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TRUST DEED
<br />8s_io4i44
<br />THISTRUST DEED, made this - _,..'`_ day of -hdv ____,19 86 ,
<br />be and between:
<br />(A) William F. Harris & Virginia M. Harris, Husband & Wife
<br />, whether one or mores herelfi-
<br />after called "Trustor" whose mailing address is 6 larp- Crand Tel an Nebrac{La
<br />and
<br />(g) The: <Legal & Professional Corporation of Howard E. Tracy
<br />as "Trustee" whose mailing
<br />address is 706 Wear Yna> 'Grand Island, Nebca =4,;k and
<br />(C)- Northwest National Bank
<br />as "Beneficiary" whose malling address is
<br />2008 N. Webb Road, P.O. Box 2095, Grand Isalnd. Ne 68802
<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 Westerly Half of Lot Two (2), and all of Lots Three (3),and
<br />Four (4), Block Eighteen (18), in Rollins Addition to the City
<br />of Grand Island, Hall County, Nebraska.
<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 property 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 Sixty Five Thousand Dollars (S 65, 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 25th day of July .19 91
<br />*And also as this note may be extended, renewed or modified in writing.
<br />Trustor and Beneficiary covenant and agree as follows:
<br />1. of Milk. Truster Is lawfully felted of the Property: It haft good #left[ dew
<br />101ftW ftdhw 1y to "1 Ond conrsy Ina P/opwty; the Pfdpaty Is 1146 slid cna of all
<br />"M OW endumbte#K" ell "PI lions now of raced; and Trushf will warrant and
<br />relarw 146 11110 to 146 Progeny unto the Trustee end its sueceseas and aselgM
<br />%raw, agaMMt IM calms of all persons. Truslor, at Its expanse, will maintain am
<br />P &Wft* the town Of lhte Truer Dead "a Inn upon tan Trust Properly subject Only to
<br />I.rlcuawfaKee saowtlrlp M Of the data heredl, will cause this Trust Deed, and each
<br />anMnawnt err wpPN#Mnt Iherelo, to be fluid and recorded as a mortgage of In*
<br />Trues hopaly in such manna and In such place, and will tae such other actin M
<br />In IM 0Ph11or1 Of Trust" AMY be laquhed by any present w future raw In order to
<br />Perfect. maMlaln and protect the Inn of Ihi" Trues Died. as the sans may be from
<br />IoM Io11nks amended or wpplaMnlW.
<br />2. Pep low t SIP Ine she alaweeL Truslw shall punctually pay Ina principal of.
<br />a" in . On, Ado PfORO"OrY note intluding any Advances perato ere prorlded
<br />harNn On this last" and at tan place ehd n IM inanMr W-kMO thereon and .111
<br />parlctuaft pe110rre elf egreeMnta, conditions and provisions of any OIMr security
<br />NMleumaM Bann In fwnMCtbn with this transaction.
<br />1 Pfe$ MMM MM MawluMMO N Py"alY. Trustor will not commit any wash
<br />upon the PrOWY and Will, 81 ail times. rhatntaln the same In good wow ens
<br />condition ran will make, from IoM to tine, all rapane, raMwale, replacement$,
<br />bdNlten* PM hhploranM t, which ere reasonably required to prevent waste,
<br />httptlntlrnL
<br />of deterlwalic n N said pniparlY. No building or tmproy imenot now w
<br />tMIMNa arecwla UPON IM Pr.PWIY Mast be alered. ramored or d6.0ush"
<br />WMIOY[ law "w "Itan colleen, Of BerwiKuiry.
<br />4. MMM Is Ptrpaly. In cane of any damage to, or destruction of, the buildings,
<br />M1PtOMMOM a POe i properly eo lltetutg pat of IM Trust Property, wfether
<br />Pooh Idea w cOYar" by Insurance a onlerat". Truslot. of its add cost arld
<br />"Panels. won ptanpity testae, repair. f*place and rebuild the same as neah as
<br />predtl!t w its cond llw MPnl 40y Prier to such tlamaee a tl46truction a with
<br />aYCh Omengee and aiwrtllOM M Truelot mey deem appropriate prow"" sucft
<br />dMMes aM ahaNfaM do not tMterI&" I46een the yaw am utility of such
<br />automotive, IrllproeemeM* and owsonaft fran that "hens Immediately prier to
<br />a1t0ft 4~ Of "Mln$Chen. True1w tlwh be • 4II10d to lalmwalamerll Iran the
<br />TrwaW to the "wan OI the net nwmance proses recNwd by Treat ", but ooh to
<br />Bw awes of the wow rum expend" user, ton prows cift
<br />B. L'.er0 1 Tf461w. It TruNa 10 • cerperatiwl, it will do all things rMceaasry to
<br />presem ne cafforeas asnlsnoe, ngnie and prwpew" under the laws of IM sww of
<br />46 uieetPaN10n.
<br />B hleetaeM. Tleata. N Its expwtse, will malrolern .inn onlurws approved by
<br />Ba10hcnly. India .Nh veep -1 to tan lmpro ok ent. and ww w property.
<br />M1WN111h1g the Property egeltlst had by 1". lighinne, tornado. and other pail"
<br />"sans by standard "w"" Corvallis, endpre"men1. In an amount equal to at
<br />MM ode hundred paoertl N tan fell raptac~l talus, thereof, and Insurance
<br />odener weh eww haw"" and M such tee. owl as to Cuelwma,h carded by owns,.
<br />Isla eParoters er euMlet properties and as beMllciay may reqW.. I. Ira
<br />pralesnan T*4N .n Iompry wan such other raquir—fs es Bane/Krary may
<br />trrlsl halls te IMM raqueet to owe Prwacron toy reurarKt w Ina -W"i of the
<br />reepecllra parties. All Inaurence policies maintained pursuant to this Trust Data
<br />Mali name Trustee and Banaflcnry as Insureds, as their r"Wit" Interests may
<br />appear, and prOVld" that then anall ba no cancellation or thodlfiCalton without
<br />fifteen days poor wrlllan nolIfIC Ilan to Trustee and Beneficiary. In tan "eent any
<br />policy hereunder it not tinawad on w before fifteen days prior to its e,prnuon
<br />dale, Trustee w Beneficiary may procure such Insurance sw tan coal thereof shell
<br />M added to the loan secured by ems Trust Do" and call boar interest at IM
<br />glteler of If. Interest raft specified thereln w tan highest merest rate aufhortad
<br />by IM laws of tan &alt, of Nebraska. Truslpr Mall daiWa to BaMIKiary tha Orlglnsi
<br />policies of Insurance and iaMwala thereof w memo copies of au,,h.ppfKles and
<br />renewals thereof. Failure to fulnlM insurance by Trllstw, w leMleNS as required
<br />hereunder Mall, at the coil" of Bshe!ici.q. constitute a default. Air unesrned
<br />Premiums ere hereby assigned 1. Trustee as addnwal security and is sale and
<br />Vnrelience of IM Properly by the Trustee Mall opaals to convey to the pufchaeer
<br />the Trustor'a Inlete.l m and to an policies of nimance upon the Trust Property.
<br />7 Taxes and A.eeasments. Trustor anal: pay an taxes and special NHSamenls
<br />farted w assessed against Or due upon the Properly before delinquancy, and will
<br />Mhrar to 9enstrciary ccptts of receipts Mowing payment of such taxes and
<br />spacial assessments it Beneficiary shall to request. Trustor agrees that that* shall
<br />M added to each periodic torment required to be made hereunder an amount
<br />tahmated by Trustee to oe sufficient to enable Tiuslw to pay, al least 30 days
<br />Moore delinquency. an t ... a. aslOot —ants or dine: public CMrg" against IM
<br />Trust PMCPerly, the Not. aeculsd by'his Trust Deed, or upon account of IM debt w
<br />Ina Ilan of this Trust Deed, together with premiums Iw insurance required to M
<br />pruwded under this Trust Deed and no Interest Mill he payable to Truslw in
<br />respect Maloof Upon demand by Trustee, Truslw shat amoral to Trustee such
<br />addilional sums of money as are necessary to make up any dellctahcy In the
<br />a.Ounls necessary to enable Truslae to pay any of the foregoing Items.
<br />IL Addli eMl Lions. Truslnr shall make all payments of mIw.st and principal aM
<br />payments of any other Chagas, less, and expanses coniracled to M paid teeny
<br />existing lion holder. or prow b"eflctatles under any prof True; Deed, Mori~ w
<br />0146, WuiIly aQ,--t, Mfw. tan data they are derMuerlt and to pay any wher
<br />clam which IeOpaoues the security granted herein.
<br />g. PtaMehee N BenellootWe Becwlty. should Trustw Ad to make any payment,
<br />felt to do any "I as herein fiformed, w If any scllon w proceedrrlp 11 comrhenced
<br />welch materially affect. Beneficiary's Inlereal in IM Property, including, but MI
<br />gmned to. amm ent domaln, Inaoir.ncy, enanperhenta w prmctadinea In wining e
<br />bankrupt or decadent, then BaMflctary a Trustee but without obggatnn to do W
<br />and without notice to w demand upon Truelw, and without retesting Truew from
<br />any obhgst.— hens.". may make w do Ina Mme, ens may pay, purchase,
<br />con : -1 w comprorese any encuntwanc4 charge w lion, which In IM judgement of
<br />either aPosills to stlect said Property. in txaciahlg any such powers tan
<br />Beret-ory w Trustee may incur any liabhity and .zpw,d waste— amtounts,
<br />inciuding disbursements of IeeWruble aitwney's fees, which in their ►'isa'!!:ta
<br />dlprtion, may be — olseeiy In tan .raj Into fruit. shall 1.1 to prdcwe
<br />Inwranc. w 10 Da, I—, and swou so .....Han,. OI IC ma.e any ",—I. to
<br />ari."N w pllw Ile- nuh)ara ., MMrn.ia,,as lief B.nef,Grary •nay p+ocw• tucn
<br />Insurance a- male. ol—rl garment• All whir iota ao i.r -nded Oy a.nllK i.ry
<br />. #!uses In e: — Me wain the ul- e!Orlt 11 In!. N-1 JaMI e!a —W iwr.by
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