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87 104486
<br />ity of this Trust heed and the performance of the covenants and
<br />agreements of Trustor not forth herein;
<br />(d) the repayment of any future advances, with interest thereon,
<br />de to Borrowers or Trustor by Lender pursuant to paragraph 18
<br />hereof; and
<br />(a) the repayment of any other indebtedness of borrowers or Trustor
<br />to Lender, including any and all loans or lines of credit,
<br />whether said loans or lines of credit are due in installments,
<br />periodically, on a revolving basis, or in a lump stn, and
<br />whether said loans or lines of credit result from direct
<br />disbursements, overdrafts, continuing commitment to loan, or
<br />any other basis (THIS PARAGRAPH SHALL NOT C(!NSTITUTE NOR
<br />OTHERWISE BE CONSTRUED AS A COMMITMENT TO MAKE ADDITIONAL LOANS
<br />OF ANY BIND OR IN ANY AMOUNT),
<br />all of which is herein referred to as the "Indebtedness ", Trustor does hereby
<br />irrevocably grant and convey to Trustee, in trust, with power of sale, the following
<br />described property located in the County of Hall, State of Nebraska:
<br />Lot 22, Wildwood Subdivision, Hall County, Nebraska
<br />TOGF;THER WITH (i) all the buildings, structures and other improvements now
<br />or hereafter erected on the property, and (ii) all facilities, fixtures, machinery,
<br />apparatus, installations, equipment and other property now or hereafter located in or
<br />used or procured for use in connection with the operation, maintenance or protection
<br />thereof; and (iii) all additions, accessions, increases, parts, fittings, acces-
<br />sories, or replacements, substitutions, betterments, repairs and proceeds of or to
<br />any or all of the foregoing; (iv) all rights of way, tenements, privileges, heredita-
<br />ment.s, easements, appurtenances, rents, issues, profits, royalties in mineral, oil
<br />and gas rights now and hereafter belonging, used, enjoyed or pertaining to the prop-
<br />erty or any improvement or fixture thereon; and (v) and all proceeds of conversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims,
<br />including, without limitation, proceeds of insurance and comdenation awards (all of
<br />the foregoing are herein called the "Property ").
<br />Trustor warrants and covenants that Trustor is lawfully seized in fee
<br />simple of the Property, that Trustor has the right and power to convey the Property,
<br />that the Property is free from liens, security interests and encumbrances except the
<br />Trust Deed identified and described in paragraph 22 hereof, that Trustor will warrant
<br />and defend title to the Property against all claims and demands whether now existing
<br />or hereafter arising, and that all buildings, improvements and fixtures now or here-
<br />after located on the Property are or will. be located entirely within the boundaries
<br />of the Property. The foregoing warranties shall survive the exercise of the power of
<br />sale herein conferred or foreclosure of this Trust Deed and shall run with the
<br />Property.
<br />TRUSTOR FURTHER COVENANTS AND AGREES AS FOLLOWS
<br />I. VpLication o' f_Prents. Until the occurrence of an Event of Default,
<br />Lender agrees to apply payments made by Borrowers or Trustor to such indebtedness,
<br />liability or obligation owing to Lender as Borrowers or Trustor may specify in a
<br />writing delivered to Lender contemporaneously with such payments. After the
<br />occurrence of an Event of Default or in the absense of such written specification by
<br />Borrowers or Trustor, all payments received by Lender as to any indebtedness or as to
<br />any other debt, liability or obligation owed to Lender by Borrowers or Trustor may be
<br />applied by Lender to the payment of the Indebtedness or to any such other debt,
<br />liability or obligation, in any order or manner of application which Lender, in its
<br />absolute discretion, deems appropriate.
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