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<br />DEED OF TRUST 87-- 101677
<br />THIS DEED OF TRUST is made this Twentv Third day of March
<br />19_187 among theTrus,or, Merton L. Norton and Betty J, Orton
<br />(herein "Borrower "), AREND R. BAACK ATTORNEY AT LAW
<br />(herein "Trustee "), and the Beneficiary, HOME FEDERAL SAVINGS 8 LOAN ASSOCIATION OF GRAND ISLAND, NE
<br />a corporation organized and existing under the laws ofL NEBRASKA whose address is 221 SOUTH LOCUST P. O BOX 4809,
<br />GRAND ISLAND, NE @8802 (herein "Lender ").
<br />BORROWER, in consideration of the indebtedness herein recited and the trust herein created, irrevocably grants and conveys to Trustee,
<br />trust, ust, with power of sale, the following described property located in the County of Hd I I
<br />State of Nebraska:
<br />A Tract of land comprising a part of the Northwest Quarter of the
<br />Northeast Quarter (NW1 /4NE1 /4) of Section Twenty Nine (29), Township
<br />Eleven (11) North, Range Nine (9) West of the 6th P.M., Hall County,
<br />Nebraska, more particularly described as follows: Beginning at a
<br />point Thirty Three (33.0) feet West and Eight Hundred Thirty one,(831.0)
<br />feet South of the Northeast corner of said Northwest Quarter of the
<br />Northeast Quarter (NW1 /4NE1 /4); thence southerly along a line Thirty
<br />Three (33.0) feet west of and parallel to the east line of said Northwest
<br />Quarter of the Northeast Quarter (NW1 /4NE1 /4), a distance of Ninety Two (92)
<br />feet; thence westerly parallel to the North line of said Northwest Quarter
<br />of the Northeast Quarter (NW1 /4NE1 /4) a distance of One Hundred Seventy five
<br />(175.0) feet; thence Northerly parallel to said East line of the
<br />Northwest Quarter of the Northeast Quarter (NW1 /4NE1 /4), a distance of
<br />Ninety two (92.Q) feet; thence Easterly parallel to said north line of
<br />the Northwest Quarter of the Northeast Quarter (NW1 /4NE1 /4), a distance
<br />of One Hundred Seventy Five (175.0) feet to the place of beginning.
<br />which has the address of 2220 South Blaine Grand Island, ..
<br />(STREET) (Cf M
<br />Nebraska 68801 herein "Property Address ");
<br />(STATE & ZIP CODE)
<br />TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents
<br />(subject however to the rights and authorities given herein to Lender to collect and apply such rents), royalties, mineral, oil and gas rights and
<br />profits, water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replacements and
<br />additions thereto, shall be deemed to be and remain a part of the property covered by this Deed of Trust; and all of the foregoing, together with
<br />said property (or the leasehold estate if this Deed of Trust is on a leasehold) are herein referred to as the "Property ";
<br />TO SECURE to Lender (a) the repayment of the indebtedness evidenced by Borrower's note dated March 23, 1987
<br />(herein "Note"), in the principal sum of Thirty Thousand and No/ 100------------------------- - - - - --
<br />Dollars,
<br />with interest thereon, rovidh for month
<br />l installments of principal and interest, with the balance of the indebtedness, if not sooner paid, due
<br />and payable on March 31, 199L�
<br />the payment of all other sums,
<br />with interest thereon, advanced in accordance herewith to protect the security of this Dad of Trust; and the performance of the covenants and
<br />agreements of Borrower herein contained; and (b) the repayment of any future advances, with interest thereon, made to Borrower by Lender
<br />Pursuant to paragraph 21 hereof (herein "Future Advances ").
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property,
<br />that the Property is unencumbered, and that Borrower uu warrant and defend generally the title to the Property against all claims and
<br />demands, subject to any declarations, easements or restrictions listed in a schedule of exceptions to coverage in any title insurance policy
<br />insuring Lender's interest in the Property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal staff interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced
<br />by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed
<br />of Trust.
<br />2. Fnmh for Tattea and Insursuce. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day
<br />monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds ") equal to one-
<br />twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and ground rents on the Property, if any, plus one-
<br />twelfth of yearly premium installments for hazard insurance, plus one- twelfth of yearly premium installments for mortgage insurance, if any, all
<br />as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accourts of which are insured or guaranteed by a Federal or state agency (including
<br />Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and grouted rents.
<br />lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills,
<br />unless Lender pays Borrower tnterrsi on the Funds and apphcahle law permits I ender to make such a charge. Borrowrr and Lender may agree to
<br />wrifina 911 the rimt of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or
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