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<br />DEED OF TRUST 86_ 107054
<br />THIS DEED OF TRUST is made this 8th day of December, 1986,
<br />by and among GREGORY S. BAIRD and KAY L. BAIRD, husband and wife,
<br />hereinafter referred to as "Trustors," whose mailing address is
<br />Route 3, Box 147, Grand Island, Nebraska 68801; BRUCE I. SMITH,
<br />Attorney at Law, hereinafter referred to as "Trustee," whose
<br />mailing address is P. O. Bois 790, Grand Island, Nebraska 68802;
<br />and BEVERLY J. QUANDT, hereinafter referred to as "Beneficiary,"
<br />whose mailing address is 2216 North Wheeler, Grand Island,
<br />Nebraska 68801.
<br />For valuable consideration, Trustors irrevocably grant,
<br />transfer, convey and assign to Trustee, in trust, with power of
<br />sale, for the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Deed of Trust, }he
<br />following- described property, located in Hall County, Nebraska,
<br />to -wit:
<br />The East Half of the Southwest Quarter
<br />(E }SW}) of Section Twenty -Four (24), Township
<br />Twelve (12) North, Range Nine (9) West of the
<br />6th P.M., Hall County, Nebraska;
<br />together with all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and appurte-
<br />nances located thereon or in any way pertaining thereto, and the
<br />rents, issues, profits, reversions and the remainders thereof,
<br />including all such personal property that is attached to the
<br />improvements so as to constitute a fixture, all of which, includ-
<br />ing replacements and additions thereto, are hereby declared to be
<br />a part of the real estate conveyed in trust hereby, it being
<br />agreed that all of the foregoing shall be hereinafter referred to
<br />as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by
<br />Trustors' note of even date herewith in the principal
<br />sum of Seventy -Eight Thousand Eight Hundred Dollars
<br />( ;78,800.00), together with interest at the rate or
<br />rates provided therein, or the principal and interest
<br />on any future advance as evidenced by promissory notes
<br />stating they are secured hereby, and any and all
<br />renewals, modifications, and extensions of such notes,
<br />both principal and interest on the notes being payable
<br />in accordance with the terms set forth therein, which
<br />by this reference is hereby made a part hereof;
<br />(b) the performance of each agreement and cove -
<br />nant of Trustors herein contained; and
<br />(c) the payment of any sum or sums of money which
<br />may be hereafter paid or advanced by Beneficiary under
<br />the terms of this Deed of Trust, together with interest
<br />thereon at the rate provided in the note.
<br />To protect the security of this Deed of Trust, Trustors
<br />hereby covenant and agree as follows:
<br />1. Pa nt of Indebtedness. To pay when due, the prin-
<br />cipal of, an It he interest on, the indebtedness evidenced by the
<br />note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />2. Title. Trustors are the owners of the property and
<br />have the rig th and authority to execute this Deed of Trust in
<br />respect to the property.
<br />3. Taxes and Assessments. To pay, when due, all taxes,
<br />special assessments and all other charges against the property,
<br />before the same become delinquent, and, in the event Beneficiary
<br />MW
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