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<br />CONTS.d. Was— 105568
<br />DEED OF 1'RUi;T
<br />This Dead of Trust is made thsa _ .day of_5Wqgttff 19_W r, by and among VA ,_ alkowlak
<br />_ _ , hereinafter referred to as Trustor,"
<br />oaa sae g a drama to �1a-;
<br />Attorney at Law, herainafter ra orrdd to as Trustoo, w41040 mailing addraas is � I
<br />and THE OVERT RD NATIONAL. BANK OF GRAND ISLAND, haraina tax ra erred to as
<br />Ban -ciary, whose mailing aaarose in P. O. Box 1688, Grand Island. Nebraska 68692.
<br />For valuable consideration, Truster irrevocably grants, 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 and
<br />conditiona of this Dead of Trust, the following- described property, located in __-I% 1_,_ ,GotaatY,
<br />Nebraska, to -wit.
<br />Dolt 5 Block 15 Schiiners ?leldition
<br />together with 411 buildings, improvamenta, fixtures, streets, allays, passageways, easements, rights, privi-
<br />leges and appurtenances located thereon or in any way pertaining thereto, and the rents, issues, profits,
<br />reversions and the remainders thereof, including all much 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 an the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by Trustor's note of even date herewith In
<br />the principal sum of FOur thousand twenty!- one& jKLIgg s ), together
<br />with interest at the rate or rates provided therein, or the principal and interest on any
<br />future advaflce not to exceed the total principal sum 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 cn the notes being payable in
<br />accordance with the terms set forth therein, which by this reference Is hereby wade a part
<br />hereof;
<br />(b) the performance of each agreement and coveuar.t of Trn "tor 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 thin heed of Trust, together with interest thereon at the
<br />rate provided in the note.
<br />To protect the security of this Geed of Trust, Trustor hereby covenants and agrees as follows:
<br />1. P.aMnt of Indebtedneas. 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 an provided in the loan Instruments.
<br />2. Title. Truster is the owner of the property and has the right and authority to execute this
<br />Deed of Trust in respect to the property.
<br />3. Taxes and Assessments. To pay, when due, all taxes, special ansessments and all other charges
<br />against the property, before the saw become delinquent, and, In the event Beneficiary shall so require,
<br />to add to the payments required under the note secured hereby, such amount an may be sufficient to en-
<br />able Beneficiary to pay such taxes, assessments or other charges an they become due.
<br />4. Insurance. To keep the improvements now or hereafter located on the real estate described
<br />herein insured against damage by fire and such other hazards as Beneficiary may require, in amounts and
<br />componles acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss under such
<br />policies, Beneficiary is authorized to adjust, collect and compromise, in its discretion, all claims
<br />thereunder and, at its mole option, is authorized 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 suss secured hereby are paid in full.
<br />5. Repair, Maintenance and Uee. To promptly repair, restore or rebuild any buildings or improve -
<br />sents 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. Condemation. 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 />7. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which
<br />Treater has agreed but failed to do, and Benefi;aary may also do any act it deems necessary to protect
<br />the lien hereof. Truster agrees to repay, upon demand, any sums so expended by Beneficiary for the
<br />above purposes, and sty seas so expanded by Beneficiary shall be added to the Indebtedness secured here-
<br />by and become 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 />S. Aasi nt■ of Rents. Beneficiary shall have the right, power and authority during the con -
<br />timuamce of this Dead of Trust to collect the rents, issues and profits of the property and of any per-
<br />sonal property located thereon with or without taking possession of the property affected hereby, and
<br />Truster hereby absolutely and unconditionally assigns all much rents, Losses and profits to Beneficiary.
<br />Beneficiary. however, hereby consents to Trustor's collection and retention of such rents, issues and
<br />profits ss they accrue and becom payable, so long as Truster is not, at such time, in default with re-
<br />spect to payment of any Indebtedness secured hereby, or in the performance of any agreement hereunder.
<br />If any avant of default described hereafter In respect to this Deed of Trust shall he" occurred and be
<br />continuing. Beneficiary, as a matter of right and without notice to Truster or anyone claiming under
<br />Truster, and without regard to the value of the trust estate or the interest of the Trustor therein,
<br />shall the right to apply to any court having jurisdiction to appoint a revolver of the property.
<br />9. JA*Leqim1. Beneficiary. or Its agents, representatives or workmen, are authorized to enter
<br />at any reasamable: time urn or in any part of the property for the purpose of in^,spectinq the some and
<br />for the purpose of performing any of the acts it Is authorized to perform under the terns of any loan
<br />instruments executed by Trustor.
<br />10. 'ire e'g� of ro rey. If all or nay part of tire property or any intaTast of Trustor thereon
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