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The undersigned hereby acknowledges that (a) the document to be executed is a Trust Deed and not a mortgage and (b ) the power of sale
<br />for in the Trust Deed provides substantially different rights and obligations to the Bo r thin a mortgage in the event tins default or breach of obli•
<br />Provided
<br />execut undersigned hefo further reps u an igrces that this certification has bee ad executed in con lion with but prior to the undersigned's
<br />execucio he fo`A g Trust De
<br />__Eta 1L.
<br />— - -- --
<br />Ruth
<br />_Ruth —
<br />TRUST DEED 002905
<br />THIS TRUST DEED is made this —1-21h_ day of June
<br />Larry D. Ruth and Pia E. Ruth, husband and wife, ' 19 85 ' by and between the Trustor,
<br />whose mailing address is 3141 Sheridan Boulevard
<br />—L I =—
<br />ras
<br />incoln Nebka 68502 (herein "Borrower"),
<br />and First National Bank & Trust Company of Lincoln,c /o Real Estate Lending Div.
<br />(herein 'Irrteell)
<br />and the Beneficiary, FIRST NATIONAL BANK 8t TRUST COMPANY OF LINCOLN, a national banking association, whose mailing address is 13th dc,
<br />M" Streets, P. O, Box 81008, Lincoln, Nebraska 68501 (herein "Lender ").
<br />BORROWER, in consideration of the indebtedness herein recited and the trust herein created, irrevocably grants and conveys to Trustee, in trust,
<br />WITH THE POWER OF SALE, the following described property located in the County of _ Hal l
<br />Condominium Unit No. 406, The Yancey, a Condominium, a c no dominium in —'state of Nebraska:
<br />accordance with the Declaration recorded on October 17, 1984, under
<br />Document No. 84- 005507 of the County of Hall, State of Nebraska records.
<br />TOGETHER with all buildings, fixtures and improvements now or hereafter erected thereon and all rights-of-way, easements, rents, issues, profits,
<br />income, tenements, hereditaments, privileges, appurtences, royalties, and mineral, oil, gas and water rights thereunto belonging,
<br />land or any part thereof, all of which, including replacements and additions thereto shall be deemed to be and remain a pt f used he pr enjoyed c with said
<br />this Trust Deed; and all of the foregoing together with said property are herein referred to as the "Property", property covered by
<br />TO SECURE to Lender the repayment of indebtedness evidenced by Borrower's note dated June 12
<br />together with any and all renewals, modifications, and extensions thereof and substitution or exchanges c ere or— erern re err to as Me-el in
<br />the principal sum of S
<br />7.000.00
<br />together with interest at the rate provided therein, with a final
<br />maturity, if not sooner paid, of Jul 1 19 93
<br />arise, Lender to Borrower from time in tune gr and-is s`a u m nor the ppayment o any an3 a"II other indebtedness of the Borrower advances
<br />the Lender which may
<br />:sits, all of said sums not to exceed in the aggregate a sum equal to three times the original principal amount of the above recited Note.
<br />BORROWER covenants that Borrower is lawfully seized of the Property hereby conveyed and has the
<br />right to grant and convey the Property, that
<br />the Property is unencumbered by any mortgage, trust deed, contract to purchase, or otherwise, except for a n/a
<br />in favor of
<br />which the unpaid balance on this date does not exceed t on
<br />terms and provisions of any prior mortgage, crust deed or contract to prat Mi—uFo —n ffiie Propp BOff ewer covenants to comply with all he
<br />delinquent. If no name or amount is inserted in this paragraph, then Borrower covenants thx }ate are no prig liens n any therj�d yefpre they become
<br />Borrower further covenants to warrant and defend the title t the Property against all claims and demands.
<br />port the Property.
<br />Borrower and Lender farther covenant and agree as follows:
<br />I. Borrower shall Promptly Pay when due he principal and interest on the indebtedness evidenced by the Note-
<br />2. At least ten days before they become delinquent, Borrower shall pay all taxes and special assessments levied or
<br />or any part hereof, and all taxes, levies and assessments levied upon this Trust Deed or the debt which it secures. assessed against he Property,
<br />3. Borrower shall keep the improvements and buildings, insured,
<br />Lender, for an amount not less than the unpaid balance on the indbtedness secured by thiis Truest Deed with a standard morrtgage clause with loss payable
<br />to the Lender. Borrower shall deliver said policy or policies to the Lender, companies approved by the
<br />In the event of a loss, Borrower shall P Y ble
<br />give prompt notice to the insurance carrier and the Lender and file a proof of loss. If the Borrower its not
<br />otherwise in default, he Borrower may elect to apply the insurance proceeds to repair or replace the damaged Pro et
<br />security of this Trust Deed would not be impaired. If the Borrower is in default or elects not to re P ty• if economically feasible, and the
<br />replacement would not be economically feasible or the security of this Trust Deed would be impaired then the insurance
<br />last maturing si a replace he damaged Pro ty or repair or
<br />g payments due on the Note. if the insurance proceeds are in excess of the total amount due on said Note, the excess shpaellr be paid to the
<br />Borrower- Insurance proceeds for repair or replacement shall be placed an escrow with he Lender and due on b Lender proceeds shall shall applied to the
<br />such repair or replacement. If the Lender acquires title to the Property by exercis' its Y during or upon completion of
<br />indebtedness sawed hereby, in while or in part, then all right, title and interest oMc Bower in and t foreclosure
<br />iinns<ierparnotherwise, r policisfac� Pass to
<br />4. For the purpose of providing a fund for the payment of taxes, special assessments and insurance
<br />Lender, on chit dates that payments are due on the Note, an amount equal to the taxes, assessments and insurance premiums next due (all as estimated b
<br />the Lender, lets amounts already deposited therefor Premiums, Borrower shall deposit with
<br />Lei• assessments and insurance premiums will become due and payable. Said funds will be held by the Lender in a non-interest bearing escrow account
<br />divided by the number of payments art the Note that will become due prior to the date when suc}i
<br />for he Purposes set forth above, If the amounts of these de
<br />due- then Borrower shall upon re neat posits are not sufficient to pa tares, assessments and insurance premiums as they become
<br />po 9 ,pay Lender the amount necessary to make up the deficiency.
<br />g. Unless applicable law provides otherwise, all payments received b
<br />by under font in payment of amounts p y Lender under the Note and paragraphs 1 and 4 hereof shall be applied
<br />Principal of the Note, and then to interest and to bender by Borrower under paragraph 4 hereof, then to interest
<br />principal on any further advances or other indebtedness secured hereby, payable on the Note, then to the
<br />6. Borrower shall keep he Property in good repair and shall not commit waste or
<br />7. If Borrower fails co: a permit impairment or deterioration of the Property,
<br />maintain or pay the premiums for the required insurance of the prop
<br />any amount due under a prior mortgage or crust died before delinquent, or l) maintain the Property oo of b) pay texts before delisquent, or c) pay
<br />a b ants of this Trust Decd, then Lender may a its option pay such or d) m insurance pe ty en g RPau. Or e) erform any of the covenants or
<br />�s such sums and take such action as it deems necessary premiums, taxes, mort or trust deed payments, or make repairs crate ► debt secured hereby is because
<br />Trust of am such failure o ' a Borrow Borrower, ourats without
<br />in acso daub ncd by the Lender shall constitute additional indebted-
<br />nets of Borrower stewed by this Trust Deed and shat bear interest from the date of ants disbursement s sbu s tghe taaffecting y erright der the Note Notion rained
<br />this paragraph shall require Lender to make any such disbursements or take any action whatsoever.
<br />S. Lender may make or cause to be made reasonable entries upon and inspection of the Property.
<br />9. The thereof, of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Prop -
<br />Y� Part theereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid t Lender to the extent of the full amount of the
<br />n unpaid indebtedness secured by this Trust Dad.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim
<br />for s, Borrower fails to respond to Lender within 30 der s afar the date such notice u mailed, Lender u authorised to collect and a
<br />L P►s t tie sums secured by this Trust Deed. Y
<br />PPIy the
<br />Condemnation Proceeds or awards shall be credited t the last maturing installments of he indebtedness secured and shall not extend or postpone
<br />the dart dace of the installments referred to in paragraphs 1 and 4 hereof or change the amount of such installments.
<br />10. if tint w� hereby. Lender es a
<br />the i bt partial release of this Trust Teed, the proceeds received therefor :}rill be credited to the Last maturing irtstaUm
<br />ante of
<br />I1. h Lender tither voluntarily, the a involuntarily becomes a party t any suit or legal proceeding relating to the property, Note or this ?mat
<br />Deed' then Borrower will reimburse the Lender for all costs and, to he extent permitted by law, reasattablc atttunry fee, incurred by the Lender is Trust
<br />eat such suit or legal prorecd ;rags and said stems shall constitute additional indebtedness secured by this Trust of eel and Gear interest at the sate pelarin
<br />under t� Entice, anti] paid.
<br />cx conditie�rt of thtts T s,•
<br />Deed. the rrow , dr tile hue rats earl a�y' ad sfe land set are i ]err r
<br />be dcirro�rd from The I'lo ,erty, tnd iMing land <orltracr PAyments, l.endrr, in I� �d : � l w xyP�,rf ��rck } rtr�klflk ,lets 11% 1�1coly V ot't&III t t e mile Ali
<br />rear t�> by, all �,, thy: rer�t.w, rwaPn�aee ar+d anu� tnit,trtr , >k any tylwc sa�i�at
<br />beau lit.; F S ki
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