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<br /> � �$t Januar 97 � =--
<br /> TfiI3 DEED OF TRUST,is made es of day of y ,19 .by j �
<br /> . and among TODD GALLION, a sing e tetson ('TruaLor"),whose mailing uddress is � --_
<br /> • , .,�.,� �_, ,.__.._ .._.. Grand Island NE 688Q3•and OLA REPUBLIC Nf1TI0NAL TITI.E INSURAN�E��CO. ~ r.
<br /> � � ("Truatee'),whose maili ana address is c/o GRAND I SLAND ABSTI�ACT CO , F 0. Box 627, GRAND ISLAND, .;`�,'-_��,.-.
<br /> . NEBRASRA 68802 . -:��:� -:-
<br /> � �,�} �7aI.TER fl. LUERS and PRUE R. LUERS, Hus an an W e �°Bene&aar�t') - - -- -=_�i:.�:
<br /> ' whos�mailengsddress;s 2021 W. John St.. Grand Islaad Ne. 68803
<br /> ;,;-'�
<br /> „, ?�x�` ?'�;
<br />� ' FOR VALYlABLE CONSIDERATI�N,3'rustor irr�verably transfers. conveys and assigns to TtuAtee,IN TftUST,WITH � �
<br /> �. : ' F(3t�lER OF SALE,for ttce�eaefit aad security of Seneficiary,under aad subject to the terms and coaditioas of this Deed of'l�ust, . ;s�"
<br /> " M the real property lacated in the City of Grand Island . Countq of ; �:f:,�4jy - - 'h•`'.f
<br /> • I� . --'`'=``'�_=-_.
<br /> • ' ` Aa1 7 ,State af Nebraska,and legally descnbed as follows(Ehe"Propertyr'): °� li'i::s:�"=�'..�`:-,:��t°-�-
<br /> �� • • �:.:�t �.��G.._�__.
<br /> • �. Lot Five (5), Hlock One Huad�ed Ztaeatq Five (125�, Roen3g and Wiebe s Addition to ; �i +
<br /> the City of Grand Island, Hall County, Nebraska ��'
<br /> � �
<br /> . ' 'FOGETF�R WITH,all:ents,easements.appurte�aacea,hereditaments,inteiests in adjaining roads,atreets and alleqe, � I .
<br /> ,', imgarovemente and buildimgs e�any lund aituated Lhereoa a�c�all pessonal pmperty ther„vay be or hereatt�r become an iategral i �� �� �;, �
<br /> ; �:�
<br /> . � �art of snch hmldings ana im�rterremente.8U CR1�19 781_°_4I2�iE:+OOII.aud all�+ter rig�ts- vr�•,--- ,
<br /> :��1,��>t i 'Yhe Prope:'y aad tke eahre estate and interest coara�#to the Trustee are referr�a to wllectively as the"Trust Estate". � `' }�''T�i�s, "�•�
<br /> • FOB TEiE PURPOSE OF SEC�i.TRTNG: � ����(
<br /> �,,. --- -
<br /> , � �� . a Payment uf'in�ahtness in the Wtal principal amount of$ 52,000.�0 with intereat thexeon,as evideneEd by that ;� �.'-:----•`:--- --
<br />' ' '' � cert.�in prc�is4�aors of e:en date(the"Note"1 with a mataritq date of December 31 2d03 . � I •����� ' . '� '`�
<br /> .�4�•. :� ��.t •� .� �l '.t.
<br /> �I etc�c=:ed by�.a�which i:.�been delivesed and is payable to the o:der of Benefictary,and wluch by Lhie refereaoe as heseby � �k ;;r�t,��_. .�_...._.. . ,�ti
<br /> � � mac_a �a=��aad:.�:�all modifieatione,exteasions and renewals thereo�and I ,� , � : ��'��f
<br /> . � � � � 735��1 {..:e.�... �n. , ,-.
<br />" ' b. Pa�eat of all �_:.s advancd by Beneficiar9 to pratect the 'I�ust Estate, with intere.9t thereon at the rate af r.•,.,. . . -°
<br />�. �' E L e.rcent f S �'.o)per BnIIUm,and �n�G.�uq paymenta of $634.00 with first ' ' �',� }--�
<br /> �'�a p�ffr^a.:ce of't'�w�s coveuaa�s and agreemeata.Fayment `�e Fe� i,199? and the lat of each �e� , ...• � , ;'��'. . _?,
<br /> ' • I 'Y�i; Deed of TrusL, raz 2l'ote, and anq other �^��mEIIL er �eY. � �- t�, -. ..
<br /> given to ev�en.� or fiutDer aecnre tho pep�seat nr� � ;
<br />.. pett'ormance of aay obligatta sec+ued he r e by are re fe m e d t o w 3 l e c t ively as t he"I.o a n�"�r u m e n t s". I � .;i�•'���
<br /> . I I TO PRO'I'ECT TI�3ECUItiTY OF THIS DEED OF'fRiJ31� I ��� ��':: •• .
<br /> I I. PAYMENT OF INDEBTEDNESS.`Prustor ahall pay when due the prinapal o£and the inte•rest on,the indebtedaesa � �..=��`-;�; .._
<br />_ � � evidenced bp the Note,chargea,fees und all other eums as provided in the Loan Inatrumeate. � f . ���� � .
<br /> I� 2. TAI�S AND A3SE33MENT9.Truator ahpll pay all tases and special ossessment9 of every kind,now or hereafter levied I a-�'.';'� s.
<br />'� .. � against the trust estate or any part thereof es follows: ' � :_� -� '�'
<br />� . �I � (initial one) � � . - ' . 1, .
<br /> _$TrusWr ehall directly pay auch taxes, cvithout notice or demand as each ins t a l l ment comes due aa d ahtill � i . �. ..
<br /> � � provide the 6eneficiary witb evidence of 8he paymeat of Lhe same. � : :.;"'t��'�.',�,.
<br /> Truator ahall pay to beneficiary one-tweltth of the real estate tases each month and auch other asaesamente I i _ .�,,_� _
<br /> : • I as they become due.The one-twelfth payment ehall be adjuated siwually as the tsses cbange and trustor agtees that . _,; ' - . _.
<br /> after payment of the tsaes each year that any defciency will 6e promptly paid to BeneSaary.Beneficiary agrees � � T--- �
<br /> � W pmvide trustor with seceipte ehowing that Lhe real eatate taxes have been paid in full and whea due. .�--- _
<br /> 3. INSURANCE AND REPAIftS.Trostor ehaA maintain fire and estended cover�e insurance insuring the imp�ovemente �
<br /> � ". � - _� � '
<br /> and buildinge conatituting patt of We Trust Estute for an amount no less than the a�oant uf the unpaid princiq�al belanve of the �"'` '
<br /> �� Note(co-i�,�,*�*+oe not esceeding 8090 pesmitted).Such insurence policy shall cont�in a standsrd mortgage clau,se in fav�oY I - - --,- -
<br /> Beaeficinry��rs shall not ba cancellable,terminable or madifiable wit���:t ten(LOl 3aya prior written notice W Beneficiary. �::
<br /> � Trastor shall pramptly reg�::.maintsin and replace the Truet Eatate or r.ay part t}:.°aol'eo that,escept for osdinary wear and i � ��.y.�:�r���;;; -
<br /> t�a.;the Trast Estate ehaP a.�deteriorate.Ia ao event ah2ll the'I�ustr.:r+c:.,�:t�.;�.e vn or to the 1�st Estate. ; �':'`-"�-� W
<br /> �a I �,�.•.-�.,...�...,�,�
<br /> ;, i j 4. ACTION3 AFF'ECTi'�A�TRUST ESTATE.Tn�ator shall ay�e:�sn rind co�:.e�t aay action or proceedin8 P�'Po��S� i -- -- _ .
<br /> , � � affect the aecnrity hereof or the rights or poweze of Benefiaary or Tn�Ae.�nd shall pa,.o all wsts and espenses,including cost of � I -�� _
<br /> � � evidence of title and attomeyte fees,in any such aetion or proceeding ia s-`;h Beneficizry or Trustee may appesr.3h,ould Trustor j ,,,,. �. � . „.
<br /> � feil to make any pay�eut os to do any act as and in the rianner pratiiZ�d in any oF`..`�a Lorin Instrumeate,BeneficLary aad/or � _ _ -
<br /> a
<br /> � Trustee,each in its own d�cnetion,�vithout obligation s��a do and without uotice ta ar domand upon Tmator��without j �
<br /> ... � nteasing'IYustor from an;�twigation,mey make or do wae same in auch manner av.d to such eatent ae eittr_a�ay deem ' • �'�
<br /> � � neceasary w protect the sec�rity hereo£TruaWr ahaU,immedintely upoa demand tterefor by Beneficiary,pay�SD coste and i f
<br /> espense3 iac�td by BenefiMary in connectioa with the eaeiciae 61�eneficiary of the foregoing ri�hte,in;l::fing without I �:�'��
<br /> Ilimitution casts of evidence of tit2e,oourt costa,appraieals,surveya ran3 attome}�s fees.Any such crots and esp�sea aoL paid �-��—_
<br /> �vitHin ten(10)days of�vritten demand shall draw interest at the dofaalt rate pravi�ed in the Note. � I �
<br /> � 6. EMINENT DOMAII`.$L•culd the Trust Estcite,ac s.a pnrt theieof or iatemat uerein,be teken or b reason of ��,-------
<br /> st y �'� 9 I s-.•.,..a.._.._,�,
<br /> �� � auy public improvement or mndemnatioa proceedin� ar 9n aay other mrinner including deed in lieu oY G'..3tlemnation I .,fs�
<br /> nn
<br /> i( � (°Condemnatioa"),or ahould Trustor receive any notioe or other information mgarding euch p:oceeding,Truator ahall give pmmpt I j • � ' �"��'.
<br /> � II i written notice thereof'to Benefiriary.BeneRdary shall be Qntitled to ull compensation,awerds and other payment9 or rellef i � �_.
<br /> thesefor,end ehall be entit�ed at its option to commence,appear in and pzosecute in its own name eny action or proceedin�e. � �"'
<br />. � �� , Beneficiary ahall ulso be entitled to meke t�ny compromise or settlement in connection wiLh auch taking or damage.All auch ' ���'-�-��-- `��-
<br /> • i I � compensation,awards,damagea, rights of action and proceeds awfuded to Truator(the "Proceeds'7 are hereby asai�ed to : -,�
<br /> !..�'�'*'�...�....
<br />� ,I Beneficir�ry and Trustor agrees to execute aucb further assignments of the Proceeds as Benefiaary or Tivstee may require. � : tSj��; .,.�--. .
<br /> ,� 6.I'IJ7'[JRE ADVANCES.lJpon request of Trustor,Beneficiary,at Beaeficiary�a option,prior to remnveyance of the Property Y ''�'��� '"" � .
<br /> � , to TruaWr may make futwe advances to Truator.Such future advancee,with interest thereoa,shall he seeured b this Deed of ��.�-+--- ���� '
<br /> Y ..^..:����_
<br /> � ' 'I�ust when evidenced by promissory notea atating that enid notes are secured hereby. 1 '� � � "�`-.-.`�_= _
<br /> '� 7.APPOINTMENT OF 3LiCCESSOR TRUSTEE.Beneficiary may,from time w time,by a written inatrument esecuted and , :; :• -- �,� _. �``'
<br /> '�GJ:�;''.:�
<br /> ' � ,� acknowledged by Beneficiary,mailed to Ttvstor und Recorded in the Caunty in which the'Fruat EsLate is located and by ; �' ' �"
<br /> , : �• othenvise campfying with the pmvisior^of tfie applicable law of the State of Nebraska eubstitute a succesaor or successora to � ��'s'; ;:�:;��;`•" _..
<br /> the Trustee nnmed hemin or acting he� �der. . � ' ' . -"",
<br /> 8.SUCCESSORS AND ASSIGNS.Tivs Deed of 1�ust applies to,inurea w the bene6t of aad binds all parties hexeto,their •
<br />' heire,legtitees,divorcee,personal representatives,suocessore and assigns.The term"Beneficiary" ahall mean the owner and • ' �
<br /> holder of the NoL$,v�hether or not named es Beneficiary herein. . �
<br /> .' 9.INy}'E("I'IVN.Benefiriary or its agent may maite reasonable eatries upon and inspecttons of she Propenq.E�neficiary �y '` "`""
<br /> adall�;ive Trus•„or notice at the time of or prior tu an inspection apecifying rnasonable cause for the inapection. - ' ��
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