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<br />TRUST DEED 86-saw 0240.1
<br />THIS TRUST DEED, made this / day of May 19 86
<br />be and between:
<br />(A) Ronald C. Krauss and Vada Krauss, husband and wife,
<br />whether one or more, herein-
<br />after called " Trustor" whose mailing address is Doniphan, NE 68832
<br />and
<br />(B) John A. Wolf
<br />as "Trustee" whose mailing
<br />address is Suite 201, Norwest Bank Bldg., Box 460, Grand Island, NE 68802 and
<br />(C) West Third Development Corp., Inc.
<br />2717 S. August, Grand Island, NE 68801 as "Beneficiary" whose mailing address is
<br />WITNESSETH: That Trustor, in consideration of One Dollar ($1.00) and other valuable consideration receipt
<br />whereof is hereby acknowledged, grants, conveys, sells and warrants to Trustee, in trust, with power of sale, the
<br />following described property, situated in Hall County, Nebraska:
<br />The Northeast Quarter of the Southeast Quarter (NEJSE})
<br />of Section Three (3), Township Nine (9), Range Ten (10)
<br />West of the 6th;P.M., Hall County, Nebraska, located in
<br />the Southplatte Township consisting of 40 acres more or
<br />less, and also one acre for road purposes along the south
<br />side of the NE;SE4.
<br />The intention being to convey hereby In absolute title In fee simple, including all the rights of homestead and
<br />dower, together with all buildings, fixtures, Improvements and appurtenances thereunto belonging; and all of the
<br />foregoing, together with said propcYrty are herein referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING performance of each agreement and covenant of Trustor herein contained
<br />and the payment of the principal sum of Twenty —Five Thousand Dollars ($ 25,000.00 )
<br />as evidenced by a promissory note bearing even date at the rates of Interest thereon which may hereafter be paid
<br />or advanced under the terms of this Trust Deed; both principal sum and Interest thereon being payable according
<br />to terms set forth In said promissory note, reference to which Is hereby made, at the office of the Beneficiary or at
<br />such other place as the holder may designate In writing, the final payment of principal and Interest, If not sooner
<br />paid, shall be due and payable on the 1st day of May 1996
<br />Trustor and Beneficiary covenant and agree as follows:
<br />1. Wairsny N Tins. Trusts Is lawfully seized of IM PtOpefty: it has good right and
<br />Iaw1u1 Aulnany to sell and tonal IM Property, tee Property N ed If" ti clear of till
<br />hear and encumbnncee excwpl Real I Of fwad; and TNela will warrant and
<br />dst0hd the halls to IM PfOpinly unto the TfuslN and Its suceea*@ra tied &Swghe
<br />forever, against the claims of all persona. TfuziOr, W 116 Npeow, will mainWn and
<br />psageM IM Ilan o1 MIS Trust Dead all a flea upon the Trust Properly stlDiwt only to
<br />anculnorances Ssf511119 as of tan dew hereof, WIN Couee Itba Trust Dead, and each
<br />alMndmMl Of Supplement Marano. to be tread slYd recorded se a man~ of the
<br />Trust Propeny,n sucn manner and In such plan, and win tell@ Such other actim u
<br />In IM Opinion of Trustee may be required by any Present or tutors law In Older to
<br />perfect , m w einla and Protwl the lien of this Trull Dead. ne the woe may be from
<br />11".4 to time amended or euppiamanled
<br />2. Payelanl M f•rMCIpN ale IatsrNL Trustor shall puntlually pay IM PrlMlpei Of.
<br />and Interest an. said apmtaaoty hole Including any adyarwe thWaIO as Prp+id@d
<br />Haan On the darn and at the place and In the manna Provided thereby and will
<br />Punctually perform N1.gle.mants, I'Villons am prowalons of any other eecurny
<br />1141rurn"t glen In ConnaClkn with this trallsac1i01L
<br />1 ISNOW"dan ens Malelaaeaso M Pr". W. Twaror Will not commit any ewe
<br />upon tan PnowlY and will, s,1 AN Iia—. malntaln the Same In good order and
<br />condition and will man a, from Nine to time, an roWs, fahewaia, feplK6Mnt6,
<br />adM$10" said ImpfovartNnl6 which are raasOnably rw Mad to Pr «ant waste,
<br />hrIPMlfrllo111,
<br />or delerloralan of "to Properly. No bWldhlg of httpro"Ment now at
<br />hereelW erected upon 1M PtOWY Male be alWad, teWnY*@ or dwnoo~
<br />without the pia written Consent of Beneficiary.
<br />a Deelege re Ploperty. In cane of any damage 1o, or destruction al. the building..
<br />lrafif r>MMS a Perso l PlOperly COMIduling Pont of IM Trust Property, whether
<br />Such loss is covered by Insurance a ofhslwles, Tfuslof, a jig sole cost and
<br />expense, w10 OfOrnally INlore, rape&, replace aid rebuild the same as Maly ne
<br />pIaClKable IO IIS eonOftwn ImmediNNY pilot 10 NKh damage a 0*@11uetion of with
<br />such changes aria Ntasllons as Truala IMY again apPrDPrlate provided such
<br />engage$ ate ailenUoM de Mt materially brawl the value aW utility of such
<br />ouildmgs, ImPf uranwnls ate P*16o ly from that totaling ImmwdigWy pride 10
<br />wcn damage or Oeef,"l,,,a lrustw ,MN be .milled to rsor"seemerlt from IM
<br />Tlualee 141M extun W IM
<br />not mwt— PrOCteds received by Trust", bul only to
<br />IM S>nni Of Ny actual Sum eapoWed under this Prorllaldr2
<br />5 CO SNaN fluster It tf-tW Is a eapwallon. It will do all Ming. fec.smy IO
<br />Vow.* Its Capufate to IvIMGe, IIgMa and plYlleges under IM to-Sol IM stale 01
<br />A9 mcmpWSl,On
<br />4 InaWanca. 1,u91w. al d9 OapalYN, will nioon.a .,In 1--, sop, -" by
<br />Ifuwl,cuf,.
<br />111--4. wren n6pwt t0 the In1Pr0vennlrn1$ aide petsonal NopSltr.
<br />lut,nyj nw N,.-,petty agunst toss by Irra hilhining, laaado, and other pares
<br />arnd U, s endu,:......"a --u. .1d. WrMnr In an n.wd K,ual lO of
<br />--1 ill Ina I;,,I IWlatwrwnl -I- li.—t, end In -
<br />byja.'.al cu.n n1MI hie: r;'J9 . +N ,r'• a.,r'n amount !s a custor- I11ar,y0 by haw -I.
<br />antl her a;�r> .f .r it y.I.Perlwe ,red err 1IeMfKy1, ma, Inpul,e IW Ile
<br />I..la. n.,r� tlr:at:'• w„ .r,,, ;.;y —.n ulher leyunsn;ans as benehciary IM,
<br />r,.rl: ,.r,.r ,. I. *.r .syi'eyl ,c nw lr•�'o.:,w, UI rte >ur anCe tit the ,ntare>I 01 IM
<br />f"Pwlha Pont". All hnlwande POlklea 111slntalned pursuant to Ihie Trust Deed
<br />suit Items Truants am BerWkNry, M lnaw@", se that: fespeoth@ InrNsets may
<br />appear, and provide that Iltere aMN be no cancellation at m001flcallon without
<br />fifteen days Prior written Mld"Idef to Trustee and Beneficiary. In the @vent any
<br />Policy Mnundsl' N not falawerl on of before fifteen days prkr to Ire aspiration
<br />dale. Trvslaa OF BanaHCINY may PrOCUM Much Insurance and IM cowl thereof shall
<br />be added to the loan "Cured by tits True! Deed and Men bear foreseer at tan
<br />prosier Of IM MWesl rate @Will" therNn or the highest Internet rate authorized
<br />by the laws of tan Btere of Nebraska. Tnotor Wall dNIvN to flulelklay, the alglnal
<br />Pri cur Of hueural9de aid renew thereof W nwllo coping of such policies, and
<br />ren@wate thereof. FaNure a h~ hlduf. a by TrusW, or nnowele ne leq.1md
<br />hereendat Shur. St nla /JPrNn a aorlalkiary, canlhlte a default. AN unearned
<br />p WMl we notably ,Signed to Tnlelee as addlllonal security and a nete and
<br />conwyaMe of !M ►rogery by the Trustee shall opernle to coley, to IM purchaser
<br />IM Tn--W- If Wheat in OW sell poles of hlewna upon the Trust Properly.
<br />7. Tax" W AsoonomMM. Tnnlor shall pay ualev t,ex,ea and special *@at to
<br />levied a So..44 apahle! a dW upon the ROpaly bar.. delinquency. and will
<br />d@iwar to tyerlNWintry COW of receipts snowing payment of such taane ship
<br />sPwlal deb"W Onla. if Bane ielary on" so saluael, Truslor apnea that there soil
<br />be added 10 Mewl periodic payment ropuhed 10 tie nlade IntSunder M amounl
<br />estimated by Trustee to to Sufficient to enabb Trusla to pay. at brook 3D Oars
<br />before dMrlgl OVICY, ale lase,, aN*@MMnits a ofM1 public charges against tan
<br />Trust PrOWY, IM NOW secured by -No Trull Deed, at upon account of the debt or
<br />the hen of this Tura Deag, 1090 tar with prfNnNNM for IMwance requNed to be
<br />PrOMded undo( IN& Trust Dead aid nc Internet shall be payable to Trusts in
<br />( *$Pact thOW1. Upon demand by Truslee, Trusts Mall deliver to Trustee such
<br />additional sums of th00ey *@ N$ naceewy to make up any dehcfency in the
<br />amounts necessary loanable Tiust*@to pay any of IM foregoing noms.
<br />a. Additional Uses. Trwlor Shall make all psymenle of Iniaraal and principal and
<br />PaymerM of erly OIMr Charges, fore, mo "Pehe*@ contracted 10 be Paid to any
<br />*@I81InG INn holdwa w prof b"Ic7MNa under any prior TrWI Deed, Mortgage or
<br />offer "Curtly agreement, before the data the, an d"nQuenl and to pay any inner
<br />ol&n WWII papaftttaee fan aaadry grenlad natant.
<br />I. PmlNO n M Banoh@Wo Bawdy. should Tfuston fall to make any paymem,
<br />fell to do any ill se hereto pwvNted, or if any whin or proceeding is commenCea
<br />which mater" alfedta B"WiNY's Interest In the PIOWV, Including, but not
<br />limited lo. MNMnI oomai, IMolellcy, allanyjorn -to a pfcceedia" lavolving a
<br />bankrupt Of d$oodW. IMa Berlaf elary of Trust*@ but w11hiwl obligation to do so.
<br />and without nOtICS to Of dMnnd upon T1u$1a,, and without Massing Trustor horn
<br />My obligation hereunder, may make a do In$ sanM, aW ntey pay put" ".
<br />cWfte61 W cOnlPranlee My anctinIM ac6, charge a IIM, wh.1h Ia IM iWgemeni of
<br />enher Spoilage t0 allwt *@id Pfapoi1w. In e>elclal,l61 My Inch Pdwerl IM
<br />8— lwlaty W Truing —Y IMuf any liability un0 -Pad whot.— amount.,
<br />IMtua mg OisOura@Rlentl of Iwwnebis NIw My's feel, wtbch m IMa ab. ,to
<br />d,Knt:M, may Pre rwceltuy. in the areal 1M1 Tfuuu, soul tan Iu lylauuy
<br />InaYlan..a W 10 Pay 1.04. no aP-,.. 1s, N98awn15 ur lu n:aae any {:ay mtlnie IV
<br />a.INmu W 1>tlol lyre holdus w beMb:;uye, tan Nenel�„acY mar . u.r.y ,u.n
<br />In,unYncs slid make wVn Vlyn'wa11 A.i ♦�nls ,y. ��rW .., arJe:,,JV,f U, Na:,a!�.iuy
<br />w irulnee In eccOrdanue wan tan p, JVlf �ulla ill In,e Sr.,sl lyaa:J air ee. W his: et:Y
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