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86- 105442
<br />DEED OF TRUST
<br />THIS DEED OF TRUST, made this �_ day of , A.D.
<br />1986, by and between Clayton E. Luther and Marilyn M. ut e , J414.z7__sband and
<br />wife, of the County of Hall an,! State of Nebraska, hereinafter called
<br />"Trustor ", and James I. Shamberg of Hall County, Nebraska, hereinafter
<br />called "Trustee ", and Myron R. Pierce and Doris E. Pierce, husband and
<br />wife, as joint tenants and not as tenants in common hereinafter called
<br />"Beneficiary ";
<br />WITNESSETH, That the Trustor, for good and valuable consideration,
<br />including the debt and trust hereinafter mentioned and created, does by
<br />these presents, irrevocably grant, bargain and sell, convey, assign and
<br />confirm unto the said Trustee, IN TRUST, WITH POWER OF SALE, for the
<br />benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of Trust, the following described real property
<br />situated in Hall County, Nebraska, to -wit:
<br />Lot Seven (7) in Block Two (2) in Spaulding and Gregg's
<br />Addition to the City of Grand Island, Hall County, Nebraska,
<br />TOGETHER with and including all and singular the tenements, heredita-
<br />ments, appurtenances and privileges thereunto belonging or in anywise
<br />appertaining, whether now or hereafter acquired, which shall include,
<br />without limiting the generality of the foregoing, the following:
<br />All of the rents, issues and profits, including all rents, royalties,
<br />bonuses and benefits under any existing or future oil, gas or mineral
<br />or cther leases; all easements and rights of way; all rights of
<br />homestead and homestead exemption and any surviving spouse's marital
<br />or distributive share, and all other contingent rights in and to said
<br />premises; and
<br />All fixtures, improvements, buildings, and the plumbing, heating,
<br />ventilating and lighting systems and equipment therein; all of which
<br />shall be construed and considered as affixed to and part of the real
<br />estate.
<br />All of the foregoing estate, property and interest hereby conveyed to the
<br />said Trustee is hereinafter collectively referred to as the "Property ".
<br />TO HAVE AND TO HOLD the same unto the said Trustee, his successors and
<br />assigns, forever, IN TRUST HOWEVER and WITH POWER OF SALE hereby expressly
<br />granted unto the said Trustee, his successors and assigns, for the purpose
<br />of securing:
<br />(a) The payment of Trustor's just indebtedness to Beneficiary in the
<br />principal sum of One Hundred Thousand Dollars ($100,000.00) for money owed,
<br />with interest thereon, all as evidenced by and in strict accordance with
<br />the terms of that certain promissory note, hereinafter called the "Note ",
<br />bearing even date herewith made payable to the order of Beneficiary,
<br />executed by Clayton E. Luther and Marilyn M. Luther, husband and wife, and
<br />providing for the payment of said indebtedness in installments, the last of
<br />which is due and payable eighteen (18) years from the date of the note .
<br />subject to acceleration of maturity on default in the payment of any
<br />installment of principal or interest or in the performance of any covenant,
<br />agreement or warranty contained in this Deed of Trust;
<br />(b) The performance of each agreement, covenant and warranty of
<br />Trustor herein contained or set forth in the Note or any agreement or
<br />instrument executed by Trustor in connection with the indebtedness hereby
<br />secured; and
<br />(c) The payment of any sum or sums of money with interest thereon
<br />which may be hereafter paid or advanced under the terms of this Deed of
<br />Trust.
<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor
<br />does for himself and for Trustor's heirs, representatives, vanc{er -s, succes-
<br />sors and assit'ins, the owners of said Property, hereby
<br />agree and warrant to and with the Trustee an(] Berieficiarv, .+n i their
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