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CONTS ;d
<br />DEED OF TRUST 85-= 004376
<br />This Deed of Trust is made this 6th day of September__, 19_85- by and among
<br />Wesley Rowe and Marilyn R. 0W2,_I�� bS afiiiin le , hereinafter referred to as "Trustor,"
<br />whose nailing address is HOULt , , AIt3'd, NetSrA9W. Arend Baaek
<br />�tto ey at Law hereinafter referred to as "Trustee," whose mailing address is_ . X
<br />ranr IstanC�,NeDraSkA ; 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 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 />A TRACT OF LAND LOCATED IN THE EAST. HALF OF THE IMF AMMAST QUARTER
<br />(EOEJ) OF SECTION TWEMY -Si•' IFN (27)_L_10WNSFIIP El"R 1( 1) NMH,
<br />RANGE TEN (10) WEST OF THE 6TH P.M., IN HALL, COUN'T'Y, NEBRASKA,
<br />MORE PARTICULARLY DESCRIBED ON PAGE 3 OF THIS D0CUbM.
<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 attached to the Improve-
<br />waits 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 SECURING:
<br />(a) the payment of indebtedness evidenced by Trustor's no `g f 11 t f'1' in
<br />the principal sum of Twenty -Four Thousand One Hundret4sS4.1W.+ together
<br />with interest at the rate or rates provided therein, or the 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 Trustor herein contained: and
<br />(c) the payment of any scam 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 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 />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 scans as provided in rile loan instruments.
<br />2. Title. Trustur 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 />1. 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 tinder tile note secured hereby, such amount as may be sufficient to en-
<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 et;taie described
<br />herein insured against damage by fire and such other hazards as Re.neffelary may require, In amounts and
<br />companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss under such
<br />policies, Beneficiary is authorized to adjust, collect and compromise, At its discretion, all claims
<br />thereunder and, at Its sole option, L+ ant horlzed t„ o tiler apply the ;3r0,:red^, to who re,,t.orat.ton of the
<br />property or upon the indebtedness secured hereby, but payments required by char note shall continue urutfl
<br />the sums secured hereby are paid In full.
<br />5. Re airy Hatntenance and Use. To promptly repair, restore or rebuild any buildings or Improve-
<br />ments now or hereafter on the property; to keep the properry In good condition and rvpalr, 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. Condemnation. in the event. the property, or any part thereof, shall be taken by eminent domain.
<br />beneficlavy is entitled to collect and receive all coxmpennatton wdwich may be paid for any property taken
<br />or for damages to property not taken, and Beneficiary 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 taken.
<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, sad Beneficiary may also do any act It deems necessary to protect
<br />the lien hereof. Trustor agrees to repay, upon demand, any sums so expended by Beneficiary for the
<br />above purposes, and any erect so expended by Beneficiary shall be added to the Indebtedness secured here-
<br />by and become secured by the lien hereof. 8enefictarp shall not Incur any personal liability heenuse of
<br />anything it may do or omlt to do hereunder.
<br />S. Assiltntmenta of Rants. Beneficiary shall have the right, power and authority during tile eon
<br />d -
<br />tinuance of this Deed Trust to collect the rents, Issuers and profits of the properly and of any per-,
<br />sonal property located thereon with or without. taking possenslon of the property affected hereby, and
<br />Trustor hereby absolutely and unconditionally essigna all such rents, Issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Truntor's collection still retention oI such rents, Issues and
<br />profits as they accrue and become payable, so lotig as Trustor is not, at such time, in default with re-
<br />spect to payment of any indebtedness secured hereby, or in the performance of any agreement hereunder,
<br />If any event of default described hereafter in respect to this Deed of Trust shall have .•,c,rte.1 and he
<br />continuing, Beneficiary, as a matter of right and without notice to i'tnstor or auv,nne claiming ,alder
<br />L Trustor, and without regard to the valuc of the trust estate or Cite inlorest of tilt, Trustor therein,
<br />Shall have the right to apply to any court having inr9; <IfrIh,n to appUtilt it recelvet If the property.
<br />9. inns ectaolls, Beneficiary, or Its agents, representativeii or workmen, are authorized t" ontcl
<br />at any reasonable t. lisp upon or fu any part of r he pt"pert y Tot the pntpase of to "I,e , -r Ing r i -„ .ant o'd
<br />for tike purpose tit pktfI)MI'llt any of tilt' acts It If, to pelfotm cadet the tctnr, .o :ntv i.•�n
<br />lnatrusents exerntnd It/ 'r r al nt .
<br />ts1, lrartafer of ProyerrY, If all it env p-al ,I :hr rr. {retc � -t ."), 1,0e,I, .I „t
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