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DEED OF TRUST
<br />CONT5:d 85--005608
<br />Nellecio L. Ramirez and
<br />W.""fi l�af�e� —&v��y and among Donna Mae Ramirez,
<br />nf5 ac r>nanf.c y r referred to as "Trustor,"
<br />whose selling address is Circle Grand�IslcT,; NE Arent Baack
<br />Attorney at Law, hereinafter referred to as "Trustee," whose mailing address i 1Ce box
<br />StraIId Island. ; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as
<br />"Beneficiary," whose sailing address is P. 0. Box 1.688, 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 subiect to the tests and
<br />conditions of this Deed of Trust, the following- described property, located in Hall Countq,
<br />Nebraska, to -wit:
<br />Lot ;vine (9), Block Three (3), in Stewart Place Subdivision,
<br />in 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 />melta 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 conveved 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 note of even date herewith in
<br />the principal sum of Five Thousand and INO/100 Doll_ir$$ 5i0W,00 ), together
<br />with interest at the rate or rates provided therein, or the principal and interest on anv
<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 lrvoster Lerein contained; and
<br />Ic) the pavment 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 Trust. Trustor hereby covenants and agrees as follows:
<br />1. Pa_�- ._•sent o£ Irdebtedn:,ss. To pay when due, the principal ,�f, and tt.e Interest on, the indebted-
<br />ness evidenced by the note, charges, fees and all other Mmes as provided In the loan instruments.
<br />2. Title. Trustor is the owner of the property and has the light 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 deltngaent, 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-
<br />able Beneficiary to pav 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 'case of loss under such
<br />Policies. Beneficiary 1s, authorized to adjust, collect and compromise. In its discretion, all claims
<br />thereunder and, at fts !-1e opt Tor,, fs sat h. :r l: e.f t., .cwt her appiv c. ororeeds to the rrstora!ion of the
<br />property or upon the Indebtedness „ecured hvrebv, but payr „ents required by the note shall continue until
<br />the sums secured hereby are paid In full.
<br />5. Re lr, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improve-
<br />ments now or hereafter on the property; to keep Cite property 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 />ar 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. Condemnatia,. 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 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 Reneficiary. 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. Trustor agrees to repay, upon demand, any sums so expended by Beneficiary for the
<br />above purposes, and any stet 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 anv personal liability because of
<br />anything it may do or cleft to do hereunder.
<br />9. INairurants of Rents. Beneficiary shall have the right, power and authority during the con-
<br />tinuance of this bead o1' Trust to collect the rents, issues and profits of the property and of any per -
<br />scxlsl property located thereon with or without taking possession of the property affected hereby, and
<br />Trustor hereby absolutely and uxtconditionally ssafgns all such rents, Issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Trustor's collection .end retention of such rents, issues and
<br />profits as they accrue and become payable, so Ica g as Trustor is not, at such time. In default with re-
<br />apect: to payment of any Indebtedness secured herebv, or in the performance of any agreement hereuader.
<br />If any event of default described hereafter In respect to this tk•ed of rrus[ ,hall have •c ur n *d and be
<br />continufam. Benei'i.clary, as a matter of right .end wltis,ut nntice to Trustor or anvotie claaming tinder
<br />.i_rurtnf. .and wlt9wwr T,.gurd to the value of the trust "state fit' tls• Interest of the Irtlatot therein,
<br />stall t,ave the right to apply to any rcau -t ttavinx nrt�dl�-Mm to appoint a recelver of the property.
<br />�. ttspet riots. Bencfiriar', r .ts rg nt.., repreynnt,ttives ur w rkmen, nrl. t.+ ,•,ttrt
<br />.e[ anY reanc Ira 7rlk t fee �.,t us, ur In ,N., . a,! f ..v. ; u,perr t for t he purp ?se I in spe,'t 1nw; the %arP m;:i
<br />pt,H,,Miny nnv'1 the. .u.s , is to nor l :r^ t,, pt•f„rw .m,1ar the form a”: 1, �to
<br />.• %Ntrtfa!!e}lt .• r4erut r :,� r Ti'n Wf :'S
<br />it alt..r a +v f., :,i :•ry rrt .. ., t� i , .. ., -1 r.
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