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<br /> � �� 9''t--�1�i�69 pEED OF T U T "' N "� �
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<br />� `' AND CONSTRUCTION SECURITY AGREEMENT �03� F;`�
<br /> *. 1997 .by and unony th�Truttot, �~J
<br /> k THIS QE�D OF TRUST, Is m�ds u ol lha 16#�'� d�Y o� � �
<br /> �".
<br /> � omes Inc. 807 West 4tt Is an r (hereh'earowr'), �;;._
<br /> � ��' Archer CoaPerat vs . an, . U. B�x r �► (haeb �Trustne�), _-�_
<br /> lhe Truslee, e°
<br /> �nd Ihe Benellci�ry, A*-che* C�oc�ative Credi on P�AeY� ���' NE 68816 (hKein
<br /> • �. •Lendv'). _.---
<br /> • FOR YALUABLE CONSIDERATION, Inciud{ng th� Indebtedness IdenUtlad heretn and tha truat hxeh aealed, lh� rocelpt of whkh Is ��'�—
<br /> ' ^ ' haeby acknowledped,Borrowe�hKaby kre+►or,�b1Y pranta,Ir�neters,conveys and a�dyns to Truste�,IN 7RUST,WITH POYVEH OF SALE,lor �
<br /> �`
<br /> th� bmeAl �nd secudty ot Lender, under and �ubJecl l0 1he tertns and condiqon� haein�tter tel torth, the reW propaty, detatb�d as __ :�—
<br />_, . . �� ' loqowt: =.
<br /> I,ot Eleven (11), Nbrningside Acres Third Subdivision, in the City of Grand Island,
<br />_ Hall Cotmty, Nebraska.
<br />: � . .
<br />_ - ---.. - =-�
<br /> R IS UNDERSTO00 BY EIORflOWER AND LENDER THAT THIS INSTRUMENT, 1NHICH IS SECURED BY 7HE ABOVE REFERENCEO
<br /> PROPERTY, IS A CONSTRUCTION SECURITY AOREEMENT AND THAT IT DOES OR WILL SECURE AN OBUQATION WHICH 7HE
<br /> = BORROWER HAS OR WILL INCUR FOR THE PURPOSE OF MAKINd AN IMPROVEM�NT OR IMPROVEMENTS ON PROPEFiTY
<br /> �' HEflEiNOEFORE DESCRIBEO. �
<br /> . Tapelher wilh all bu8dkips, Improvements, Iixwres, slreels, sqeya, paaaagewaya, e�semonts, dphu, privWepes �nd appurtanance� bcat�d
<br /> �'7 , lhareon ar in snywlie pettalninq lherelo, �nd 1he renta, Isauea and pto0ta. rwerslons and remainde�s th�reol; hcludinp, bul nol Mmll�d to,
<br /> heeUnp end coolinp equtpmenl�nd such pasonsl property th�t Is aUached lo the knprovemente so u to conaUlut�a Qxlute; d ot wh�h,
<br />_ . -�- lacludinp repl�cement• �nd nddlllons Iher�to,Is hereby dsclared lo be a pM ol lhe raat�sUte aecured by the Yen ol lhis Daai ol Trust�nd
<br /> � aN ol the toraqofnp belnp reterral lo hereln as the'Properly'. ��
<br /> This Deed ol Trusl ehaq secure (a) the pnyment ot the princip�l num and�Interests evldonaed by Bortower'a nat� d�l�d
<br /> ., F�� Decgnbex 16. 1997 .havinp�mawdly dete oi Novetnbpx 1. .1998 . ' .In tha alpind pr(ndpal unamt ol
<br /> ° •� ='�¢Q�000_0� and any �nd �tl modl0caltona, exlenstons �nd tenowals lheraol or lh�eto (herein caqed 'Note); (b) lhu ptymenl ol
<br /> other aums advanced by Lender to prolect lhs secudly ol lhli Deed oi Trusl, wtth Inlerest lheraon aa provided In the Nole: md (c) the
<br /> pedormanco ot all covemnts and agreemonl to Borrower est lorth het�fi. ----
<br /> t
<br /> I Dorrower,to protect the sacudty ol Ihls Qeed ol Trusi, covenanls end�grooa wilh Londer�a followa: �.`
<br />, ' ' � • 't' ••• : 1. Pnymont ot Principul anc! tntorest. BoROwcr shall promplly psy whm due Ihe principal of md Interest on, and■ny taaa �;;,n_
<br />� � ' � ' � or charpas provtdod In,Ihe Noto or k►lhls Dacd ol Trust.
<br /> i I � 2. T i t l o. [l o r r o w e r I s t h e o w n a r o l t h e P ro perl y, has lhe ii ght and aulhority to convey tho Propaly, �nd warranls lhel lhe Wen � -
<br /> {
<br /> . ' ; created heroby Is a tlrst and pdor Ilen on Iho Property, oxcopt ae msy othonvise be sel torth hereln, end the vxecution�nd delNery n f l h la
<br /> � Dced ol Trust doas nol vlolute any eontract or othcr obligellon lo whlch Ootrower Is sub�oct.
<br /> f � ' �. Taxos, RssoSStnonts. To pay when duo all taxos, speclal usaossmonts�nd all other cherflos againal the Propeny and,upon
<br /> wrltlan demand by Lander,lo pay lo Lendor such amouni as may ba sulllcienl to onable lho Lander to pay ouch lexas,tesesamenit or olhet
<br /> , chargos a$thay become due.
<br /> . __.. . _.. : . ���..����� T� L��.. IM� e.......d.i inwmd ��n�na� dnmann bv Oro. hazurds Inciudsd wllhin Ihe tertn 'extended coveraye•, �nd
<br /> `' --" ' - I Y• IIIbY�0i14V• Iv na� .....
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<br /> such olhor hnzards as Londer may requlro,In amounls and wilh companles acceplablo to lhe Lender, and wllh Iosa piywbto to Ihe Lender.
<br /> In caso al loss under auch policlos, lhe Lender Is aulhoriiod lo adJust, colioct und compramiso, all ctalnts lhoruunder and shsq have tho
<br />— ' • opilon ol opplyinp all or pnrl of lho Insuranco procoads (I) to any Indubludness socurod hereby nnd In such order as Lendor mey delermine,
<br /> (4� lo tho Dorrower lo bo usud tor tho repalr of rostorntion oI Iho Propo�ty or (ili) for any other purpoae or obJecl aallslaclory lo Londor
<br /> , wllhoul allocllnfl Iha Ilon ol Ihis Dood ol Trusl lor tho lull amoiml aecurad horeby holore such payment eve�took piaco. My eppUcallon al
<br /> � ' proceody lo Indablodnoss shall nol oxlend or postpono tha duo dalo ol any pnymenls undar tho Nolo, or cura eny dotnuil lheraunder or
<br /> � herounder.
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