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<br /> DEED OF TRlJST WlTH FUTIiRE�►DVANCES
<br /> _� 1° ` M�rch ,19 �7 ,by and amon � � -- - - - _ ,r-
<br /> - THIS DEED O�YF�tUS i,is made as oi i,tie 2��= tlay af - —
<br /> G , .�,��;,_, .
<br /> � me Trustor, Micheal A Kno ik & Cin Kn ik husband and wife r� � -
<br /> � , '' _'
<br /> - - �rhose mailing�ddr�s is_�K�4 .Ta}•�..tX�t �n�3 Tal anA NF. FiH80� (herein"Trusto�',whether one or more). � --__--- -__
<br /> the Tn,stee Five Points Bank. a Nebraska Co ration � � ��"�"!`�;-
<br /> whose maii+ng address is P-�• �x 3.507 Grand Islancl NE 68802 (herein'Trustea�,and • • ; •� F�,.;��
<br /> . . -�:—
<br /> the Beneficiary. .- �y�� �
<br /> � ��� 2015 N. Broadwell Grand Island NE 68802-1507 (herein'Lende�. _ . .�•,s_ .-,`'.�'�_
<br /> " whose mailing address is a `
<br /> .. ��:
<br /> FOR VALUABLE CONSIDERATION,i�ciuding LendePs extension of aedit identtfied herein to Micheal A Ktiopik �• ��, : ,,f�
<br /> � ci nd�s Knonik — , z;� . .�,° ,`
<br /> ,�_,._•.... :
<br /> - (herein Borrower.whetl�er ane or more)and th�trust herein created,the receipt , �.;.
<br /> t
<br /> f which is hereb adcnowledged,Trustor hereby irrevocabty grants,transfers.c�nveys and assigns 4fl Trustee, IN TRUST,WITH ; _ �:;
<br /> O .;�..; __
<br /> Y .
<br /> POWER OF SALE,for the banefit and securiry of Lender,under and subject to the tertns and conditions hereinafter set forth,the real �
<br /> • property desct(bed as foliows: � 3�
<br /> � '' Lot Three (3), Block Five (5), Jenkinson Subdivision to the City of Grand _ ��� ""`
<br /> � Island. Hall County, Nebraska • :•'
<br /> ,
<br /> nts fixtures streets,alleys,passageways,easements,rights,privileges and appurtenances �..; �' . �
<br /> Together with all buildings,improveme �i _
<br /> tocated thereon or in anywisa pertaining thereto,and fhe rents,issues and profits,reversions and remainders thereof,and such per- _ . � _
<br /> � sonai properry that is attached to the improvements so as to constitute a fixture,including,but not limited to,heatlng and cooling equip- } ; =
<br /> men�and together with the homestead or marital interests,H any,which interests are hereby reteased and waived;aIi of which,includ- • � --��,�"i�; ; __
<br /> ing replacements and addiUons thereto,is here by de c tare�t o b e a p a rt o f t h e r e a i e s t a t e s e c u r e d b y t h e H e n o f t his Deed ot Tnist and ��;�'�-
<br /> • ail of the foregoing being refecred to herein as the'Pmpert}r• ��: �Ry?.:,:=
<br /> This Oeed oi Trust shati secure(a)the payment of the prinGpal sum and interest evidenced by a promissory note or credit agree- ��`,.
<br /> , ment dated March 24. 1997 ,having a maturity date ot Anril 15. 2002 ��"•'. .
<br /> ` �,� . -- `�„���
<br /> • in the original pdncipai amount of$ 12,000.00 .and any and all madifications, extensions and renewals ::. ---.,�:-�
<br /> thereoi or thereto and any and a{I future advances and readvances to Borrower(or any ot them ii more than one)hereunder pursuan! �.�, •i, �� T �
<br /> to one ar mora promissory notes or credit agreements(herein plled'Note�;(b)the payment ot other sums advanced by Lender to = '�<
<br /> herein•and ali resent and s .�-"- �
<br /> � protect the secudty of the Nota;(c)the perfortnance of att covenants and agreements ot T►ustnr set forth (� P _ ,
<br /> future indebtedness and obNgaUons of Borrower(or any oi them if more than one)to l.ender whether dlrect,indirect,absolute or conUn- � r��'°'
<br /> � ..««;�:� »
<br /> � gent and whether arising by note,guaranry,overdreft or othervvise.The Note,this Deed oi Trost and any and all other documents that _ �,.•���•:,�
<br /> secure the fVote or otherwise executed in connection therawith, inGuding without limitation guarantees, security agreements and a-.
<br /> assignmenb ot leases and rents,shali be reterred to herein as the'Loan InsWments'. -�`;�� -�
<br /> � Trustor covenants and agrees w i t h L en der as fo l low s: .. . '.��� '
<br /> 1. Payment oi Indebtednoss.Ali Indebfedness secured heroby shaQ be paid when due. :�`�•
<br /> 2. Ti�tte.Trustor is the owner of the Property,?�as the dght and auU►ority to convey the Proparly,and wartants that the lien creat- . �
<br /> � ed hereby is a first and prlor Ilen on the Property,except for 8ens and encumbrances set(orth by TrusWr in writing and de0vered to . • __
<br /> ' � Lender before executlon of this Desd of Trust,and the execuUon and detivery�i this Deed of Trust does not violate any contract or
<br /> other obligaUon to which Trustor is subject. _ • .
<br /> 3.Taues.Assessmsnte.To pay before deqnquency ail taxes,special assessments and all other charges against the Property .
<br /> � now or hereafter levled. �.
<br /> 4.Insurarsee.To keep the Property insured against damage by fire, hazar6s included within the term'extended coverage',and •
<br /> such other hazards as Lender may reQuire, in amounts and wilh companies acceptabte to Lender,naming Lender as an additionat �
<br /> named insured,w3th loss payable to the Lendor.In case of loss under such poticles,the Lender is authorized to adJust,coltect and . �.
<br /> compromise,all ctalms thereunder and shall have the opUon oi appiying all or part oi the insurance proceeds(i)to any indebtedness . . •
<br /> secured hereby a�d in such order as Lender may detertnine,(ii)to the Trustor ta be used for the repair or restoraUon ot the Property or . __
<br /> •� (iiiy tor any other purpose or object saUsfactory to Lender without aNecting the lien oi this Deed oi Trust for the futl amount secured . . �
<br /> . hereby before such payment ever took ptace.My applica8ons ot proceeds to indebtodness shail not extend or postpone the due date . • _
<br /> • oi any payments under the Note,or cure any default thereunder or hereunder. � �
<br /> 5. Eaerow. Upon written demand by Lender, Trustor shall pay to Lendar, in such manner as Lender may designate,sufficlent
<br /> sums to enabte Lendet to pay as they became due ono or more of the follovring: (i)all taxes,assessments and other charges against . �-
<br /> the PropeRy. (ii)the premiums on the property insurance required hereunder,and (iii)Ihe premiums on any mortgage insurance ._ '�
<br /> .. required by Lender. ' � ,
<br /> 6. Malntenaneo, Repairs and Compflanee with Laws.Trustor shali keep the Property in good condition and repair;shali
<br /> promptly repair,or replace any improvement which may be damaged or destroyed;shalt rtot commit or pertnit any waste or deterior� � , .
<br /> tion of the Property:shall not remove,demolish or substantiaily alter any of the improvements on the Property;shail not commit,suHer �
<br /> � or pertnit any act to he done in or upon the Property in viotation of any law,ordinance, or regutation: and shall pay and promptly dis-
<br /> charge at Trustors cost and expense atl iiens,encumbrances and charges levied,imposed or accessed against the Property or any
<br /> � part thereof. � .
<br /> 7. Eminent Domain. Lender is hereby assigned all compensaGon, awards,damages and other payments or relief(hereinafter
<br /> � � _.
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