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CORM c
<br />PERD OF
<br />(Open Not.) 87- 102906
<br />This Deed of Trust is ode this 7th nay of ril , 19a7—, by and among ^Jeffrey Re q@M
<br />�.■ a� D�bbf a I am Wifp hereinafter referred to as "Truster,"
<br />([ whose mailing address to 219 South 1i�i Arend R Maack
<br />Attorney at Law, fereinafter referred io as Trustee, whose mailing address is
<br />P. O. ilex 790. Grora.N Il,landi DjF,
<br />and THE OVERLAND NATIONAL DANK OF GRAND ISLAND, hereinafter referred to as "Beneficiary, whose mailing dress
<br />Is P. 0. Box 1688, Grand Island, Nebraska 68802.
<br />For valuable consideration, Trustor irrevocably grants, transfers, convoys and assigns to Trustee, in trust,
<br />with power of sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions
<br />of this Deed of Trust, the following described property, located in Ji&11 County, Nebraska, to -wit-
<br />Ivt 16. EB�le �p�`S`t�hrit� c on _�!
<br />together with 411 buildings, Improvements, fixtures, streets, allays, passageways, easements, rights, privileges
<br />and appurtenances located thereon or in any way pertaining thereto, and the rents, issues, profits, reversions
<br />and the remainders thereof, including all such personal property that is attached to the improvements so as to
<br />constitute a fixture, all of which, Including replacements curd additions thereto, are hereby declared to be a
<br />part of the real estate conveyed In trust hereby, it being agreed that all of the foregoing shall be hereinafter
<br />referred to as the "Property."
<br />FoR THE FTRPOSE OF SECS'RTN6:
<br />(a) the payment of personal indebtedness owing from Trustor to Beneficiary, as evidenced
<br />by a promissory Note of even date herewith in the original principal amount of
<br />Fifteen Thousand Dollars and Ni0 1100 - - - -__ f
<br />-- -- — -- -- - - - - -- ------ - - -- -- - - 15 X000 00 - -- )
<br />(b) toe payment of Interest at the rate or rates provided In the afore - described note
<br />and the payment of both principal and interest on any and all renewals, modifications and
<br />extensions of .ouch notes;
<br />(c) the payment of principal. and Interest on any future advance as may be evidenced
<br />', promissory rotes stating they are secured by thin Deed of Trust; provided, however,
<br />that the total principal indebtedness, not including suaa advanced to protect the security
<br />or interest: — cruse, shall not exceed the sum of Fifteen Thousand Dollars and
<br />--
<br />h11 thm perfcraance of each agreement and covenant of Trustor 'Mersin contained; and
<br />(e? the payment of any sin or sums of money which may be hereafter paid or advanced by
<br />Benefl.ciary ,ruder the term of thin Deed of Trust, together with Interest at the highest rate
<br />prcavtdad In the orates secured hereby.
<br />Tc psctarct. ;`: security of this imed .:,f Trust, Trustor hereby covenants and agrees as follows:
<br />I. Y�aysant _?i Iisdebcdnvss. Tn pay when due, the principal of, and the interest on, the
<br />indebtedness evidence:; by the note, charges, fees and all other suss as provided In the loam Instruments,
<br />2. %t le. Truster Is rl;e cw. ner t•f tr,e prepet -, and has the right and authority to execute this
<br />Dead of 'frost Sn re'spe,:; 1. the property.
<br />3. Taxa?sand Ass.ss neo t, .r, ,,at, when due, all trues, spec Sal A— v— ment.s and all other charges
<br />against the ropers .,�a^f or. t.c' same become delinquent. and, In the event Benef(riary shall so require,
<br />to add to the ;,.tmenis rwq,A reel under the note secured herebv, such amount as may be sufficient to en-
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<br />able keneflc_lara t�? '4' su'n tdxrs., asmc6saent,a or other ctxarg ®s as they become! due.
<br />4. Insurance. " keep than imi'"rove nts now or hereafter located on the real estate described
<br />herein insured aKalnet ,:.:aleage by fire and h other hazards as Beneficiary may require, in amounts
<br />and companies Acceptable t„ Beneficiary, Mead 'It" :ovs payable to 9enefi.ciary. In case of loss under
<br />such policies, Benefactor; (s su;.horized to a3iust, collect and compromise, In Its discretion, all
<br />claims thereunder asd. at its option, Is aut3,orized to either apply the proceeds to the restora-
<br />tion of the ropert c- c,r upon tfau I.ndebtednesa secured hereby, but payments required by the note shall
<br />i�ontlnue unt11 the %oats secured !svrel'v are paid in iuil.
<br />5. Rv�,alr�f{a interance seed i_se, To promptiy repair, restore or rebuild any buildings or Improve -
<br />ments now or hereafter +:m the property: to keep the property In good condition and repair, without waste
<br />and free from mschanics cr other :fens not expressly subordinated to tho lien hereof; to not make, suffer
<br />or permit any nuisance tc exist nor to diminish or Impair the value of the property by any act or omission
<br />to act; and to comply with all require nos of law with respect to the property.
<br />6. Conde nation. In the event the property, or any part thereof, shall be taken b, eminent domain,
<br />Beset Lclar}• is er.t itled t•? ca+Ilect 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 eecured hereby or to repair and restore the property so taken.
<br />7. Performance by Bencficia yy. Beneficiary may, but shall have no obligation to, do any act which
<br />Truster has agreed but taileai to do, and Be-xf$ciary May also do any act It deems necessary to protect
<br />the lien thereof. Tr'.astor agrees to repay, upon demand, any sums so expended by Beneficiary for the
<br />above purposes, and any sun so expended by lnaneficiary shall be added to the Indebtedness secured hereby
<br />and become secured by the lien hereof. Beneficiary shall not incur any personal liability because of
<br />anything it may do or limit to de hersundet.
<br />$. I Beneficiary, or its agents, representatives or workmen, are authorized to enter
<br />at any reasonable tizsrr upon nr in any part of the property for the purpose c,f inspecting the some and
<br />for the purpose of performing . any of the acta it Is authorized to perform under the terms of any ],,an
<br />Ssstr is executed R,.• Trustor.
<br />q. Aani nt of Rents. Be:na'f is iary shall have the right, power anti authority during the con-
<br />Trust to collect the rents. Issues and profits of the prcpert: and of any
<br />peT fal Pfarparty iccated thmre wLih or without taktnx possrston of the property, vffacted livrehy,
<br />and Traaator hereby a'asoluraly and ua— olAtt•."a11y »%signs -11 -,u11: rent', Issues slid profits to
<br />Daoa£9a tsrvv. hellvflciar,, ho acv t, lmre(y consents to r stor'oe ,11 e;;:t l,m and rvt.e.ntin11 .,f ouch
<br />rents. fa,ac sa and yrtfita aw they accraa a.+d (ec rte ,,ayab lK +, a•. , <,g �aa irust er i'+ not. at sw:h rite,
<br />In A.vfam'!t wit), r.+ai�ar..4 to paxaao.: .1 any Snde!,ta,haesa - :.wcure,l xre! ..e ,,: tie yea f�•tThaant•fl^ ,t ,env
<br />aBremaant hvrs�der. if ass event of 4efa,eSt ciracrlNed hrreaf ^..r s:: rrssq: -. -r t„ e , i:we�! of ir„rot.
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