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<br />CONT5: c
<br />DEED Of TRUST 87w 1 O 3 6 21
<br />(open Bad Single Note)
<br />This Dead of Trust is wade this day of June 198_2, by and s o a Gary A.
<br />Fitch , hereinafter referred to as "Truster,"
<br />who as sailing address is 219 Wainwright, G. 1. ,NE ; Arend Baack
<br />Attorney at Law, hereinafter referred to as rT wtaa�i, whoa wa111n8 address is P. Q, Box 790, G.Z,,NE
<br />and TM OFAtiAND NATIONAL U K OF GRAND ISLAND, hereinafter referred to as "Bemm ieiary, whose sailing address
<br />is P. 0. Bonn 1688, Grand Island. Nebraska 68802.
<br />For valuable consideration, Trustor irrevocably grants, transform, conveys and assigns to Trust". in trust,
<br />with power of sale, for the benefit and security of Beneficiary, under and subject to the taro and conditions
<br />of this Dead of Trust, the following described property, located in M 11 County, Nebraska, to -wit:
<br />Lot Seven (7), Subdivision of Lot Nine (9), Windolnhls Silhdivision of
<br />nett of the Nor�haast Qli rtpr of the Nor hmax t Q arty r(NEiM ) and_the
<br />Northwest Quarter of the Northeast Quarter (NW1NE}) of Section Fou een
<br />(14), Township Eleven (11) North, Range Nine (9) West of the 6th
<br />P.M., in Hall County, Nebraska,
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />and appurtenances located thereon or in any way pertaining thereto, end the rents, issues, profits, reversions
<br />and the reminders thereof, including all such personal property that is attached to the improvements so as to
<br />constitute a fixture, all of which, including replacements and 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 PURPOSE OF SECURING:
<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 Twenty -Six
<br />thousand dollars & no1100 ---------------- ----(g 26,000.00 ):
<br />(b) the 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 such notes;
<br />(c) the payment of principal and interest on any future advance as may be evidenced
<br />by promissory notes stating they are secured by this Deed of Trust; provided, however,
<br />that the total principal indebtedness, not Including sums advanced to protect the security
<br />or interest accrued, shall not exceed the sum of Twenty -six thousand dollars &
<br />W /100 ---- -- - - -- --- — ($ 26,000.00 )'
<br />(d) the performance of each agreement and covenant of Trustor herein contained; and
<br />(e) the payment of any sum or sums of money which say be haroaftsr paid or advanced by
<br />Beneficiary under the terms of this Dead of Trust, together with interest at the highest rate
<br />provided in the notes secured hereby.
<br />To protect the security of this Deed of Trust. Trustor hereby covenants and agrees as follows:
<br />1. Payment of Indebtedness. To pay when dus, the principal of, and the Interest on, the
<br />lmdebtabsees evidenced by the note, charges, fees and all other sues as provided in the loan instruments.
<br />2. Title. Trustor is the must of the property and has the right and authority to execute this
<br />Dad of Trust in respect to the property.
<br />3. Tana and Assessments. To pay, when den, all taxes, special assessments and all other charges
<br />against the property, before 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 such taxes, assessments or other charges as they become due.
<br />4. Insurance. To Imp the improvements now or hereafter located on the real estate described
<br />herein insured agafost damage by fire and such other hazards as Beneficiary may require, in amounts
<br />and companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of lose under
<br />such policies, Beneficiary is authorized to adjust, collect and compromise, in its discretion, all
<br />claims thereunder and, at its sole option, is authorized to either apply the proceeds to the restore -
<br />tion of the property or upon the indebtedness secured hereby, but payments required by the note shall
<br />continue until the sun secured hereby are paid in full.
<br />S. Repair. Maintenance and Use. To promptly repair, restore or rebuild any buildings or i.msrove-
<br />most* now or hereafter on the property; to keep the property in good condition and repair, without waste
<br />and free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer
<br />or permit 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 is entitled to collect and receive all compensation which may be paid for any property taken
<br />or for dosages to property not takes, and Bensficiany 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. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which
<br />Truster has agreed but failed to do, sad Beneficiary may also do any act it deems necessary to protect
<br />the lien thereof. Trustor ogre" to repay, upon demand, any sums so expended by Beneficiary for the
<br />abe" purposes, and any sum so expended by Beneficiary shall be added to the indebtedness secured hereby
<br />and ieasas secured by the 11" hereof. Beneficiary shall not incur any personal liability because of
<br />anything it my do or omit to do hereunder.
<br />8. Lion. Beneficiary, or its agents, representatives or workman, are authorized to enter
<br />at my raseona • time upon or in any part of the property for the purpose of inspecting the some and
<br />for the purpose of performing any of the acts it is authorised to perform under the terms of any loan
<br />instruments esecuted by Truster.
<br />9. of Beneficiary shall have the right, power red authority during the con -
<br />tiawance a this Deed o rust to collect the rents, issues and profits of the property and of any
<br />perseasi property located thersem with or without taking possession of the property affected hereby,
<br />and Truster horsby absolutely and unconditionally assigns all such rents, issues and profits to
<br />Ssficlery. Beneficiary, however, hereby comments to Trustor's collection and retention of such
<br />rents, lees" and profits as they accrue and become payable, so long as Trustor is not, at such time.
<br />Be defaolt with respect to payment of any indebtedness secured hereby, or in the performance of any
<br />agreemest heremader. It any event of default described hereafter in respect to this Dead of Trust
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