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7.101
<br />DEED [ TRUST
<br />This Deed of Trust is made this � day of , 19, by and among
<br />Bethphage Development Corporation
<br />hereinafter re ertcd to as Trustor, whose mail. inr address is
<br />Grand Island, .Net AREND R. BAACK, Attorney at Law, hereinafter referred to as "Trustee,"
<br />whose mauling address is P. 0. Box 790, Grand Island, Nebraska 68602; and HOME FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Beneficiary,"
<br />whose mailing address is 221 South Locust Street, P. 0. Box 1009, Grand Island, Nebraska
<br />68802.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and
<br />assigns to Trustee, in trust, with power of sale, for the benefit and security of Bene-
<br />ficiary, under and subject to the terms and conditions of this Deed of Trust, the fol-
<br />lowing described property, located in• Hall County, Nebraska, to -wit:
<br />LOT TWENTY FOUR (24) OF CHATEAU ORLEANS SUBDIVISION, CITY OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA.
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways,
<br />easements, rights, privileges and appurtenances located thereon or in any way pertaining
<br />thereto, and the rents, issues, profits, reversions and the remainders thereof, includ-
<br />ing all such personal property that is attached to the improvements so as to constitute
<br />a fixture, all of which, including replacements and additions thereto, are hereby de-
<br />clared to be a part of the real estate conveyed in trust hereby, it being agreed that
<br />all of the foregoing shall be hereinafter referred to as the "Property."
<br />FOR THE PURP05E OF SECURING:
<br />(a) the payment of indebtedness evidenced by Trustor's note of even, date herewith
<br />in the principal sum of One Hundred Fifteen Thousand and no /Inn----------- - - - - -s -
<br />($ 115,_ 000.0_), together with the balance of such indebtedness, if not sooner
<br />paid, due and payable an S- P„ntemher 19 1007 ; with interest at the rate or rates
<br />provided therein, along with the payment of all other sums, with interest thereon.,
<br />advanced in accordance herewith to protect the security of this Deed of Trust,
<br />together with the principal and interest on any future advance as evidenced by
<br />promissory notes stating they are secured hereby, and any and all renewals, modifi-
<br />cations and extensions of such notes, both principal and interest on the notes
<br />being payable in. accordance with the terms set forth therein, which by this refer-
<br />ence is hereby made a part hereof. The holder hereof shall have the option to
<br />accelerate the maturity of the note for which this mortgage is given as security,
<br />at any time after the NA loan year after first giving the undersigned or
<br />the then owner of the premises described herein a written notice three months
<br />in advance of its intent to do so. At no time shall the principal amount of the
<br />indebtedness secured by this Deed of Trust, not including sums advanced in accord-
<br />ance herewith to protect thesecutity of the Deed of Trust, exceed the original
<br />amount of the note plus $---:E-
<br />(b) the performance of each agreement and covenant of Trustor herein contained;
<br />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 ofthis Deed of Trust, together with interest thereon
<br />at the rate provided in the note.
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees
<br />as follows:
<br />o:.
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