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<br /> /�0 l�eed of Trusi
<br /> �Ba�,Ks
<br /> "�" aQ--� 1����8
<br /> � THlS DEE�OF TRUSFis made this�2_._...day ot March , J9 90 ,byand between ,
<br /> Robert E. Rasso and LaVanne L. Rosao ` whetheroneormore,(FereinaftercatiedthQ"Trustor'),
<br /> whose mailirtg address�s
<br /> : NOJ�YF�Sf�APlKr N� k�.�i_.o��l.A,��sociation (hereinaftercallertU;a"Trustea'),vrhoserrs�itrrigadrlressls
<br /> ax , ran s an , ,and NOAWEST BANK
<br /> caltedthe�'3er;efrclary'),wAosemai(ingeddressis P- Q• Box 1768, Grand Island, NE 6g$p2 •fhereinafier
<br /> WtTNESSE7H.• ,
<br /> /F 7H1S BOX 1S rH�rKiA( J 7H1S DEFD QF TRUST CONSTlTt/TES A CONSTRUC7I�N
<br /> • SFGURITYAGREEM.EM UNQER THF NEBRASKA CONSTRUCTlON UEN ACT AND CREATEa^,
<br /> GRANTS AND CQN$Ff�UTES A CONSTRUCTIpN SECURITY INTEREST IN TNE PRQPFRFY
<br /> , DESCR/BFD HEi?ElNBFLOW.
<br /> WNEFiEAS Titrstor is indebted to Beneticiary�n the principat sum of_.,.�H_jRTV FIV� THOt Sa*m erm��/��� __�_________ _
<br /> Oullars($ �5•��L�•��-},which irrdebtedness is evidenced by Tius�or's promissory note dafed riarr_tf lg , �g.90 , (hereinaRer
<br /> called the"Nafe'),paya,Ele to the order of Beneficiary and having a matuRty of_September �.��_ I9�1
<br /> NOW, TH�REFORE,lor the pu�ose,ol securing:
<br /> (a) paymentof ttre Note,together svith interest thereon,late charges,prepayment penalties,anyt luture ec'�ignr,BS;�rrd.a8 extensions,
<br /> modific�ians,substitutians arrd rene�fals thereof,
<br /> (G';•,payment af a!I otirer sums,fees or charges,together with interest thereon,ad�lancad to prcteat Ihg aeauritg.of this Deed of Trust and
<br /> the perfe�tnance ot the covenant.s and agreements of Trustor, whether or not set fvith herern,.
<br /> (c) perfermance,discharge oland compliance with every ferm,covenant,obligation and egreement af Tiu�stQ�.caMained herein or
<br /> inca�po�afoU by relerence a any other security insdument at anytime given to secure th�3 Note,and.
<br /> ' (d) the repayment of ali other sums nr future advances,with interest thereon, which may he��totaf�hnv�been orher�after be advanced
<br /> by Benerciary[o Trusto�a�Trustor's successor in i�terest or title,
<br /> ali of which is hereinafter collectively cailed the"/ndebtedness", Trustor inevoCably grantQ and transf��s to Tiustee,irr trus� W/TH POWER
<br /> OF SALE,the follos�ving descrrhed properry:
<br /> Lot� 5 & 6, in Weatgate Subdivisioa, Grand Island, �
<br /> Hall County, Nebraska.
<br /> together tyith(i}a!I buildings,struc.*�•re�..additions,enlargements,modifications,repai�s,repl�cements,errd�rr.prouements now or hereafter
<br /> loeared thereo�,(ii)a.fl�}:oment reitsinery and lixturos(inc/udiro. ,w��hout limitation,a11 irghting,hear,"r,g, centilating,cooling,air • �
<br /> conditivning,sprinkl/n.���etumbing�ictures,wafer and power sys�.c; Ergirr�s,boilers,ranges,over_,c`ishwashers,mirrors and manfe/s,
<br /> carpating,furnaces,oi;�.�.�.i;,-s,elevato�s and motors,refrigeration��:^'��r�r�:s,communication systerr,s,dynamos,transformers,electiical •
<br /> equJpment,storm and sa�r�vuindows,doors,a�vnings and shades;-�;.w�r 7erea�ter attached to,or built In,any building or improvement
<br /> now or hereaf.Er focated thereon,(iil)al!easements and rights ot w�;;appuRenant therefo.(iv),afi leasehold estate,right,title and interest of
<br /> Tiustorin ar,cf t�all leases, whether now or he�eafter existing or E-r✓-:d into(incluQing,without Ilmitaiion,all cash and securiry deposits, '
<br /> advance rer.'3.'s and deposits or payments of a similar nature),pEr'�:a;ng theieto,(v)all rents,issues,profits and income therafiom(subject �
<br /> to the iight of Trustor to collect and apply such ients,issues,prof;:��::,^d income as they become due and payable so long as no event o1 �-
<br /> default exr�f,s�he�eunder),(vi)al!royalties,mineral,oil and gas rigt,�and pro/ifs,weter, waier rights,and water stock,(vJi)a!1 tenements, � �" ,
<br /> heredita�rF-t�,p�ivileges and appuRenances belonging,used or�r.�yed in connecGon therewith,and(viii)a!l proceeds ot corve�sion,
<br /> vofuntary or�r:;�luntary,oJ any ol lhe lore��mg into cash or liquirla'31 c!alms(including,N�it,�oullim+tatlon,proceeds of lnsurance and
<br /> condemnabcr.4wards),aq of which is h�re,nafter collectively ca!±c-�rhe"Tiust Properry".
<br />_ TO PROTECT THE SECUfi11YOF TH1S DEED OF 7RUST. 7�:.�STaR COVENAN�S AND AGAEESl�S i=OLLOWS: ; �"
<br /> 1, Tit/e. Tiustor coveran.is,warrants aad ag�ees with Bene.`�c,ary,its successors and assigns,that 7rustor ovins the Tiust Araperry/ree
<br /> from any prlor lien o�encumbrance,that lhis Deed of Tru,�;�s and will re.�::�:-r a valid and enfoiceab/e lirst lien on the Tiust P�operry, '
<br /> lhat Trusfa�,at if.s expense,��!!fi!�se�ve such titte and�v;?l r^aintarn thrs�:>��o,'Tru�t as a p�si and paiemount lien u�ion the 7rusf `
<br /> Prope��ard will lorever wanan�-d delend the validiry and prioriry et rt�lien FrerE�,4galns�the clalms of all pe�sons and parfies
<br /> whoms�e�2r.7rus:or,at its expen5e,will cause thls Deed of Trust,and each amend,rrent or supplement hereto,tn be filed and
<br /> recorded as�rr�c�:���ge of the Trust Properry in such manner and in suc4:place and will takv such action as rn the op/nlnn o/Trustee
<br /> may be requl�ed�,r,�ny p�esent or luture law in ordor to pe�lec�,mainta,n and proiecl the lien of this Deed of Tiust,as the sas^��rnay
<br /> be amended or sL�pp;emented fiom time to time. Trustor will make such lurthe�assurance or assu�ances to perlect its title to tP�e i rust
<br /> Propt:"/as may be requlied by Beneficiary. Trustor hereby relmquishes a!1 nght o!dos�ier and homestead in and to lhe Tiust Prc,�er,'y.
<br /> 2. Payrr.Exe ol lndebfedness.Tiustar shall punctually pay the principal ol and interest on the/ndebtedness secu�ed he�eby.
<br /> 3. Constiuction ol l�r�r�;.e^�e.�ts. Trustor shall completa in good and workma�.�ika mannei any building� ;mprovements a repalrs rc'�ting
<br /> ihereto which mayr Cc L-:^��n on tho Trust Pr��erty cr contemplated by tke toan evidenced by the�;.;�s secured heroby,to pG�ivhen
<br /> due 811 cosls and Fs:.y.;,treslncuned theretore,and not to pe�mit any ca�si:rction lien against sucl:Trust Propeity.In the event
<br /> constri�ction of burldings,lmprovements or ropairs are contempJaled, Trustor also agrecs.aryth,�g in this Deed al Fiust to tha cantrary
<br /> notwr�•.�;randing;(a)to p�ompt/y commence any such worlr�r j lo r,omplete the propose�im�rc�ements promptly,(b)ro camp/ete the
<br /> same�^�.�c�dar.ce wlth the plens and specificatlans as 2�p�OV@d by B��!'�`Ci2ry,(c;to com,pty v,.�,h All thc terma of a builCi-3 toan
<br /> agre�^�tr.�,,D ar,y.B�'ween Tiusfor and Beneliclery,the ferms of which�:rc�ncorporated herern�y r�`erenco and made a parr Mereof,
<br /> (�;c�3�.;ew Ber,s'��ary to inspect thn Trust PropeRy at al!timas du�ing c�-�stiuction,and(e)to rE,:;:�ce any cvo�k or materrals
<br /> urrs�'�s.`3cfoty to Bertefrciary within hltvon(15}days aiter wrifian noNce liom Benefic,a^�of such 1ac1.
<br /> 4. Funds"ar Payment ol Chr�iges.Sub/QCt to applrcable/aw a�10 a wriKen viaivor by E�.:R�":c,ary. ':�rstar shall pay to Beneliaiary on the
<br /> lirst dey of each month,or such other date each month as may be specilied by Bene'.,:.;r,�,�;.°,�r�z�indebtedness!s paid in luN,e sum
<br /> (hereina(ter c�lled the"Funds"J equul to 1�12th ol tho yeartyfaxes and 2ssessrnents whlch rra,r�:+,.:,n prro�ity over thls Deed ct'rast ` - T
<br /> and ground rents on tha Trust Froperiy,it any,p/us 1!12th ol fhe yoar/y p-:.�rtium installments/a haz�rd insurance.plus 1-12tr•c•c t;e �
<br /> year/y premium instullments foi moKgage�nsurance,r/any, all as reasonably estime�ed inilialiy and/rom bme lo time by 8enef�c-G:v c�
<br /> the basis o!essessments and biils and reusonable osbmates�hereaf. The Funds st�a�i;�hold m an mst�luhon,tha depos+ts or
<br /> accounts ol wh/ch are inswed or guarantaod by a tede�al or slate agency/nc/uding,�:re•'.�ciary. Bvnet�ciary sha/l apply the Funcs to
<br /> pay sald tdxos,assessments.insurance p�emiums and ground ients. Benefrciary sh3:;r;t be re�ul�ed to f�ay Tr«slar any infersst or �
<br />_ 6urn/�rys c�n�ir�Funds.�onptrCrar�r SA3ilgivb fo Truslor,wifhout charge,an annual flccc•..�'rrg,;t!;^���unds showin,q c�edrts�nd �C
<br /> ;dabils to the Funds and the pu�pnse far which each debit to fho�unds was mada. Tho F'�nds ary p/edgeC as nifdihunal secunty fa � •
<br /> � s the lndabted�iass Svcu�ed by this Deed o!Trust. If Ihe amaunf ol thd Funds held by Benef�crary. togelhei w�th the luturo monthly ��,
<br /> �nstal/monts ot Funds payabla pnnr fo th�due dates of laxos,essessmvnts,rnsurance prom�ums anU grouncJ rents,sh��11 excaed the �.
<br /> amount�equired to pay sarU taxvs,ussvssmvnfs,rnsw��rCU p�onNU�rrs�rrd grour,d renis�s lhey lal!duo,sucfr excc.ss shall bc�.F�t ��
<br /> Trusfor's op�Un,e,thar p�omptly repard tv T�ustoi vr cruU�tad Iv Truslar ayainst lutura rr�onthiy�nsfaifmvn�s o!FunNs ll►hr amourrt al �cA�
<br /> the Cuads held Gy Henebcrary shall npE b�suNicit�nt fo pay taxtrs,��ssessmonis.rnsur�nce prern�ums E�nd yrvunU rnrrtr.rr.c tt�Uy 1ar�dua, �
<br /> rrustor sha11 pay to Banuhcinry cuzy umaunt nvicessary ro maJ��up lhc�defrc�errcy w��h�n Ihuty days/rvm 11rc�d<3to nnhcu�S nrruted by '
<br /> Bsnalu:r[�ry tcr Tru>tv�r�quastrnr�naynrarrtlha�Hi,l Upa►payment ue fuJl vI J/l Incio6tednElvs.Rc�nf�r�rr�ry shall p�ompll;r re;fraui ta •
<br /> 1ru5to►arty LunUs hU'd Gy Bonolicr.�ry Ifljur lu�sr�rU����r�,s sf��r�«�de�m��,owE����t;ale ar 1hn lrust l��o/?e�i{���:nlht�rw�SP,�< <1cm���1
<br /> Dy f3£�nUhC+nry, H('r�Ulreiary Sh�7N ilp��ly, �nnnOd�Gfvf}il�rrot In Iht3;alt;Uf(hU Irusf f����perty t»ds iec�ai�,s,f�nrr hy l�f•nnf�r�ci�V. .�n�!u��,�y
<br /> hald E)y L3�nfJ�iUflty ttt tltt�A�nF�Uf,�pplr�t�trutt 1�;J tlUtf�l li�;Q�nSf Illp leN1!!�lIU1IItdS; It l�Ont�h�u}ry r�rt�r i�fPt:d�ti��lf��n�v+.����,1 ;,ii�.��r�.
<br /> . nh!x/rtht/n;±�nnrr th,:fr,u�)ryr,lp¢r Q 1ruSfW r.r,ve?nr�rtt�.tinrl��qrr,�rti tn�,.��-. hnf��e fha<.,�nrn hFV��ri.r:/nl���r,�,a,�,� :�.�+,r•..�,. �,.�r...�.,������1�. �
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