|
<br />r
<br />
<br />83-006413
<br />
<br />fl
<br />
<br />DEED OF TRUST
<br />
<br />This Deed of Trust is made this 2nd day of December, 1983,
<br />by and among TERRENCE SCHMIDT and BARBARA A. SCHMIDT, husband and
<br />wife, each in their own right and as spouse of the other, herein-
<br />after referred to as "Trustor," whose mailing address is 1704
<br />Post Road, Grand Island, Nebraska 68801; AREND R. BAACK, Attorney
<br />at Law, hereinafter referred to as "Trustee," whose mailing
<br />address is P. o. Box 790, Grand Island, Nebraska 68802; and THE
<br />OVERLAND NATIONAL BANK OF GRAND ISLAND, hereinafter referred to
<br />as "Beneficiary," whose mailing address is 304 west Third Street,
<br />Grand Island, Nebraska 68801.
<br />
<br />For valuable consideration, Trustor irrevocably grants,
<br />transfers, conveys and assigns to Trustee, in trust, with po~er
<br />of sale, for the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Deed of Trust, the
<br />following-described property, located in Hall County, Nebraska,
<br />to-wit:
<br />
<br />Lot Seven (71 in Block One Hundred Fifteen
<br />(1151 in Railroad Addition to the Town, now
<br />City, of Grand Island, Hall County, Nebraska.
<br />
<br />together with all huildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and appurte-
<br />nances located thereon or in any way pertaining thereto, and the
<br />rents, issues, profits, reversions and the remainders thereof,
<br />including all such personal property that is attached to the
<br />improvements so as to constitute a fixture, all of which, includ-
<br />ing replacements and additions thereto, are hereby declared to be
<br />a par~ of the real estate conveyed in trust hereby, it being
<br />agreed that all of the foregoing ~hall be hereinafter referred to
<br />as the "property."
<br />
<br />FOR THE l'fJRPOSE OF SECURING:
<br />
<br />(a) the payment of indebtedness evidenced by
<br />Trustor's note of even date herewith in the principal
<br />sum of Seventy-Five Thousand and No/lOO Dollars
<br />($75,000.001, toqether with interest at the rate or
<br />rates provided therein, or the principal and interest
<br />on any future advance as evidenced by promissory notes
<br />stating they are secured hereby, and any and all
<br />renewals, modifications and extensions of such notes,
<br />both principal and interest on the notes being payable
<br />in accordance with the terms set forth therein, which
<br />by this reference is hereby made a part hereof;
<br />
<br />(bl the performance of each agreement and cove-
<br />nant of Trustor herein contained; and
<br />
<br />(el the payment of any sum or sums of money which
<br />may be hereafter paid or advanced by Beneficiary under
<br />the terms of this Deed of Trust, together with interest
<br />thereon at the rate provided in the note.
<br />
<br />To protect the security of this Deed of Trust, Trustor
<br />hereby covenants and agrees as follows:
<br />
<br />1. pa~nt of Indebtedness. To pay when due, the princi-
<br />pal of, and t e interest on, the indebtedness evidenced by the
<br />note, charges, fees and all other sums as provided in the loan
<br />instrUlllents. .
<br />
<br />~
<br />
<br />2. Title. Trustor is the owner of the property and has
<br />the right ~uthority to execute this Deed of Trust in respect
<br />to the property.
<br />
<br />3. Taxes lInd AilSeIllSll!limts. To oay, when due, all taxes,
<br />special <l.8SeJI!illle:hts and all ot.her charges against the property,
<br />
<br />~l--
<br />
|