|
coNTi:d 85- 005634
<br />DEED OF TRDST
<br />This Dead of Trust is made this 8th day of OCtober 19 $5 , by and among E. iayerne Hae 3n hereinafter referred to as "Trustor,"
<br />whose mailing address is ;
<br />Attarmey at Law, hereinafter referred to as "Trustee." whose mailing address is_ I'tTl iee�@I'
<br />[Wand Island NE 58801 ; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to as
<br />"Baaaficiary," whose mailing address is P. o. Box 1688, Grand Island, Nebraska 66802.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to Trustee, in
<br />trust, with powr of sale, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of Trust, the fallowing- described property, located in Hall County,
<br />Nebraska, to -wit:
<br />Lot One (1) on Mainland in Section Eleven (11); Lots One (1)
<br />and Two (2) on Mainland in Section Fourteen (14), and the
<br />North>�est �Rlua'tei' (N�P�) of Section Twenty -Those (23) all in
<br />Township Thn (10) North, Range Nine (9) West of the 6th P.M.
<br />Hall County, Nebraska.
<br />together with all buildings, improvements, fixtures, streets, alleys. passageways, easements, rights, privi-
<br />leges and appurtenances located thereon or in any way pertaining thereto, and the rents, issues, profits,
<br />reversions and the remainders thereof, including all such personal property chat is attached to the improve-
<br />ments so as to coastitut# a fixture, all of which, including replacements and additions thereto, are hereby
<br />declared to be a part of the real estate conveyed in trust hereby, it being agreed that all of the fore-
<br />going shall be hereinafter referred to as the "property,"
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the paymea , : i , b r ��j tPA note of even dace herewith in
<br />the principal sum of�3c _i+r15'r`�57'T'Src' "'-'_Sryi�,S 8$, %i.23 i, together
<br />with interest at the rate or rates provided therein, or the principal and interest an 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 agreemen* . and covenant of Trustor herein c- ontainrd; and
<br />(c) the pavment of any sum or stuns of monev which may be hereafter paid or advanced
<br />by Seneficiary under the terms of this Deed of Trust, together with interest thereon at the
<br />rate orovided in the note.
<br />To protect the security of this Deed of Trust, Truster hereby covenants and agrees as follows:
<br />I. ?avment of Indebtedness. To pav when due, the principal of, and the interest on, the indebted-
<br />ness evidenced by the note, charges., fees and all other stores as provided !n the Loan instruments.
<br />Z. 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 />3. Taxes and Assessments. To pay, when due, all tares, special assessments and all other charges
<br />against the property, before the same become delinquent, and, In tae 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 pay such taxes, assessments or other charges as they become due.
<br />4. insurance. 10 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 pava'ole to beneficiarv. In case of loss under such
<br />policies, Beneficiary Is authorized to adjust, collect and compromise, Sn its discretion, all claims
<br />thereunder and, at its sole uptj,,r,, tr. as; ht•t i ;.�•<i ettl apply ti,e proceeds to t!x- restoratiott of the
<br />property or upon the indebtedness secured liereet-, but payments required by the note shall continue until
<br />the sums secured hereby are paid in full.
<br />5. R alr� Maintenance_ and Ilse. To promptly repair, restore or rebuild any buildings or improve-
<br />vents now or hereafter on tfie property; to keep the 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 />or permit anv nuisance to exist nor to diminish or impair the value of the property by any act or omission
<br />to act; and to comply wish all requirements of law with respect to the property.
<br />5. Comtdenmation. In the event the property, or any part thereof, shall be taken by eminent domain,
<br />Beneficiary is entitled to collect and receive all compensative, which may be paid for any property tauten
<br />or for damages to property not taken, and Beneficiary shall apply such compensation, at its op[ion,
<br />either to a reductloct of the indebtedness secured hereby or to repair and restore the property so taken.
<br />7. Performance lry Bexficia.._ may. beneficiay mav, but shall have no obligation to, do env act which
<br />Trustor has agreed but failed to do„ and Beneficiary mac also do any act it deem 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 sum so expended by Beneficiary shall he added to the indebtedness secured here-
<br />by and become secured by the lien hereof. Bettrficiary shall not Incur anv personal liability because of
<br />anything It may do or malt to do hereunder.
<br />a. MaipMtrauts -of_ Rents. Senaficisry shall have the t 1ght , power and Authority during the con-
<br />tinuance of this Deed of Trust to collect the rents, Issues and profits of the property and of any per -
<br />soaal property 2ocatrd thereon with or without taking possessou,n of the property affected hereby, and
<br />Tr%wtor hereby absolutely and tarconditionally assiitns all such rents. Issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Trustor's coilectlot; and retention of such rents, !rives and
<br />Profits as they accrue and become payable, no lorte, as 7rustvr Is not, at such time, in default with re-
<br />ap*ct to pay'asnt: of any fndebte6aeas secured herebv, nr In the performance of any agreement lisreunder.
<br />If any event of default described hereafter in respect to this deed of - 'trust snail have o,vurrtd and be
<br />costi.auiaa. Bletlrfit.iary, as a Matter of right and without notice to Trustor or anva,ne claiming under
<br />Tr,Al Or . and rl.thasut r.axard to the valor of the trust vst.ate or the tutee, ;st of the Trustor therein,
<br />anal have the rii;ht to apply to any ccgrrt having, jar 14ch(-, l'n, to sppc,fnI a reoe !vv r of t!w "roller ty
<br />• Itisjlcliring, Btf*f I, I ry, err its arrnt r_rpte.ant at lent, nr - et,rkmer., art, outko,rIZ -1 to ,•rater
<br />at any reaPt#iab4o tlae a,pco or In any part „ s . ;,ropertr .`or ti nvr ;, -s.+e <.t '—p- t low laser one,
<br />for ttw purpose oI prriorteing any of the T, it t.
<br />{.t•r• .. ',et tt, rixs ! anv a a
<br />fxtAitttaf Y!ntw RMntisi a'-d 'ay ?"W or, •. H•
<br />l[atMwfer r,1 fttl,+•fta. !t all = =t x:;, Ira,rt c.+ i.,- .,...,; -, :a er. ,
<br />R
<br />
|