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<br />DEED OF TRUST
<br />THIS DEED OF TRUST, is made as of the 28th day of February _ 1y 86 by and among
<br />H and( "Trustor "), whose mailing address is
<br />J
<br />Corby J. Flagle and Susan Flagle b ?nd
<br />P.O. Box 2072, Grand Island, NE 68801 t `Trustee "l, whose mailing address is
<br />CENTRAL BANK
<br />P.O. Box 177, Central City, NE 68826 ( "Beneficiary ") whose mailing address is
<br />and CENTRAL BANK
<br />P.O. Box 177, Central City, NE 68826
<br />irrevocably transfers, conveys and assigns to Trustee, IN
<br />FOR VALUABLE CONSIDERATION, Trustor ocably
<br />WITH POWER OF SALE, for the benefit and security of Beneficiary . under and subject to the terms
<br />TRUST,
<br />conditions of this Deed of Trust, the real property located in the CSty of _Grand Island County of
<br />"Property "):
<br />and
<br />Hall State of Nebraska, and legally described as follows (the
<br />Lot 15 Meadua'lane Subdivision, Hall County, Nebraska
<br />TOGETHER WTTH, all rents. easements, appurtenances, hereditaunents, interests in adjoining roads,
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may
<br />buildings and improvements, all crops raised thereon, and all
<br />be or hereafter become an integral part of such
<br />water rights.
<br />to the Trustee are referred to collectively as the
<br />The Property and the entire estate and interest conveyed
<br />"Trust Estate ".
<br />}+,OR 'fHE PL'RF'OSE OF SECURING:
<br />a. Payment of indebtness in the total principal amount of 25 000.00 with interest
<br />date: (the "Note ") with a maturity date of
<br />therein, as evidenced by that certain promissory note of even
<br />been delivered and is payable to the order of
<br />February 28. 1996 executed by Trustor, which has
<br />hereof. any raid all modifications, exten-
<br />Benefician , and which by tilts reference is hereby made a part and
<br />sions and renewals thereof, and
<br />the Trust Estate, with interest thereon at the rate
<br />b. Payment of all sums advanced by Beneficiary to protect
<br />of•Twelve & One Hal�ercent (12.5_ `'it) per annum.
<br />This Deed of Trust, the Note, and a ny other i nstrument given to e�idence or further secure the payment and
<br />uerfortnanrt of any obligation seYUrcKI hereby are referred to collectively as the "Loan Instruments'.
<br />TO F'Rt)TI:C'T "['HP: tiF.C'URITY OF THIS DEED OF T'Rt'ST:
<br />1. PAYMENT OF INlll•:F VEDNESS. Trustor shall pay when due the principal of, and the interest on, the
<br />in the Loan Instruments.
<br />k
<br />indebtedness evidenced by the Note• charges, fees and all other sums as provided
<br />2. TAXES. Trustorshallp :,yeachinst;illmentof}tilt}txes inds pecialasscssmentsofevtry `kind.nowoallpro provide
<br />notice or demand, and shalt provide
<br />levied against the Trust Estate or any part thereof, before delinquency, without
<br />taxes and assessments which maybe levied
<br />Beneficiary with evidence ofthe payment of ware Trustor shall pay all
<br />herein or upon t his 1)eed of Trust or the debt secured hereby, without reeattl to any law that
<br />upon Beneficiary'sinterest
<br />may be enacted imposing peiyment of the whole or any part thereof upon the Beneficiary.
<br />3. INSC'RANCF AND REPAIRS. 'rrusiorshall maintain fire andextended coverage ins u rance in suring the
<br />for no less than the amount of the
<br />improvements and buildings constituting part of the Trust Estate an amount.
<br />Note lco - insurance nutexceedin .8 permitted). Such insurance pulicY shall contain
<br />unpaid principalhalanceofthe
<br />a standard mortgage clause in favor of Beneficiary and shall not he cancellable, terminable or modifiable wiihoutten
<br />and replace the Trust Estate or
<br />l0i days prior written notice to Beneficiary. Trustor shall promptly repair, maintain
<br />Estate. shall not deteriorate. In noeventshall the
<br />any part thereof so that, except for ordinary wear and tear. the'rrust.
<br />Trustor commit waste (in or to it,(. rust Estate.
<br />4. ACT iOti5 AI } F.('TI!N. 'FRL'ST ESTATE. Trustor shall ppear in and contest any action or proceeding
<br />Bt- or Ttusue, and shall pay all costs and
<br />purporting to iffe^t the security hereof or the rights or powers of neficiary
<br />expenses, including cost of ec idence of title and attorneys fees, m .try such action or proceeding in which Beneficiary
<br />do in the manner provided in
<br />or Trustee may appear. Should Trustor fail to make any payment or to any act as and
<br />Beneficiary and, or Trustee. each in its own discretion. without obligation so to do and
<br />any of the loan Instruments, the
<br />demand upon Trustor and without releasing Trustor from any obligation, may make
<br />'rrusrhall.
<br />without notice to or to s
<br />same in such manner and to such extent as either may deem may to protect the security hereof.
<br />incurred by Beneficiary in connection
<br />immediately upon demand therefor by Beneficiary, pav all costs and expenses
<br />by heneficiarp of the forekuing rights• including without limitation costs of evidence of title. court
<br />with the exercise
<br />cost*, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten 110) days of written
<br />demand shall draw interest at the default rate provided in tilt, time.
<br />5. EMINENT DOMAIN, should the Trust Estate. or any part therem+f' or interest therein, e taken or damage 6y
<br />in manner including deed in lieu of Condem-
<br />season of any public impnn'ement or condemnation proceeding, or any other
<br />information regarding such proceeding .Trustor shall
<br />natiem i "Condemnation "i or shook! Trustor re•cive any nutia• or other
<br />w --itten notice thereof ti. }ieneficiary. Btmef ciary shall tie entitl('(t to all compensation, awards and other pay -
<br />give prompt
<br />mentes or relief therefor, and shall fre' eCltiticd at its ilption to 1't rnenc'e, }tplie}tr i i1 and prosecute In lib own I7 }Ifrlt any action
<br />in connection with such taking or
<br />or proceedings. Beneficiary shall also he entitled tii make a ry comprclmise or settlement
<br />All cornpensation. awards, damages, rights of action and proceeds awarded to Trustor tube "Proceeds't are
<br />damage.. such
<br />hereby amigned to Be neficiary and Trustor agrees, to execute such further ;(vsianntenty ul the Pruccects a Beneficiary or
<br />Trustee may rtnuin.
<br />6. A1,),olNTN1F.NT flF [ c so )R THl �I'FE lieneficiarc may, lnmi tent t tire. by a written instrument
<br />t litntbl iriry', nttn of t,, Trustor and IicH•urdecf In the a �r rl}Iti\ 111 wtnell full• Trust Estate IN
<br /><
<br />exwuted and acknowiedge(i
<br />theprie.l i n ,tit ten( ?trhi•atl�e [aw ,'I t}le`5tat+t >I hei11 ^,t hl�nllGtitlitt .l hat'(•f'1FYer
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