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<br />ClINTSI b
<br />
<br />miED OF TRUST
<br />(Open End Mu.ltlpla Note)
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<br />138l.0666B
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<br />G ThM. De~~:;'t~dtQii~~tou~~~:; N:e:er an 198...J!L. by ond omong
<br />hereinafter referred to os Trustor I whosll mailing address is ran s aniS., NE"" 68801
<br />Arend Baack , Atturn~ .at LaW', here n or referred to as
<br />"Trustee," whose mailing address Is .t'. U. .nox 790, urand Island. 68802 I
<br />4nd THE OVERLAND NATIONAL BANK OF l>RANJJ ISLAND, hereinafter referred to 88 hBeneficiary," "hos8 mailing
<br />address Is P. O. Box 1688. Grand Island, Nebraska 68802.
<br />For valuable consideration, Trustor irrevocably grants. transfers. conveys and Dssigns to Trustee.
<br />in trust. with power of sale, for the benefit and security of Beneficiary. under and subj ect to the
<br />terms and conditions of this Deed of Trust. the fallowing-described property, located 1n Hall
<br />County. Nebraska. to-vlt:
<br />lDt 2, in Block 1, in Fannington Second Subdivision.
<br />an additIon to the Citv of Grand Il'=:1l:mri, Hn'1 r.onnty,
<br />Nebraska.
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<br />together \o'1.th all build:lngs, improvements, fixtures, streets, alleys. passageways, easements. rights.
<br />privileges and appurtenances located thert:on or in any way pertaining thereto, and the rents. issues.
<br />profits. reversions and the remainders thereof, including all such personal prClperty that is attBched
<br />to the improvements so as to constitute a fixture. all of which, includ:lng replacements and additions
<br />thereto. are hereby declared to be a part of the real estate conveyed in trust hereby, it being agreed
<br />that all of the foregoing shall be hereinafter referred to as the "Property. II
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of personal indebtedness owing from Trustor to Beneficiary, as
<br />evidenced by Promissory Notes of various dates in the total present pr1.ncipa1 amount of
<br />($ );
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<br />(b) the payment of interest at the rate or rates provided in the afore-described notes and
<br />the payment of both principal .and interest on any and all renewals, modifications and extensions
<br />of such notes;
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<br />(c) the payment of principal and interest on any future advance as Ul8.y be evidenced by
<br />promissory notes statina they are secured by this Deed of Trust; provided. however. that the
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<br />~~~~~:~~~r~\~d:::=e:~~ :: ~Ct~:t~~d~~ t~ll~$rifo:OOO~OOest );
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<br />(d) the performance of each agreement and covenant of Trustor herein contained; and
<br />(e) the payment of any SUlD or sums of money which may be hereafter paid or advanced by
<br />Beneficiary under the terms of this Deed of Trust, together with interest at the highest
<br />rate provided in the notes secured hereby.
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows:
<br />1. Payment of Indebtedness. To pay when due, ~h~ principal of, and the intereet on, tbe in-
<br />debtedness evidenced by the note, charges, fees and B.L.l other sums as provided in the loan instru-
<br />ments .
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<br />2. Title. Trustor is tbe owner of the property and bas the right and authority to execute
<br />this Deed of Trust 1n respect to the property.
<br />3. Taxes and AssesS1lleD.ts. To pay, when due. all taxes, special sssessments and all other
<br />charges against tbe property. before the same become de1inquent, and, in tbe event Benefic.1ary
<br />shall 80 require, to add to the payments required mder the note secured hereby, such 8DlO\mt as
<br />may be suffIcient to enable Beneficiary to pay such taxes, 8saesS1llents or other charges aa they
<br />becQ1De due.
<br />4. Insurance. To keep tbe improvements now or hereafter located on the real estate
<br />described herein insured against damage by fire and such other hazards 8S Beneficiary Ul8.y require,
<br />1n Bm:nmts and companies acceptable to Beneficiary. and with loss payable to Beneficiary. In case
<br />of loss tD1der such policies. Beneficiary is authorized to adjust, collect and compromise, in its
<br />discretion. all claims theremuier and, at its sole option, is authorized to either apply the pro-
<br />ceeds to the restoration of the property or upon the indebtedness secured hereby. but pa}'DIIeD.ts
<br />required by the note shall continue until the SUID secured hereby are paid in full.
<br />5. Repair. Maintenance and Use. To promptly repair. restore or rebuild any buUdings or
<br />improvements now or hereafter on the property. to keep the property in good condition and repair,
<br />vit:hout waste and free frDZll mechanics or other liens not expressly subordinated to the lien hereof;
<br />to not 1DBlte. suffer or permit any nuisance to exist nor to diminish or impair the value of the
<br />propetty by ay act or omission to act; and to comply with all requirements of law with respect
<br />to tbe property.
<br />6. Condemnat1.on. In the event the property, or any part the~eof. shall be taken by eminent
<br />dOlllll.in. Beaef:1.c1.ary is entitled to collect and recehe all compensation which may be paid for any
<br />P1'operty taken or for damages to property not taken~ and Beneficiary shall apply such compensation,
<br />at :its option. either to a reduction of the :Indebtedness secured hereby or to repair and restore
<br />the property so taken.
<br />7. Performance bv Beneficiary. Beneficiary 1IlBY, but shall have no obligation to, do any act
<br />wbich Trustor has agreed but faUed to do, ad Beneficiary may also do any act it deems necessary
<br />to protect the lien hereof. Trustor agrees to repay. upon demand. any sums so ezpended by Bene-
<br />f1c.iary for the above purposes~ and any sum so e.xpmded by BenefiCiary shsll be added to the :In-
<br />dehtBdllulI secUl'l!d hereby and bee01llB seeured by the li1!D hereof. Beneficiary shall not incur any
<br />pereODal. l1abUity because of anything it may do or OIII1t to do hereunder.
<br />B. 1nIInect.1.0Id. Beneficiary. or ita agenta, representatives or worlallen. are authori~ed to
<br />enter at any reasClllable t1Jle upon or :In any part of tiE property for the purpose of inspecting the
<br />... and for the purpoae of pufomina any of the acts It 18 authorized to perform under the terms
<br />of auy loan :In.t~ta executed by Trustor.
<br />9. A..fl!ln_t of Rmts. Benef1cury shall have the right, powl!r and authority during the
<br />cond..nuance of thb Deed of Truat to coll~t the renta, iII.ues and profits of the property and of
<br />an,. peraonal property located thereon with or without taldng pos.eallion of the property affected
<br />bareb1~ and Truator bereby abaolutely and unconditionally aaaigna .11 such rents. 1sSuell and pro(itB
<br />to Benefici.ry. Ben.fIciary, ho_ver. hereby coo.anta to Tru.tor'. collection and retention of such
<br />rent.. i..ue. and profit. a. the, aceruo and bacDIII! payable, 110 lonM, liB Trustor ia not. at Buch time,
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