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COTS :d 85^-. 106568
<br />DEED OF TRUST
<br />This Deed of Trust is made this nth day of NOVHDber 19 86 by and among Charles D. Bosselman
<br />Janet Kay Bosselman _ Husband alai "fife hereinafter referred to an "Trustor,"
<br />whose ceiling &"team Ss QMW is
<br />Attorney at law, hereinafter referred to as "Trustee." :'whose sailing address is
<br />islgnd, NF. E488M • and In OVERLAt16 NATIONAL SANK OF GRAND ISLAND, hereinafter referred to as
<br />sficiary, whose sailing address -is P. .0. Boat 1688, Grand Island, Nebraska 68802.
<br />For valuable consideration, Trustor 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 folloving-descrlbed property, located in Hall County,
<br />Nebraska, to -w1t:
<br />Lot Eighteen (18) in Wildwood Subdivision Hall County. Nebraska, AND
<br />Lot Twenty (20) in Wildwood Subdivision, Hall County, Nebraska, AND
<br />Lot Nineteen (19) in Wildwood Subdivision, Hall County, Nebraska, AND
<br />Lot Seven (7) in Block Four (4), Mlat of Riverside Acres, to the City of
<br />Grand Island, Hall County, Nebraska., AND SEE 'UMMIT A" ATTACHED
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privi-
<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 to attached to the Improve-
<br />ments so as to constitute a fixture, all of which, Including replacements and additions thereto, are hereby
<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 of indebtedness evidenced by Trustor's note of even date herewith in
<br />the principal am of One HLIDEIred Thousand & No/100- -($ 100,OW.00 ), together
<br />with interest at the rate or rates provided therein, or the principal and interest on any
<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 />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 Trustor herein contained; 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 of this Deed of Trust, together with interest thereon at the
<br />rate provided in the note.
<br />To protect the security of this Deed of Trust, Trustor 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 by the note, charges, fees and all other sums as provided in the loan instruments.
<br />2.. Title. Trustor is the owner of the property and has the right and authority to execute this
<br />Deed of Trust in respect to the property.
<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all ether charges
<br />against the property, before the ease 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 Beneficiary to pay such taxes, assessments or other charges as they become due.
<br />4. Insurance. 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
<br />policies. Beneficiary 1s authorized to adjust, collect and comproulse, in its discretion, all claims
<br />thereunder and, at its sole option, is authorized 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
<br />the gross secured hereby are paid in full.
<br />S. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or Improve -
<br />wants now or hereafter on 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
<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 coaply with all requirements of law with respect to the property.
<br />6. Condemnation. In the event the property, or any part thereof, shall be taken by eminent domain,
<br />beneficiary is entitled to collect and receive all compensation which may be paid for any property taken
<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.
<br />7. Performance by beneficiaryr. Beneficiary may, but shall have no obligation to, do any act which
<br />Trustor has *grand but failed to do, and Beneficiary any also do any act it deems necessary to protect
<br />the lien hereof. Trustor agrees to repay, upon demand, any sums so expended by Beneficiary for the
<br />above purposes. sad any am an expended by Beneficiary shall be added to the indebtedness secured here-
<br />by and become recited by the lien hereof. Beneficiary shall not incur any personal liability because of
<br />anything it say do or oast to do bereunder.
<br />S. Assignments of Rents. beneficiary shall have the right, power and authority during the con -
<br />ttauanee of this Dead of Trust to collect the rents, issues and profits of the property and of any per -
<br />sonai property located thereon with or without taking possession of the property affected hereby, and
<br />Truster hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary.
<br />Beneficiary, however, hereby comments to Trustor's collection and retention of such rents, issues and
<br />profits as they access and become payable, so long me Trustor is not, at such tile, in default with r --
<br />*peot,to payment of +any indebtedness secured hereby, or in the performance of any agreement hereunder.
<br />If any *a* of default described boreaftmr In respect to this Deed of Trust shall hams occurred and be
<br />coat:isuisg, beneficiary. as a setter of right sad without notice to Trustor or anyone clalaing hander
<br />Trustor, and wItbout retard to the value of the trust estate or the interest of the Trustor therein,
<br />sball have the right to apply to any court having jurisdiction to appoint a receiver of the property.
<br />9, t2kmC94#1omr. beneficiary, or its agents, representatives or workmen, are authorised to enter
<br />at any reasonable time upon or in any part of the property for the purpose of inspecting the same and
<br />for this purposa of performing any of the acts it Is authorized to perform under the terms of any loan
<br />inettiaeats executed by Trustor,
<br />iii. LVIStigr ofd proz_r`ty. If .ill or any part of th+n property or anv intere -At of Trustor therein
<br />
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