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<br />88- 106924
<br />
<br />DIDlD OJ!' TRUST
<br />
<br />THIS DEED OF TRUST is made as of the 23 day of December , 19 88by and
<br />among RONALD J. GOLKA end CHRISTINE M. GOLKA, husband and wife, ("TRuSTOR"),
<br />whose mailing address is: 1106 East Oklahoma, Grand Island, Nebraska 66601;
<br />
<br />and DUANE A. BURNS, ("TRUSTEE"), whose mailing address is: P. o. Box 2300, Grand
<br />Island, Nebraska 66602;
<br />
<br />and JOHN F. BROWN and JOYCE M. 6ROWN, husband and wife as joint tenants,
<br />("BENEFICIARytt), whose mailing address is: Route 1, Box 17, AIda, Nebraska
<br />66610.
<br />
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys, and
<br />assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br />Beneficiary, under and subject to the terms and conditions of this Deed of Trust,
<br />the real property located in the City of Grand Island, County of Hall, State of
<br />Nebraska, and legally described as follows: (the II Property" ):
<br />
<br />Lot Three (3), Valley View Third Subdivision, in
<br />the City of Grand Island, Hall County. Nebraska.
<br />
<br />TOGETHER WITH all rents, easements, appurtenances, hereditaments, interests
<br />in adjoining roads, streets and alleys, improvements and buildings of any kind
<br />situated thereon and all personal property that may be or hereafter become an
<br />integral part of such buildings and fmprovements.
<br />
<br />ThA property and the entire estate and interest conveyed to the Trustee are
<br />referred to collectively as the "Trust Estatefl.
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a. Payment of indebtedness in the total principal amount of $57.500.00.
<br />with interest thereon, as evidenced by the certain Promissory Note of even date
<br />(the "Note") with a maturity date of December 12, 2016, executed by Trustor,
<br />which has been delivered and is payable to the order of Beneficiary, and which by
<br />this reference is hereby made a part hereof, and any and all modifications,
<br />extensions and renewals thereof, and,
<br />
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate,
<br />with interest thereon at the rate of ~ percent per annum.
<br />
<br />This Deed of Trust, the Note, and any other instrument given to evidence or
<br />further secure the payment and performance of any obligation secured hereby are
<br />referred to collectively as the "Loan Instruments II .
<br />
<br />TO PROTECT TIlE SECURITY OF THIS DEED OF TRUST:
<br />
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of.
<br />arid the interest on, the indebtedness evidenced by the Note, charges, fees and
<br />all other sums a6 provided in the Loan Instruments.
<br />
<br />2. ~ Trustor shall pay each installment of all taxe6 and 6pecial
<br />assessments of every kind, now or hereafter levied against the Trust Estate or
<br />any pert hereof, before delinquency. without notice or demand, and shall provide
<br />Beneficiary with evidence of the payment of seme. Trustor shall pay all taxes
<br />and assessments which may be levied upon Beneficiary's interest herein or upon
<br />this Deed of Trust or the debt secured hereby, without regard to any law that may
<br />be enacted imposing payment of the whole or any part thereof upon the
<br />Beneficiary .
<br />
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended
<br />coverage insurance insuring the improvements and buildings constituting part of
<br />the Trust Estate for an amount no less than the amount of the unpaid principal
<br />balance of the Note (co-insurance not exceeding eo% permitted). SUch insurance
<br />policy shall contain a standard mortgage clause in favor of Beneficiary and shall
<br />not be cancellable, terminable, or modifiable without ten (10) days prior written
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