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DEED OF TRUST 8$-- 103854
<br />THIS DEED OFTRUST is made this IOCh day of June
<br />19 86 amonttlieTrugor, LARRY J. KELLY AND - ARLENE F. KELLY, HUSBAND AND WIFE
<br />(hadis "Dourrower'7. AREND`R.13AACK. ATTORNEY AT LAW
<br />(Agra,• "'Tower"). and the Benef(dary, NOME FEDERAL (i VMU i LOAN ASSOCIATHM OF GRAND ISLAND NE
<br />a aotpotati oa orpAi ted and existing tumaa the laws of NEBRASKA whose address is 221 SOUTH LOCUST. P. O. BOX 1009,
<br />QRAND MAW NE am (herein .-Lender '.)
<br />BORROWER, in oonsiderallim of the indebrahuss herein recited and the oust herein crated, irrevocably grants and conveys to Trustee,
<br />intrust. with power of age, the following described property locnied in the county of HALL
<br />State of Nebraska:
<br />THE EAST HALF OF THE SOUTHEAST QUARTER (ELSE'a), THE SOUTHWEST QUARTER OF THE SOUTHEAST
<br />QUARTER (SW4SE4), AND THE EAST FIFTEEN (15) ACRES OF THE SOUTHEAST QUARTER OF THE SOUTH -
<br />WEST QUARTER (SE4SW,), SECTION ONE (1), TOWNSHIP ELEVEN (ill, RANGE NINE (9), HALL COUNTY,
<br />NEBRASKA, EXCEPT UNION PACIFIC RAILROAD RIGHT -OF -WAY, AND EXCEPT A STRIP ONE (1) ROD WIDE
<br />OFF THE WEST SIDE OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER (SW;SE0 , AND EXCEPT
<br />THAT PART OF THE SOUTH HALF OF THE SOUTHEAST QUARTER (S15SE' -4-) DEEDED TO THE GEER COMPANY,
<br />A CORPORATION, BY WARRANTY DEED RECORDED IN BOOK 95, OF DEEDS AT PAGE 437, AND TO GEER
<br />SALES, INC., A CORPORATION, BY WARRANTY DEED RECORDED IN BOOK 115 OF THE DEEDS AT PAGE
<br />457 AND TO GEER COMPANY BY WARRANTY DEED RECORDED IN BOOK 158, OF DEED RECORDS AT
<br />PAGE 243 AND TO WILBUR DONALD HILLMAN BY WARRANTY DEED RECORDED IN BOOK 180 OF DEED
<br />RECORDS AT PAGE 237 OF THE OFFICE OF THE REGISTER OF DEEDS OF HALL COUNTY, NEBRASKA, ALSO
<br />EXCEPTING THEREFROM A CERTAIN TRACT OF LAND MORE PARTICULARLY DESCRIBED IN WARRANTY DEED
<br />RECORDED AS DOCUMENT NO. 81- 001753
<br />which has the addressof___R,R, 4i4ox 155 _ Grand Island
<br />Nebraska
<br />(STREET) ~ - — - - --- - - - - - - -- (CITY)
<br />Hall County, 68801: - ----- theran"ProtxrtyAddress "):
<br />(( (STATE & ZIP COUP)
<br />TOGETHER with all the improvements now or hereatter erected on the property, and all casements, rights, appurtenances, rents
<br />(subject however to the rights and authorities given herein to Lender to collect and apply such rents), royalties, mineral, oil and gas rights and
<br />profits, water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replacements and
<br />additions thereto. shall be deemed to be and remain a part of the property covered by this Deed of Trust; and all of the foregoing, together with
<br />said property (or the leasehold estate if this Deed of Trust is on a leasehold) are herein referred to as the "Property ";
<br />I TO SECURE to Linder (a) the repayment of the indebtedness evidenced by Borrower's note dated June 10, 1986
<br />I (herein "Note"), in the principal sum of NINETY ONE THOUSAND TWO HUNDRED DOLLARS AND N 100 - --
<br />--- Dollars,
<br />with intents t thereon, providing for monthly installments of principal and interest, with the balance of the indebtedness, if not sooner paid, due
<br />acid payable on July 1. 2001 — — ; the payment of all other um,
<br />with interest thereon, advanced In accordance herewith to protect the security of this shed of Trust; and the performance of the covenants and
<br />agreements of Borrower herein contained; and (b) the repayment of any future advancrs. with interest thereon, made to Borrower by Leader
<br />ptrstsant to paragraph 21 hereof (herein "Future Advance ").
<br />Harrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property,
<br />that the Property is unencumbered, and that Borrower will warrant and defend generally the title to the Property against all claims and
<br />demands, subject-to any dec)aradoms, tasemesus or restrictions listed in a schedule of exceptions to coverage in any title insurance policy
<br />insuring Leader's isLareat in the Property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. hl'wt K lriecipel aN INered. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced
<br />by the Note. prepaystsw and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed
<br />Of Trust.
<br />2. 9ada she Tessa ad Iarursroa. Subjea to applicable law of to a written waiver by Lender, Borrower shall pay to Leader on the day
<br />monehltr isKaWeeas cd principal and interest are payable under the Now, unul the Note is paid in full, a sum ( herdn "Funds ") equal to onc-
<br />e twelfth of the yeat'ly taxes and: assessments which may attain priority ova this Deed of Trust, and ground rents on the Property. if any. pats one-
<br />1 W*M of yearly premkpa daatallmmu for hazard insurance. plus one- twelfth of yearly premium Installments for mortgage insurance, if any. all
<br />asmso ably estimated Uu Wly aid from time to time by Lender on the back of assessatemu s and bills and reasonable estimates thereof.
<br />The Ptmds stub be Arid is an listitution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including
<br />Leader if Ieidee is sucb an imkuaion). Lender shall apply the Funds to pay said tare. msessments, insurance premiums and ground rents
<br />Lander may not charge for tics holding and applying the Funds. analyzing $aid account or verifying and a mpshng said assessments and slits.
<br />udw Leader papa Horrowtr Interest on the Funds and applicable law permits Lender to make such a charge Borrower rod I ender may agree in
<br />writdtig M the irate of execution of this Deed of Trust that interest on the Funds shall be pad to lkurowrr, and untev% uich agTremeno a made it
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