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85--- 003676 CONT 5:d
<br />DEED OF TRi'B.T
<br />This Deed of Trust is made this JlStdav of July q
<br />Fischer aIu1 f+arrrw' n gh
<br />c tr '- by and among Paul F.
<br />whose tiot hereinafter referred to as
<br />mailing address is Arend Baack 'Trustor,"
<br />Attorn ej• at Lae, hereinafter referred to as rustee, whose ma ling address is
<br />Ci2'anCi iSlalld i1 ; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, here inafierJ referred t.� as
<br />"Beneficiary," whose mailing address is P. D. 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 sybjtji to the terms and
<br />conditions of this Deed of Trust, the following- described property, rotated in Hui
<br />Nebraska, to -wit: County,
<br />Lots SiA (6) and Seven (7) and West 32' of
<br />Lot Eight ( 8 ) in Block Forte -Sim (4b). Wna pro r t s
<br />Third Addition to the Clty of Ctrard Island,
<br />Hall Counter, Nebraska,
<br />together with all buildings• improvements, fixtures, streets,
<br />loges and appurtenances located thereon or in any way alleys, passageways, easements, rights, pr,
<br />reversions and the remainders thereof, including all -such personal propertvnthateisaattacheduto�theoimprove-
<br />ments so as to constitute a fixture, all of which, including replacements and additions thereto, are hereby
<br />declared to be a part of the real estate conveyed In trust hereby, it being agreed that all of the fore-
<br />going shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SEC'RIN":
<br />(a) the payment of indebtedness evidenced by Trustor's
<br />the principal sum nfFp_SiR Thousand Five
<br />with interest at the rate or rates provided therein, ordthee principal and interesttoneanez
<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, modif State
<br />the and ions
<br />accordanextensions
<br />e iwith such
<br />set forth principal
<br />therein, interest
<br />e ference notes
<br />is there -c�madee ajpa r[
<br />hereof;
<br />fb) :hc performance :.f each agreement and covenant Of Tnrct cur };,.rein .,. ,taincd; and
<br />(c) the payment of any sum or sums of money which may be hereafter paid or advanced
<br />by Beneficiary under the terms of this Deed of Trust, together with interest [ herein at the
<br />rate provided in the note.
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows:
<br />-• Payment of Indebtedness. To pay when due, the principal of, and the interest on, the indebted-
<br />2. ness evidenced by the note, charges, fees and all other aces as nrovided in the loan instruments.
<br />Title. Trustor is the owner of the property and has the right and authozitr t
<br />Deed of Trust in respect to the property. o execute this
<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 other
<br />require,
<br />to add to the payments required under the note secured hereby, such amount Be may be sufficient re uir
<br />able Beneficiary to pay such taxes, assessments or other charges as then become due.
<br />4. Insurance_ To keep the improvements now or hereafter located on the real estate described
<br />herein es tabe insured-against damage by fire and such other hazares as Beneficiary may require, in amounts and
<br />companies acceptable to Beneficiary, and with less payable to ?ieneficlary. In case of loss under such
<br />Policies, Beneficiary is authorized to adjust, collect and compromise, in its discree[lon, all claims
<br />t ;e re un der a.-td, at its sole ,option, i, act[ -:nz i:cec t
<br />Property or upon the indebtedness secured hereby, b,.. f `p rt:e ;:roceeds the rest pration .f tie
<br />the sums secured 'hereby are paid in full_ `" ''a'•Tter: ;s •required by the note shall continue until
<br />5. Repair Maintenance and Use. To promptly repair, restore or rebuild any buildings or improve-
<br />ments now or hereafter on the property; to keep the property in rood condition and repair, without waste
<br />and free from mechanics it other liens not expressiv subordinated to the lien hereof; to not make, suffer
<br />or permit any nuisance to exist nor to diminish or Smpaiz the value of the property by an act or omission
<br />to act; and to comply with all requirements , taw with respect to the property.
<br />6. on. I❑ the event the property, or any part thereof, shall be taken be eminent domain.
<br />Beneficia tv is entitled to collect and receive all compensation
<br />or for damages to property r,ot taken, and Benefi wraith r.;ar be pall for any property taken
<br />ciary shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness secured herehv or to repair and restore the property so taken.
<br />�. Performance b• Beneficiarv. Beneficiary
<br />Trustor has agreed but�f8iled co do, and Beneficiary ma `•• but shali have ne ohligation to
<br />de any act which
<br />mar also do any act it deems necessary [e protect
<br />the lien hereof. Trustor agrees to repay. upon demand, aa•: sums an expended deems
<br />Beneficiary for the
<br />above purposes, and anv sum so expended by Beneficiary shall be added to the indebtedness secured h
<br />ov and become secured by the lien hereof. Beneficiary shall not incur anv anything ere -
<br />g it mac do or Umit to do hereunder. Personal -'lability because of
<br />9. Asst tments of Rents. Be hefty is ry s'r;a17 have the right, power and authority during the con- -
<br />�?
<br />sinuan ce pe this Deed of Trust t -, collect the rent'- Is--e. and rofitr of the property and of anv
<br />sons, property located thereon wit t: er without taking pt.ssession ?f the r;t >e n y affected hereby. and
<br />Trustor hereby ahsolt.at ely Der -
<br />Beneficiary, however, he* and assigns all uch rent ues and profits to Beneficiary.
<br />>rofits as they accrue and bet stay opts to ^, rust nr s cnllectlOn and retent,on ;•,f saute rents. iscaues and
<br />Ap - payable, so tong as :n�st.nr is pct, aE such t9ma, in default with re-
<br />act to payment of any indebtedness secured hereh. , or in the perfotm.•uace such t1 agreement hereinh r.
<br />lf any event of dcf silt described hereafter In rta,ect to !t2n tc ed of :rust :; !soli !;aye :
<br />onti.nuing. haneficlarv, as a matter of right and without notf...e ',n -re<• and br
<br />•rus lr:r, sad wY out r Bard to r�ae valu tO lr
<br />the tr ur °t r r anv..ne..aimfng urtd et
<br />shall have she right tt ;t tot ate or the• infer �t _ Tr a:mt or h
<br />spply t� acv cc. ut 1
<br />£ni •,y_tfm tc. .�. -r.fn u: e9vr•t of the• ern
<br />� ata e l..nn. Se rte. pert v.
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