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10.5
<br />Jac�b North PrintingCo., Walton, NE.68461
<br />OF TR�JST
<br />20�.�06952
<br />THYS DEED OF TRUST, is made as of 12th day of September �� 2011 � b
<br />and among �71N' C PLATE � Gi ngl e erson ("Trustor"), whoae mailing address is
<br />�t.,.. .>__ _ _.. _� T ..L� /•.-.,...7 Tcl �r�� _ TTF _ CiRRn�' C�rv n _ RVrnP _ Att�rnev—at
<br />("Trustee"), whose mailing address is c
<br />.�
<br />whose mailing address is 2209 E. Sto
<br />FOR VALUABLE CONSIDERATION, Truator irrevocably transfers, conveys and asaigns to 1�ustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of Benefici�ry, under and subject to the terms and wnditions of this Deed of Trust,
<br />the real property located in the City of Grand Isl.and - , County of _
<br />H 11 , State of Nebraska, and legally described as follows (the "Property"):
<br />Lot Four (4), Block One Hundred Three (103), Koenig and Wiebe's Addition
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets and alleys,
<br />improvements and buildings of any kind situated thereon and all personal property that may be or hereafter become an integral
<br />part of such buildings and improvements, all crops raised thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust Estate".
<br />FOR. THE PURPOSE OF SECUftING:
<br />a. Payment of xndebtness in the total principal a�ount of $ 100, 000 . 00 , w interest therean, as evidenced by that
<br />certain promissory note of even date (the"Note") with a maturity date of Sept . 12 , 2026 ,
<br />executed by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby
<br />made a part hereo� and any and all madifications, axt8nsions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of
<br />Five percent ( 5 %) per annum, and
<br />c. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />perforntance of any obligation secured hereby are referred to collectively as the"Loan Instruments".
<br />TO PftOTECT Tf� SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due tlie principal of, and the interest on, the indebtedness
<br />evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES AND AS5ESSMENTS. Trustor shall pay all taxes and special assessments of every kind, aow or hereafter levied
<br />against the trust estate or any part thereof as follows:
<br />(initial one)
<br />x Trustor shall directly pay such taxes, without notice or demand as each installment comes due and ahall
<br />provide the beneficiary with evidence of the payment of the same.
<br />Trustor shall pay to beneficiary one-twelf�h of the real estate tages each month and such other assessments
<br />as they become due. The one-twelfth payment shall be adjusted annually as the taxes change and truator agrees that
<br />after payment of the taxes each year that any deficiency will be promptly paid to Benef�ciary: Beneficiary agrees
<br />to provide trustor with receipts showing that the real estate taxes have been paid in full and when due.
<br />3. INSUR.ANCE AND ftEPAIR,S. Trustor shall maintain fire and extended coverage insnrance inauring the improvements
<br />and buildings constituting park of the Trust Estate for an amount no leas than the amount of the unpaid principal balance of the
<br />Note (co-insurance not exceeding 80°!o germitted). Such insurance policy shall contain a standard mortgage clause in favor of
<br />Beneficiary and shall not be cancellable, terminable or modifiable without ten (10) days prior written notice to Beneficiary.
<br />Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear and
<br />tear, the Trust Estate ahall not deteriorate. In no event shall the Trustor commit waste on or to the 1�ust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor ahall appear in and conteat any action or proceeding purporting to
<br />affect the security hereof or the rights or powers of Beneficiary or �ustee, and shall pay all costs and expenees, including east of
<br />evidence of title and attomey's fees, in any such action or proceeding in which Beneficiary or Trustee may appear. Should Trustor
<br />fail to make any payment ar to do any act as and in the manner provided in any of the Loan Instruments, Beneficiary and/or
<br />Trustee, each in its own diecretion, without obligation so to do and w.ithout notice to or demand upon �ustor and without
<br />releasing Trustor from any obligation, may make or do the same in such manner and to auch extent as either may deem
<br />necessary to protect the aecurity hereo£ Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and
<br />expenses incurred by Beneficiary in connection with the esercise by Beneficiary of the foregoing rights, including without
<br />limitation costs of evidence of title, court costs, appraisals, surveys and attorney's fees. Any auch costs and expenses not paid
<br />within ten (10) days of written demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the �ust Estate, or any part thereuf or interest therein, be taken or damaged by reason of
<br />any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condemnation
<br />("Condemnation"), or ahould Trustor receive any notice or other information regarding sucb. proceeding, Trustor shall give prompt
<br />written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other payments or relief
<br />therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings.
<br />Heneficiary shall also be entitled to make any compromise or settlement in connection with anch taking or damage. All auch
<br />compensation, awards, damages, rights of action and proceeds awarded to Truator (the "Proceeds") are hereby asaigned to
<br />Beneficiary and Trustor agrees to execute such further assignments of the Proceeds as Beneficiary or Trustee may require.
<br />6. FLJTiJRE ADVANCES. Upon request of Trustor, Beneficiary, at Beneficiary's option, prior to reconveyance of the Property
<br />to Trustor may make future advances to Trustor. Such future advances, with interest thereon, ahall be secured by this Deed of
<br />Trust when evidenced by promissory notes stating that said notes are secured hereby.
<br />7. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument executQd and
<br />acknowledged by Beneficiary, mailed to Trustar and Recorded in the County in which the 74�uat Estate is located and by
<br />otherwise complying with the provisior^ of the applicable law of the State of Nebraska substitute a successor or auccessors to
<br />the Trustee nanaed herein or acting hei lder.
<br />8. SUCCESSOftS AND ASSIGNS. This Deed of Txvst applies to, inures to the benefit of and binds all parties hereto, their
<br />heirs, legatees, divorcee, personal representatives, successors and asaigns. The term "Beneficiary" shall mean the owner and
<br />holder of the Note, whether or not named as Beneficiary herein.
<br />9. INSPECTION. Beneficiary or �ts agent may make reasonable entries upon and inspections of the Properiy. Beneficiary
<br />shall give Trustor notice at the time of or prior to an inspection apeafying reasonable cause far the inspection.
<br />::_ =-�_----_ ----_.-�_�--------.�__—..��____�__ ___.._._
<br />Rev. 8195
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