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86, 107442
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made this 31st day of Decemb4r,
<br />1986, by and among NORWEST BANK NEBRASKA, N.A. (formerly
<br />First National Bank of Grand Island, Nebraska), Successor
<br />Trustee of the JALE Trusts, under Trust Agreement dated May
<br />28, 1981, and NORWEST BANK NEBRASKA, N.A. (formerly First
<br />National Bank of Grand Island, Nebraska), Successor Trustee
<br />of the ABE Trusts, under Trust Agreement dated May 28, 1981,
<br />hereinafter referred to as "Trustors," whose mailing address
<br />is c/o Ronald L. Adams, Vice President and Trust Officer,
<br />Norwest Bank Nebraska, N.A., 202 West Third Street, P.O. Box
<br />1768, Grand Island, Nebraska 68802; WILLIAM G. BLACKBURN,
<br />Attorney at Law, hereinafter referred to as "Trustee," whose
<br />mailing address is P.O. 2280, Grand Island, Nebraska 68802;
<br />and FIVE POINTS BANK, hereinafter referred to as "Beneficiary,
<br />whose mailing address is 2015 North Broadwell Avenue, P.O.
<br />Box 1507, Grand Island, Nebraska 68802.
<br />For valuable consideration, Trustors irrevocably grant,
<br />transfer, convey and assign to Trustee, in trust, with power
<br />of sale, for the benefit and security of Beneficiary, under
<br />and subject to the terms and conditions of this Deed of
<br />Trust, the following described property, located in Hall
<br />County, Nebraska, to -wit:
<br />Lots Three (3) and Four (4), Block Sixty -one (61),
<br />Original Town, now City of Grand Island, Hall
<br />County, Nebraska, as surveyed, platted and recorded;
<br />together with all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in any way pertaining
<br />thereto, and the rents, issues, profits, reversions and the
<br />remainders thereof, including all such personal property
<br />that is attached to the improvements so as to constitute a
<br />fixture, all of which, including replacements and additions
<br />thereto, are hereby declared to be a part of the real estate
<br />conveyed in trust hereby, it being agreed that all of the
<br />foregoing shall be hereinafter referred to 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 sum of
<br />One Hundred Fifty Thousand and No /100 Dollars ($150,000.00),
<br />together with interest at the rate or rates provided therein,
<br />or the principal and interest on any future advance as
<br />evidenced by promissory notes stating they are secured
<br />hereby, and any and all renewals, modifications, and exten-
<br />sions of such notes, both principal and interest on the
<br />notes being payable in accordance with the terms set forth
<br />therein, which by this reference is hereby made a part
<br />hereof;
<br />(b) the performance of each agreement and covenant
<br />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 the
<br />terms of this Deed of Trust, together with interest thereon
<br />at the rate provided in the note.
<br />TO protect the security of this Deed of ':rust, Trustors
<br />hereby covenant and agree as follows:
<br />:. Payment of Indebtedness. To pay when clue, the
<br />principal of, and the interest on, the indebtedness evidenced
<br />by t:nc., note, charges, Bees and al, other sums as :,rc+ i� ,ed in
<br />the !can instruments.
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