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<br /> � CONSTRUCI'1t7N SECURITY AGREFMENT'fRUS7'UFEI� �_,__
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<br />-' • MQlvin Le�.�--�and Jacquel n A._ �,__._
<br /> • � , . •��I•HtS'�'RUtiI'DGC•Diem�dclhisethawY��r_December �hcr¢in"Homnwcrx)Wwl,osenulinROddretiaiv u�6�KeC7YlL9�����..__ 1-B.IIS� __--
<br /> , . Legg,, husbend ancT�`wife .._� —� _ ,(hcrc�n"Irustcc'),and thc I3cncfici�q•
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<br /> � Slalt� 6@8Q3_- --•ond._S_ �1 sb -ank ---- - '-
<br /> �y �_ {� a�Veb e$�a ba�p _ng.aS�o.L�_ o - ----�— ------- �'
<br /> .. tr0mg ur9 sa •. � �6�6_��_ _ - -'�hcrcin"I cndcr"1
<br /> uhi�ycmmling:�aar�ss�s_�D�Q_East �1r��f.-roe.� 5froms UI'g1._..
<br /> liorrmvcr,in rnnsidcnii�m uf ihc indcbtcJncsv hcrcm ircitcd nnJ ttic"I rusi hcrcm crca�ed,irrevocnbly S a c of��C��NB�ra ska���n tnisi,widi Ihc I'�1Wl�It��f •
<br /> ' SA I.li,ihc fnlluwin�;d¢5crilud propctly loctucd In thc Counly nf_ H8I I__.-. - ----
<br /> sse attached Exhibit"A"
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<br /> � '' �lhat secures xn obligation Ohe"Nole"descrihed hclmv)which ihe Borrower incurred for the purpose o making an improvement in snid property,and constitutcs a �-
<br /> �; r"canstNCtinn sccuri�y intcresi',as dcfincd in Ihc Ncbraskn C:onsiruction l.ien Act,in said property. �,,,
<br /> Y: �Togcthcr with all buildings,fixturc9 nnd improvcmcnts now on c�:reafler crcctcd thcreon and nIl rights-c�f•w�y,cacemcnis,rcnts,ixsues,pmfits,incamc,tencmenis, `
<br /> hereditaments,privileges,nppurtennnces,roynitias,And mineral,oil,gas and wnter rights thercunto belonging,used or enjoycd with said land or any part thereof,und
<br /> " tf the hnmeslead or marital intcrcsts,if any,which intcrests nrc hcrcby rcicased and waiv°e n� tIo ciher'�v th snid property a e hcrcin refcrtcd ta:�s thc t Propcny dcemcd -_
<br /> �,' to bc and rcmain n part of thc propcny covcrcd by this Tnist Uecd,and all o(thc forcg S E _-
<br /> "(o ucurc tn LenJer�he repaymem of inde6tedness evidenced by i3ortnwer's norc dated DeePmber 8 , 19 9T iogether with any and oll rcnewals,
<br /> mudificatiuns,and extcnsions thcrcof and substitution or czchangcs thcrcfor,(hcrein"Notc") in thc principal sum of S�J OOO.�� ,u�gcthcr�vi�h
<br /> • ��, intercst at thc�ate provided thercin,with a final ma�urity,if not sooner paid,o(�,U�]e � q�-•and as securiry(or any fuwrc advnnces th�t may be
<br /> ' madc by Lcndcr to l3orrower t'rom tiiue to Umc and as security for�hc payment of any and alI othcr indcb�edncss of the[iorrov:cr to thc l.ender��hich may arise,all c
<br /> of said sums noi to ezceed in�he aggre8ate a sum equal ro three�imes the originnl prineipal amount of the above recited Note.
<br /> E3onnn•cr covcnnnts thut Bonrnvcr is lawfully scizcd of thc propeny hercby conveycd and has�he right to gr�n�ad convcy thc pmperty,that thcn TfavorY o(
<br /> � unencumbercd by any mortgagc, uvst decd, contract to purehase, or othenvise, cxcept for a � y����cr m�cnants lo comply
<br /> . • • on which ihc unpaid halance on this dntc das not azcced S_ n/a
<br /> with�II the terms and provisions of any prior mortgage,trust dced or canimct to purchase,upon Ihe pmpeity and to make all payments thenon befarc thcy become
<br /> dclinquenL If no namc or amount is insrrtcd in this pnngraph,thcn Bort�wcr covcnants lhat thcre arc no prior licns ot any kind upnn thc pmperty. florroacr furthcr
<br /> covenants to warrant nnd dcfcnd the titic to the pmperty�SQ�nst all claims and demends.
<br />- Horrowcr and Icndcr furthcr covcnunt nnd agrce ax follows:
<br /> , � . �, Horc�wcr shall pmmptly pay�vhen duc thc principal nnd intercst on�hc indcbtedness cvidcnccd by thc Notc.
<br /> " 2. At Ienst ten days betore ibey uecome uoi�uy�e��i,Ga�ro::::s!:=�1 F°;^-!I��xrc end snecial assessments levied or assessed agninst the pmpeny,or any part
<br /> therwf.and all taxcs,Icvics und asscssmcnls levicd upon Ihis Trust Uccd or the dcbt which it sccurcs.
<br /> 3, Bartower shall keep the itnptovemenls nnd buildings,if any,upon the pmpeny insured, with a company or companies approved by the Lender,for an
<br />- • � � amount not les�than ihc unpaid balancc on Ihc indebtedncss securcd by ihis Trust lked with a standard mongagc clausc with loss paynblc to thc L.endcr. Borrower
<br /> shall dclivcr said po�icy or policics to ihc Lcndcr.
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<br /> In thc evcnt af n loss,Bortower shall givc pmmpt noticc to thc insurance camer and thc Lendcr and tilc n proof of loss. If the Borrower is not othcnvise in dcfault,
<br /> '� ' ' . the Rorrower may elcct to apply the insuranee procccds to rcpnir or rcplacc thc damagcd pmperiy,if economicully feasiblc,and thc sccurity of ihis'17us1 Deed would
<br />-� � , not he impaired. If the Rorrower is in defaul�or elects not ta repair or rcpiace the dmm�ged propeny or rcpair or rcpincem�nents dua on he No em'If fthef insumnce
<br /> � the security af this'I'rust I)eed uould be impaired then the insuronce pmceeds shall be applieJ�o the last muturing p•Y
<br />' pmceed+arc in cxtess of�he totul amount due on seid No�c,Ihe exce�s shall 6c paid to lhe Dorrower. Insumnce procceds for rcpair ur rcplacement ehall be placed in
<br /> escrow with the I.ender nnd distributed by l.ender during or upon tompletion of such rcpoir ur replacement. If the Lender ecquircs title tn tlic property by exercising
<br />-- , _ , , .• i its power of sale,�OMCIOSUR Of OIIICM'ISC,in satisfaction of the indebtedness securcd hercby,in whole or in part,then oIl right,tide nnd Intcrcst of the Harrow,r in
<br /> _.,, , nnd lo such insumnce policy or pulicics shall poss Iu thc Lcndcr.
<br /> W .r
<br /> c • . 4. f�or the purpose of providing n fund for thc payment oi taxes,spccial asscssmcros and insurnnee prcmiums. Iiortowcr shnll dcposit with Lcnder,on the
<br /> datcs that paymems nrc due on thc Notc,nn amount cqunl to the laxcs,assessments nnd insurancc pmmiums next duc(all as est:mnlcd by thc Lendcr,less nmounts
<br /> ol;r�dy depositcd thcrcfor)dividcd by thc numbcr ol'p�ymcnts on thc Note that will bccomc due prior to the datc when s��ch taxcs,osscssmcnts nnd insurence
<br />_ . prcmiums will bttomc duc and pnynblc. S�id(unds will bc hcld by thc l.cnder in�non-interest bcaring cscrow account(or thc puc1wscs set fortli nbovc. If thc
<br /> _ ' omounts of thcse deposits arc not suflicient lo pay laxes,assessmcros and insunnce prcmiums as they become due,then Fiorrower shall upon rcqutst,pay Lender the
<br /> . nmount ncccssary lo make up thc dcTicicncy.
<br /> �'�t' S. Unless applicoblc law pmvidcs othcnvisc,alI paymcnts rcccived by l�ndcr undcr thc Note and paragraphs I nnd 4 hcrcof shall bc applicd by I.cndcr first
<br />� �� in payment of amounts payablt to I.cndcr by{lortower under parograph 4 hcrcof,thcn to intcrcst payablc on thc Note,thcn io thc principal of the Notc,nnd thcn w
<br />_ fi inumst and principal on any funhcr advances or oihcr indcbtcdncss securcd hcrehy.
<br />' 6. Hnrrowcr chall kccp thc pmperty in good npair nnd shall not commit wastc or pertnit impairtnent or dctcrior.ntion ol thc I'ropcny.
<br /> 7. It 13ortowcr fails ta:a)maintain or pny thc prcmiums for thc rcquircd insurnncc of the propcAy,or b)pay tazcs bcforc dclinqucnt,or c)pay nny amount
<br /> due under n prior morlgage or trud deed hefore dclinyuent,ur d)mainlain the property in gcxid rcp�ir,or e�perform nny of t6e ro�cnanu or agmementx of this 1'rust
<br /> ' I)ccd,�hcn I.cndcr may N its op�ion pnY such insutnncc prcmiums,taxes,mortgagc or wst dccd paymcnts,or makc rcpairs und dishuac such sums nnd tnkc such
<br /> action as i�dcems neccssary to protcc�its mtcres�without waiving or affccling its nght to dcclarc a dcfault and accclemte the dcbt secureJ herehy bccnuse of any
<br />- such failurc of the 19orro�cer. Any amounls so Jisbursed hy ihe Lender shnll constitute additional indeb�edness o(Borm��er secured by lhis 1'nist Iked and shnll bear -
<br /> iNCirst from the Jate of disbursemenl at the r.�te paya6le under the Noie. Nuthing comained in this pamgr,iph shall rcquirc Lender�o make any such disbursemems
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<br />, nr iakc any attion�vhmsocvec �
<br /> H. I cndcr may m�kc ar caa<c tn hc madc rca�on:�hlc cntrica u�xm thc in•��.r„��<<�i�i,�r«•p��>•
<br /> 9. I hc prtxccdc of any a�y:ml��r claim fnr dama�gcS,direct or cunscyucntial,in conncc�ion��ith uny conJcmnntion or othcr taking of the pruperty,or pnrt =
<br /> thercof,or lor convcyancc in licu of ennJcmnaiion,are hc�rby assiQ�,cd and shall hc paiJ�o Lcndcr ro thc cxtcnl of Ihc full amount of thc rcmaining unpaid
<br /> inJcNtcdnc>s srcmrd hy this I'mst Uccd. _
<br /> . . ..- . .__�.__.. _......i.,.�..��ip p rini�n for dmnaecs.
<br /> i I(thc pmperty ic ahandonod hy Rom���cr,or ff,o(tcr nulicc by I.CnJcr to Hurtmvcr Inm tnc conacm�w� ���a���•����•••�• �..-.- _.---.- :
<br /> {inmarrr I'aik tn respond tu I.endcr within 30 Jays n�1cr the datc such nnlite is mailcd,Lender is.mihorved io collect anJ�pply�he pmceeds�o the�ums securcd hy �
<br /> . I 1I115 I IUSI I)CCI� I
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<br /> ('onckmnauun�mceeJ�nr awarJs�hall hc creJileJ tu Uic lasl ma�u��'�R�nsiallments of�he indchirdness cecurcJ and shall nr t exlend or pos�pone�he Jue dnle nf the i
<br /> , ' inatallmcros rcfcrrcd ln in p�mFr,tpha I and 4 hcrcn(or chanFc dic:+i»nunt nf siich insl�ll��io�i-
<br /> � �n If thc I cndcr i«uct a partial rcica<c ��I this I�LZi 1)ccJ,thc pmcccdc rccci�•cJ Ihcrcfor sltall hc creJilcd lo �hc I�wt matunnt_mctallmrn������h� I
<br /> I indcblcdnccc cccurcd hcrchy.
<br /> . i i. ,�t.c:d:r ei!h^�•••!��^��"h•��r im•aluntarily hccumc.a pahY to any suit ur Icgol pnKCCdinF rclating to thc pmpcny,nu�c or this I rus�Uccd.�I�^^�rRiinuc
<br /> 'I «dl rcimhunc�hc I.cndci Gu all cocts anJ,lu Ihc�nlcnl pcitttillcd hs lao',rt•asnnahlc nl��+mcy fcc�incurrcd hv Ihe Lr.ndcr icl:diu�:lo,u<7i:�;i�::.^F�..- I
<br /> _ „ �i��ciid wm�chall r��n�litutc aJdiiinnal mdrhicJncct sccurcd hy this h��1 I)ccd and hcar inlcicst at tl�c rnc paynhlc undcr thc N���c,uWil paid.
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