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<br />l�. � 86-- 107,.00
<br />i i1 Hultman and Felton 6 Wolf. Walton. Ne 65461
<br />DEED OF TRUST
<br />19th December 86
<br />THIS DEED OF TRUST, is made as of the day of 19_—, by and among
<br />B&J Trapsportati on ( "Trustor "), whose mailing address is
<br />410 South Webb Road, Grand Island, Nebraska 68801
<br />Richard T. Kizer ( "Trustee'), whose mailing address is
<br />317 American National Building, 8990 West Dodge Road, Omaha, Nebraska 68114
<br />1 and First Bank, National Association ('Beneficiary ") whose mailing address is
<br />1600 West Broadway, Council Bluffs, Iowa 51501
<br />FOR VALUABLE CONSIDERA ON, Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />i TRUST, WITH POWER OF SALE, for the benefit and security of BeneficLary, tlrtae5an� subject to the terms
<br />and conditions of this Deed of Trust, the real property located in the City of Gran t1 s an of
<br />Hall Hall State of Nebraska, and legally described as follows (the "Property "): Tee rtes n
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />i streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all
<br />water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust F-state ".
<br />FOR THE PURPOSE OF SECURING:
<br />100,000.00
<br />a. Payment of indebtness in the total principal amount of $ with interest thereon, as evidenced by
<br />that certain promissory note of even date (the "Note ") with a maturity date of Augucft 19. 1987 , executed
<br />by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is
<br />herebv made a part hereof, and anv and all modifications, extensions and renewals thereof, and
<br />b. Panentn of ail sum advanced by Beneficiary to protect the Trust Estate, with interest thereon at the
<br />rate of our Prcenl 1 `°o) per annum.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />j performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />j TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />L PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on, the
<br />ineiebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2- TAXES. Truster shall pay each installment ofall taxes and special assessments ofevery kind, now or hereafter
<br />levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and shall provide
<br />Beneficiary with evidence of the payment of same. Truster shall pay all taxes and assessments which may be levied
<br />upon Beneficiary's interest herein or upon this Deed of Trust or the debtsecured herebv, without regard to any law that
<br />may be enacted imposing payment of the whole or any part thereof upon the Beneficiary.
<br />3. INSURANCE AND REPAIRS. Truster shall maintain fire and not extended coverage insurance insuring the
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note (co- insurance not exceeding 80% permitted). Such insurance policy shall contain
<br />a standard mortgage clause in favor of Beneficiary and shall not be cancellable, terminable or modifiablewithout ten
<br />( ]0) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or
<br />any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the
<br />Trustor commit waste on or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE_ Trustor shall appear in and contest any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary
<br />or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided it
<br />any of the Loan instruments, Beneficiary and 'or Trustee, each in its own discretion, without obligation so to do and
<br />without notice to or demand upon Truster and without releasing Trustor from any obligation, may make or do the
<br />same in such manner and to such extent as either may deem necessary to protect the security hereof. Trustor shall,
<br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection
<br />with the exercise by beneficiary of the foregoing rights, including without limitation costs of evidence of title, court
<br />costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten (101 days of written
<br />demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken or damaged by
<br />reason of any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condem-
<br />nation E "Condemnntion- % or should Truster recive any notice or otherinformanon regarding such proceeding, Trustor shall
<br />give prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other pay-
<br />ments or relief therefor, and shall be entitled at its option to commence appear in and prosecute in its own name any action
<br />or proceedings. Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or
<br />damage. All such compensation, awards• damages, rights of action and proceeds awarded to Truster Ithe "Proceeds ") are
<br />herebv assigned to Beneficiary and 1 rustor agrees to execute such further assignments of the Proceeds as Beneficiary or
<br />Trustee may require.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument
<br />executed and acknowledged by Beneficiary, mailed to Truswr and Rpeoixied in the County in which the Trust Estate is
<br />kwated and by otherwise complying with the provisions of the applicable law ofthe State of Nebraska substitute a successor
<br />or successors to the Trustee named herein or acting hereunder.
<br />T SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto,
<br />their heirs, legatees, devisees, personal reprecentatives, succoiw m and assigns. The term "Beneficiary" shall mean the
<br />owner and holder of the Note, whether or not named as Beneficiary herein.
<br />"
<br />IN rPE:f'T IONS. Beneficiary, or its agents, representatives or workmen, are authorized to enter at any reasonable
<br />tsnoe upon ? r to any prcrt of the Trust Estate for the purpose of inspecting the same and for the purpose of performing any of
<br />the Rots it us aulhorwed to perform under the terms of any of the l4mn Instruments.
<br />4 E VENIS C)F DVFACtLT Any of the following --vents shall he depmrd an went of default hen•undcr
<br />ta) 'fru,,,nr shall have failed to make payment 4 any installment of interewt, prtnc•tpat if pnncopal ind untcn•st +r env
<br />"t1wr nun: * o"i ioorchy when sloe, cv
<br />0 t xf lea ,. e ores 1 a brew-h 4 or ,lefault under ropy to•r au. [ sn en +rt_ fsRnwmrnt : e.n:iutu,tu ;,r „rs. nr,a m;:ms.val:uticui
<br />r an ens es..e+i ua xusy'A the 1 roars Inaetsviln!ents
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