|
3! 103928 FCBq 5011
<br />Page 2 of 2
<br />(Cl The repayment in full by Truslor(s) of all amounts advanced by Beneficiary, at Its option, to or on behalf of Trustor(s) as protective
<br />advances authorized heroin, In the loan agreement(s), or in other )nstrumentfa) which may be given to evidence such advances, plus interest
<br />on all such &"noes, payable as provided In the note(s), wan agreement($) or other Inalrumant(s).
<br />fd) The payment in full of any and all other past, present or future, direct or contingent, debts and liabilities of Trustor(s) to Beneficiary of
<br />any nature wfgltadWN.
<br />This Trust Dead will be due January 1. 2000 or upon the payment In full of all sums secured hereby.
<br />Trustor(q hareby warreal thei they hold tee ample ttlle o the above described property, that they haw good and lawful wffomty to Wed and encumber the sans,
<br />mat DOW Property Is free and char of all liens and endumbrartcee, except encumbmwn of rpord, and met troy will warrant and defend mid property spinal all
<br />chimangwhomeoewr. Trustor(s) *Mo hereby waive and mirnquish all rights of dower, homestead. distributive Mere and exemption in and to the Wove described
<br />property.
<br />True"*) and am& of ahae ha Ma Owfsmd ate gree SAM MuMNry m NNmi
<br />(1) To pay all lgns. judgmenb or otnNmaagmans &"trial add Trust En la. and to pay when due all is%". rents, fees or charges upon sold Trust Estate or under
<br />any Mesa. pamnit, license Of privilege assigned to BrreflcMry as additional esourity to this Trust Deed, Including mope on pubfJo domain.
<br />(2) To insure and keep insured hwilomps and other Improvernenb now on or hereafter placed on said Trust Estate to the mtNNction of Beheft fiery. Such
<br />"durance Mall be approved by SAW dapoaaW with t$enNioiary. andandorsed with lion thereunder payable to BenMkiary. Any Sums so received by tfMnefioMny nay
<br />be used to pay for reeonstroction of the destroyed Improvements or It not so applied may, at the option of the Berneficlary, be applied in paymam of any Indebtedness
<br />MaIWW or unmatund secured by this Trust Deed.
<br />(3) To keep NI buildings. fixtures and other Improvements now on or hereafter placed on said Trust Estate occupied and in good repair, mornmence and
<br />condition and to neither commit nor permit any scia of waste Of any impairment of the value of the Trust Estate. Benellciar,- may Dow upon the Trust Eaton to
<br />nnpect the eet11e Of to PWIOfM any WAS authorized herein or M the loan proem ent.
<br />(4) In tho event Truetorpt) fall to pay any IMmM.)utlp fen b. aeeseansnts, taxes, rents. lessor charges ormsinfeln any insurance on the
<br />Property, buildings, o fixtures
<br />Or MpirovMMnte as provided hereirn a in ffM ban apraernenttS), Beneficiary may, at its option, make such payments or provfds Insurance, mainferanoe w repan
<br />and any amounla paid therefor "I DOOM* pro Of the principal indabtedf as WAWW harebY, be immediately due and Payable and bier Interest from the date of
<br />Payment ee InoviOed in the nofe(s) or Joan agreement(s) The aoranopment by BaMfbM" of any Such anoun is Mat In no manner limit the right of Beneficiary to
<br />declare TruatWs) in A;~ or aserGas dry of 9WWK ary'a other rignh and ferrladlaa.
<br />fS) inaMevamBerMfieMry is aparrytoahyingabnatMO" tMaedurnyorthe henofthisTruaDeW, includinganyactionbyBanMfcMryssenforcelhMTrust
<br />Data or any Wit in which Benafiiary M named a defendant (including condemnation and bankruptcy proceedings) Beneficiary may incur experign rod Wvwm&
<br />peymens for acemaot fees, amomeye fees (except to the "Sifit prohibited by law). co•M. expenses, appraisal fees and Other charges andany amounts so advanced
<br />shall become pat of the Principal Indebtedness secured hereby. be Immediately due and payable and beer interest as provkl d M the oax agreertent(s).
<br />(6) Anyawar dsmedeteTrwtor( alorteirsuccess" bytheaxsrctwoamirentdomainareherebyuaigmedtoBWe fici&MandBerMibNry Is harebyauthodtW
<br />to Collect and apply the same In payment of any Indebtedness, matured or unmatured, secured by this Trust Dootl.
<br />(7) In the event Trustor(s) default in the payment when due of any sums secured hereby (principal, interest, advancements, or protective Wvanon), or fall to
<br />Worm or observe any covenants and conditions contained heron, in the role($). loan pnernent fs), or any other instruments or any proceeding M brought by or
<br />parrot Trustw(s) underany Bankruptcy hews. Beneficuiry may. at Its Option, declare theentire indebtedness secured hereby to be immediatefydu s and payable and
<br />beer interest at the default rate sa provided In the notefs) or loan agreements) and Beneficiary may immediately authorize Trustee to exercise the Power of Sale
<br />granted harem in the manna providsd in the Nebraska Trust Deeds Act. or, at the option of the Beneficiary, may foreclose the Trust Deed In the manner provided by
<br />Mw for IM tOfWJOSLe Of MAO"" on real property, including the appointment of a Receiver upon ex parts applloatlon, notice being hereby expressly waived,
<br />without rperd to the vakte of the property orthe sufficiency thereof to discharge the indebtedness secured hereby or in the loan agreement(s). Day by Beneficiary
<br />in exercising its rights upon default Mail not be construed as a waiver thereof and any act of Beneficiary waiving any specific default shelf not be construed as a
<br />weiver of any future default. I I the proce$ds under such sale or foreclosure are insufficient to pay the total indebtedness hereby secured, Trusi orp) do hereby agree
<br />to be personalty bawd to pay the unpaid balance. and BsneficMry Mall be entitled to a deficiency judgment.
<br />(6) Should berg lCMry aac1 to exercise the Power of Sat* granted herein. El"iWery Omit notify the Tnnfee who Mall record, publish and deliver to Trustm(s)
<br />such Notre of Default and Notice of Sale as than required by law and shell in the manner provided by law still the Trust Estate at the time and place of sale fixed in the
<br />Notice of Sale, either n a whole or in separate Iota, Parcels or Items and in such order n tin Trunts Mail doom expedient. Any person may bid at the ssle including
<br />Truatorp). Trustee or Beneficiary
<br />(9) Trustor(a)rereby requests copy of any Noticeof Dotaultor Notice of Sale hereunderto be nailed to trMitatthe Wdras(se) a a form hom'n bycenlhed mail.
<br />(10) Upon default, Beneficiary, either "person or by agent, with or without bringing any action or proceeding and with or without regard to the value of the
<br />properly w the sufficiency thereof to discharge the indebtedness Secured hereby, reauthorized and entitled oenW upon and take possession o the Trust Estate in
<br />its own name or in the name of the Truaseand do any deb wexpend any same It deerrns necSesery Of OWfabie to Pr~ w preserve fhe value Of the Trust Estate or
<br />any interest therein, or mcmowthe "COmetheWrom; and with of without taking possession of tin Trust Eefate M wthw)zed ro aM for or OtharwNe Co9ectthe rents.
<br />issues. cry, profits and Income thereof, including those past due and unpaid, and apply Me dam upon any indebtedness eewmW
<br />agresmentfs) hereby of In the loan
<br />NO remedy here" conferred upon w reserved to Trustee or Beneficiary is intended to be excluaw o any other remedy heron orby law provided or permitted.
<br />but each shell be cumulative. Melt be "addition to every Other femedy given hereunder of now or hereaher Misting at law or in equity or by statute, and may be
<br />exorcised Concurrently, kWe(sm W try w — 1011inety.
<br />(11) Trustor(s) a rowledge that the duties aW oblpaerM of Trustee Mau be determined solely by the express provisions of this Trust Dead or the Nebraska
<br />Trust Deeds Act and Trustee Main not be IMble except or the performance of such duties and obligations as are Specifically wt forth therein, and no implied
<br />Covenants Of ObtiAAMOns *M)i bS imposed upon Trusles; Trustee ash not be Ilabte f)r MY action taken by It In good faith and re000nably believed by It t0 be
<br />suttfaited w whet" the di$CWW i Of right$ Of powers conferred upon it by Mw Trust Dead of safe lew.
<br />(12) The integrity and responsibility of iheTnstor(s)COrstltuba a pen of the considaaton for the obllgstbm secured hereby. Should Trustor(s) sell, transferor
<br />convey the propertyC49cribed rMAW . without prior written consent of Beneficiary, Beneficiary MSY. al Its Option. declare theentire Indebtedness immediately due
<br />and payable and may proceed in the enforcement of its rights as on any other default.
<br />(13) AaUgnaMmt of Rents includgq Proceeds of Mien) Lane TruSlorfs) hereby transfer. Set over and convey to Sang i icy, all rernte, royanMs, bonuses and
<br />deMY mOheye fret may tram lmmtb IInMiMCOnnedueand payable under any reel setete Mesa or under any oil. gas or other mineral feaseof any kind now existing or
<br />that may h*MMW Come into existence. covering the above Trust Estate Or any pan awreof. All Such "fins so reoal by Dowficlery Mall be appiled to the
<br />indebtedness secured hereby; or WW Bemeftctery may, at Its option, turn over and drover to the Trustor(s) or their successors In intersat, any or all of such sums
<br />without Prejudice to anyof Bsmficiary's rights to take and its" futureauma, and without PMUG veto any of Its other rights under this Trust Deed. The tmMfer and
<br />Conveyance hereunder m Bert Mlary o o"d rents. myanMS, bonuses and desY moneys 804111 be construed to beg provision for the payment or reduction of the
<br />debt, 11KIII t to the Dole tcery's option as herembefOM provnded, independent of the ken on said TnM Estate. Upon payment in full of the debt and the
<br />reconveyance of this Trust feed of record, the Conveyance Mali bacon* Inoperative and of no further force and ameCt.
<br />(14) The covenoft con reed In t T 4t'L� M ee in o
<br />d all be doomed to be Severable; in t event that arty portion this Trust Deed is determined to be void or
<br />u that tlalm{whMatw rail f ,~ the velony Of the remaining portions of the Trust Dieo
<br />Kenne ,. . C ausen Xaren E. Clausen
<br />STATE OF NEBRASKA )
<br />COUNTY OF L L ) a
<br />-T' )
<br />On this ,19- day of 'T u., Q- L/ A.D., 19 7 , before me, a Notary Public, personally appeared
<br />k-ArA/4p.TS. L C. 44eseAl .4Nd
<br />to me to be the person(s) named iii and who executed the foregoing Acknowledgment and Trust Deed, and acknowledged
<br />than —L�— executed the BMW as �_ voluntary ac
<br />(SEAL) M�1r
<br />e u:� eie
<br />My comOmission A7lplfp (Type or print name under signsture)
<br />Notary Public in and for said County and State
<br />O
<br />(`J O
<br />$
<br />It
<br />
|