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<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made this _� _ 24th _ —^- _- day of __ZUr.p
<br />19- ,_._- , among the Trustor,_ RACO INC 3 OrDO��lOf�
<br />(herein "Borrower "), AREND R. MACK ATTORNEY AT LAW - -
<br />(herein "Trustee "), and the Beneficiary, HOME FEDERAL SAVINGS 8 LOAN ASSOCIATION OF GRAND ISLAND, NE
<br />a corporation organizer! and existing under the laws of NEBRASKA whose address is 221 SOUTH LOCUST P. O. BOX 1009
<br />GRAND ISLAND NE 6802 (herein "Lender ").
<br />BORROWER, in consideration of the indebtedness herein recited and the trust herein created, irrevocably grants and conveys to Trustee,
<br />in trust, with power of sale, the following described property located in the County of
<br />State of Nebraska: ,
<br />LOTS ONE (1), TWO (2) AND THREE (3), BLOCK FORTY (40), AND THE WEST HALT DF VACATED
<br />WHEELER AVENUE SOUTH OF 4TH STREET, ORIGINAL TOWN OF GRAND ISLAND, NEBRASKA, AND STORAGE
<br />BUILDING AND FACILITY SITUATED ON THE UNION PACIFIC RAILROAD RIGHT -OF -WAY PROPERTY.
<br />which has the address of 311 iilest 4t _ _ __� Gr�3ro T� ,
<br />(STREET) 3t_.CL
<br />N I'J
<br />eUsKa (CITY)
<br />BEQ (herein "Pro
<br />(STATE & ZIP CODE) -�- - perry Address ");
<br />TOGETHER with all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents
<br />(subject however to the rights and authorities given herein to Lender to collect and apply such rents), royalties, mineral, oil and gas rights and
<br />Profits, water, water rights, and water stock, and all fixtures now or hereafter attached to the property, all of which, including replacements and
<br />additions thereto, shall be deemed to be and remain a part of the property covered by this Deed of Trust; and all of the foregoing, together with
<br />said property (or the leasehold estate if this Deed of Trust is on a leasehold) are herein referred to as the "Property";
<br />TO SECURE to Leader (a) the repayment of the indebtedness evidenced by Borrower's note dated
<br />(herein "Note "), in the principal sum of _ }T ��'(, THR TH �A
<br />T r�. F.__. �. NL�... ��. T( �lE_ HLI------ ��RF� _!?�1llII�1t10_.-- �- �- . -.�.,:
<br />with interest thereon, providing for monthly installments of principal and interest, with the balance of the indebtedness, if not sooner paid, due
<br />and payableon -__ July 1, 2005
<br />� the payment of all other sums,
<br />with interest thereon, advanced in accordance herewith to protect the security of this Deed of Trust; and the performance of the covenants and
<br />agreements of Borrower herein contained; and (b) the repayment of any future advances, with interest thereon, made to Borrower by (.,ender
<br />pursuant to paragraph 21 hereof (herein "Future Advances ").
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property,
<br />that the Property is unencumbered, and that Borrower will warrant and defend generally the title to the Property against all claims and
<br />demands, subject to any declarations, easements or restrictions listed in a schedule of exceptions to coverage in any title insurance Policy
<br />insuring Lender's interest in the Property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />i . Payr mil Of PdMCNW toad IwUml. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced
<br />by the Note, prepayment and late charges as provided in the Note, and the principal of and interest ou any Future Advances secured by this Deed
<br />of `trust.
<br />2• Fit for Tam and Iftwumm. Subject to applicable law or to a written waiver by (..ender, Borrower shall pay to Lender on the day
<br />monthly installments of principal and 'interest are payable under the Note, until the Note is paid in full, u sum (herein "Funds") equal to one -
<br />twelfth of the yearly taxes and as menu which may attain priority over this Mcd of l'rust, and ground rents on the Property. if any, plus one-
<br />twelfth of yearly premium installments for hazard insurance, Plus onc- twelfth of yearly premium installinetits for mortgage insurance, if any, all
<br />as reasonably estimated initially and from time to time by lender on the basis of assessments and bills and reasonable estirnates thereof.
<br />The Funds shall be held in an institution the deposits err accounts of which are insured or guaranteed by a I�c decal or state agate) (including
<br />1—ender if lender is such art institution). (.,ender shall apply the Purrds ro pay said taxes, assessments, irr4ttr€artdC premiums and ground rents,
<br />f,e r nnay nest charge for � o holding and applying tire I,unds, atnalyzing said atccuunt Ear verifying And compUirtg said assesantenls and hills,
<br />uness (..ender i-Mys Iorrower iratrrext on the Furrds ataai dpg lrcatbte law permits Lander to indke ,,deft a �,ltargc. ti W(mcr and I circler miry agrc -c. rrt
<br />writing at late trine of exe€;ceriun Oaf (firs Decd of I ou;tt that rntescsr (Fri the funds .4iall (C Vald t,> liuerciwrt, .tnci uiile.�+ �uclr iagtrctucrrt is ruale ur
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