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<br />CONTS:d n Q
<br />DEED OF' TRUST' 85 -� 005068
<br />This Deed of Trust is made this 7th day of October 19 85 by and among Rayrllond T.
<br />L,assonde and E. Marlea LasSonde hereinafter referred to as "Trustor,"
<br />whose mailing address is -1 — ;NE Arend R. Brack
<br />ray a La hnr�inaf-ter referred to as "Trustee," whose mailing address is ,-Box 790--
<br />n Island', Nr ; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as
<br />"Beneficiary," whose mailing address is P. 0. Box 7.688, Grand Island, Nebraska 68802.
<br />For valuable consideration, Trusror irrevocably grants, transfers, conveys and assigns to Trustee, in
<br />trust, with power of sale, for the benefit and security of Beneficiary, under and s�ujlject to the terms and
<br />conditions of this Deed of Trust, the following- described property, located in Hall County,
<br />Nebraska, to -wit.
<br />The South Eighty (S80') Feet of Lot Eight (8), Block One Hundred
<br />Twenty -Nine (129), Koenig & Wiebe's Addition to the City of
<br />Grand Island.., Hall 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 attached 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 conve":ed in trust hereby, it being agreed that all of the ftre-
<br />going shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by Trill It >�r Ttp f n
<br />the principal sum of Thirteen Thousand Two Hundred /' '(�+ toget er
<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 perforrtnmre of each agreement and covenant of 'fritstor 'tn•rcin contained; and
<br />(c) the payment of any sum or sums of money which may he 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 T rust, Trustor ix•reby covenants and agrees as follows
<br />1. avment of Indebtedness. To pay when due, the principal of, and the interest on, rise indebted-
<br />ness evidenced by the note, charges, fees and all other sums as provided in the loan instruments.
<br />2. Iitle. 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 clue, _.11 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 herebv, such amount as may be sufficient to en-
<br />able Beneficiary to pay such taxes, assessments or other r-harres ,� they become due.
<br />4. Insurance. To keep the improvements now nr hereafter located on the real estate described
<br />herein insured against damage by fire and such other hazards as 8enefiLiary may require, In amounts and
<br />companies acceptable to Beneficiary, and will, loss payable to Benefit Lary. In case of loss under such
<br />policies, Beneficiary is authorized to adjust, collect and compromise, in its discretion, all claims
<br />thereunder acrd, at its sole option, la .-„1 h,r I d t ,itii— f- the • +roes to t'ee rest oriLion p the
<br />property or upon the indebtedness secured l rct v, but pavm ..,ts required by the note shall continue until
<br />the sums secured hereby are paid in full.
<br />5. Repair, Maintenance and Use. Jr, promptly repair, restore or rebuild any buildings or improve-
<br />ments now or hereafter on the property; to keep the proj,erry in good condition and repair, 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 ;aw 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 recelve all compensatiom which may he 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 indebtednesa secured hereby or to repair and restore the prnj,crfv rap taken.
<br />7. Performance_1�Beneficiarv. Beneficiary tray, but shall have no obligation to, do any act whit?;
<br />t:
<br />Trustor ha agreed but felled to cto, and Beneficiary may also do any act it deems necessary to protect
<br />the lien hereof. Truaeor agrees to repay, upon demand, any sums so expended by Beneficiary for the
<br />above purposes, and any sum so expended by Beneficiary nha]] be added to the Indebtedness secured here-
<br />by and become secured by the lieu hereof, Beneficiary shall not incur any personal llabllity because of
<br />anything it may do or omit to do hereunder.
<br />9. Asaijiiments of Rents. Beneficiary (;hall have the. right, power and aut.heri.t}' during the con-
<br />tinuance of this Deed of Trust to collect the rent: s, Issue:: and profits of the property and of any per-
<br />sonal property located thereon with or without taking posseer >ion of the propert'✓ affected herebv, and
<br />Trustor hereby absolutely and unconditlurally assigns a]1 such rents, fnsues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to 'lyuslor's eollecst lcm and rotenc Ion of such rents. Issues and
<br />Profits as they accrue and became payable, B lung as Trusr(ir Is not, at such time, in default with re-
<br />spect to payment of any indebtednesa secured hereby, or in the nerformance ui any ;egrcement ht.tvunder.
<br />If any event of default described hereafter in resl,ect to thjRi 1)eed M Tr—t •:hell have - ,.,:Iced and h,
<br />coat lnuing, Benef lrlarv, as a matter of i'Igilt and wit bout noire to rd•:a or nr env +n• 1a1.mLnf, mnier
<br />'Yrusf or, sari ur Lt.hout re >;�rd Lo t. he yaluc tru t gat. ate nt the tut rc ..t of tiro Iru!•t.,r (hart-In,
<br />shall. have the cJ d,hr. to apply to in• „urt h.iyin}t
<br />jill , -:d l: t n Ie app, •IitI I,.,. c,ver .f Ih, nl:,pel I�.
<br />4. Ins eotfnns. Rc. ne 11, i:u, r ltc of cut rcjr•nt ,,t fy. r w:rkmon, ,I, ., t'„Iluc;i t,- area e..
<br />at any r.aa<Dable tame upon or I an, p ",t f t'n' I tope It I. 1 ! n,
<br />for the } rrpoge f pea fn•r lay nnv ,,f I In .n t l• li i,. ,,,I h rl:, e' !, rr „ �.•
<br />111"t cxe• ut i h. I u•rc r.
<br />I oee;f e•r ,, i.r''1 ._r :. If .1! ,; n,
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