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003904 L;trN ::n
<br />DEED OF aT-LS
<br />July l9 95 by and among Victor J.
<br />This Deed ^£ Trust is made this 30th day of hereinafter referred to as "Trustor,"
<br />Aufdembe e & Kathleen J. Aui e moos e
<br />whose mailing address is _ � ij
<br />Attorney at Law, hereinafter referred to as "Trustee," whose mailing address is
<br />Islaria ,NE G8802 ; and THE OVERLA I7 NATIONA>_ BANK OF GRAND ISLAND, hereinafter referred to as
<br />"Beneficiary," chose mailing address is p. O. Box 1688, Grand Island, Nebraska 66802.
<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, tinder and subject to the terms and
<br />conditions of this Deed of Trust, the following- described property, located in Hall County,
<br />Nebraska, to -wit:
<br />All of Lot Five (5) and the westerly Thirteen and Four- Tenths Feet
<br />(13.41) of Lot Four (4), all in Block Ninety- -Two (92) in Wheeler
<br />and Bennett's Fourth Addition to the City of Grand Island, Hall
<br />County Nebraska ---
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privi-
<br />leges and appurtenances located thereon or in any way pertaining thereto, and the rents, issues, profits,
<br />reversions and the remainders thereof, including all such personal property that is at�ached to the improve-
<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 7,,E PURPOSE OF SECURING:
<br />(a) the payment,..o£ indebte ess evi tamed b. ru oz note of even date herewith in
<br />j- O, lg.4i>fS.�G ), together
<br />the principal s•.m: of i
<br />with interest at the rate of rat s prowl e t erein, or t e principal and interest on any
<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 on the notes being payable in
<br />accordance with the terms set forth therein, which by this reference is hereby made a part
<br />hereof;
<br />(b) the performance of each agreement and covenant of 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 terms of this Deed of Trust, together with interest thereon at te
<br />rate provided in the note.
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows:
<br />1. Payment of Indebtedness. To pay when due, the principal of, and the interest on. the indebted-
<br />ness evidenced by the note, charges, fees and all other sums as provided in the loan instruments.
<br />-. Title. Trustor is the owner of the property and has the right and authority to execute this
<br />Deed of Trust in respect to 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 sufficient to en- 40 '.
<br />able Beneficiary to pay such taxes, assessments or other charges as they become due.
<br />4. Insurance. To 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 Beneficiarv. In ease of loss under snch
<br />policies. Beneficiary is authorized to adjust, collect and compromise, in its discretion, all claims
<br />thereunder cad, at it= sole option, is authorized to either apply the proceeds to the restoration of the
<br />property or upon the indebtedness secured hereby, but pa -ts required by the note shall continue until
<br />the sums secured hereby are paid in full.
<br />5. Repair, Maintenance and Else. To promptly repair, restore or rebuild any buindin8svor Improve-
<br />incurs now now or hereafter an the property; to keep the property in good condition and repair, 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. Condemnation. 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 taker., and Benetici.ary shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness secured hereby or to repair and restore the property so taker..
<br />7. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which
<br />Trustor has agreed but failed to do, and Beneficiary may also do any act It deems necessary to protect
<br />the lien hereof. Tr>ator agrees to repay, upon demand, any sums so 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 lien hereof. Beneficiary shall not incur any personal liability because of
<br />anything, it may do or omit to do hereunder.
<br />8. Agpmments of Rents. Beneficiary shall have the right, power and authority daring ilse con -
<br />tinuance of this Deed of Trust to collect the rents, issues and profits of the property and of any per -
<br />sonal property located thereon with or without taking possession of the property affected hereby, and
<br />Trustor hereby absolutely and unconditionally assigns all such rents, iFeues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Trustor's collection and retention of such rents. issues and
<br />profits as they accrue and become payable, so long as Trustor is not, at €;uch time, in default with re-
<br />spect to payment of any indebtedness secured hereby, or in the perfcrmance of any agreement hereunder.
<br />If any event . of default described hereafter In respect to this lived of Trust Phsll have <c urred and be
<br />tinuing. Beneficiary, as a utter of right and without notice to Trustor or anyone claiming under
<br />rrusior, and withc.ut regard to the vaiuo c -f the trust cntate or the interest of the Trustor therein,
<br />{ shall have the right to apply t, any covr, .,awing si ct7mt to appoint a rwceitier of the property.
<br />IL.� y. Inca t lirtus. Benefit tat,, of tt: agent enreentati6•e r� ear w�.rkaae n. ®tr as .,utAre .� entr:
<br />at aa reasonable time up *qtr or in any hurt of the .r. ,�
<br />_ert�� for the purpose -.f ins;t tin p; the xaaa- and
<br />for -he purpe*re of perforv.i.teg, of -, cf t'.;r a :.ts, i! - ;.aut`.� r 1. zed; to prrf .. ^rat under t`i to^rms of Mo% 11'a
<br />{;�. irarnaie •.f fT 1•n n -t v_ Yf s11 '�r xn� -�+.e •.• � t�•,e,t or ra��s col errs of trugi or the•f, ^ic f�'
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