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87. 102271
<br />DEED OF TRUST
<br />THIS DEED OF TRUST, made this .WL— day of Apri 1 i
<br />byandamong Fred D. Schroeder and Deborah K. Schroeder Husband and Wife
<br />whose mailing address is Rt. 2, Box 80, Shelton NE 68876
<br />therein "Trustor "); and
<br />Union Bank & Trust Company whose mailing address is
<br />P 0 Box 6155, Lincoln, NE 68506
<br />(herein "Trustee "); and Union Bank & Trust Company
<br />whose mailing address is P 0 Box 6155, Lincoln, NE 68506
<br />(herein "Beneficiary").
<br />{ FOR VALUABLE CONSIDERATION, Trustor irrevocably grants, transfers, convoys and assigns to Trustee, INTRUST, WITH POWER OF SALE, for
<br />the benefit and security of Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the following described real property,
<br />located in Hall County, Nebraska:
<br />The Soutb � of the Southeast ;4 of Section 7, Township 10 North, Range 12
<br />West of the 6th P.M., Hall County, NE
<br />TOGETHER WITH; all rents, profits. royalties, income and other benefits derived from the real property: all leases or subleases covering the real
<br />property or any portion thereof, now or hereafter existing or entered into. and all right, title and Interest of Trustor thereunder; all interests, estate or
<br />other claims, both in law and in equity, which Trustor now has or may hereafter acquire in the real properly; all easements, rights -of -way, tenements,
<br />hweditsments and appurtenances thereof and thereto; all oil and gas rights and profits, water rights and water stock; all right, title and interest of
<br />Trustor, now owned or hereafter acquired, in and to any land lying within the right -of -way of any street or highway adjoining the real property; any and
<br />all buildings, fixtures. improvements. and appurtenances now or hereafter erected thereon or belonging thereto, (herein referred to as
<br />"Improvement" or "Improvements"); and any and all awards made forthe taking by eminent domain, or by any proceeding or purchase in lieu thereof,
<br />of the whole or any part of the real property. All of the foregoing estate. property and interest conveyed to Trustee herein collectively referred to as the
<br />Property".
<br />FOR THE PURPOSE OF SECURING:
<br />(a) The payment of indebtedness evidenced by Trustor's note of even date herewith in the principal sum of Forty —two thousand
<br />dollars and no/ 100-------------------------- - - -- - -- Dollars (s42, 000. 00 ),
<br />togetherwith interest at the rate orrates provided therein. or the principal and interest on any future advances evidenced by promissory notes stating
<br />'•'' they are secured hereby, (herein "Note" or "Notes"( and any and all renewals, modifications and extensions of such Note, both principal and interest
<br />on the Note being payable in accordance with the terms set fonh therein, reference to which is hereby made.
<br />(b) The performance of each agreement and covenant of Trustor herein contained; and
<br />(c) The payment of any sum or sums of money with interest thereon which maybe hereafter paid or advanced under the terms of this Deed of Trust.
<br />A. TO PROTECT THE SECURITY OF THIS DEED OF TRUST. TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS:
<br />1. Payment of Principal and Interest. Trustor shall promptly pay when due the principal of and interest on the indebtedness evidenced by the
<br />Note, and all other charges and fees as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed of Trust.
<br />2. Warranty of Title. Trustor is lawfully seized and possessed of good and indefeasible title and estate to the Property hereby conveyed and has
<br />the right to grant and convey the Property; the Property is free and clear of all liens and encumbrances except liens now of record; and Trustor will
<br />warrant and defend the title to the Property against all claims and demands.
<br />3. Maintenance and Compliance With Laws. Trustor shall keep the Property in good repair and condition and shall not commit waste or permit
<br />impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. No improvement
<br />now or hereafter erected upon the Property shall be altered, removed or demolished without the prior written consent of Beneficiary. Trustor shall
<br />comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property and not commit, suffer or permit any act
<br />to be done in or upon the Property in violation of any law, ordinance, regulation, covenant, condition or restriction. Trustor shall complete or restore
<br />promptly and in good workmanlike manner any improvement on the Property which may be damaged or destroyed and pay, when due, all claims for
<br />labor performed and materials furnished therefore and for any alterations thereof.
<br />4. Insurance. Trustor, at its expense, will maintain with insurors approved by Beneficiary, insurance with respect to the Improvements and
<br />Personal property, constituting the Property, against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended
<br />coverage endorsement, in an smount equal to at least one hundred percent of the full replacement value thereof and insurance against such other
<br />hazards and in such amounts as is customarily carried by owners and operators of similar properties or as Beneficiary may require for its protection.
<br />Trustor wiff comply with such other requirements as Beneficiary may from time to time request for the protection by insurance of the interests of the
<br />respective parties. All insurance policies maintained pursuant to this Deed of Trust shall name Trustor and Beneficiary as Insureds, as their respective
<br />interests may appear, and provide that there shall be no cancellation or modification without no less than 15 days prior written notification to Trustee
<br />and Beneficiary. In the event any policy hereunder is not renewed on or before 15 days prior to its expiration date. Trustee or Beneficiary may procure
<br />such insurance in accordance with the provisions of paragraph A.8 hereof. Trustor shall deliver to Beneficiary the original policies of insurance and
<br />renewals thereof of memo Copies of such policies and renewals thereof. Failure to furnish such insurance by Trustor, or renewals as required
<br />flit Nish, at the option of Beneficiary, constitute a default.
<br />5 Tries, Assessments and Charges. Trustor shall pay all taxes, assessments and other charges. including, without limitation, fines and
<br />140 to attributable to the Properly, and leasehold payments or ground rents. if any, before the same become delinquent. Trustor shall promptly
<br />fumM9r to efictary all notices of amounts due under this paragraph, and in the event Trustor shall make payment directly, Trustor shall promptly
<br />furnish to Benefwoary receipts evidencing much payments. Trustor shall pay at! taxes and assessments witch may be levied upon Bennhdarys
<br />interest harem or upon this Ned of Trust without regard to any taw that may be enacted imposing payment of rhn whose or any part thereof upon the
<br />eficmry
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