|
<br />I
<br />c~.UEED
<br />
<br />002880
<br />,1984
<br />
<br />29th
<br />
<br />r
<br />
<br />THIS TRUST DEED, made this
<br />be and between:
<br />(A) Rand C. Ritchie and Glenna J. Ritchie,
<br />of survivorship
<br />after called "Trustor" whose mailing address is
<br />
<br />aayof
<br />
<br />May
<br />
<br />84-
<br />
<br />Husband and Wife, Joint Tenants with Right
<br />
<br />, whether one or more he[eln-
<br />4309 Quail Lane, Grand Island, Nebraska bSSOl
<br />
<br />and
<br />
<br />(8) The First National Bank of Grand Island. Grand Island, Nphraska
<br />
<br />as "Trustee" whosemaUlng
<br />and
<br />
<br />addressls P,O. Box 176S, Grand Island, Nebraska 68802
<br />(C) The First National Bank of Grand Island
<br />
<br />as "Beneficiary" whose mallingaddres.sls
<br />
<br />P. O. Box 1768, Grand Island, Nebraska 68802
<br />
<br />
<br />WITNESSETH: That Trustor, in consideration of One Dollar ($1.00) and other valuable consideration receipt
<br />whereof is hereby acknowledged, grants, conveys, sells and warrants to Trustee, in trust;wlthpowerof sale, the
<br />fOllowing described property, situated in Ha 11 County, Nebraska:
<br />
<br />Lot Eighteen (18), in Eagle Lakes Estates Subdivision,
<br />Hall County, Nebraska
<br />
<br />The intention being to convey hereby in absolute title in fee simple, including all the rights of homestead and
<br />dower, together with all buildings, fixtures, improvements and appurtenances thereunto belonging; and all of the
<br />foregoing, together with said property are herein referred to as the "Property,"
<br />
<br />FOR THE PURPOSE OF SECURING performance at each agreement and covenant of Trustor herein contained
<br />. , lJne nunareu s 1 xty-tnree *)
<br />and the payment of the principal sum of U '10tl Dollars ($ 163,000 00* .
<br />as evidenced by a promissory note bearing'~~~~'ditgl~~th'li'fates-O(iiiterest thereon which may hereafter be paid
<br />or advanced under the terms of this Trust Deed; both principal sum and interest thereon being payabieaccordlng
<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, Ifnot sooner
<br />paid, shall be due and payable on the first day of June X~ 2009
<br />
<br />Trustor and Beneficiary covenant and agree as follows:
<br />
<br />1 WeR'enty 01 Title. TruSIOI' IS lawlully s612ed of the Prooetly, ,I has good fight and
<br />lawfUl aulhorHy to sell and convey thtJ Propelty; Hle Property 1$ free dnd clear o! all
<br />HenS and encumbrances except hens now of reeo/a, and TruSIOr WIll warrant and
<br />defend the IItle to the Property ulllO the Trustee ana ltS Sl,lcceSsors and assigns
<br />ioreYef, against the clSlms of :ill! persons_ Trustor. at ItS 8Kpense, will mamtaln and
<br />pre_rv1iIthe lien 01 this Trust Deed as illlsn uPoflthe T"U51 PlOperty suojecl only to
<br />;;flcumb'ii1f!(;oii'S, t:__;iilin\,l il':l t)i Hut u..te hef~i, Wtii C"U$& thiS Trust Dew, ilnd each
<br />amendmenl or supplement thereto, to be tiled and recorded as a mortgage 01 the
<br />Trust Property In Su.ch manner at'ld In such place, at'ld will lake such other action as
<br />In the oplnkm 01 Trustee may De feQUlIflci by any plesent Of future law In order 10
<br />perlect, maintain ano protect the hen ot Ihls TruSf Deed, as the same may be Itom
<br />lime to lime amended or supplemented
<br />
<br />2. P.y,,*,' ot Pri~"'1 and In'-..t. TrustQI sMU punClually pay 1M p"nClpal 01.
<br />and mlerest on, saJd promiSSory note Including any advances therelo as plovlded
<br />herein 01\ the dates and atlhe ptal:e and in Ihe manner provided Ihera.,' and will
<br />punchJally perform eUagreements, condltlOns ana plovlSlons ot any other security
<br />instrument gl't9n il\ connectlon ""llh thIS transaction
<br />
<br />J. ,....,...tlOn and "'Intenanctl of P~. Trustor WIll not commH any waste
<br />upon ths Property and ""Ill, at aU tunes, maintain the same .n good GrOer and
<br />col\d~t1on anu wtll make, horn time to timoi, all repairs, renewals, replacemer.ts,
<br />~dditlotls and implOlfamenls which are reasonatlly reqUired 10 prevent waste,
<br />lrnp4irment, or deterioration 01 sala plOperty NO building or Improvement now or
<br />h<!rea.fter orected upon the PIOpeft~ shall be a!lereO, H3move<l or oemollshed
<br />w1thoulthe prior written consent 01 Benel,clar,
<br />
<br />4_ ~ to Ptoparty.ln casu of an~- aam~ga :0_ tH tje-S-!'<JG~'Qn oi, In", [mud'f\Qs,
<br />lffipfOl/em.nts or personaJ property constlt.,.:tll'lg part Ollha Trust PIOPtHty. whelher
<br />such loss Is COveted by Insurance 01 otherWise, Trustor, al ItS. SOle cost anti
<br />expense, will pr~l~ !0s.tore, fapilM, /&plal:!! af'lO rel)wJd !he- same as nearly as
<br />pr.cUcable to ItsCOnd:t\on ImmeoUttef)' prlO! 10 such Clamage or deSlluctlon or w,th
<br />SUCh challQes anu allerallo'ls as Tr...sl(}, may de-ern applopll,Htl prOVided :;uch
<br />cllanges ~nd alterations do nOI malerlall) !e:>:sen l~e ~alu(,' <I'l(j ullJ!\y oj such
<br />buildmgs, Improvements ,lltl(l personality /fom thai e:ostmg tmmedlaletl' POOl 10
<br />!luCh damage Of deshucllon Tru!i;lor ShaH b8 tl'ntllled to lftl'Tlbl."s....lnilnt 110m the
<br />Tlust" to [h& I'u:tent 01 tn/i! flet il\SlJfi:lflCe proceeds ,..c81vt!d tJy T'\.l:llee, out ani)' 10
<br />the edenl of the actual sum el(p6n<.Joo <,lI'Ider th.s pIOY"IO"
<br />
<br />5. CDrpQ~.t. TAlatloH'. H Tl'IJ.-l'jIOf 's a '.v'pQ'illlC.'f"i, .1 '"',' }u ali lhH"lQs neCElSSIUy 10
<br />preJervilllS corporal# e!<ISlenCe. f'9tlh, <:l"d p"vlieQc~ ,.'..:lel !ft;; la...", 01 !he ;lldle "I
<br />1~5 incOrporation
<br />
<br />~~~~l~~\~:~~:~:~ :\I~S.~:~~~t~ I~~' ,:::~;:::'~,~~;~1 d:.~j\"-
<br />
<br />C'-;JIttH!vlmo me Property al;!ams1 1<:'>58 by 1"11_ iillh1rlll'lg. .;!n>!jt L,w,l,~
<br />CO'tl!'"M tI" !ltal'l(,\jJr(1 1IJ<11!l1'l'~OO (;o~e'Elgf.- e"dm"0m~f\t, ," <<"', eql.l.ul to at
<br />ltIafit on'!t hvntlr~ I>e<(,\tf\t o! 1I~ !'lH II!1iP!;>(;ftft'l(>!'l\ .ollu/.' \"",,,.,,1 ",'(j 'f\'Surallce
<br />..gllB\l$1 !ilK~ othlf< h,M;Jf(fli!llruj '" svU'lltl<>('l,w1l'l1> 11\ "\J~I~'f1,,1'" " ",j,~ by OW"'''$
<br />
<br />:~.~:'~iI!i:~$~~ :',7t~~,q~~;:;~tI~w:';'~j~:r ~=;:~:~2f~~~;,t~ ,I',
<br />'.t7ffl hl1'li' 11::, l\el"~ '~""I51 10' It,,, ",(,Jr.'.l';;I" l.r, '"5;>''''''-''' "I 1"(1 "',il<H":;'~
<br />
<br />
<br />
<br />respectIVe parties. AU Insurance policIes maintained pursuant to this TflIst Deed-
<br />shall name Trustee and BeneUciafY as InsuredS, as Lhl!lif respeclll/e Interests may
<br />appeal, and prOlfide that there Shall he no car'!cel~t/on or modifica_llon witl10ut
<br />IIHeen days prior wlllten notlflcatlon to Trustee and Benlllllclaty, In the_event any
<br />policy hereunder is not renewed on ar before fifleen days prior 10 lis ~plr.Uon
<br />dale, Trustee or Beneficiary milY procure SUCh Insurance and Ihl!! cost thereof shall
<br />l;H; ~udw to tho; ;v&.fl btiC\,lf.;iu by thi~ TfU!:.t Ott&d .UtU ::;h.ii bo:t., iO\&ffAt .i tho;
<br />graeter QI thl!! lnlerest rate specified therein Of the h.lghfllill Int.rNt rile aUlhorlzed
<br />by the laws 01 the Stale 01 Nebraska. Trusto! shall deliver 10 atoneflclary the. original
<br />policies or inSUrance and renewtlS thereof or memo caples of :ouch. policies and
<br />renewals thereol, Failure to furnish insurance by Truslor, Of renewals as !equlr&d
<br />n9feunder shall, at Ihe option of Beneuciary. constitute a datilult. All unearned
<br />premiums are hereby assigned to Trustee as addiUonal securlly and a sale lIlnd
<br />convey.nee ot thE! Properly by the Trustee shall operate to convell to the purchl$wr
<br />the Tlustor's interest in and to all poliCIes 01 insuranl;e upon the TflIst Properly.
<br />
<br />7 T.II.. and ".....menl., Trustor shall pay an taxes and speCial assessments
<br />levieCl or assessed against 0' due upon the Property belore delinquency, and wilt
<br />delll/sr to Benellciary copies 01 receIpts showing payment 01 such taxes and
<br />special assessments, If BenefiCiary Shall so request, Trustor agrettS thai there shall
<br />be added to each periodiC payment reqUired to be made heraundel an amount
<br />estimated by Trustee to be sulhcient 10 enable Trustor to pay, at least 30 days
<br />before dtl'hnQuency, all lsxes, assessmenls or othel publiC charges against the
<br />Trust Propert~.tne NOle secUled by :his T'ust Deed, or upon account 01 the debt or
<br />Ihe ;Ien 01 thIS Trust D&ed, logether Wllh premiums tOI If\suranCi'l lequued 1(\ be
<br />prOVided uncler Ihls Trust Deed and no Interest shail be payable 10 Trustor In
<br />'aspect theleol Upon demanq by TrtJslee, Truslor Shall deliver Trustee such
<br />i!OOH!O'l;;!.! sums Oi mOf1ey i!~ i!'~ 'H~l:eSsary lu mai'Ce up any in 11"1e
<br />.)rI10unis necessary 10 enable Trus.tee 10 pay any of t!'te foregoing Items
<br />
<br />e AddltkMwl Lien.. Trustor Shall make ali payuu'hlts 01 Interest ana pnn(;lpal and
<br />paymants of any othel charges, lees, and ojxpenses conlfactad 10 be paid to any
<br />Bxislmgllen holders or prior banelJClaries under any prior Trust Deed, MongaflB or
<br />oilIer security agreement, before the data Ihey are deilnQuenl and 10 pay any ather
<br />claim which leopiirdlZes the security granted herein
<br />
<br />9 PrQt~t1on of BeneUclery', s.curlty, ShOuld Trustor lall to make afly paymenl,
<br />faUlo do a,,)' act a3 n-erelfl provIded, or it any action or proce..dlnQ is commenced
<br />....nich mateflaUy affects Beneflclar]: S Interesl In the Property, including, but nut
<br />!It'llte(! lo, 6flllfl6!1t l.lOffiI)Hl, insolYency, arrangements or proceoolngs If\VOIVlflg il
<br />D!\lIkrupt 0' llecadent then Bene/lcia"y or Trustee bul wlltloul obhiJ,ilion 10 do so.
<br />anl1 wllhoul notice tQ Qr ~eman<J upon T'ustor. and without .eleaslIlg Tfuslur from
<br />any obhgallon heleunder, ma)' make 01 eta the same, and may pay, purl:hase,
<br />COInest 01 compr:>mlii() any eflcumblllflce, !;halif-t! Qr !ien, WhH,.'h If, the ;I.!l::tgemenl 01
<br />!)Ithef apP>lars to alloct said Pfl.1Ptllty. 1ft l:KerCISIf\(;l a"~ .,.1(0 VO,",,+:I$ the
<br />Benefic'al)' or ,'us-lee may lnC<J' any lIabilll)' il,.(j Ilkpa<"lO w~l~te".ef amounts.
<br />'1~t\Jdin\l dl~bu;sur'1t'nh 01 'ed;~o(labl~ aU()rr\e~'s h:'W5. ,'\i!H:.h d1 I/;e,' at'~oluH:,
<br />'<<;.c"lillion_ 'N'iy toe '1/;!,.eSS<H)' j" tI'e eVfjnl \1'1,.,1 T'uslol :.1':,11; IW! to P'OU!ll!
<br />'ht..I'an<';1l ," to pa)" \a~",s, f1',d '" 10 '1l;\1\., <l"~ paVl"i;>n\s.
<br />" .'''''' I."n I'\Qld~fS "p "'C1y i"'" '-""
<br />'"f1''''' ~;.J(.h "'ltym~"ts ",;,,,,,,J,,d L', B,~!",j,c."'"
<br />," ;lC~_"H''''loP'{'.. ;,,'I~l ::-.e ,I "';~ ~,,;c;! C}~e~! <"., ~1O'."'hJ ,)",r,,11~
<br />
|