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19
<br />I.�CONTS:d
<br />DEED OF TRUST 8tJ' 001851
<br />I-17 aI. S 4frtY1 h 1, _ _April tvendell W. {food and
<br />19 85 , by and among lift _e A. ;"7 )(1 and
<br />hereinafter ref rued to as Trustor,"
<br />whose maflhg address is OU l .7@T- P1'SOn, ; of ��tt
<br />Attorney at Law, hereinafter referred to as "Trustee," whose mailing�addreas is trend S11a(;k
<br />�'aralld Island NE ; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as
<br />"Beneficiary," whose mailing address is P. 0. Box 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 subjject to the terms and
<br />conditions of this Deed of Trust, the following- described property, located in jj j]
<br />Nebraska, to -wit: a County,
<br />The North Half of the Northwest Quart(,?, (NIMI) of Section Four (4),
<br />Towns lip Ten (10) North Ra.n e Ten (1() ti4test of the Sixth (6th) P.M.,
<br />and the Southwest Quarter of the Southwest Quarter (SVJSijJ) of
<br />ectio it - lr 3 Township Fli:ven 1 wrth n e n (10),
<br />comteVed 3v r or lrl'}3cib "" o -o - v
<br />an i�e In
<br />r s
<br />s
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privi-
<br />leges and appurtenances located thereon or Ln an}• way pertain log thereto, and [he rents, issues, profits,
<br />reversions and the remainders thereof, including all such persortal property that is attached to the Improve-
<br />ments ed as to constitute a fixture, all of which, Snclud ing replacements and additions thereto, are hereby
<br />Improve-
<br />declared to be a part of the real estate conveyed !n trust herebv, Lt 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 �l'rustor's note of even date herewith in
<br />the principal sum of One Hundl'ed 'lllousand _ncl 1 c _
<br />with interest at the rate or rates provided i___ r., or t�,00,- ncS10 000 nt0 resttonethe
<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 c,n the notes befog payable In
<br />hereof;
<br />accordance with the terms set forth therein, which by this reference is hereby made a part
<br />(b) the performance of each :,gre anent and covenant +,. frustor 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 tetras of this Deed of Trust, together with interest thereon at the
<br />rate provided In the note.
<br />To protect the security of Ellis Deed of Trust, frustor hereby covenants and agrees as follows:
<br />1. Payment of Indebt_d_ness, ro pay when due, the principal of, and the Interest on, the Indebted-
<br />ness evidenced by the note, charges, fees and all other ,isms 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 Co the property,
<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all other charges
<br />against the property, before the same 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 s
<br />able Beneficiary to pay such taxes, assessments or other charges as they become due. sufficient to en-
<br />4. Insurance, In 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 toss under such
<br />thereunder Beneficiary Is authorized to adjust, collect and compromise, in its discretion, all claims
<br />the re un de•r and, at Sts sole apt ion, I� +wthor Ized to ,either apply the proceeds to the restoratl, of the
<br />Property or upon the Indebtedness secured hereby, but pavmence reyulred by the note shall continue until
<br />the sums secured hereby are paid in full.
<br />5, RUalr1 Maintenance and Ilse. To promptl., repair, restore or r.:oufld any buildings or improve-
<br />ments now or hereafter on the property; to keep the property in good condition anti 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 comply with all requirements of law with respect to the property.
<br />6. Cond emn at io_n, 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 <;Pply such tompensatJ on, at its option,
<br />either to a reduction of the indebtedness secured hereby or to repair and restore the prep —ty so taken.
<br />7. Performance b Beneflclary. Beneficiary may, but !daall have nu oblfpatlon to, do arry act which
<br />Y --- _ - - d
<br />Trustor has agreed but Palled to do, and Beneflclary may also do any act It deems necessary to protect
<br />the lien hereof. Trustor agrees to repay, upon demand, any sums su expended by Beneficiary for the
<br />above purposes, and any sum so expended by Beneficiary shall be added to the indebtedness secured here-
<br />by and become secured by the Ifen hereof. feneficiary .hall nut Incur any persunnl 1,,,,,,,Iec bed her• here-
<br />anything It may do or omit to do hereunder. -
<br />8. Assl •nments of Rents. Beneflclary Shall have the ri „hr, power and nu Uaurlty during the, run -
<br />tinuance of th a Deed of Trust to collect the lssurs and nn,t(cs of tile
<br />sand) pnaperty located thereon with or without Lakin Property :end of an•: cer-
<br />17ustur hereby absolutely and unconditionally assigns allt�aiuch rents,huIssuesc and profits i to Benefi "I'I'v.
<br />BeneflC'1nry, however, hereby conaent.s to 'I'tustor's collection end re�tentlou of such rents, Lssuc•s and
<br />profits as they accrue and become payable, so lnnpr, as Ttw;cor Is nut, et � <_b time, to default wtt1, re-
<br />spect to payment of any Indebtedness .....red hereby, r,r In the pertorm race of any nKrecment het- ,•,aud er. 'Ind If any event of default davc•rlbed hereafter In re spot to rhls :Mr e1 ,1 'nin t: •:hall have ur re.; ndo he
<br />: mtlnuf oft. Ben of f,lary, as a matt r of right ;nd wit host not 1,.r to in -tor „r :urv,+ne ,'lalmink, undo•,
<br />franr„r, and wl"out rry,ard to the. v,tur. ..1 toe tnu't
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