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TRUST DEED 1 84--'060182.
<br />060182.
<br />THIS TRUST DEED, made this 13th day of danffarl, ,lg 84
<br />be and between:
<br />(A) Rex J. H. Otto and Helen M. Otto
<br />whether one or more; herein
<br />after called " Trustor" whose mailing address is 3621 smith Bl ai;,a Bai;,ta y3_L k
<br />Grand Island .Nebraska and
<br />(B) John A..Wo1f
<br />as "Trustee" whose mailing
<br />addressis- __P_.0'. Box 428- Grand - .island NF 68802- - -and-
<br />(C)'
<br />Tko 1',i "rAt" Narannaj Ba*+U of Grain island as "Beneficiary" whose mailing address Is
<br />-202 West Third Street, P.O. Box 1768- Island_ ATP 6RRn9- -
<br />WITNESSETH: That Trustor, inconsideration of One Dollar ($1.00) and other valuable consideration receipt
<br />whereof is hereby acknowledged, grants, conveys, sells and warrants to Trustee, In trust, with power of sale,, the
<br />following- described property, situated in Hall - - County; Nebraska:
<br />LOT TEN (10) WOODLAND SECOND SUBDIVISION, AN ADDITION TO THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />The Intention being to convey hereby in absolute title in fee simple, Including all the rights of homestead and
<br />dower, together with all buildings, fixtures, improvements and appurtenances thereunto belonging; and all of the
<br />foregoing, together with said property are herein referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING performance of each agreement and covenant of Trustor herein contained
<br />and the payment of the principal sum of ONE HUNDRED THIRTY -FOUR Dollars ($ _134 non _ Dn ),
<br />as evidenced by a promissory note bearing even date at their &%erest thereon which may here: '*-r be paid
<br />or advanced,under the terms of this Trust Deed; both principal sum and interest thereon being payable according
<br />to terms set forth in said promissory note; reference to which is hereby made, at the office of the Beneficiary or at
<br />such other place as the holder may designate in writing, the final payment of principal and interest, if not sooner
<br />paid, shall be due and payable on the 10th day of JULY '19 84
<br />Trustor and Beneficiary covenant and agree as follows:
<br />I. waneny of TNF. Trust. IS lawfully sailed of the Moperty: it he. good nghl and
<br />IAwhitauthority to sell and comay the Property; the Property Is free ..it dear df ell
<br />liana -pd f ncut110{ances eacapt liens now of record; and Truator will w Omw and
<br />daf&ftl the title to the Property -unto this Tnrshm and Its successors and assigns
<br />Ion , agalust'IN cte irwl 01 all persons. Truer., at its expanse, will maintain and
<br />prat9me the Ilan Of this Trust Dead as A lien upon the Trust Property Subject oOf, to
<br />shcu ptimpoea saladrp as of the "it hereof, wig cause this Truer Dead, and each
<br />amendment or supplement thereto, to De :tied and recorded as a mortgage of the
<br />Trust Property In such manner and in such place, and will lake such other action as
<br />In the olumpid of Twat" may be squired by any Preaanl m future law in Order to
<br />Periept, maintain and protect the lien of Ibis Trust Dead, as the Same may bs hom
<br />time to time amended of suPPlamanled.
<br />Z, PepMnl.ai'tkYfatPSl
<br />and IngrN4 Truster shall Punctually pay the principal of,
<br />and.int.lat on, aaftl Ptomisaor, Pots incudina any advances thereto as.pro -iO*d
<br />hsteip On.lbe dates and aE.the phice and in the manner provided thsmtn and will
<br />WnLivalry penhum ail agreemeolw conditions ead provisions of any other security
<br />ini{Upment glean In CDp1+egtl nwith this basta noun .
<br />3. pmse"ituh and tgailrgparrcy of Prfatmty. Truator will not commit any waste
<br />upon the. Property and w114 at all limes, maintain the acme in good order and
<br />a N"p" hid WlR make, from hater to time, all mash, renewals, mplacema ,bl.
<br />atldhlmm amt.Impwadwdpts which arm reasorusbly required to prevent waste,
<br />Ifppatimers4 of drltenimetion of said property. No building or improvement now or
<br />hereafter erected upon the Property shall be altered, mmwed or demolished
<br />wlitloul the pd. wrpmn corfa.h.19anaflcisry.
<br />a, 4ti1M0e.be Prgpatty. Ili case of -Y damage lo, or destruction of, the buildings•
<br />IMP(Dvitlrtptrta of P.edmill property consHluting pan of the Twat Property. whether
<br />"k IM I' ddwpad by In '-- or otherwise, Twat -, at its sofa cost and
<br />surg"I se; wilt prONPtly. reetme, Wait, spFGe and mW itd the same as mainly as
<br />pressi bra to Its copoltbn)mrcbdiatNy prim /o such damage of destruction br with
<br />alr0 chalgee and afUSilone " Trust. may deem appropriate Provided such
<br />GtlAngq ad altefattgna do not materially jeman. the value and utility Of such
<br />tNdYQitg{a. 1NPrpvMisnta and pemonapty, from trust "b"Ino immediately_ prior to
<br />span dsnrsps. OaetwoBds. Trustor Shaft be em milked to- hunnouleament twin the
<br />7rusfee tdlM,m lgt40fthenil hlwraP(%PPrOGaedb mbik7d by Twat", but Only to
<br />the txfao, otiheaottgl solo' eat »nded antler IItF Provision.
<br />4 t a' rysAM TnwFr. it Twator is a onepompub, it will do all things ngddS_y to
<br />pfeNneetu aallexlatenCi, ripple and privileges under the laws of me eras of
<br />its
<br />use Ttaalpt, ai its expanse„ wpi mmnimn w In mSUrU,a approved by
<br />the Pend" w'nh reaptGt s y t e, lightning, ! no P, end m e( arty.
<br />ruffs O by the P+ggl� apllml roast, the mm, J. ads, amt ",u perils
<br />dgwtad by rndmdtd scant lW nq IIA a aadarean,enL. th amount euual to .
<br />Flit arse eft Pa +beat n at+s sup mbiRNmb t wain tlsateo, and by ow nee
<br />•fib' #t sago utn'hst_araa eM ta auNi.a+rtddM seta custpmanlg carrla+t nY ownsrs
<br />ar0 aPHalWe of a4nMla! .trpgnFs and a4 Bprvf urry may l..m for iii
<br />preMpitdn Ttgate, .a edenVfY too trevch oro.r mgarmms, ta ac Ba af6G s y .lay
<br />.fin Nxa W t+m a radueat
<br />for cur Protedrnsn 4y +tebmbb. of the 1 ."I or Ino
<br />respective parties, All insurance anodes maintained pursuant to this Twat Deed
<br />Shall name Trustee and Beneficiary as insureds, as their respective Interests may
<br />appear, and provlds that there shall be no cancellation or modification without
<br />fifteen days pilot written notification to Twelve and Beneficiary. In the event any
<br />policy hmaunder i. not renewed on or before fifteen days prior to Its expl.tion
<br />date. Trustee or Benaflolary may procure such insurance and the cost thereof shall
<br />be added to the loan secured by this Trust Deed and well Deer Inlemat at the
<br />greater of the imerest ms spmolfled therein or the highest interest rate aulhbrlxed
<br />by the laws of the State of Nebraska. Trustor shall deliver to Beneficiary the original
<br />policies of Insurance and renewals thereof or memo copies of such policies and
<br />renewals thereof. Failure to furnish Insurance by Torsi., or renewals as required
<br />hereunder shall, at the option of Beneficiary, conetilum a default. All unearned
<br />premiums are hereby sualgrad to Twitted AS additional security and a sale and
<br />conveyance of the Property by the Trustee shall operate to convey to the purchaser
<br />the Twstm's Interest in and to all pmides of Insurance upon the Twat property,
<br />7. Texas and AseaawNnts Trustor shall pay all thesis and special assessments
<br />wwed or assemed against or due upon the Property before delinquency, and will
<br />deliver to Beneficiary, copies of receipts showing Paymanl of such -taxes and
<br />special aeseasmems. If Senaticiary Shall $o request. Trustor agraes that there shall
<br />be added fo each Persuil- payment required to be made nmeundnr an amount
<br />estimated by Trustee to be Sufficient to enable Truster to pay, al Nast 30 days
<br />belom delinquency, all mss& assessments or other . public charges against the
<br />Twat Property, the Nolte secured_ by 'his Trust Dead, or uPon account of tae debt or
<br />the lien of this Trust Deed, together with premiums err- fneorence required to be
<br />Provided. under this Trust Deed and no Interest shall be payable to Trustor in
<br />respect thereof. Upon demand by Tibetan, Twstor. shall deliver to Trustee such
<br />admponal sums of money. as are necessary to make up any deficiency in the
<br />a mounts necessary to enable Twti a to pay any of the foregoing Items.
<br />8. Add1113o ei Llaps Trust. shalt make ell payments of internal and principal and
<br />payments of any other charges fees, and - p..... contracted to be paid to any
<br />existing lien hold.. or prior benaficlerfas under any prior Trust Deed, M.lgag. or
<br />other security agmemem, below the date they are delinquent and to pay any other
<br />claim which jenperdizes the security granted herein.
<br />g. pmtedifan W Badefldlary's Sent dry. Should Trust. fall to make any payment,
<br />fall to do any wl as herein provided. or If any action or proceeding is commenced
<br />which materially affacls BanahWmy's interest in the Property, including, but not
<br />limited to, mminent domain, bmdlvenoy arrangements or prpcaerpogs. fnvoNing e
<br />Wnkwpt dr decadent, Ines Beneficiary or Twat" but without obligation to do Sr,,
<br />and without notice to or demand upon Trust- and without releasing Truator Irom
<br />any obligation he m,nder, may make or do the same, and may pay, purchase,
<br />conteaf or compromise any encumbrance, charge or {tan, which I th Judgement of
<br />either appram to affect SAW profanity. in Bxeicimng any Such powers the
<br />Sanefici.ry or Twat" may Incur any liability and expend . wnet.- amounts,
<br />mciading diab.saments lit masonabb, attorney's foes, which In their absolute
<br />tl:adrmbn, may be necessary. In the swell that Twat., Shall fail to procure
<br />InavmnGe . In pay texas, and Special asememos nta . to make any p.y Slits to
<br />axlstinp m price den holders o.rencuriea, the Banollaary may .,hiller such
<br />W.K!and mass such P yore . a. AP aema h,culted . evGandad by Banahciary
<br />W TNeles lain aGGprclaiic= -In the P,owlSione of this Trust Deed at, Sa ,,wd hereby
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