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<br />CONTS:dQ/M 046
<br />DEED OF TRUST
<br />This Deed of Trust is made this 3rd day of August i9 87 , by and among Kenneth W. Staab
<br />Lot Weilty One (21). Holemb Highway homes. a Subdivision of Hart of
<br />the Northeast darter of the Northeast Quarter (NEJNEJ), and part of
<br />WdnlFuR, all in tion Eight 8) Township Eleven (11)
<br />North, Range Nine (9) lest of the 6th P.N. in Hall County, Nebraska.
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways. easements, rights, privi-
<br />loges and appurtenances located thereon or in any way pertaining thereto, and the rents, issues, profits,
<br />reversions and the remainders thereof, including all such personal property that is attached to the improve-
<br />ments so as to constitute a fixture, all of which. Including replacements and additions thereto, are hereby
<br />declared to be a part of the real estate conveyed in trust hereby, it being agreed that all of the fore-
<br />. going shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by Truster's note of even date herewith in
<br />the principal sum of Eighty Thousand Dollars & No /10t x.000.00 ), together
<br />With interest at the rate or rates provided therein, or the principal and interest on any
<br />future advance not to exceed the total principal stn initially secured hereby as evidenced
<br />by promissory notes stating they are secured hereby, and any and all renewals, modifications
<br />and extensions of such notes, both principal and interest an the notes being payable in
<br />accordance with the terms set forth therein, which by this reference is hereby made a part
<br />hereof;
<br />(b) the performance of each agreement and revenant of Trustor herein contained; and
<br />(c) the payment of any sum or sums of money which may be hereafter paid or advanced
<br />by Beneficiary under the terms of this need of Trust, together with interest thereon at the
<br />rate provided in the note.
<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-, the principal of, and the interest on, the indebted-
<br />ness evidenced by the note, charges, fees and all other sums as provided in the loan instruments.
<br />2. Title. Trustor is the owner of the property and lies the right. and authority to execute this
<br />Deed of Trust in respect to the property.
<br />3. Taxes and Asansawnts. To pay, when due, all taxes, special assessments and all other charges
<br />against the property, before the some become delinquent, and, in the event Beneficiary shall so require,
<br />to add to the payments required under the note secured hereby, such amount as slay be sufficient to en-
<br />able Beneficiary to pay such taxes, assessments or other charges as they become due.
<br />L. Insurance. To keep the improvements now or hereafter located on the real estate described
<br />herein Insured against dawage by fire and such other hazards as Beneficiary may require, in amounts and
<br />companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss under such
<br />policies, Beneficiary is authorized to adjust, �iollact and compromise, in its discreticm. all claims
<br />thereunder and, at it" sole optloo. is authorised to either apply the proceeds to the restoration of the
<br />property or upon the Indebtedness secured hereby, but payments required by the note shall continue until
<br />the sum secured hereby are paid in full.
<br />S. Ir, Maintenance and Use. TO prcmptly repair, restore or rebuild any buildings or improve -
<br />Ls now or hereafter on the property; to keep the property in good condition and repair, without waste
<br />and free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer
<br />or permit any nuisance to exist nor to diminish or impair the value of the property by any act or omission
<br />to act; and to comply with all requirements of law with respect to the property.
<br />6. Condemnation. in the event the property, or any part thereof, shall be taken by eminent domain,
<br />Beneficiary is entitled to collect and receive all compensation which may be paid for any property taken
<br />or for damages to property not taken, and Beneficiary shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness secured hereby or to repair and restore the property so taken.
<br />F. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which
<br />Trustor has agreed but failed to do, and Beneficiary may also do any act It dome necessary to protect
<br />the lien hereof. Trustor agrees to repay, upon de- ---nd, any stars so expended by Beneficiary for the
<br />above purposes. mad any am so expended by Beneficiary shall be added to the indebtedness secured here-
<br />by and became secured by the lien hereof. Beneficiary shall not incur any personal liability because of
<br />anything It may do or omit to do hereunder.
<br />g. Asia to of Rents. Beneficiary shall have the right., power and authority during the con-
<br />tivusmoo thin Deed of Trust to collect the rents, issues and profits of the property and of any per -
<br />I property located thereon with or without taking possession of the property affected hereby, and
<br />Truster hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Truster's collection and retention of such rents, issues and
<br />PMfits as the? accrue and become payable, so long as Trustor is not, at such time, in default with re-
<br />t to pa. of any Indebtedness secured hereby, or In the performance of any agreement hereunder.
<br />If any event of default described hereafter in respect to this Deed of Trust shall have occurred and be
<br />continuing, Deaftfirler7t as a matter of right and without notice to Trustor or anyone claiming under
<br />Trustor, MA without regard to the value of the trust estate or the interest of the Trustor therein,
<br />shall hove the right to apply to any court having jurisdiction to appoint a receiver of the property.
<br />9. I 1 Beneficiary, or its agents, representatives or workmen. are authorized to enter
<br />at sal reasonable time or to my part of the property for the purpose of inspecting the same and
<br />for the PUTPOSe Of performing any of the acts it is authorized to perform .alder the terms of any loan
<br />ingtrmmtw s "I"! by Trustor.
<br />ltd. (r lea o! rpta ,re #'j_ It all or any part 4 the pre. arty or any Interest of i'ruKtor therein
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