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<br />TRUST DEED
<br />87-101949
<br />each in their owe right.
<br />This Trust Deed is executed on the date shown on the last page,
<br />among the "Trustor ",v P; Alberts husband & wife,
<br />whose address is Rt 1 ox � oo ver, 0
<br />hereinafter called the "Borrower" whether one or more and
<br />First State Bank of Shelton, Nebr. here called
<br />the "Trustee ", whose address is box -51tst SFi"elton; 'i eur. a
<br />and the Ben ary, First State B, lton
<br />whose address is Box 518p Sheltong Neur. 0$$76
<br />_ hereinafter called the "Lender."
<br />WHEREAS, Borrower is. indebted to Lender in the principal sum of
<br />Two Hundred Thousand &00,/100 Dollars ($ 200.000.00), for
<br />money loaned, for which amount the Borrower has on various dates
<br />executed and delivered a Promissory Note or Notes, payable to the Lender,
<br />together with interest at the rate as shown on the note or notes. This
<br />Trust Deed in favor of Lender and all extensions, modifications and
<br />renewals thereof or advances made subsequent to the date of this Trust
<br />Deed and secured by this Trust Deed shall be secured by this Trust Deed
<br />and shall be referred to in this instrument as the "Note."
<br />WHEREAS, the Lender desires to secure timely payment of the Note
<br />and full performance of the covenants, conditions and terms contained in
<br />this instrument and any other documents related thereto.
<br />NOW, THEREFORE, under this Trust Deed, the Borrower does in
<br />consideration of (1) existing debts or obligations created simultaneously
<br />with the execution of this Trust Deed, (2) future advances necessary to
<br />protect the security transferred hereunder, (3) any future advances to be
<br />made at the option of the parties and /or (4) the performance of any
<br />obligation of any other person named in Paragraph 20 of this Trust Deed
<br />to the Lender (Beneficiary), hereby grant and convey unto the Trustee,
<br />its successors and assigns, in trust, with Power of Sale, for the benefit
<br />and security of the Lender (Beneficiary) under and subject to the terms
<br />and conditions of this Trust Deed, the following described property,
<br />located in hall County, Nebraska, to-wit:
<br />Lots Two (2), Four (4), Six (6) and Eight (8), East 25' of Lot Ten (10)
<br />Foster's Subdivision of part of Southeast Quarter of the Northeast
<br />Quarter (SE3 NEI) and part of the Northeast ;quarter of the Southeast
<br />Quarter (NE4 SE4), all in Section Twenty Four (24), Township (10)
<br />North, Range Twelve (12), West of the 6th P.M., ;iall County, Nebraska
<br />together with all buildings, improvements, fixtures, streets, alleys,
<br />passageways, easements, rights, privileges and appurtenances located
<br />thereon or in any way pertaining thereto, and the rents, issues, profits,
<br />reversions and remainders thereof, including all such personal property
<br />that is attached to the improvements so as to constitute a fixture, all of
<br />which, including replacements and additions thereto, are hereby declared
<br />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
<br />"Property."
<br />1. Tile. Borrower covenants that Borrower is lawfully seized of fee
<br />simple title to the property, free from encumbrances except as herein
<br />stated:
<br />2. Warranty. Borrower will have the right and power to convey
<br />absolute titled —fee simple and will warrant and defend the title to the
<br />property against all claims whatsoever except as mentioned.
<br />3. Performance of obligations. Upon the full payment of all
<br />indebtedness or full performance of all obligation secured by this Trust
<br />Deed and the payment of all charges and expenses incurred by the
<br />Trustee, the Trustee shall release and reconvey the real property, at
<br />Borrower's costs, to the Borrower, or to any party then claiming through
<br />the Borrower.
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