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<br />THIS DEED OF TRUST. 10 made as of the 1~ day of J\J} Y_ 19i1L by and among
<br />Cleve 1.'/. .....tutzman and Arlc'ne 1'1. StvtzmaD ------ ("Trustor"), ,......hose mailin~ address is
<br />2020 East Capi tal !\ve. Grand Island, Nebrflska 6ee01. '.
<br />Hall Cuunty Publi (: Record Ke(:per --- ("Trustee"), '.!.:hose mailing addr€'5s is
<br />Hall \,;ounty CourthoUSE!, c..ranu Island, Nebraska 66801. ,
<br />and Cleve W. Stutzmar; anO Arlene M. Stutzman---- ("Beneticiary") whose mailing address is
<br />2020 Bast c,apital Ave., Grand Island, Nebraska 68801.
<br />FOR V ALU ABLE CO NSIDERA TIO N, Trustor irrevocably transfers, con veys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms
<br />and conditions of this Deed of Trust, the real property located in the Cityof ------------------ Countyof
<br />J1!:l11 State of Nebraska. and legally described as follows (the "Properr-yll);
<br />East one-half (E~) of the ~outheast Quarter (SEt) or the Southeast Quarter(SEt)
<br />of Section Three ,3), Township ~leven \11) North, Range Nine (9) West or the
<br />6th P..M., containing 20 acreG more or less, Hal.l County, NebraSka.
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<br />DEED OF TRUST
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<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoiningroacls.
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all
<br />water rights,
<br />The Property and the entire estate and interest conveyed to the Trustee are referred _to collectively as.the
<br />"Trust Estate", --- -. FOR THE PURPOSE OFSECTJRING:
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<br />a. Payment of indebtness in the total principal amountof$ 240780 '~th interest thereon,asevidenceciby
<br />:hat certain promissory note of even date (the "Note") with a maturity date of ~1, ~011 executed
<br />by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is
<br />hereby made a part hereof, and any and all modifications, extenshns and renewals thereof; and
<br />h. Payment of all sums advanced by Beneficia!'} to protect til . rust Estate, with interest thereon nUhe
<br />rate of Ten percent (~'!'o) per annum.
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<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />;lerformance of 'my obligation secu:c-J hereby are referred to collectively as the "Loan Instruments",
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<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUS'r:
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<br />1. PAYMENT OF iNDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on, the
<br />indebtedness evidenced by the Note. charges. fees and all other sums as provided in the Loan Instruments.
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<br />2. TAXES. Trustor shall pay each instaliment of all taxes-and special assessments of every-kind;now_or hereafter,
<br />levied agains~ the Trust Estate or any part thereof. before delinquency, without notice or demand, andshall.pravide
<br />Beneficiary with evidence of the payment of same, Trustorshall pay all taxes and assessments which maybe levied
<br />upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby, without regard to anylaw that
<br />may be enacted imposing payment of the whole or any part thereof upon the Beneficiary. I ,
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<br />3. [NSURANCE AND REPAIRS. Trustor shall maintain fire and not ex~ended coverage insurance insuring the
<br />improvements and b~ildings constituting part of the Trust Estate for an amount no less than the ,a_"mount -of the
<br />unpaid prin<..'ipal balance of the Note (co-insurance notexceeding80% permitted). Such insurance policy shall contain
<br />a stn ndard mortgage clause in favor of Beneficiary and shall not be cancellable, terminable or modifiable-without ten
<br />(10) days prior written notice to Beneficiary, Trustor shall promptly repair, maintain and replace the Trust Es~ate(>r
<br />any part thereof so-that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no everitshall-the
<br />Trustor commit waste on or to the Trust Estate.
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<br />4. ACTIONS AFFECTING TRUST ESTATE, Trustor shall sppear in and contest.any ac~ion or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or-Trustee,_ and shall p'ay all Costs and.
<br />expenses, including cost of evidence of title and attorney's fees, in any such action -or proceedingin.which"Beneficiary
<br />or Trustee may appear. Should Trustor fail to make any payment or to do any act aa and in th_e-_map.ner-,p!:ovided in
<br />any of the Loan Instruments. Beneficiary andlor Trustee, each in,its own discretion, without obligation so'to do and
<br />wHhout notice to or demand upon Trustor and without releasing Trustor from any obligation"may mak_e or. do the
<br />same ~n such manner and to such extent as either may deem necessary to protect,the security hereof., Tru~tor shall.
<br />immediately upon demand tl~erefar by Beneficiary, pay all costs and expenses incurred by Beneficiary in-connection
<br />with the exercise by beneficiary of the foregoing rights, including without limitation coat~ of evidence of title. court
<br />costs, appraisals. surveys und attorney's fees. Any such costs and expenses not paid within ten (l0) days of written
<br />demand snail draw interest at the default rate provided in the Note,
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<br />EMINENT DOMAJN, Should the T:-..st Estate, or any part thereof or interest therein, be taken or damaged by
<br />reason of any public improvement or condemnation proc<:l~-ding, or in any other manner including deed in lieu ofCcndem.
<br />natlon j"Condemnntion ''), or should Trustor n:cive ~IlY r~?,:;~~ ~r.?t~~:inf~r.rr;a~ion _r~garding suc.h proceedi.ng, TnI:;~or shall
<br />b~\'(. ;,:;:;:;~p~ '.'.~itte:-. J.:"~':C ::-,';';l.."v;- ~v ....."n.d:.(;ci.ij "/.'<.1U tA: \;":;LI\.H:U tij <AU (;Ullll-lC::ll.:>iJ.L!Url. <.lWiHUS an..... ;Jtner pay.
<br />rncnt.s nr rclief then~~'<.)f. and shojI be entitled o.t option to commence, appear in and prosecute in its own name any action
<br />nr pmcl!t:dinl{s. Bencticiary shall o:lso be entitled to make uny compromise or settlement in connection ,......lth such taKing or
<br />damage, All such compensation. <}'.vards, damages. rights of action and pmceeds <.l'NarJc,d to Trustor (the "Procci.:ds") are
<br />hereby d6;;i;;ned w Bl,;ocficiar:: ;wd 'Trustor :q:;-rees to execute such further assignrncnL.; 1)( the Prece.cd.." as Beneficiary or
<br />Tru~r.r'\~ mu\" require
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<br />~x~ ~~e,~!~~~::(~~~~~~L~I~:~ [.~);~ E~;~~~l;;~.f.~ n~~~~~;; ~~u~~~~~~~cda k~(:~':i.~{i in the
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<br />ioca.~L'd ::lnd by otherwi$0 carr.plying with rht: provisions 0tthe applicnbil;
<br />or successo.rs to the Trustct: [lamed herein Or' acting- hereunder.
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<br />/. SUCCESSORS A..."'lD ASSIGNS. This Deed of Trust. applies to. L'1UreS tfj the benefit of and binds all parbes hefeto.
<br />their heirs, legatees. devicees. personal representatives. successors and as.."igns. The term" Beneiiciar:,'" shuU mean the
<br />own~r c-:nd holder of the ;"4ote. whether or not named ilS Beneficiary herein.
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<br />J "\Tlt~{;n lf1;,rrumcnt
<br />the Trust E.swtJ;! is
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<br />;~" fNSPECTIONS. Beneficiary, or its ai;~lH3, reprc5~ntatiyes or '....orkrnen, Me uu.thoriz.ed to enter ;;It any rea~:h}f;'1-bie
<br />liml: upon or in 3ny pun of the Trust Estate for the purpose of ifl.:ll:>ect~'1g the :la.me <.lna for the purp0SC of oerfurml.fJh' ;:J.ny of
<br />the acrs it i~ authorized to vedornl under the terms of ...ny of the .LoOD In::;trume::t5
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<br />."!, ~:V'ENTS OF UEFAULT
<br />'!..Ii Truswr shIlll huve failed
<br />;')tht'f ';i;,,:n st.'Curt-.d hereby
<br />"hi The!>: h;:ls r;.(:--c'..:rr;~d ~\
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<br />'f '.t- ,(;-;H.lty
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<br />dflf~!uJt under "ny t..[1n '.'"),,-!~na!i~_ .~~;n:'.-n;cr;~
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