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<br /> i J�FF.D OF TRUST —
<br /> �
<br /> j THIS DEED OF TRUST is made on this 3rd day of Febn�ary, 1998. The Trustor p�
<br /> Wife and Husband whose c�.. —
<br /> � (whether one or more)is Bonnie S.Bellamy and John P.Bellamy, �
<br /> address for purposes of norices in respect to this Deed of Trust is 3112 W. 18th Street,Grand
<br /> .,�� Island,NE 68803 and is somedmes herein ideadfied as Bonower. T'he Trustee is Arend R.
<br /> ) Baack, Attomey at Law and member of the Nebraska State Bar Association,whose sddress is __
<br /> ' P.O.Box 790,(3rand Island,NE 68802-0790. The Beneficiary is Michael Sperry,whose
<br /> � address for purposes of notification under this Deed of Trust is 2203 W�:st Koemg,Grand Island,
<br /> ��i.. NE 68803 and is sometimes herein identified as Lender.
<br /> BORROWER IRREVOCABLY CONVEYS'TO TRUSTEE,IN TRUST,WITH
<br /> .� POWER OF SALE,THE FOLLOWING:
<br /> �,� Lat Five (5),Westgate Fifth Subdivision, in the City of Grand Island,Hall
<br /> . County,Nebraska;
<br />_ . �- together with alI building�,i��i�i�vements,fixtures,�treet°,�lle�s,gassag?wayc;easements. ,
<br /> ; rights,privileges and appurtenances located thereon or in anywise pertaining thereto,and the
<br /> � rents,issues and profits,reversions and remainders thereof,and such personal property that is
<br /> # att�ched to the improvements so as to constitute a fixture.including,but not limrted to,heaUn�
<br /> � and cooling equipment and together with the homestead or marital interests,if any,which
<br /> � interests are hereby released and waived, all of which,including replacements and additions
<br /> �, thereto,is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust
<br /> .a and all of the foregoing being refened to herein as the"Property".
<br /> � Bonower owes Lender the total sum of Forty Thousand and No/100 Dollars($40,000.00)
<br /> �• evidenced by Bonower's Note of even date herewith(hereinafter refened to as"Debt")w+hich has
<br /> �` a stated matunty date of July 1, 1998. This Debt shall include any and all modificarions,
<br /> � extensions and renewals thereof or thereto and any and all future advaaces and readvances to
<br /> •� Borrower(or any of them if more than one)hereunder pursuant to one or more promissory notes
<br /> � or credit agreements(herein called"Note").
<br /> � 'This Deed of Trust secures to Lender the Debt evidenced by said Note,the payment of all
<br /> � other sums, with interest,advanced under die provisions hereafter to protect tlie secunty and the
<br /> a performance of Bonower's cove�nants and agreernents.
<br /> Borrower covenants that Bonowe.r is lawfully seised of such real estate and has the legal
<br /> power and lawful authority to convey the sarne and wanants and will defend tide to the real
<br /> estate against the lawful claims of all persons.
<br /> HORROWER AND LENDER AGREE AS FOLLOWS: _.
<br /> 1. Bonower shall pay when due,the principal and interest as provided in said Note, .
<br /> 2. All payments received by Lender shall be first applied to advances which may have
<br /> I been made by Lender and then to interest due and last to principal due.
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<br /> 3. Borrower shall pay all general real estate taxes and special assessments against the
<br /> Property before the same become delinc{uent.
<br /> _ .._,��____.L_: ..�o....oaiA ArnttnrtV 111MITPl�AOfl1i1St IOSS bY tII�C' �
<br /> 4. I301TOWC[�ttiut ncc�r uic�u�j,av:�au�,..........».....�r---{ ----°-- ..,
<br /> � and hazards inc:luded with the term"extended coverage" for their msurable value and policies for
<br /> the same shall include a standard mortgage clause showing I.enden c�rein. In event of loss,
<br /> Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be
<br /> applied to restoration or rcpair of the Property damaged,unless both parties otherwise agrec,
<br /> � exccpt if restoration or repair is not cconomical ly feasible or Lender's security is not lessened.
<br /> otherwise said proceeds shall be paid on the debt herein,�vhether or not then due.
<br /> �
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