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<br />DEED OF TRUST QQ�% w 104302
<br />(Open End ultipls Note) MI
<br />by and among
<br />at Law, hereinafter referred to as
<br />and THE OVERLAND NATIONAL BANE: OF GRAND ISLAND, hereinafter referred to as
<br />address is P. 0. Box 1688, Grand Island, Nebraska 68802.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveya and designs to Trustee,
<br />in trust, with power of sale, for the benefit and security of Beneficiary, under and subject to the
<br />terms and conditions of this Dead of Trust, the following- described property, located in Hall
<br />County, Nebraska, to -wit:
<br />Lot 12, in Block 1, Jack Voss Second Subdivision,
<br />Hall County, Nebraska
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, andaments, rights,
<br />privileges and appurtenances located thereon or in any way pertaining thereto, and the rents, issues,
<br />profits, reversions and the remainders 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 Promissory 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 sums advanced to protect the security or interest
<br />accrued, shall not exceed the sum of irty ThoLa_nd & NO / 100 - - -_($ 30.000•M ):
<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 may be hereafter paid or advanced by
<br />Beneficiary under the terms of this Deed 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? principal of, and the interest on, the in-
<br />debtedness evidenced by the note, charges, fees and all other sums as provided in the loan instru-
<br />ments.
<br />2. Title. Trustor is the owner of the property and has the right and authority to execute
<br />this Deed of Trust in respect to the property.
<br />3. Taxes and Assessments. 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 amount as
<br />may be sufficient to enable Beneficiary to pay such taxes, assessments or other charges as they
<br />become due.
<br />so
<br />q. 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 lose payable to Beneficiary. In case
<br />of loss under such policies, Beneficiary is authorized to adjust, collect and compromise. in its
<br />discretion, all claims thereunder and, at its sole option, is authorized to either apply the pro -
<br />ceeds 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 />5. Repair, Maintenance and Use. 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 mechanics or other liens not expressly subordinated to the lien 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 omission to act; and to comply with all requirements of law with respect
<br />to the property.
<br />6. Condemnation. In the event the property, or any part thereof, shall be taken by eminent
<br />domain, Beneficiary 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. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act -
<br />which Trustor has agreed but failed to do, and Beneficiary may also do any act it demo necessary
<br />to protect the lien hereof. Trustor agrees to repay, upon demand, any sums so expended by Bene-
<br />ficiary for the above purposes, and any arm so expended by Beneficiary shall be added to the in-
<br />debtedttess secured hereby and become secured by the lion hereof. Beneficiary shall not incur any
<br />personal liability because of anything it may do or omit to do hereunder.
<br />8. Igsapmntiotns. Beneficiary, or its agents, representatives or workmen, are authorized to
<br />L enter at any reasonable time upon or in any part of the property for the purpose of Inspecting the
<br />same sad for the purpose of performing any of the acts it is authorised to perform under the terms
<br />of any loan instruments executed by Trustor.
<br />9. Aseigp _Amq of Rants. Beneficiary shall have the right, power and authority during the
<br />continuance of this Deed of Trust to collect the rents, issues and profits of the property and of
<br />any personal property located thereon with or without taking possession of the property affected
<br />hereby, and Trustor hereby absolutely and unconditionally assigns all much rents, issues and profits
<br />to Beneficiary. Beneficiary, however, hereby consents to Trustor'n collection and retention of such h"
<br />rents, issues and profits as they accrue and become payable, so long as Trustor is not, at such time,
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