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<br />In
<br />10,5 87- 104213 Hultman and Felton d Wolf Walton. Ne 66961
<br />F
<br />DEED OF TRUST
<br />THIS DEED OF TRUST, is made as of the 14th day of July 19--9-7 by and among
<br />Leo Jacobsen and Leona Jacobsen, Husband and ( "Trustor "), whose mailing address is
<br />wife Minden, Nebraska
<br />The First National Bank of Minden, Nebraska, �<
<br />a Trustee"), whose mailing address is
<br />banking corporation organized under the laws o�
<br />the United States of America Mipde , Ndbra A$a
<br />and The First National Bank of Minden ( "Beneficiary whose mailing address is
<br />Minden, Nebraska
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms
<br />and conditions of this Deed of Trust, the real property located in the City of Grand I s 1 a nd , County of
<br />Ha 11 State of Nebraska, and legally described as follows (the "Property"):
<br />Lot Twenty -Two (22) in Block Four (4), Morris Second Addition,
<br />an Addition to the City of Grand Island, Hall County, Nebraska
<br />TOLxETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />streeW and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all
<br />water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtness in the total principal amount of $ .6 0 0 - 0 0 with interest
<br />thereon, as evidenced by that certain promissory note of even date (the "Note ") with a maturity date of
<br />June 22. 1992 -executed executed by Trustor, which has been delivered and is payable to the order of
<br />Beneficiary, and which by this reference is hereby made a part hereof, and any and all modifications, exten-
<br />sions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon st the rate
<br />of 9-7 percent ( 9 - 7 p,) per annum.
<br />'Phis Deed of Trust, the Note, and any other instrument given to evidence or further secure the paymentand
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on, the
<br />indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereafter
<br />levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and shall provide
<br />Beneficiary with evidence of the payment of same. Trustor shall pay all taxes and assessments which may be levied
<br />upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that
<br />may be enacted imposing payment of the whole or any part thereof upon the Beneficiary.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire andextended coverage insurance insuring the
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note (co- insurance not exceeding 80% permitted). Such insurance policy shall contain
<br />a standard mortgage clause in favor of Beneficiary and shall not be cancellable, terminable or modifiable without ten
<br />(10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or
<br />any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no eventshall the
<br />Trustor commit waste on or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Truster shall appear in and contest any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary
<br />or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in
<br />any of the Loan Instruments, Beneficiary and./or Trustee, each in its own discretion, without obligation so to do and
<br />without notice to or demand upon Trustor and without releasing Trustor from any obligation, may make or do the
<br />same in such manner and to such extent as either may deem necessary to protect the security hereof. Trustor shall,
<br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection
<br />with the exercise by beneficiary of the foregoing rights, including without limitation costs of evidence of title, court
<br />costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten (10) days of written
<br />demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate. or any part thereof or interest therein, be taken or damaged by
<br />reason of any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condem-
<br />nation ( "Condemnation "). or should Trustor revive any notice or other information regarding such proceeding, Trustor shall
<br />give prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other pay -
<br />ments or relief therefor, and shall be entitled atits option to commence, appear in and prosecute in its own name any action
<br />or proceedings. Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or
<br />damage. All such compensation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds!') are
<br />hereby assigned to Beneficiary and Trustor agrees to execute such further assignments of the Proceeds as Beneficiary or
<br />Trustm may require.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument
<br />executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Trust Estate is
<br />located and by otherwise complying with the provisions of the applicable law ofthe State of Nebraska substitute a successor
<br />or successors to the Truster named herein or acting hereunder.
<br />7. SUCCESSOR.ci AND AISNIGNS. This Deed of Trust applies it,, inures to the benefir of and binds all parties hereto,
<br />their heirs, legatees, device%%_ personal representatives, successors and assigns. The term "Reneficiarc" shall mean the
<br />owner and ha of the Note, whether or not named as Beneficiary herein.
<br />H. INSPF:('T IONS. Beneficiary, or its agents. representattivet; or workmen, are authoripeti to enter at any reasonable
<br />time upon or in any part of thr Trust Fstate for the purpose of inspecting the some and for the pur),ow, id twrfornting any of
<br />the, r"Its it is atothorirevl to nerf4ttt tinder the terms of any of the Lean lnrtruments
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