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DEED OF TRUST • 86- 105668
<br />THIS DEED OF TRUST, made this list day of October 19 86 , between
<br />Kenneth L. Mueller and Joan L. Mueller, husband & wife as Trustor,
<br />Firdlier Bank, National Association, Omaha, Nebraska as Trustee,
<br />FirsMer Bank, National Association, Omaha, Nebraska as Beneficiary;
<br />WITNESSETH:
<br />That Trustor irrevocably grants, transfers and assigns to Trustee in trust, with power of sale, the following described
<br />property:
<br />Lot Three (3), Warren subdivision, located in Grand Island,
<br />Hall County, Nebraska.
<br />together with all interest which Trustor now has or may hereafter acquire in and to said property and in and to: (a) all
<br />easements and rights of way appurtenant thereto; (b) all tenements, hereditaments, buildings, structures, improvements,
<br />fixtures, equipment, furnishings and appurtenances now or hereafter placed thereon; (c) all leasehold estate, right title,
<br />and interest of Trustor in and to all leases or subleases thereof or any portion thereof now or hereafter existing or entered
<br />into, and all right, title, and interestof Trustor thereunder, including, without limitation, all cash or security deposits, advance
<br />rentals, and deposits or payments of similar nature, and (d) all mineral, oil, gas rights and profits, water, water rights, and
<br />water stock. Trustor agrees to execute and deliver, from time to time, such further instruments as may be requested by
<br />Beneficiary in form and substance satisfactory to Beneficiary to confirm the lien of this Deed of Trust on any of the
<br />aforementioned property. The property so conveyed to Trustee hereunder is hereinafter referred to as "such property ".
<br />The Trustor absolutely and irrevocably grants, transfers and assigns to Beneficiary the rents, income, issues, and profits
<br />of all property covered by this Deed of Trust.
<br />FOR THE PURPOSE OF SECURING:
<br />1. Payment of the principal sum of Sixty thousand one hundred thirty two and 19/100 - - - --
<br />----- -- ---- -($60, 132.19) Dollars-------- -- ----- -- - - - --
<br />evidenced by the certain promissory note dated of even date herewith (hereinafter referred to as the "Promissory Note ')
<br />executed by FirsTier Bank, National Association, Omaha
<br />in said amount and payable to the order of Beneficiary maturing on October 1. 1990
<br />together with interest thereon, late charges, and prepayment bonuses according to the terms of the Promissory Note
<br />and all renewals, extensions, and modifications thereof.
<br />2_ Performance, discharge of and compliance with every obligation, covenant and agreement of Trustor incorporated by
<br />reference or contained herein or in any other security agreement or deed of trust at any time given to secure any
<br />indebtedness hereby secured, or any part thereof.
<br />;2
<br />3. Payment of all fees and charges of Beneficiary or Trustee. whether or not set forth herein.
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS:
<br />TITLE: That it is lawfully seized and possessed of a good and indefeasible title and estate to all of such property in fee
<br />simple free from any prior lien or encumbrance, has good right and lawful authority to convey the same, and will forever
<br />warrant and defend the title thereto against the claims and demands of all persons whosoever; that it will, at its expense,
<br />maintain and preserve the lien of this Deed of Trust as a first and paramount lien upon such property.
<br />MAINTENANCE: To keep such property in good condition and repair; to complete or restore promptly and in good and
<br />workmanlike manner any building which may be constructed, damaged or destroyed thereon and to pay, when due, all
<br />claims for labor performed and materials furnished therefore and for any alterations thereof; to comply with the provisions
<br />of all insurance policies covering said premises, to comply with all laws, ordinances, regulations, covenants, conditions
<br />and restrictions affecting such property: not to remove. demolish or materially alter any building, or the character or use
<br />thereof at any time thereon; not to drill or extract nor to permit the drilling for or extraction of oil, gas or other hydrocarbon
<br />substances, water or any minerolof any kind unless the written consent of Beneficiary is had and obtained; not to commit or
<br />permit any waste thereof or any act upon such property in violation of law; to do all other acts in a timely and proper manner
<br />which from the character or use of such property may be reasonably necessary to protect and preserve said security, the
<br />specific enumerations herein not excluding the general.
<br />CONSTRUCTION OF IMPROVEMENTS To complete in good and workmanlike manner any building or improvement or
<br />repair relating thereMp which may be begun on such property or contemplated by the loan secured hereby, to pay when due
<br />all costs and liabOilfes incurred therefore, and not to permit any mechanic's lien against such property. Trustor also agrees,
<br />anything in this Deed of Trust to the contrary notwithstanding, (a) to promptly commence work and to complete the
<br />proposed improvements promptly, (b) to complete some in accordance with plans and specifications as approved by
<br />Beneficiary, ( c) to comply with all of the terms of any building loan agreement between Trustor and Beneficiary. the terms of
<br />which are incorporated herein by reference to the some extent as if fully set forth herein and made a part of this Deed of
<br />Trust, i d) to allow Beneficiary to Inspect such property at all times during construction, and (e) to repiace any work or
<br />rriatariets unsatisfactory to Senetiorary, within fifteen (IS I days after written notice from Beneficiary of such fact, whist,
<br />notice may be given to Trustor by registered or serf €fled mail, sent to his last known address or by versonai service of the
<br />carne
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