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<br />1015 NnNman and folio A Wolf, WA4An, Na. 6 MI
<br />DEED OF TRUST
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<br />THIS DEED OF TRUSS', is made as of the tat day of . b 19-&Z, by and among
<br />HARRY J. FARNHAM, 'TRUSTER, ( "Trustor "), who" mailing Address is
<br />1405 North 204 Street, P. 0. Box 466, Elkhorn, Nebraska 68022,
<br />BANK OF WOOD RIVE4, ( "Trustoo"), whose mailing address is
<br />Wood River, Nebraska,
<br />and BANK OF WOOD RIVER, ( "Beneficiary ") whose mailing address is
<br />Wood River, Nebraska
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, convoys and assigno to Trustoo, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms
<br />and conditions of this Dead of Trust, the real property located in the City of County of
<br />Hall State of Nebraska, and legally described as follows (the "Property"):
<br />The Southerly Four Hundred Fifty (450.0) feet of the Easterly Five Hundred Ten (510.0)
<br />j feet of the Southeast Quarter of the Northeast Quarter (SEA NEk) of Section One (1),
<br />Township Ten (10) North, Range Twelve (12) West of the 6th P.M., in Hall County,
<br />Nebraska, said tract containing 5.269 acres more or less.
<br />TOUETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />be err hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all
<br />water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Bust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtness in the total principal amount of $ 50,000-00 with interest
<br />thereon, as evidenced by that certain promissory note of even date (the "Note') with a maturity date of
<br />October 1, 1988 executed by Trustor, which has been delivered and is payable to the order of
<br />Beneficiary, and which by this reference is hereby made a part hereof, and any and all modifications, exten-
<br />sions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the T ust Estate, with interest thereon attherate
<br />of Ten & 1/2 percent ( 10 ) per annum.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Truster shall pay when due the principal of, and the interest on, the
<br />indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES. Truster shall pay each installment of all taxes and special assessments of every kind, now or hereafter
<br />levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and shall provide
<br />Beneficiary with evidence of the payment of same. Truster shall pay. all taxes and assessments which may be levied
<br />upon Beneficiary's interest herein or upon this Deed of Trust or the dobt4ecured hereby, without regard to.any law that
<br />may be enacted imposing payment of the whole or any part thereof upon the Beneficiary,
<br />3. INSURANCE AND REPAIRS. Truster shall maintain fire andextended.coverage insurance insuring the
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note (co- insurance not exceeding 80% permitted). Such insurance policy shall contain
<br />a standard mortgage clause in favor of Beneficiary and shall not be cancellable, terminable or modifiable withoutten
<br />(10) days prior written notice to Beneficiary. Truster shall promptly repair, maintain and replace the Trust Estate or
<br />any part thereof so that, except for ordinary wear and t ear, the Trust Estate shall not deteriorate. In no eventshall the
<br />Truster commit waste on or to the Trust Estate.
<br />i 4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary
<br />or Trustee may appear. Should Truster fail to make any payment or to do any act as and in the manner provided in
<br />any of the Loan Instruments, Beneficiary and /or Trustee, each in its own discretion, without obligation so to do and
<br />without notice to or demand upon Truster and without releasing Trustor from any obligation, may make or do the
<br />name in such manner and to such extent as either may deem necessary to protect the security hereof. Truster shall,
<br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection
<br />with the exercise by beneficiary of the foregoing rights, including without limitation costs of evidence of title, court
<br />cats, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten (10) days of written
<br />demand shall draw interest at the default rate provided in the Note.
<br />R 5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken or damaged by
<br />s remon of any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condom•
<br />i nation ("Conderanation'), or should Truster recive any notice or other information regardingsuch proceeding, Trustor shall
<br />give prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other pay
<br />marts or relief therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name any action
<br />or proceedings. Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or
<br />All such compensation, awards, damages, rights of action and proceeds awarded to Try (tine •'Proceeds ") are
<br />hereby assigned to Bonefidm and Truster agrees to execute such further assignments of the Procoods as Beneficiary or
<br />Trustee may require.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time: by a written instrument
<br />executed and acknowledged by Beneficiary, mailed to Truster and Recorded in the County in which the Trust Estate is
<br />located and by otherwise complying with the provisions of the applicable law of the State of Nebraska substitute a successor
<br />or successors to the Trustee named hen or acting hereunder.
<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto,
<br />their hairs, tom, devimes al representatives, successors and assigns. The term "Beneficiary" shall mean the
<br />owner one! ho&th• of the Note, whether or not flamed as Beneficiary herein.
<br />b.
<br />INSPECTIONS. Beneficiary, or its agents, representatives or workmen, are authorized to enter at any reasonable
<br />time upon or in any put of the Trust Estate for the purpose of inspecting the same and for the purpose of performing any of
<br />the acts it is nuthorized to perform under the terms of any of the Loan Instruments.
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