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85,i 001188 CONT5cd
<br />DEED OF TRUST
<br />- This - Dmed of Trust is made this $th day of March , 19 $5 by and among JOAIln
<br />Kisner and of H. hereinafter referred to she Truster,"
<br />whose mailing address is Arend R. BWCk
<br />gQtcaarr��ey at La++, herein$ far referred to as "Trustee,' whose mailing address is X���
<br />(r'I6- Island, NE 6801 and THE OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to an
<br />"Beneficiary," whose mailing address is P. 0. Box 1688, Grand Island, Nebraska 69802.
<br />For valuable consideration, Truster irrevocably grants, transfers, conveys and assigns to Trustee, in
<br />trust, with power of aala, for the benefit and security of Beneficiary, under and Meet to the terms and
<br />conditions of this Deed.. -of' Trust, the follmring- described property, located in H811 County,
<br />Nebraska, to -vit: _
<br />Intl One (1) Teo (2) and Three (3) Buck
<br />TheasuleYer Subdivision, in the City of Grand
<br />Island, Hall County, Nebrasli
<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 />amts so as to constitute a fixture, all of whica; 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 paymet dpi,. �° pT eno�r'a note of even date herewith in
<br />the principal am of�- R17If� °i�t"�'}G"1Vn /i f`fi 193,510.00 ), 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 era 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 sun or some 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 sums as provided in the Loan. instruments.
<br />2. Title. Truetor 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-
<br />able Beneficiary to pay such taxes, assessments or other charges as they become due. -
<br />L. 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 Beneficiary. In case of loss under such - - -
<br />policies, Beneficiary is authorized to adjust, collect and compromiee, in its discretion, all claims -
<br />thereunder and, at its sale option, is s:thorized to either apply the proceeds to the restoration of the
<br />property or upon the indebtedness secured hereby, but payments required by the note shall continue until
<br />the sums secured hereby are paid in full.
<br />S. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or Improve-
<br />ments sow or hereafter an the 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 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- To 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 />Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do any act which
<br />Truster has agreed but failed to do, and Beneficiary may also do any act it deems necessary to protect
<br />the lien hereof. Truster agrees to repay, upon demand, any some so expended by Beneficiary for the
<br />above purposes, and any sum so expanded 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 />S. Assignments of Rents. Beneficiary shall have the right, power and authority during the con -
<br />Vnuaece of thin 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 />Truster hereby absolutely and unconditionally assigns all such rents, iasuea 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 a yabls, . so . lone ae Truster to on a,_h . tios, in A.,fa.,lr with re-
<br />sport to payment of any indebtedneas 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 occurred and be
<br />continuing, Beneficiary, as a matter of right and without notice to Truster or anyone claiming under -
<br />Truster, and without regard to the value of the trust estate or the interest of the Truster therein,
<br />shall have the sight to apply to say court having jurisdiction to appoint a receiver of the property.
<br />9. Inspections. Beneficiary, or its agents representatives or workmen., are authorized to enter
<br />at any reasonable time upon or in any part of the property for the purpose of inspecting the enure and
<br />for the purpose of perfuming any of the acts it is authorized to perform under the terms "f any loan
<br />instruments executed by Trustor.
<br />10. TFsyfer of Property_. 1.£ all or any part of the property or any interest of Trustor therein r
<br />so
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