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DEED of TRUST 87-101876
<br />This Deed of Trust is made this 3rd day of April , 19 87, by and among
<br />Harry T. Bulow and Ila Mae Bulow, 'Husband and Wife -------------<----------------------
<br />hereinafter referred to as Truster, whose mailing address is 2905 West Koenig, Grand
<br />Island, NE 688PUEND R. BAACK, Attorney at Law, hereinafter referred to as Trustee,"
<br />whose mailing address is P. 0. Box 790, Grand Islam, Nebraska.68802; and HOPE FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Beneficiary,"
<br />whose mailing address is 221 South Locust Street, P. 0. Box 1009, Grand Island, Nebraska
<br />68802.
<br />For valuable consideration, Truster irrevocably grants, transfers, conveys and
<br />assigns to Trustee, in trust, with power of sale, for the benefit and security of Bene-
<br />ficiary, under and subject to the terms and conditions of this Deed of Trust, the fol-
<br />lowing described property, located in Halt County, Nebraska, to -wit:
<br />LOTS FIVE (5) AND SIX (6) AND THE WEST SIX (6) FEET OF LOT SEVEN (7), BLOCK TWELVE
<br />(12), ARNOLD AND ABBOTT'S ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA.
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways,
<br />easements, rights, privileges and appurtenances located thereon or in any Way pertaining
<br />thereto, and the rents, issues, profits, reversions and the remainders thereof, includ-
<br />ing all such personal property that is attached to the improvements so as to constitute
<br />a fixture, all of which, including replacements and additions thereto, are hereby de-
<br />clared to be a part of the real estate conveyed in trust hereby, it being agreed that
<br />all of the foregoing shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by Truster's note of even date herewith
<br />in the principal sum of ONE HUNDRED EIGHT THOUSAND AND NO/r?r3o -----------------------
<br />($108,000.00 ), together with the balance of such indebtedness, if not sooner
<br />paid, due and payable on. May 1 , _ _ 2017 ; with interest at the rate or rates
<br />provided therein., along with the payment of all other sums, with interest thereon,
<br />advanced in accordance herewith to protect the security of this Deed of Trust,
<br />together with the principal and interest on any future advance as evidenced by
<br />promissory notes stating they are secured hereby, and ary and all renewals, modifi-
<br />cations and extensions of such notes, both principal and interest on the notes
<br />being payable in, accordance with the terms set forth therein, which by this refer-
<br />ence is hereby made a part hereof. The holder hereof shall have the option to
<br />accelerate the maturity of the note for which this mortgage is given. as security,
<br />at any time after the 5t: loan year after first giving the undersigned or
<br />the then owner of the premises described hereir a written notice three months
<br />in advance of its intent to do so. At no time shall the principal amount of the
<br />indebtedness secured by this Deed of Trust, not including sums advanced in accord-
<br />ance herewith to protect thesecurity of the Deed of Trust, exceed the original
<br />amount of the note plus $ -0- ;
<br />(b) the performance of each agreement and covenant of Truster herein contained;
<br />and
<br />(c) the payment of any sum or sums of money which may be hereafter paid or advanced
<br />by Beneficiary under the terms ofthis Deed of Trust, together with interest thereon
<br />at the rate provided in the note.
<br />To protect the security of this Deed of Trust, Truster hereby covenants and agrees
<br />"' as follows:
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