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<br /> Deed of Trusi
<br /> �9nnrxs �V�'
<br /> � ��� 100323
<br /> � TH1S DEEI?OF lRUST is made thls At� day oi i�.�� , 19 2Q._,by sn ld L. Laraon and _,
<br /> Catherine M_ Larson� NIIAI)AT[� and Liife whel (hereinalteicaNedihe"Tiustor),
<br /> whosemaliJn�add�esslS �27 �.1,ndpn Aven»w_� Grand Island, Nebraska ,
<br /> � NC�Rl+YES78ANK�bs"89kF►�-NFtt�nnat s�aaenfatien_ . (ltL:gi�t�f! �Ste38'), w�5vserrlaiir'��gaifdrer3sts
<br /> 207�T�jrd� �and Talandi N . ,and NOAWEST BANK Nebraska. N �ciation ,(herelnafter
<br /> CBNAd thA"BenAficiary'),whose mailing address rs 202 4Tegr Third., Grand Is 9�� 6$801 ,
<br /> �
<br /> WlTNESSETH:
<br /> ' !F THlS BOX!S CHECKFD/ X J THIS DEED OF TRUST CONSTITUTES ON
<br /> , SECl1RiTY AOREEMENT UNDER THE NEBRASKA CONSTRl1CTION L!E ATES,
<br /> ; GRANTS AAfD CONSTITUTES A CONSTAUC7/0N SECURITY INTERESI iTY
<br /> , DESCRIBED HEREiNBEtOW.
<br /> � WHEREAS, Trustor Is indebted to Benenciary in the principal sum o/ Ei�t Thous L00 ------ -------------
<br /> � OoJla►s(S—8,A0.0�.,40.—),which lndebtedness is evldenced by Fiusior 5 promrssory not� �$_. 19.4�,(hereinafter
<br /> called the"Noie'),payable to the orde�01 Beneficlary and having a maturity o1 -rl.i; 9 .
<br /> NOW, THEREFORE,for the purpose of secu�ing:
<br /> � (a) payment o/the Note,together with inferest thereon,(aie charges,prepayment penalti rances,and all extensions,
<br /> modiflcations,substifutlons and renewa/s thereof,
<br /> : (b) payment of all other sums,fees or charges,fogeiher with inierest thareon,advanced �uriry ol this Deed of Trust and
<br /> the performartce of the covenan?s and agreements of Trustor, whether or not set toRh
<br /> � (c) performance,discharge of and comptiance with every te�m,covenant,obligatlon nna isfor contairted herein or
<br /> incorporaied by reference or any other security insUUment et anytime given io secure
<br /> i (d) the repaymant of alt other sLms or luture advances,with interest thereon, which may �een or he�ealter be advanced
<br /> ; by Beneflclary fo Tntstor or Tiusior's successor in interest or tiile,
<br /> ' aU of whlch!s herelnafter coliecdvely calied the"Indebfedness", Trustor inevocably grants iustee,in t�usL WfTH POWER
<br /> � OF SALE,the fol/owing descrJbed propeity:
<br /> ;
<br /> � Lot Thirty Five (35), Regency by the Green Subdi �iddition
<br /> to the city of Grand Island, Hall County, Nebras .
<br /> I �
<br /> i
<br /> � together with(i)aU buildings,structures,additions,enla�gements,modifications,repairs,re� i»provements now or hereafier ; _
<br /> /oGated thereon,(il)a/l equipmenL machinerv and tixtures(Includlno,withouf liW»itation,all li entilabna.coniinn.air l ,•v---
<br /> - � condiiionln - . _ _. . �,,
<br /> g,sprinkling and plumbing�xtures,water and power sysiems,engines,bailers,, shwashers,mlrrors and manfels,
<br /> � carpe6ng,/umaces,oi!bumers,efevaro►s and moto�s,refdgeratlon p►ants o�units,commun iynamos,transformers,electrical _
<br /> � equlpmenL storm and screen windows.doas,awnings and shades)now or hereafter attacl any building or lmprovement --
<br /> � now or he�eatter/ocated Mereon,(lii)a!!easements and righis ol way appurienant thereto, estate,right, titie and interest of
<br /> Tiustor In and b all/eases, whether now or herealter existing or entered info(including, witl cash and securiry deposits, .
<br /> : advance ienta/s and deposits or payments o1 a sTmilar natu�a),peKaining thereto,(v)ap ren and income the�efrom(subJoct , .
<br /> : to the right o/Tiusta to col/ect and app/y such rents.issues,profits and income as they bec yable so/ong as no event of
<br /> � default exists hereunder),(vl)all royalties,mineral,oii and gas rights and profits,water,wat� er stock,(vii)all fenements, `
<br /> i hereditaments,privileges and appurtenances be/onging.used or enjoyed in connection the �ll proceeds of conversion,
<br /> � voluntary orinvduntary.of any o1 dre foregoing Into cash a liquidated c/alms(includinQ, wi! oceeds of Inswance and __
<br /> i condemnadon awards),al!of which is hereinafter collectively caUed the"Tiust Piope�ty".
<br /> � f TO PROTECT THE SECUR/7Y OF THlS DEED OF TRUST, TRUSTOR COVENANTS AND LLO WS:
<br /> } 1. TrNe. Trustor covenants,warrants and agrees with Beneficiary,its successors and as r owns the Trusi Proparry fiee
<br /> _ { from any pdallen or encumbrance,that th/s Oeed of Trust is and wil�remaln a valid 2 �ist lien on ihe Tiusf P�opeRy,
<br /> 1 that Tiustor,at its expense,wlq preserve such tide and will maintaln thls Deed of Trus vamouni lien upon the Trust �.
<br /> � Proper�y and will faever wanani and defend the vaJidiry and prloriry o1 the lien hereo as of all persons and paties �
<br /> � whomsaever.Tiustor,at its expense, will cause this Deed of Tiast,and each smendn nt hereto,to be flled and • �==
<br /> ! recorded 8s a mortgage of the Tiust Properry in such manner and in such place and tlon as in the opinion of Trustee I��:�
<br /> � may be required by any preseni or future law In order to perfect,maintaln and protoc eed o1 Trusf, as the same may _ ,
<br /> . be amev�ded or suppiemenied from time to time. Trustor wili make such further assw� ss to perfeCt its tit/e io the Trust � �• .
<br /> Property as'rnay be required by Beneficiary. Trustor hereby relinqulshes all right of d� ead in and to the Trust PropeRy. '.
<br /> 2. Payment ol Indebiedness. Trastor shall punctua/ly pay the princ/pal of and inierest or �s secured hereby. � `
<br /> � 3. Consbuction of Improvernents.Tirist�or shall complate in good and wakmanlike manne� provemertts or repairs relating
<br /> thereto whlch may be begun on the Tiust Prope�fy o�contemp/ated by the ban evide �secared hereby.to pay when
<br /> due aB costs and liabllities lncurred therefore,and not to permit any cortstruction lien �t Properiy.Jn the evenf
<br /> constructlon of buildings,impravamants�r repaJrs are contemp/ated, Trusto�alsa ag; �his Deed of Trust to the conuery
<br /> ratwithstanding;(a)to promptly commence any such work and to comp/ete the piop� �ts prompt/y, (b)to cornplete the
<br /> . same in accordance with the plans and specifrcations as approved by Bene�clary,(c all the te�ms of a building laan
<br /> , agreemeni,il any,between Tiustor and Bene�clary,the ferms of whlch are/ncoipo►a �rence and made a part hereof,
<br /> (d)b allow Beneflciary to inspeci ihe Trust Prope�fy at a!I times duNng consiruction,� �any wo�k or materials
<br /> ,. unsaUafactory to BenelJclary within fifteen(15)days afier w�tten nofice Irom 8er�eflci+
<br /> 4. Funds for Payment of ChargBS.Subject to eppllcab/e law or to a written waiver by B6 shaJl pay to Benefir,iary on the
<br /> first cFay of each monfh,o�such ofher date each month as may be specified by Bene1 dabtedness rs paid in full,a sum
<br /> (hereinafter caJled ihe"Funds')equal to 1/�2th of the yearty taxes and assessmenis priority over thls Deed of Trust ---__
<br /> • and ground rents on the Trust Pioperiy,if any,plus f�12th o1 the yeady premium insta i insurence,plus 1i12th of the
<br /> yearly premium instellments for moRgage insurance,if any,aJ!as reasonably esfimate n[rme 10 tima by 8eneficisry on i
<br /> the besls o/assessmenis and bills end reasonable estimafes the�eol. The Funds shal ;titution,ihe deposits or �
<br /> acCOUnts ol wh/ch are lnsured or guarartfeed by a federal or state agency including E ic�ary shea apply rhe Funrls ro �
<br /> � . Osy setd taxes.assessments.insurence nremiume wnrf orn�qtl r9nts. Benet�r)ary sh�: to p8;Tiusto�s�y inieresi or
<br /> '�,�� earnings on the Funds.Beneflclary shell give to Trusfa,without charge,an annusl ec unds showing credits and -
<br /> debifs[o the Funds and the purpose for whlch each debit to the Funds was made. Tr ged as additional security tor ��
<br /> L the lndebtedness Secured by this Oeed o!Trust If the amount of the Funds hald by 6 er with the/uture monthly
<br /> installmants ol Fu�ds payable prior to the due dates of taxes,essessments,insuisnCe round rents, shal!exceed the
<br /> � amount requlied to pay sa;d taxes,assessments,insu�ance piemiums end ground rei p,such excess sha��be,at n
<br /> Trustor's option,eifhei piomptly iepafd tv Trusfo►or c�edited to T�usto�against luture nts ol�unds. Il the amount of �J
<br />- � the Funds held by Beneficlary shall not be suHicient to pay tAxQS, assessments,insur� �d ground ren�s as they Iall due. ,� !
<br /> Trustoi shall pay ro Beneflclary any amount necessary to make up the debciency w�th �the date notice is mailed by ,� �
<br /> Beneficiary to Trusfo�►oquesting payment thereol. Upon payment in lu/l of al!lndebte� y shal�prompdy ralund to �_� �
<br /> Trustor�ny�unds hald by BenAlic�ary. 1/the Trust Property�s sold undar tho powe�o Properiy is otherw�sp acqu�rpd
<br /> by Benelrc�ery. Benohciary sholl apply,immediately pr�or fo thv sala o/the trust Prop� ron by 6enefraary,any Funds
<br /> huld by Benehc�ary et fhd f�mt�oi t�pphcobon as a credit agemst 1h�►Indobtednoss 1!i tvs a wniton wa�ve�of rn�stor s
<br /> � oblagt�trvns undu�th�ls parayia�h 4, lrustor cove�nairts and t�gror�s to puy,beln�n tho s nryu�nt. al<<<�ro�.rJSSessm.ents.
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