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<br />84.---
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<br />004689
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<br />CONrs: d
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<br />DEED OF TRUST
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<br />This Deed of Trust is made this 29 day of August . 19 84, by and among J"ean W.
<br />Rockwell and Mildred L. RoclWi8IT, Husband & Wlfe ,hereinafter referred to as "Trustor,"
<br />whose mailing address is 1504 Grand Ave, Grand Island NE; Arend Thl~"8 '
<br />Attorney at Law~ hereinafter referred to as "Trustee," whose mailing address is ..!1Ox /~U.
<br />Grand Island. NE 68802 ; and THE OVERLAND NATIONAL BANK OF GRAND ISLAND. hereinafter referred to as
<br />"Beneficiary," whose mailing address is P. O. Box 1688, Grand Island. Nebraska 68802.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to Trustee. in
<br />trust, with power of sale, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this D~ed of Trust, the following-described property. located in Hall County,
<br />Nebraska, to-""it:
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<br />Lots 1hree (3) and Four (4) and theWestern Thirtv-three feet (W33')
<br />of Lot 'The> (2), all in Block Eighteen (18) in Rollins' Addition
<br />to the Clty of Grand Island, Hall OJunty, Nebraska,
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<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, pri"rf-
<br />leges and appurtenances located thereon or in any 'Way pertaining thereto, and the rents, issues, profits,
<br />reversions and the remainders thereof, including all such personal property that is attached to the improve-
<br />ments so as to constitute a fixture, all of which, including replacements and additions thereto, are hereby
<br />declared to be a part of the real estate conveyed in trust hereby, it being agreed that all of the fore-
<br />going shall be hereinafter referred to as the "Property. II
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<br />FOR THE PURPOSE OF SECURING:
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<br />(a) the payment of indebtedness evidenced by Tt'ustor's not" of even date herewith in
<br />the principal sum of Fifty-eight thousand five hundr<(d, ,,,'is, 500. 00 ), ~ogether
<br />with interest at the rate or rates p!"ovided t;,:erein, or .. pr:;';; ipal and ~nterest on any
<br />future advance not to exceed the total orincivsl sum Llii" ._.~lv secured hereby as evidenced
<br />by promissory notes stating they are se~ured hereby, and any ~nd all t'enewal~, modifications
<br />and extensions of such notes, both principal and interest on the notes being payable in
<br />accordance with the terms set forth therein, which by this reference is hereby made a part:
<br />hereof;
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<br />(b) the performance of each agreement and covenant of Trustor herein contained; and
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<br />(c) the payment of any sum or sums of money which may be hereafter paid or advanced
<br />by Beneficiary under the terms of this Deed of Trust, together with interest thereon at the
<br />rate provided in the note.
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<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows:
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<br />1. Payment of Indebtedness. To pay when due, the principal of, and the interest on, the indebted-
<br />ness evidenced by the note. charges. fees and all other sums as provided in the loan instruments.
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<br />_. ~. Trustor is the owner of the property and has the right and authority to execute this
<br />Deed of Trust in respect to the property.
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<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all other charges
<br />against the property.. before the same become delinquent.. and, in the event Beneficiary shall so require.
<br />to add to the payments required tUlder the note secured hereby, such amount as may be sufficient to' en~
<br />able Beneficiary to pay such taxes, assessments or other charges as they become due.
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<br />4. Insurance. 1'0 keep the improvements now or hereafter located on the real estate described
<br />herein insured against damage by fire and such other hazards as Beneficiary may require. in amounts and
<br />companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss lDlder such
<br />policies, Beneficiary is authorhed to adjust, collect and compromise.. in its discretion. all claims
<br />thereunder and, at its sole option, is authorized to either apply the proceeds to the restoration of the
<br />property or upon the indebte.dness secured hereby. but payments required by the note shall continue until
<br />the sums secured hereby are paid in full.
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<br />S. Repair, Maintenance and Use. To promptl}' repair, restore or rebuild any buildings or ap1:ove-
<br />ments now or hereafter on the property; to keep the property in good condition and repair, without wa.~te
<br />and free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer
<br />or permit any nuisance to exist nor to diminish or impair the value of the property by any act or omission
<br />to act; and to comply with all requirements of law with respect to the property.
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<br />6. Condemnation. In the event the property. or any part thereof, shall be taken by eminent domain.
<br />Beneficiary is entitled to collect and receive all compensation which may be paid for any property takeq
<br />or for damages to property not taken, and Beneficiary shall apply such compensation, at its option.
<br />either to a reduction of the indebtedness secured hereby or to repair and restore the- property so taken.
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<br />7. Performance by Beneficiarv. Beneficiary may, but shall have no obligation to. do any act which
<br />Trustor has agreed but failed to do, and Beneficiary may also do any act it deems necessary to protect
<br />the lien hereof. Trustor agrees to repay. upon demand, any sums so expended by Beneficiary for the
<br />above purposes, and any Sum so expended by Beneficiary shall be added to the 1ndeb.~edness secured here~
<br />by and become secured by the lien hereof. Beneficiary shall not incur any personal liability because of
<br />anything it may do or omit to do hereunder.
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<br />8. AssiR\lIDents of Rents. Beneficiary shall have the right, power and authority during the con-
<br />tinuance of this Deed of Trust to collect the rents, issues and profits of the property and of any per-
<br />sonal property located thereon with or without taking possession of the property affected hereby, and
<br />Trustor hereby absolutely and urt_t.Kl,ditionally assigns all such rents, issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Trustor's collection and retention of such rents, issues and Q
<br />profits as they accrue and become payable. so long as Trustor is not, at such time, in default with re- ,
<br />spect to payment of any indebtedness secured hereby.. or in the performance of any agreement hereunder. ,~~
<br />If any event of default described hereafter in respect to this Deed of Trust s.hall have occurred and be .1~
<br />continuing, Beneficiary, as a mat tel." of right and without notice to Trustor or anyone claiming nnder \'\. \Y
<br />Truslor. and without regard to the value of the trust estate or the interest of the Trustor therein, '-.~U'
<br />shall have the right to apply to any COUl:t having jurisdiction to .appoint a receiver of the property. I~
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<br />9. Inspections. Beneficiary, or its agents, representatives or workmen. are authorized to enter '-.\
<br />at any reasonable time upon or in any part of the propert:-' for the purpose of inspecting the same and
<br />for the purpose of performing any of the acts it 18 authorized to perform under the terms of any loan
<br />instruments executed by Trustor.
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<br />10. Transfer of Property. [f all or I'ul)' part (If the property or auy 1nterest of Trustor therein
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