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<br /> � � DEED OF TRUST WITH FUTURE ADVANCES =__
<br /> � c}� :. ,::�--
<br /> � THIS DEED OF TRUST,is made as oi tha 26TH day oi JANUARY ,19 98 ,by and among� �-�'=?-
<br /> \ '"'"r.-
<br /> 0
<br /> �, theTrustor, RICHARD J. BROWN AND JANICE K. BROWN, HUSBAND AND WIFE , ''�u-,
<br /> .f�
<br /> whose malling address is ���5 SHERWOOD RD GRAND ISLAND NE 68803 (hereln"Trusto�',whether one or more), __
<br /> theTrustee F:`!E POINjS BANK A NEBRASKA CORPORATION �
<br /> �
<br /> whose malling address is P 0 BOX 1507 GRAND ISLANO NE 68802 (here�n•Trustee'),and
<br /> � theBeneflciary, FIVE POINTS BANK _
<br /> � whose malling address is_,2(115� BROA�WFI I AV _ CRAND IS�,�;D NF fi 8,A 03 (hereln'Lender). __
<br /> � FOR VALUABLE CONSIDERATION,Includln9 Le�der's extenslon of credit Idontifled hereln to__
<br /> " RICHARD J. BROWN AND JANICE K. BROWN
<br /> ;�. (hereln"Borrower,'whether one or more)and the trust herein croated,the recelpt
<br /> ot whlch Is hereby ecknowledged,Trustor hereby Irrevocebly grants, transters,conveys and assigns to Truatee, IN TRUST,WITH
<br /> � POWER OF SALE,for the benefit and security oi Lender,under end sub�ect to the terms ana wnaicions nereine$er sec iorth,the reai °
<br /> �� ;;, property described es follows:
<br /> �. LOT TEN (10I. BISHOP HEIGHTS THIRD Sl76DIVISION, CITY OF
<br /> � GRAND ISLAND, HALL COUNTY, NEBRASKA
<br /> � Together with all buildings,improvements,Bxtures,streets,alleys,passageways,easementa,r(ghts,privilegos and appurtenances �
<br /> located thereon or in enywise pertalning thereto,and the rents,Issues and profits, reverslons and remainders thereoi,and such per-
<br /> t�. sonal properly that is attached to the improvements so es to constitute a flxture,Including,but not Ilmited to,heating and cooling equip-
<br /> "" ment;and together with the homestead or marital Interests,ii any,which int9rests are hereby released and walved;eU of which,includ• —
<br />_ � ing replacements and addltions thereto,Is hereby declared to be a part of the real estete secured by the Ilen of thls Deed of Trust and _
<br /> � ali of the toregoing being referred to herein as the'Property".
<br /> �; This Deed of Trust shali secure(a)the payment of tho principal sum and(nterest evidenced by a promissory note or credit agree-
<br /> ment dated .IANIIARY 9FL, 19q8 ,having a maturity date oi FEBRUARY 15. 2002 ,
<br /> 2� � in the original principal amount of$ 99�99fi 72 , end any and ail modifict�tions, extenalons and renewals
<br />- thereof or thereto end any and all future advances and readvancea to Borrower(or any of them If more than one)hareunder pursuant
<br /> � to one or more promisscry notes or credit agrdemc�nts(herefn called"Note"); (b)the payment of other sums advanced by Lender to
<br /> r protect the security of the Note;(c)the performance of all covenants end agreements oi Trustor set forth hereln;and(d)ail presant and �
<br /> future(ndebtedness and oNligations of Borrower(or any of them ff more than one)to Lender whether direct,indirect,absoiute or cantin- ° - -
<br /> :: , gent and whether arlsiny by note,guaranty,overdraR or othenroise.The Note,th(s Deed of 7rust and any and al�other documents that
<br /> �� secure the Note or otherwise executed in connection therewith, including without Iimitatfon guarantees, socu�ity agreements and --
<br /> ^ assignments of leases and rents,shell be reierred to herein as the"I.oan Instruments". �^.,a=_�:-`
<br />— Trustor covenants and agrees with Lender as follows: �`�
<br /> ' 1. Payment o�Indebtedness.All indebtedness secured hereby shall be paid when due. �T��W��'°`==
<br /> 2. Title.Trustor Is the owner of the Property,has the right and euthority to convey the Property,and warcants that the Ilen creat- �'�'�
<br /> �'�!4�ni,.-
<br /> ed hereby is a flrst and prior Iien on the PropRrty.except for Iiens and encumbrances sat torth by Trustor in writlng and delivered to ' r;:Tr«
<br /> Lender beforo execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or ' :i�=i==
<br /> .,:�:2:A:�• _
<br /> � other obligatbn to which Trustor is subject. �t'r�7-�y;,;,':>,.:
<br /> " 3. Taxes,Assessments.To pay before delinquency ail taxes,special assessments and all other charges ageinst tho Property •�.:,.
<br /> now or hereafter levfed. .}'`
<br /> 4. Insurance.To keep the Properly insured against damage by Tire, hazards included wfthin thQ term"extended coverage",and
<br /> such other hazards as Lender may requlre, in amounts and with companles acceptable to Lender, naming Lender as an additional
<br /> named insurad, with loss payable to the Lender. In case of loss under such policies,the Lender Is authorized to adJust,collect and
<br /> compromise,all claims thereunder and shall have the optlon of applyfng all or part oi the insurance proceeds(i)to any indebtedness
<br /> secured hereby and in such order as Lender may determine,(ii)to the Trustor to be used for the repeir or restoratlon of the Property or �'
<br /> (iii)for any other purpose or object satistactory to Lender without affecting the Ilen of this Dead of Trust for the full amount secured �
<br /> � herebv before such payment ever took place.Any applicatlons of proceeds to indebtedness shali not extend or postpone the due date
<br /> of any payments ur.der the Note,or cure any default thereunder or hereunder. �" `--�--�
<br /> 5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender,in such manner as Lender may designate, sufflcient
<br /> : . sums to enable Lender to pay as they become due one or more of the following:(i)all taxes.assessments and other charges agafnst
<br /> the Property. (li) the premiums on the property insurance required hereunder.and (iii) the promfums on any mortgage insurance
<br /> required by Lender.
<br /> 6. Malntenance, Repairs and Compllanco witn Laws. Trustor shall keep the Property in good condition and repair; shail
<br /> promptly ropair,or replace any improvement which may be damaged or desttnyed; shall not commit or permit any waste or deteriora-
<br /> —. : tion of the Prop9rty;shall not remove,demolish or substantially alter any oi the improvements on the Property;shall not commit,suffer
<br /> � or permit any act to be done in or upon the Property in violatfon of any law,ordinance, or regulation: and shall pay and promptly dis-
<br /> — ; charge al Trustor's cost and expense all Ifens, encumbrances anc, charges levied, imposed or accessed against lne Property or any
<br /> � part lhereof.
<br /> _ , 7. Eminont Domaln. Lender fs horeby assigned all compensation, awards, damages and other payrtients or rolief(heroinafter I
<br />._} �11r4�rlN�nu^u1w���Vn.l�i�..•• • I
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