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<br /> '�Y. �, -, ���,i�;.r� r�� DS�D OF '1lWBT
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<br /> ��'"' � TNIS DEED OF TRUST ie made ae of the 18z �Y a� � , 1992 by
<br /> 'd"='�"��`��r'�"`;:-A.; and atnong ELDON BENSON end JANET O. M. BENB�N; husban an w e as join� o
<br /> '���^'�"",����5 tenants, ae to an undivided one-half interest, whqes mailing address ie 2507
<br /> '''���'��'�' •F Arrowhead Road, Grana Island, Nebraeka 688Q1• and Ac?NALD L. eCHIERI,ING and _
<br /> . .,�•��� ,,._ , ::� DORIS A. SCHIERLING, hueband and wife as ioin� tQnants, as to an undivided
<br /> ,..,;+;. x.,,�• ` one-half interest• whose mailing address is 1217 Wa�� Fifth Street, Grand _
<br /> �;;<<,f',y;�,,,�.�"�,��, Ialand, Nebra�ka �8801; ( TRUSTOR )t
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<br /> -- - ��':,�, , and DUANS A. BURNB, ( TRUSTEE ), whose mailing addxess ie: P. 0. Box 2300, _
<br /> ����" ;. �~� Grand Ialand, Nebraeka 68802;
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<br />-�-- and HAROLD G. GADE and ALICE GADE, husband and wife as �oint tenants
<br /> �.� t"BENEFICiARY" , whose mailing address ie: lO1�Wast Four h 9treat, Alda, __
<br /> _. — - • t�ebxaeka 6881�.
<br /> � FOR VALUABLE CON3IDERATION, Trustor irrevocably tranafers conveys, and __
<br /> aseigna to Truetee IN TRU8T WITH POW�R OF SAL�, for the benef�t and securfty __
<br /> � � •° of Beneficiary un�der and eu�i ect to the terms and canditions of this Deed of _
<br />- Trust, the rea� property loca�ed in the G1ty of Gracid Island, County of Hall, �
<br /> , ' ° State of Nebraska, and legally described as follows: (the "Property"):
<br /> - . . ��
<br /> �RY ' Lot Two (2) Gade 3ubdivision to the City of Grand �
<br />-'h � e �y Island, E�al� County, Nebraska, �
<br />=�:�. - ` . TOGETHER WITH all xents, easements appurtenances, hereditemente E
<br />_ ' interests in adjoining roade, etreete and alleys, im�rovements and bui�dings
<br /> � of any kind situated thereon and all personal property that may t�e or
<br /> �� _ hereafter become an integral part of auch buildings and improvements.
<br /> .�� The property and the entire estate and intereat conveyed to the Tructee -
<br /> . are referred to collectively as the "Truet Estate".
<br /> � � FOR THE PURPOSE OF SBCURING:
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<br /> ' " a. Payment of indebtedness in the total principal aawunt of �25,000.00
<br /> � �• with intereat thereon, as evidenced by the certain Promissor Note of even
<br /> �„ ;o date (the "Note") with a maturity date of May 1, 2002, execu�ed by Trustor,
<br /> which hae been delivexed and is payabl e t o t h e a r d e r o f B e n e f i ci ary and which
<br /> ' � by this reference ie hereby made a part herPOf, and any and all mod�fications,
<br /> ; � , exteneions and renewals thereof, and,
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<br /> . b. Payment of all sume advanced by Beneficiar to protect the Trust _
<br />� Estate, with interest thereon at the rate of ten (10� percent per annwn. -
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<br /> This Deed of Trust, the Note, and any other instrument g iven to evidence ;
<br /> " or further secure the payment and performance of any obligation secured hereby ��
<br /> � are referred to collectively as the "Loan Instruments".
<br />� .. • � TO PROTECT THB SECURITY OF THIS UEED OF TRUST: _
<br /> 1. PAYMENT OF INDEBTEDNESS. Trustor shall eay when due the principal =
<br /> �of, and the n eres on, e in e tedness evidenced bp the Note, charges, fees
<br /> � �� end all other sutne as provided in the Loan Inetruments. =
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<br /> 2. TAXES. Trustor shall pay each installment of all taxes and special _
<br /> ' assessments o"�every kind, now or 6ereafter levied against the Trust Eetate or
<br /> � �� any pert hereof before delinquency, without notice or demand, and shall �
<br /> prov3de Benefic�.ary with evidence of the payment of same. Trustor shall pay
<br /> all taxes and assesements which may be levied upon Benef iciary's interest �
<br /> � herein or upon this Deed of Trust or the debt secured hereby, without regard
<br /> to en law that may be enacted imposing payment of the whole or any part _
<br /> � thereof upon the Beneficiary. :�
<br /> � 3. IN3URANCE AND REPAIRS. Trustor shall maintain fire and extended %
<br /> '� coverage insurance insur ng e improvements and buildings constituting part
<br />' of the Trust Estate for an amount no less than the amount of the unpaid
<br /> principal belance of the Note (co-insurance not exceeding BOic permitted). '
<br /> � � 3uch ineurance policy shall contain a standard mortgage clause in favor of
<br /> Beneficizry and shall not be cancellable, terminable, or modifiable without
<br /> ten (10) days prior written notice to Beneficiary. Trustor shall promp tly
<br /> rePair, maintain and replace the Trust Estate or any part thereof so that,
<br /> except for ordinary wear and tear, the Trust Estate shall not deteriorate. In
<br /> no event shall the Trustor commit waste on or to the Trust Estate.
<br /> In addition to casualty insurance, Trustor snaii provid� and pay i.i�a
<br /> � premiums on comprehensive liability insurance covering the premises and
<br /> rotecting the 8eneficiary and Trustor from all claims, demands, lawsuits, and
<br /> . judqments arieing out of injury to persons or damege to property occurring on
<br /> Ehe property. Ti�e coverage shall be in an amount of not less than �300,000
<br /> single limit for hodily injury �tnd property damage. The liability insurance
<br /> and casualty insuranco may be procured in a single policy ar may be otained in
<br /> - separete policies. Tn any evenl, 5uch �iulicy or policies �hal� name
<br /> Benoficiary and Trustor as insureds as �heir interests may appear, and
<br /> Beneficiary shall be provided with a Certificate of Insurance or duplicate
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