|
104174 GOHTSs b
<br />iW D 01 TTg..UUSI
<br />(Open d Multlp3e Note)
<br />Trust is made this 6th day of �� , 19s7 , by and g
<br />as
<br />at Law. hereinafter referred to as
<br />and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as
<br />address is P. 0. Boa 1688, Grand Island. Nebraska 68602.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to Trustee,
<br />In trust, with paver of sale, for the benefit and secure -ty of Beneficiary, under and subject to the
<br />term and conditions of this Dead of Trust, the following- described property, located in Hall
<br />County, Nebraska, to -wit:
<br />Lot 8, Imperial Village Eighth Subdivision, City of
<br />Grand Island, Hall Cogmty, Nebraska.
<br />together with all buildings, improvements, fixtures, streets, allays, passageways, easements, rights,
<br />privileges and appurtenances located thereon or in any way pertaining thereto, and the rants, issues.
<br />profits, reversions and the reminders thereof, including all such personal property that is attached
<br />to the improvements so as to constitute a fixture, all of which, including replacements and additions
<br />thereto, are hereby declared to be a part of the real estate conveyed in trust hereby. it being agreed
<br />that all of the foregoing shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of personal Indebtedness owing from Trustor to Beneficiary, as
<br />evidenced by rroaiesory Notes of various dates in the total present principal amount of
<br />(b) the payment of interest at the rate or rates provided in the afore- described notes and
<br />the payment of both principal and interest on any and all renewals, modifications and extensions
<br />of such notes;
<br />(c) the payment of principal and interest on any future advance as may be evidenced by
<br />promissory notes stating they are secured by this Deed of Trust; provided, however, that the
<br />total principal indebtedness, not including sum advanced to protect the securit or interest
<br />accrued, shall not exceed the sea of dirty Thousand & No /loo- ----{S
<br />(d) the performance of each agreement and covenant of Trustor herein contained; and
<br />(a) the payment of any sum or sum of money which may be hereafter paid or advanced by
<br />Beneficiary ender the term of this Dead of Trust, together with interest at the highest
<br />rate 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 due, th-3 principal of. and the interest on, the in•
<br />debtedness evidenced by the note, charges. fees and aal other sum as provided in the loan rostra.
<br />manta.
<br />2. Title. Trustor is the owner of the property and has the right and authority to execute
<br />this Do" of Trust in respect to the property.
<br />3. Taxes and Assessmants. To pay, when due. all taxes, special assessments and all other
<br />charges against the property, before the same become delinquent, and, in the event Beneficiary
<br />shall so require. to add to the payments required under the note secured hereby, such mount as
<br />may be sufficient to enable Beneficiary to pay such taxes, assessments or other charges as they
<br />become due.
<br />b. Insurance. To keep the improvements now or hereafter located on the real estate
<br />described herein insured against damage by fire and such other hazards as Beneficiary may require
<br />in amounts and companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case
<br />of loan ender such policies, Beneficiary is authorized to adjust, collect and compromise, in its
<br />discretion, all claims thereunder sue, at its sole option, is authorized to either apply the pro -
<br />ceads to the restoration of the property or upon the indebtedness secured hereby, but payments
<br />required by the note shall continue until the sums secured hereby are paid in full.
<br />S. gepair, MmintM!ace and the. To promptly repair, restore or rebuild any buildings or
<br />Improvements now or hereafter on the property; to keep the property in good condition and repair,
<br />without waste and free from mchanics or other liens not expressly subordinated to the lion hereof;
<br />to not make, suffer or permit any nuisance to exist nor to diminish or impair the value of the
<br />property by any act or emission to act; and to comp ?; with all requirements of law with respect
<br />to the property.
<br />6. tim t
<br />. In the event the property, or any part thereof, shall be taken by eainen
<br />demaim. _2!9aed
<br />a iY chary is entitled to collect and receive all compensation which may be paid for any
<br />property taken or for damages to property not taken, and Beneficiary shall apply such compensation,
<br />at Its option, either to a reduction of the indebtedness secured hereby or to repair and restore
<br />the property so taken.
<br />7. Perfermenco by Bonaiciary.
<br />agr to Beneficiary may, btu stall have no obligation to, do any act
<br />which Truster has Weed but failed do, and Beneficiary may also do any act it deers necessary
<br />to protect the Has bersef. Treater agrees to repay, upon demand. any sums so expanded by Bene-
<br />ficiary for the above purposes, and say am so expended by Beneficiary shall be added to the in-
<br />Kcured larsby and become secured by the line hereof. Beneficiary shall not incur any
<br />Personal liability because of anything it may do or omit to do hereunder.
<br />S. Imoe9et1M*. beneficiary. or Its agents, representatives or workmen, are authorized to
<br />aecor at any reasonable time upon or in any part of the property for the purpose of inspecting the
<br />sus and for the purposie of performing any of the acts at is authorised to perform under the term
<br />of any lam lastrume to executed by Truster.
<br />9. M of ft Beneficiary shall have the right, power and authority during the
<br />cone 's o this Dead 0 Trust to collect the rents. Inoue* and profits of the property and of
<br />any pe 1 Property located thermos with or without taking possession of the property affected
<br />hereby, and Truster hereby absolutely and unconditioaaily assigns all such rents, issues and profits
<br />to 000611clary. Beneficiary. however. hereby cement* to Trustor's collection and retention of such
<br />remits, t profits as they averse and become, payable, so long an Truster is not, at such t.tae.
<br />
|