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<br />DEED OF TRUST
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<br />88- 106810
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<br />THIS DEED OF TRUST. is mude /IS of t.he --1.:itbduy ef n~"~mh~,. 19.BlL., by and among
<br />lIarry L. Lili~nthal and Wando R. Lilienthal ('''rrustor''), whose moiling address is
<br />lit 15, Box 3A, Grand Ioland, Ne 66603
<br />The State Bank of Cairo ("Trustee"), whose mailing address is
<br />P.O. Box ~26, Cairo, Ne 6B62~
<br />and Elmer lIoy Sharp ("Beneficiary") whose mailing address is
<br />Box 122, Long Pine, Ne 69217
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and aBsiglU! to Trustee, IN
<br />TRUST, WITH POWER OF SALE, fer 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~"Il''7.Y'7.Y!lY7.Y7.Y'7.Y'7.Y'7.Y'7.Y County of
<br />Hall State of NebraBka, and legally described as follows (the "Property"):
<br />The Easterly 361.5 feet of the Southerly 361.5 feelt of the sw'l!;sWli; of Section
<br />36, Township 12 North, lIenge 10 West of the 6th P.M., Hall County, Nebraska
<br />
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<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining road.
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all
<br />water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust Estate".
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a Payment of indebtness in the total principal amount of $ 50. OGO. 00 , with interest
<br />thereon, as evidenced by that certain promissory note of even date (the "Note") :with::uc~:m
<br />, executed by Trustor, which has been delivered and is payable to the order of
<br />Beneficiary, and which by this reference is hereby made a part hereof; and any and all modificatiolU!, exten-
<br />siolU! and renewals thereof, and
<br />b, Payment of allsUllU! advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate
<br />of t"n and 6<; 1100 percent (~%) per annum.
<br />
<br />'Ibis Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments".
<br />TO PROTECT THE SECURITY OF TillS DEED OF TRUST:
<br />
<br />L PAYMENT OF INDEBTEDNESS, Trustor shall pay when due the priocipal of, and the interest on, the
<br />indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES, Trustor shall payeachinstallmentofall taxes and special assessments of every kind, now or hereafter
<br />levied agaiDBt the Trust Estate or any part thereof, before delinquency, without notice or demand. and shall provide
<br />Beneficiary with evidence of the payment of same. Trustor shall pay aD taxes and assessments which may be levied
<br />upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that
<br />may be enacted imposing payment of the whole or any part thereof upon the Beneficiary.
<br />3. INSURANCE AND REPAlRS. Trustor shall maintain fire and not extended coverage insurance insuring the
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note (co-insurance not exceeding 80% permitted). Such insurance policy shall contain
<br />a standard mortgage clause in favor 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 Estate or
<br />any part thereof so that, except for ordinary wear and tear, the Trust Estateshall not deteriorate. In no event shall the
<br />Trustor commit waste on or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficial)'
<br />or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in
<br />any of the Loan Instruments. Beneficiary and/or Trustee, each in its own discretion, without obligation so to do and
<br />without notice to or demand upon Trustor and without releasing Trustor from any obligation, may make or do the
<br />same in such manner and to such extent as 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 connectiun
<br />with the exercise by beneficiary of the foregoing rights, induding without limitation costs of evidence of title, court
<br />costs, appraisals, surveys and attorney's fees. Aity such costs and expenses not paid within ten (10) days of writ ten
<br />demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein. be taken or damaged by
<br />reason of any public improvement or condemnation proceeding, or in any other manner including deed in lieu ofCondem-
<br />nation ("Condemnation"), or should Trustor recive any notice orotherinfonnation regarding such proceeding, Trustor shall
<br />give prompt written nutice thereof to Beneficiary. Beneficiary shall be entitled to all compensation. awards and other pay-
<br />ments or relief therefor, and sball be entitled atits option to L'Ommence, appear in and prosecute in its own name any action
<br />or proceedings. Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or
<br />damage.. Allsucb compensation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds") are
<br />hereby assigned to Beneficiary and Trustor agrees to execute BUch further assignments of the Proceeds as Beneficiary or
<br />Trustee may require.
<br />6, APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a wtitten instrument
<br />executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Trust Estate is
<br />located and by otherwise complying with the provisions of the applicable law of the State ofNehraskn substitute n successor
<br />. or succesaora to the Trustee named herein or acting hereunder.
<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit orund binds aU parties hereto,
<br />their hM, legatees, devirees, personal represent.ati\'es. successors and 8SBigns. The term "Beneficiury" shall mean thl'
<br />owner and holder of the Note. whether or not named UN Beneficinn' herein.
<br />8. INSPECTIONS. H('neficiury. or its 1l"t'niH, rcpresentutivetl or workmen. are authorized tu enter at any rl'utlunuhll'
<br />time upon orin any pan uf the Trust EsLuw fur lh~ IJUrpOHe of inslll(.ctin6l tilt' "nIDI'und fur the pUrpOi'l' /If f'll'rf'lrrnllll-! /lny 'If
<br />the ada it ill authorized to oerform under the terrtUI of lIny of the Loun Instruments.
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