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<br />DEED OF TRUST 87-102654
<br />This Deed of Trust is made this 4th day of MaIV 1° 87 , by and among 1_ ll�n
<br />ng] 1 whose ma! !ng addreat 1s hereinafter referred to as Trustor"
<br />Attercmey at Law, hereinafter refereed to as raster,' rhos- malling add A dream is _�
<br />S1 NE and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as
<br />8emefictary, whose mailing address is P. 0. Boa 1688, Grand Island, Nebraska 68802.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to Trustee, in
<br />trwt, with paver of sale, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of Trust, the following- described property, located in Hall
<br />Nebraska, to -wit: County.
<br />lot 3 in Block 142 in Union Pacific Railwa 's Second
<br />Addition to the City of Grand Island, iia11 County, Nebraska
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privi-
<br />leges and appurtenances located thereon or In any way pertaining thereto, and the rents, issues, profits,
<br />reversions and the remainders thereof, including all such personal property that is attached to the Improve-
<br />'Bents so as to constitute a fixture, all of which, including replacements and additions thereto, are hereby
<br />declared to be a part of the real estate conveyed in trust hereby, it being agreed that all of the fore-
<br />going shall be hereinafter referred to as the "Property,"
<br />FOR THE PURPOSE OF SECURING:
<br />(in the sum Payment ,pf ittde ednesa.RVi ens �eien. ustor's note of even date herewith in
<br />the principal sum of }CD�0 tff]!1 ' (5 4 3, 4 with interest at the rate or ra es ). together
<br />prow e t or the principal and interest on any
<br />future advance not to exceed the total principal sum initially secured hereby as evidenced
<br />by promissory notes stating they are secured hereby, and any and all renewals, modifications
<br />and extensions of such notes, both principal and interest on the notes being payable in
<br />accordance with the terms set forth therein, which by this reference is hereby made a part
<br />hereof;
<br />(b) the perfermanca of each •.greeMen( and revenant of Trustor herein contained; and
<br />(c) the payment of any ate or sums of money which may be hereafter paid or advanced
<br />by Beneficiary under the terms of this Deed of Trust• together with interest thereon at the
<br />rate provided in the note.
<br />To protect the securlty of this Deed of Trust, Trustor hereby covenants and agrees as follows:
<br />I- Payment of Indebtedness. To pay when due, the principal of, and the interest on, the indebted-
<br />ness evidenced by the note• charges, fees and all other sums as provided In the loan instruments.
<br />2. Title. Trustor is the owner of the property and has the right and authority to execute this
<br />Deed of Trust in respect to the property.
<br />3. Taxes and. Assts _gents. To pay, when due, all taxes, special assessments and all other charges
<br />against the property, afore the same become delinquent, and, in the event Beneficiary shall so require.
<br />to add to the payments required under the note secured hereby, such amount as may be sufficient to en-
<br />able Beneficiary to pay much taxes, assessments or other charges as they become due.
<br />4. Insurance. To keep the Improvements now or hereafter located on the real estate described
<br />herein insured against damage by fire and such other hazards as Beneficiary may require, in amounts and
<br />companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss mender such
<br />Policies. Beneficiary is authorized to adjust, collect and compromise, In its discretion, ell. claims
<br />thereunder and, at its ;oho. opting, is authorized to either apply the proceeds to the restoration of the
<br />property or upon the indebtedness secured hereby• but payments required by the note shall continue until
<br />the same secured hereby are paid in full.
<br />5. iR alr. Maintenance and Use. To promptly repair, restore or rebuild any buildings or improve-
<br />ments now or hereafter on the property; to kee the
<br />and free from mechanics or other liens not property In
<br />good
<br />the dliennheerreof; tornotlmake` suffer waste
<br />or act; a any nuisance to exist nor to diminish or impair the value of the property by any act or omission
<br />to act; and to comply with all requirements of law with respect to the property.
<br />6• Condemnation. in the event the property• or any part thereof, shall be taken by eminent domain,
<br />Beneficiary La entltled to collect and receive all compensation which may be paid for any property taken
<br />or for damages to property not taken, and Beneficiary shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness secured hereby or to repair and restore the property so taken.
<br />7. as agrmanc_ t t by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which
<br />Trustor has agreed but failed to do, and Beneficiary may also do any act it deems necessary to protect
<br />above lien hereof. Trustor agrees pe repay, upon demand, any sums so expended by Beneficiary for the
<br />abOt'° Purpose °, and any sue so expended by Beneficiary she
<br />by and become secured by the ilea hereof. ll be added to the indebtedness secured here-
<br />anything it may do or omit to do hereunder. Beneficiary shall not incur any personal liability because of
<br />8. Ataisnmenta of Rents. Beneficiary shall have the right, power and authority during the con-
<br />tinuance of this Deed of Trust to collect the rents, issues and profits of the property and of any per -
<br />Tru°toproperty located thereon with or withoutataking possession of the property affected hereby, and
<br />searficiary, however. hereby consents to Trustor 'sgcollectionh and nretention sof and such orents, oissuueeslandry.
<br />Profits as they accrue and become payable, so long as Trustor Is not, at such ttme, in default with re-
<br />aPect to Payment of any indebtedness secured hereby, or in the performance of any agreement hereunder.
<br />If ony meant of default described hereafter in respect to this Deed of Trust shall have occurred and be
<br />comtiaolag, Beneficiary, as a matter of right and without notice to Trustor or anyone claiming under
<br />Trustor, and without regard to the value of the trust estate or the interest of the Trustor therein,
<br />dell have the right to apply to any court having Jurisdiction to appoint a receiver of the property.
<br />9. Inspections. Seaeflctary, or its agents, represenratl:•es or workmen. are authorized to enter
<br />at amy reasonable time upon or in any part of the property for the purpose of inspecting the same and
<br />for the purpose of performing arty of the acts it is authorized to perform under the terms •f any loan
<br />instruments executed by Trustor.
<br />10. 7r! fwr of ,Prole rtX. If all or
<br />....____. _.. anv part <,f the Vrcpert% „r ay. interest
<br />Trust or therein
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