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GONTS:a 86, 10510
<br />DEED OF TRUST - - - - --
<br />This Deed of Trust is made this 8th day ofPt,.Ei1117er - , 19 � by and among - - Wan A.- - -
<br />Neigbbors and Lori J. Nei rS. H145Vggct and Wire hereinafter referred to as " Truster,°
<br />whose mailing address is . ' i� exan is �alm. PUS Arend R. Baack
<br />Attorney at Law, hereinafter referred to as 'Trustee " whose mailing.addrea5 is ,-
<br />- - GrBiltl lasland, NE f3�Z ; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as -
<br />" - "Beneficiary," whose mailing address is P. 0. Box 1688, Grand Island, Nebraska 68802. - -
<br />For valuable consideration, Truster irrevocably grants, transfers, conveys and assigns to Trustee, in
<br />trust, with power of sale, for the benefit and security of Beneficiary, under and subject to the terms and
<br />- conditions of this Deed of Trust, the following-described property, located in Ball- -, county, - -
<br />Nebraska, to -wit:
<br />Lot One (1), Block Nine (9), Original Town of Cairo,
<br />Hall County, Nebraska.
<br />- together with all buildings, improvements, fixtures, streets, alleys, passageways; easements, rights, privt -, -
<br />leges and appurtenances located thereon or in any way pertaining thereto; and the rents, issues, profits,
<br />- reversions and the remainders thereof, including all such personal property that is attached to the improve- - -
<br />- -_ meats sous to constitute a fixture, all of which, including replacements and additions thereto, are hereby -
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<br />- declared to be a part of the real estate conveyed in trust hereby, it being agreed that all of the fore-
<br />going shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING: -
<br />- - - - (a) the payment ofindebtedness - evidenced by Trustor's note .ofeven date herewith in -
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<br />the principal am of _Ten Thousand Five Hundred &,_ „(fi 1 ©,500.00 ), together
<br />- - with interest at the rate or rates provided therein, or cti cIpal-and.Snterest on any -- -
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<br />future advance not to exceed the total principal sum initially secured 'hereby as evidenced
<br />- - by promissory notes stating they are secured hereby, and any and all renewals; modifications
<br />-
<br />” - - - "and extensions of such .notes, both principal and interest on- -the notes being payable in - -
<br />- - accordance with the terms set forth therein, which by this reference is hereby made a part
<br />hereof;
<br />- (b)- the performance of each agreement and covenant of Truster herein contained; and - -
<br />. (c) the payment of any sum or sums of money which may be hereafter paid or advanced
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<br />- by Beneficiary under the terms of this Deed of Trust, together with interest thereon at the
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<br />_ - rate provided in the note. - -
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<br />To protec� the security of this Deed of Trust, Truster hereby covenants and agrees as follows:
<br />1. Payment of Indebtedness. " To pay when due, the principal of, and the interest . on, the indebted-
<br />ness evidenced b the note, charges, fees and all other sums as
<br />Y g provided in the loan instruments.
<br />_
<br />- - 2. Title. Ttastor is the owner of the property and has the right and authority to execute, this _-
<br />" Deed of Trust in respect to the property. - - - - - -
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<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and .all - -other charges - -
<br />- against the property, before the same become delinquent, and, in the -event Beneficiary shall so require, - - --
<br />to add to the payments required under the note secured hereby, such amount as may be sufficient to en- -
<br />- able Seneflei.ary to - pay -such taxes, assessments or other charges -as -they become due. '- - -
<br />-
<br />4 Ins..; -cote. To keep the improvements now or hereafter located on the real estate described-
<br />- herein insured against damage by fire and such other hazards as Beneficiary may require,. in amounts and
<br />- companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss under such -- -
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<br />, ,'Policies, Beneficiary is authorized to.adjusc, collect and compromise, in its discretion, all claims
<br />.thereunder aad,- at its sole opt -ion, is auti:orized to either apply the proceeds to the restoration of the
<br />- property or upon the indebtedness secured hereby, but payments required by the note shall continue until
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<br />- the swan secured hereby are paid in full.
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<br />. - 5. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improve-
<br />- ments now or hereafter an the property; to keep the property in good - condition and repair, without waste -
<br />and free from mechanics or other .liens not expressly subordinated to the lien hereof; to not make, suffer
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<br />or permit any nuisance to exist nor to diminish or Impair the value of the property by any act or omission
<br />to act; and to comply with all requirements of law with respect to the property.
<br />- 6. Condemmation. In the event the property, or any part thereof, shall be taken by eminent domain, - -
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<br />-- _ Beneficiary is-entitled to collect and receive all compensation which may be paid for any property taken
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<br />or for damages to property not taken, and Beneficiary shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness secured hereby or to repair and restore the property so taken.
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<br />- 7. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which - -
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<br />Trnstor has agreed but failed to do, and Beneficiary may also do any act it deems necessary to 'protect
<br />- the lien hereof. Truster agrees to repay, upon demand, any sums so expended by Beneficiary for the -
<br />above purposes, a" any sum so expended. by Beneficiary shall be added to the indebtedness secured here-
<br />- by and become secured by the lien hereof, Beneficiary shall not incur any personal liability because of
<br />- anything it may do or omit to do hereunder. - -
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<br />- -, - -- - - -- 8- .--- rlasixtm s of- Rents- Beneficiary shall. have th`e - right; power and authority Suring the con- - - - -- -- --
<br />- -, - -- - --
<br />- .- tl¥utance of this .Seed of Trust To collect the rents, - issues and - profits of the property and of any per- --
<br />-
<br />_- s,mal, property located thereon vith or without taking possession of the property affected hereby, and
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<br />- Truster hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary. -
<br />Beneficiary, however, hereby consents to Truster's coI.lection and retention of such rents, issues and -
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<br />- profits as they accrue and become payable, so long as Truster is not, at such time, in default with re-
<br />"$Pact- to payment of any indebtedness secured hereby, or in the performance of any agreement hereunder.
<br />- If 'any event of default described hereafter in respect to this Deed -of. "Trust -shall have occurred and be
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<br />continuing, Beneficiary, as a matter of right and without notice to Truster or anyone claiming, under
<br />Trwtstor, and without regard to the value of the trust estate or the interest of the Truster therein,
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<br />shall have the right to apply to any e.ourt having luri,&!,tt�on to appoint a receiver of the property.
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<br />` v. 1pvecticmai, Beneficiary, or its agents, rrprrnertatives or workman, are authortzed to enter
<br />- h
<br />at racy reasonable title upon er in any part of the property fcr the purpose o sad
<br />inspecting the same ad
<br />f0t the purpose of performing any n£ thr. acts it lu assth:urized to perferm ;order the terms of env loan -
<br />-
<br />tnmtrument.,o o- Apcuted l,y Truutor,
<br />I fa, [tilYly�1 eY 1r irtAlse t;t f, if all or and p,�rL C tlaif• t`Tf.Ptr ' ;sy' 1i7r inteFel�t :�1 Pr,+tn, t'.1'O'Vln
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