|
8G CONT5:d GM
<br />DEED 'M01 2 3
<br />�^,'-�^,_7,�is Dea6d pf Truest` is ode this 30th day of December 19 by and among Ralph C.
<br />Ml�+a•+t anQ Je8n `�'��`•`� S1J d wi f hereinafter referred to as "Trustor,"
<br />r whose mailing address is t, 3 JJox 1.48A. (irand Isiand— r�Yend ]33aC�t
<br />` Attorney at Law, hereinafter referred to as "'trustee," whose mailing address i— . L
<br />(:rand Tcltartrl NF' FiQQl and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as
<br />"Beneficiary,^ whose mailing address is P. 0, Box 1688, Grand Island, Nebraska 68802.
<br />For valuable consideration, Trustor 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 />conditions of this Deed of Trust, the following- described property, located in Hall County,
<br />Nebraska, to -wit:
<br />The South One -Half of the South One -Half of the Northeast Quarter
<br />(SJSJNE}) of Section Twenty -three (23) Township Twelve (12), Range
<br />Nine of . , Hall County, Nebraska. . !i_THe-
<br />(NA- SjNE'- )
<br />ol section 'Amenty-three , s 1p 'I ve ge 'ine , West
<br />Of the 6tirz^ 'rti �—_ �cfitt3i> -c , �debs —
<br />together with all buildings, improvements, fixtures, streets, alleys, 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 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 "Prooertv."
<br />FOR TH£ PURPOSE OF SECURING:
<br />p(a) pal paymenkpf intc bttednnensg gvide d b TrpOsCq s notb od2.e�r„ date herewith in
<br />the rind al sum of 1n1 iQ1 LL�ZiVree § c 1111 S(S , UWU 1, 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 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 an the notes being payable in
<br />accordance with the terms set fortis therein, which by this reference is hereby made a part
<br />hereof;
<br />(b) the performance of each agreement and covenant of I'rustor 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 Deed of Trust, together with interest *_hereon 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 rote, charges, fees and all other sums as provided in the loan instruments.
<br />2. Title. Trustor 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 assessments and all other charges
<br />against the property, before the same 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 may he sufficient to en-
<br />able Beneficiary to pay such taxes, assessments or other charges as 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 />companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of Joss under such
<br />policies, Beneficiary is authorized to adjust, collect and compromise, in its discretion, all claims
<br />thereunder and, at its sole option, is authorized to either apple 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 sums secured hereby are paid in full.
<br />5. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improve-
<br />ments 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 />i. 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 deems necessary to protect
<br />the lien hereof. Trustor agrees to repay, upon demand, any sums so expended by Beneficiary for the
<br />above purposes, and any sum so expended 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 />8. Aaslgnments of Rents_. Beneficiary shall have the right, power and authority during the con-
<br />tinuance of this Deed 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 />Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Trustor's collectian slid retention of such rents, issues mid
<br />profits as they accrue and become payable, so long as Trustor is net, 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 event of default described hereafter in respect ro this Deed of Trust shall have nrcurred and be
<br />continuing, Beneficiary, as a matter of right and without notice to 'hurter or anyone rlalming under
<br />'Trustor, slid without Yecard to the value o t.
<br />f the trust. et,ate c•r ht. Interest of e Trust r therein.
<br />L shall nave. the right to app•v. r, anq court having irteit ti n c ppulrt a pen eiv r of th Iroperty.
<br />4. Insk!ertlons, Be rs•f iclar•, at Its t. rr s, t. t.+n t l ve s ,.t .a r onrn, ere Ants, 11..,d t 1 rnt,.t
<br />Mt any rpasnnable t Lace upon <,r In eats part o1 , rropert � for the p,lr� otir .. , L•, �. ! r nc lr =an:o ;r;... �.
<br />fnr the purpose rf perf nolnrt ar•; -,f :!10- ;et t•, .r, ;r! iz�•, o ,.•rforr, .nde. , he ,rrm, t rm•r „•.,a,;
<br />l nstr uaenta cxec,rtvol
<br />:C t•aasf er •f i•r , •.e rr 1' '! -
<br />M
<br />
|