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10
<br />TRUST DEED
<br />This Trust Deed is executed on the date as shown on t)
<br />'Trustor", p1on 0. Strong & Janet K. Strong(Husband
<br />address is 2b Fai rvi ew York. 4ebraska �i84Fj
<br />U* "Borrower (whether one or more), and the Henderson
<br />called the "Trustee ", and the Beneficiary, the Henderson State
<br />Henderson, Nebraska, hereinafter called "Lender ".
<br />87-- 143979
<br />:ate Bank, hereinafter
<br />Bank, whose address is
<br />WHEREAS, the Borrower bted to the Lender in the principal sum of Two Hundred
<br />Seve nty Five Thousand and 00 /�s ($ 275.000-00 }, for money loanecUMr
<br />which amount the Borrower has on various dates executed and delivered a Promissory
<br />Note or Notes, payable to the Lender, together with interest #6pMte cis shown on
<br />the note or notes, the principal and interest payable in ments. The last
<br />installment, if not sooner paid, is due and payable on 19 97
<br />The existing debts and obligations created simultan y with the execution
<br />Trust Deed to the Beneficiary and all extensions, modifications and renewals thereof or
<br />advances made subsequent to the date of this Trust Deed and secured by Trust Deed
<br />shalt be secured by this Trust Deed and shall be referred to in this instrument as the
<br />"Note ".
<br />WHEREAS, the Borrower desires to secure the timely payment of the Note and
<br />full performance of the covenants, conditions and terms contained in this instrument
<br />and any other documents related thereto.
<br />NOW, THEREFORE, under this Trust Deed, the Borrower does in consideration
<br />of (1) existing debts or obligations created simultaneously with the execution of this
<br />Trust Deed, (2) future advances necessary to protect the security transferred
<br />hereunder, (3) any future advances to be made at the option of the parties and/or (4)
<br />the performance of any obligation of any other person named in this Trust Deed to the
<br />Beneficiary, hereby grant and convey unto the Trustee, its successors and assigns, in
<br />trust, with Power of Sale, for the benefit and security of the Beneficiary (Lender),
<br />under and subject to the terms and conditions of this Trust Deed, the following
<br />described property, located in York & Omicky, Nebraska, to-wit-
<br />Hall Counties
<br />See Exhibit "A"
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways,
<br />easements, rights, privileges and appurtenances located thereon or in any way
<br />pertaining thereto, and the rents, issues, profits, reversions and remainders thereof,
<br />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 thereo, are
<br />hereby declared to be a part of the real estate conveyed in trust hereby, it being
<br />agreed that all of the foregoing shall be hereinafter referred to as the "Property."
<br />1. Title. Borrower covenants that Borrower is lawfully seized of fee simple title
<br />to the ,property, free from encumbrances except as herein stated:
<br />See Exhibit "B"
<br />2. Warranty. Borrower will have the right and power to convey absolute title in
<br />fee simple and will warrant and defend the title to the property against all claims
<br />whatsoever except as mentioned.
<br />3. Performance of Obligati. Upon the full payment of all indebtedness or full
<br />Performance of aL" obligations secured by this Trust Deed and the payment of all
<br />the and expenses incurred by the Trustee, the Trustee shall release and reconvey
<br />real property, at Borrower's costs, to the Borrower, or to any party then claiming
<br />through the Borrower.
<br />this 4. Payment and Performance. All loam and other sums or obligations secured by
<br />uxment wiuU be paid when due and the terms and condition, of this ins;trument
<br />and other utstruments related to the indebtedness or obligation secured by this; Trust
<br />will be performed in accordance with the terms of they instrument. This Trust
<br />
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