|
<br />NEBRASKA DEED OF TRUST
<br />(With Power of Sale)
<br />
<br />83-
<br />
<br />003669
<br />
<br />
<br />THIS DEED OF TRUST made this ~ day of July
<br />between JohnR. and Patricia J. Teare Husband and Wife
<br />whosemmlingaddress is 4508 Quail Lane. Grand Island. He. 68801
<br />as Trustors, Stewart Title Guaranty Company
<br />"Whose mailing address is P.O.. Box. 2029. Houston. Texas 77001
<br />as TrUstee, . and NorwestFinancial. Nebraska, Inc., whose. mailing address is 2337. N. Webb Rd
<br />B.D.. Box 1373. Grand Island. Nebr. 68801 as Beneficiary,
<br />WITNESSETH, Trustors hereby irrevocably, grant...baI:g'ain, sell, and convey to Trustee in trust, with power
<br />of sale, thefoHowing described property in .. ital1. . County, Nebraska:
<br />
<br />Lot'l'wentyEight (28) in Hidden Lak.es Subdivision Number Two (2), being a part of the
<br />Southeast Qnarter of the Northeast Quarter (S~NEJ') and a part of the North Half of the
<br />Northeast QUarter of the Southeast Quarter (:N'j!!l'mr/..sEA-) of Section Thirteen (13), Township
<br />Eleven (11),North. Range Nine (9) \<lest of the 6th P.l1., Hall County, NebJ;'aska
<br />
<br />,19~
<br />
<br />
<br />Together with tenements, hereditaments, and appurtenances thereunto belonging or in anywise appertaining and the rents, issues and
<br />profits thereof.
<br />
<br />'ThisconveyanCl' is intended for the purpose of ~curing the payme.nt to Beneficiary of Trustors' indebtedness evidencecLl:-l a ll.eval'ling
<br />Loan Agreement dated ..July 11, , 19J:5...., pursuant to which an advance has been made in the sum of $~~~,
<br />together with charges according to the terms of said Revolving Loan Agreement, and also any and all indebtedness, sums, future advanc:es,
<br />and charges now, or as may hereafter be or become owing by Trustor to Beneficiary, under said Revolving Loan Agreement or any future
<br />Revoh'ing Loan Agreement between Trustor and Beneficiary up to a maximum unpaid balance of $25,000, and also payment of any sums
<br />expended or advanced by Beneficiary to protect thl) security hereof. Default in making any payment shall, at the Beneficiary's option and
<br />without notice or demand, render the entire unpaid balance secured hereunder at once due and payable.
<br />
<br />To protect the SI!CtLrity {)l this Deed of Trust, Trustor covenants and agrees:
<br />
<br />1. To keep the property in good condition and repair; to permit no waste thereof; to complete any building, structure or improvement
<br />being built or aoout to be built thereon; to restore promptly any building, structure or improvement thereon which may be damaged or
<br />destroyed; and to c.omply with alUaws, ordinances, regulations. covenants, conditions and restrictions affecting the property.
<br />
<br />. 2. To pay befon. delinquent all lawful taxes and assessments upon the property; to keep the property free and clear of all other charges,
<br />liens or encumbrances impairing the security of this Deed of Trust.
<br />
<br />3. To keep aU buildings now or hereafter erected on the property described herein continuously insured against loss by fire or other
<br />haza.rds in an amount not less than the total debt secured by this Deed of Trust. All policies shall be held by the Beneficiary, and be
<br />in suCh companies as. the Beneficiary may approve and have loss payable first to the Beneficiary as its interest may appear and then
<br />to the Trustor. The amount collected under any insurance policy may be applied upon any indebtedness hereby secured in such order as
<br />the Beneficiary shall determine. Such application by the Beneficiary shall not cause discontinuance of any pl'oceedings to foreclose this
<br />Deed of Trust or c'llI'e or waive any default or notice of default or invalidate any act done pursuant to such notice, ln the event of foreclosure,
<br />aU rights of the Trustor in insurance policies then in force shall pass to the purchaser at the foreclosure sale.
<br />
<br />4. To obtain the written consent of Beneficiary before selling, conveying or otherwise transferring the property or any part thereof and
<br />any such sale, conveyance or transfer without the Beneficiary's written consent shall constitute a default under the terms hereof.
<br />
<br />5. To defend any action or proceeding purporting to alIect the security hereof or the rights or powers of Beneficiary or Trustee.
<br />
<br />6. Should Tru$l;or fail to pay when due any taxes, assessments. insurance premiums, liens, encumhralwes or other charges against the
<br />property hereinabove described, Beneficiary may pay the same, and the amount so paid. with interest at the rate set forth in the note
<br />secured hereby, shall be added to and become a. part of the debt secur.ed in this Deed of Trust as permitted by law.
<br />
<br />IT IS MUTUALLY AGREED THAT:
<br />
<br />1. In the event any portion of the. property is taken or damaged in an eminent domain proceeding, the entire amoullt of the award
<br />or suCh portion thereof as may be necessary to fully satisfy the obligation secured hereby, shall be paid to Beneficiary to be applied to
<br />said obligation.
<br />
<br />2. By accepting payment of any s.um secured hereby after its due date, Beneficiary does not waive its right to require prompt payment
<br />when due of.allother sums so secured or to declare default for failure to so pay.
<br />
<br />3. The Trustee. shall reconvey all or any part of the prop.;rty covered by this Deed of Trust to the. person entitled thereto, on written
<br />req~.st of the. Trustor and the Beneficiary, or upon satisfaction of the obligation secured and written request for reconveyance made by
<br />the Beneficiary or the person entitled thereto.
<br />
<br />L
<br />
<br />-1
<br />
<br />L
<br />
|