.edness secured hp-reby
<br />and heCOlle secured by the lien hereof. Benefic1ary shall not incur any personal liability because of
<br />snyt.hing it may do or omit to do hereunder.
<br />
<br />8. Inspections. ileneficiary, or its agents, representatives or workmen. are authorized to enter
<br />at IIDY reasonable time upon or in any part of the property for t.he purpose of inspecting the same nnd
<br />for the purpo.e of performing Bny of the acts it is authorh.ed to perform under the terms of any loan
<br />inlltnaents executed by Trustor.
<br />
<br />9. Aasip;nment of Rents. Beneficiary shall have t he right. flower and author it Y dur inR t he con-
<br />tinuance of this Deed of Trust to collect the rents. issues and profits of the pruperty ..md of any
<br />perllonal prop(Orty lo!:ated thereon vith or w-lthout taking pOl'lsession of the property affected hereby,
<br />and Trustor hereby ahliolute 1 yond une-ondi lionall 'f aBsiKUs all I'lllch rent s, IS/iueu and prof it B to
<br />Beneficiary. Benefic:lary. hO'llt'lver, hereby rOnllenta to Trustor's rolleo:t ion and retenl ion of lIuch
<br />rents. :l5l1uefl Ilnd profllll 48 they accrue ilnd become payabLe, 90 10nR B6 TruHtor 11'1 not, al tluch lime.
<br />in d~fautt vitll n~IJt'''l;t to pnr=o:ml uf lmy IndrblednraB Rccurcd herebY. l.r In tht. rerfl~rmunc'" nf illl~
<br />ARTil!III!t!Ent hr:r~und~r. tf any coy..nl "f d..f.H..lt d..H{"l'lbll'd heft-.altrT In r.."p.....t tll Iht1.l DI"'l\ of TruNt
<br />
<br />-I,
<br />
|