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DEED OF TRUST 86-- 106161
<br />This Dead of Trust is made this 27th day of nrtnhpr , lg_.Er,, by and among
<br />O. V. DEVELOPMENT. INC.. a Nebraska Coronratinn
<br />hereinafter referred to as lrustors whose mailing address is LD4li Larlet n Avenue
<br />Grand Island,; NF AREND R BAACK, Attorney at Law, hereinafter referred to as Trustee,
<br />whose mailing address is P. 0. Box 790, Grand Island, Nebraska 68802; and HOME FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Beneficiary,"
<br />Whose mailing address is 221 South Locust Street, P. 0. Box 1009, Grand Island, Nebraska
<br />68802.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and
<br />assigns to Trustee, in trust, with power of sale, for the benefit and security of Bene-
<br />ficiary, under and subject to the terms and conditions of this Deed of Trust, the fol-
<br />lowing described property, located in HALL County, Nebraska, to -wit:
<br />LOT FIFTEEN (15) IN BOSSELMAN'S SECOND SUBDIVISION, AN ADDITION TO THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA, SUBJECT TO EASEMENTS AND RESTRICTIONS OF RECORD
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways,
<br />easements, rights, privileges and appurtenances located thereon or in any way pertaining
<br />thereto, and the rents, issues, profits, reversions and the remainders thereof, includ-
<br />ing all such personal property that is attached to the improvements so as to constitute
<br />a fixture, all of which, including replacements and additions thereto, are hereby de-
<br />clared to be a part of the real estate conveyed in trust hereby, it being agreed that
<br />all of the foregoing shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by Trustor's note of even date herewith
<br />in the principal sum of SEVENTY THOUSAND AND NO/ 100------------------------- - - - - --
<br />($ 70,000.00 ), together with the balance cf such indebtedness, if not sooner
<br />paid, due and payable on November 1 , 1991 ; with interest at the rate or rates
<br />provided therein, along with the payment of all other sums, with interest thereon,
<br />advanced in. accordance herewith to protect the security of this Deed of Trust,
<br />together with the principal and interest on. any future advance as evidenced by
<br />promissory notes stating they are secured hereby, and any and all renewals, modifi-
<br />cations and extensions of such notes, both principal and interest on. the notes
<br />being payable in accordance with the terms set forth therein., which by this refer-
<br />ence is hereby made a part hereof. The holder hereof shall have the option to
<br />accelerate the maturity of the note for which this mortgage is given as security,
<br />at any time after the NA loan year after first giving the undersigned or
<br />the then owner of the premises described herein a written notice three months
<br />in advance of its intent to do so. At no time shall the principal amount of the
<br />indebtedness secured by this Deed of Trust, not including sums advanced in accord-
<br />ance herewith to protect ttasecurity of the Deed of Trust, exceed the original
<br />amount of the note plus $ 0.00 ;
<br />(b) the performance of each agreement and covenant of Trustor herein contained;
<br />and
<br />(c) the payment of any sum or sums of money which may be hereafter paid or advanced
<br />by Beneficiary under the terms ofthis Deed of Trust, together with interest thereon
<br />at the rate provided in the note.
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees
<br />as follows:
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