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86-104219
<br />DEED OF TRUST
<br />THIS DEED of Trust is made as of the day of
<br />..•;, -- , 1986, and among,
<br />THOMAS S. NABITY and JEANNE M. NABITY, each in
<br />his and her own right and as the spouse of each
<br />other,
<br />"TRUSTOR"
<br />whose mailing address is 2704 Arrowhead, Grand Island, NE 68801
<br />WILBUR J. MCCUMBER,
<br />"TRUSTEE"
<br />whose mailing address is Rural Route 1, Wood River, NE 68883,
<br />and BANK OF WOOD RIVER, Wood River, Nebraska, a Nebraska
<br />Banking Corporation,
<br />"BENEFICIARY ",
<br />whose mailing address is Wood River, NE 68883.
<br />FOR VALUABLE CONSIDERATION, Trustee irrevocably trans-
<br />fers, conveys, and assigns to Trustee, IN TRUST, WITH POWER OF
<br />SALE, for the benefit and security of Beneficiary, under and sub-
<br />ject to the terms and conditions of this Deed of Trust, the real
<br />property located in the City of Grand Island, County of Hall,
<br />State of Nebraska, and legally described as follows (the "Property "):
<br />Lot T,,., (2) , Medical Park Fourth Subdivision
<br />in the City of Grand Island, Hall County,
<br />rt
<br />Nebraska.
<br />TOGETHER with all rents, easements, appurtenances, here -
<br />ditaments, interests in adjoining roads, streets, and alleys,
<br />improvements and buildings of any kind situated thereon and all
<br />personal property that may be or hereafter become an integral
<br />part of the buildings and improvements.
<br />The Property and the entire estate and interest conveyed
<br />to the Trustee are referred to collectively as the "Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount
<br />of $250,000.00, with interest thereon, as evidenced by that cer-
<br />tain promissory note of even date (the "Note ") with a maturity
<br />date of August 1, 1996, executed by Trustor, which has been
<br />delivered and is payable to the order of Beneficiary, and which
<br />by this reference is hereby made a part hereof, and any and all
<br />modifications, extensions and renewals thereof, and,
<br />b. Payment of all sums advanced by Beneficiary to protect
<br />the Trust Estate, with interest thereon at the rate of 11 percent
<br />per annum, adjustable semiannually to a rate 3 percent over the
<br />lowest published New York prime bank rate as indicated in the
<br />Wall Street Journal, with a minimum rate of 10 percent and a
<br />maximum rate of 13 percent per annum. Payments of principal and
<br />interest are payable in amortizing payments with the first such
<br />payment payable September 1, 1986, and in the amount of $3,443.75.
<br />Interest rate adjustments shall be effective February 1 and August
<br />1 each year and for the next succeeding six -month period. The
<br />monthly, amortizing payments shall be similarly adjusted.
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