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Lots Fourteen,(14) and Fifteen (15), Mehring and Giesenhagen
<br />Second Subdivision,, a.Replat of Lot Two Mehring and _Giesenhagen,.
<br />Subdivision, Hall County, Nebraska, excepting therefrom a Tract
<br />of Graound more particularly described in the Deed recorded at
<br />Book 156, Page 400 of the Deed Records of Hall County, Nebraska !
<br />together with all interest which Trustor now has or may hereafter acquire in and to said property and in and to: (a) all ease-
<br />Monte and rights of way:appurtenant thereto; (b) all tenements, hereditaments, buildings, structures, improvements, fixtures,
<br />equipment, furnishings and appurtenances now or hereafter placed thereon; (c) all leasehold estate, right, title, and interestof
<br />Trustor in and'to aU isaies or subleaeei thereof or any portionthereof now or hereafter existing or entered into, and all right,
<br />title, and intereitof Te"tor. thereunder, including, without limitation; all cash or security deposits, advance rentals, and de-
<br />posits or payments of similar nature, and W all mineral; oil, gas rights and profits, water, water rights, and water stock.
<br />Trusterogreea to execute and deliver, from time to time. such furtherinstrv,: Ants as maybe requested by Beneficiary inform
<br />and substance satisfactory to Beneficiary to confirm the lion of this DeeK "sst on any of the aforementioned property. The
<br />property so conveyed to Tzwt a hereunder is hereinafter referred to as ' ouch property"
<br />The Trustor abiolutslyand irrevocably grants, transfers and assigns to I oneficiary the rents, income, issues, and profits of
<br />all property covered by this Deed of Trust:
<br />FOR THE PURPOSE OF SECURING:
<br />1. Pay ent yf the principal sum of One hundred thirty two thousand one hundred thirteen
<br />anc� 13/ 104 -- ---- -------- ------- (5132,17.3.13) -- - --
<br />evidenced by the certain promissory note dated of even date herewith (hereinafter referred to as the "Promissory Note ")
<br />executed by PxrsTier Bank, National Association, Omaha
<br />in said amount and payable to the order of Beneficiary maturing on June 5 1991
<br />together with interest thereon, late charges, and prepayment bonuses according to the terms of the Promissory Note and all
<br />renewals, extensions, and modifications thereof.
<br />2. Performance, discharge of and compliance with every obligation, covenant and agreement of Trustor incorporated by ref -
<br />erence or contained herein or in any other security agreement or deed of trust at any time given to secure any indebtedness
<br />hereby secured, or any part thereof.
<br />3. Payment of all fees and charges of Beneficiary or Trustee, whether or not set forth herein.
<br />TO PROTECT-THE SECURITY OF THIS DEED OF TRUST, TRUSPOR COVENANTS:
<br />TITLE: That it is lawfully seized and possessed of a good and indefeasible title and estate to all of such property in fee simple
<br />free from any prior lien or encumbrance, has good right and lawful authority to convey the same, and will forever warrant and
<br />defend the title thereto against the claims and demands of all persons whosoever, that it will, at its expense, maintain and pre -
<br />serve the lien of this Deed of Trust as a first and paramount lien upon such property.
<br />MAINTENANCE: To keep such property in good condition and repair; to complete or restore promptly and in good and
<br />workmanlike manner any building which may -be constructed, damaged or destroyed thereon and to pay, when due, all claims
<br />for labor performed and materials furnished therefor and for any alternations thereof; to comply with the provisions of all
<br />insurance policies covering said premises. to comply with all laws, ordinances, regulations, covenants, conditions and restric-
<br />hons affecting such property; not to remove, demolish or materially alter any building, or the character or use thereof at any
<br />time thereon; not to drill or extract nor to permit the drilling for or extraction of oil, gas orother hydrocarbon substances, water,
<br />or any mineral of any kind unless the written consent of Beneficiary is had and obtained; not to commit or permit any waste
<br />thereof or any ad up :n such property in violation of law; to do all other acts in a timely and proper manner which from the
<br />character or use of such property maybe maeonably necessary to protect and preserve said security, the specific enumerations
<br />j herein not exciuding the general.
<br />I CONSTRUCTION OF IMPROVEMENTS: To complete in good and workmanlike manner any building or improvement or
<br />"pair Mating thereto which maybe begun on such property or contemplated by the loan secured hereby, to pay when due all
<br />coats and liabilities incurred therefor, and not to permit any mechanic's lien against such property. Trustor also agrees, any-
<br />thinft in this heed of Trust to the oontrory notwithstanding; (*)to promptly commence work and to complete the proposed tin.
<br />pri)vements promptly, tb) toromplettoome in accordance with plena and specifications as approved by Beneficiary, (o to cum
<br />ply withal] of the terms of any building loan agreement between Trustor and Beneficiary, the terms of which are incorporated
<br />h"*in by reftrenc:e to the came *%tent amt if fully set forth herein and made apart of this Deed of Trust, (d) to allow Beneficiary
<br />t(w inspect such property sit all times during construction. and lei to replace any work or materials unsatisfactory rn Rene -
<br />ficinty, within fifteen E 1611 days after written notice from iteneficiary of such fact, whtcl: notice may he given to Trustor by reg
<br />�Aterrkt nr certified mail. sent to his mast knower address, or by perwinal service of the satne-
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