|
_?� � . ...��—�..._...� :.�:�.: �_. .�...._-...--._---."__._._..�:i'rli.il4..�...._._...�--......�
<br /> �
<br /> _� � �
<br /> ` Deed of Trust
<br /> � enNns 9�- 102 5 0 9
<br /> � TN�S OCED OF TRU.ST ls made thls 1 day of t�lav , t9 9p ,by and between Da�•id L. Laraon an�_,
<br /> Ca t,h�.rfne M. Laxapn. Huehand � Wif e whether one or mt�re,(hereinafier calied tAe "T�ustoi),
<br /> whose mailr'rtg address!s 42� L.inden Avenu,�, �r.��I�lfind, Nebraeka___5fl$Q1,,.,..__ ,
<br /> NOAWESTRANK...rlr.hraska. NAL�f1I�c1�—A4anelatinn — (h@f@!/1an91Ca118dfh@"Trustee'1. whosernailingaddressis
<br /> ,$,� Bou ]J�B, r=ra�� Is1an�,R N�,And NORWESTBANK Nebraska. Hatiflna7 AQ4oc�atfon , (hsreinatter
<br /> CBNedthe"BenetiCiBr'p'),whosemeilinggdd/essls p-�_ Rox 176�o Grand I�land� _NehraA A 6A802 _ __.
<br /> WITNESSFTH:
<br /> . !F THIS BOX IS CHECKEO f X J THIS DEEO OF TRUST CONSTlTUTES A CONSTAUCTION
<br /> SECUAIIY AOREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES,
<br /> � ORANTS AND CONSTITUTES A CONSTRUCTION SECl/RITY INTEREST fN TH�PROPERTY
<br /> • O�'SCRIB�D HEREINBE�OW.
<br /> WHEREAS Tiustorls indebied to Beneficlary in the p�incipal sum of��T13�LiS�xn Ar??� ND/100 -------------------
<br /> � p���s 6b,000.00 �, whJch�ndebtedness!s evidenced by Tiustor's promissory note daied MaX. 1 , 19 2�,(hereinalter
<br /> ' ca0ed the"Note').payable to the wder o/Beneficiary and having a maturiry o1 November 1 , 1990 _ ,
<br /> NOW. THEREFORE,for the purpose of secudng:
<br /> (a) payment of the Nofe,together with i,nferest thereon,late charges,prepayment penalties,any luture advances, and a►1 extensions.
<br /> modificallons,substitutlans end renewafs the�eof,
<br /> ' (b) payment af atl other sums.fees or charges,fogether with inierest thereon,advanced to protect the securiry of this�ieed of Trast a►rd
<br /> th�perMrmance of the covenants and agreemenfs o1 Tiustor,tvheihe►or not set forth hereln,
<br /> (c) peibrmance,dlscharge pf and comp/iance with every term,covenant,obligadon an�l ag�eement o1 Trusro�conta�ne�herein or
<br /> � incaporeted by reference or any other security instrument at anytime given to secure the Nofe,and .
<br /> , (d) the►epayment o�all other sums or futu�e advances,wiihlnterest thereon, which may heretofore have been or here�`er be advanced
<br /> � by BeneNciary to Trustor or Trusiors successor in interest or dUe,
<br /> ' all of which is hereinafter coHectively called the"Indebtedness", Trustor i�revocabfy grants and hansfers to Tiustee,in trrtst W1TH POWER
<br /> OF SALE,ihe lollowing described properry:
<br /> � LOT FIVE (5) , IN BLOCK THREE (3), OLDE MILL SUBDIVISION IN THE
<br /> ' CITY OF GRA,ND ISLAND, HALL COUNTY, N�HRASKA. �
<br /> togeihar with(1)all buildings,structures,additions,enlargements,modification5,repairs,replacements,and improvements now or herea/ter �
<br /> � lxated thereon, (il)ail equlpmenL machinery and fixtures(including,wiihout IimiFation,a/l lightrng,heafing, vent�lating,caolrng,alr �
<br /> condidoning,sprinkiing and plumbing fixtures,water and power systems,engines,boilers,ranges,ovens, dishwashers,mirrors and mantels, �
<br /> �A��Hnn,fr.�rRa�A.s,Oil h„mers, Alevators and motors,refiigeration p/artts or units.communication systems,dynamos,transformers,electrical _
<br /> equipment.storm and sc►een windows.docrrs,awnings and shades)now or he�eafter aRached fo,or buUt in,any building or improvemenr
<br /> ' � no►v or he�eaher located thereon,rii)all easements and rights of way appu�tenant ihereto,�v),all Ieaseho/d estate,right,fitle and interest of
<br /> ` Trustor in and to all feases,whefher now or herealie►existing or entered into(irtcluding, without limitation, aIl cash and security deposits, '=
<br /> ; advance�entafs and depasits o�payments o!a similar nature),penaining thereto, (v)all rents,issues,profets and income therefrom(subject —
<br /> ' ro the righi of Trustor to coHect and appty such rents,issues,p►ofits and income es they become due and payab/e so long as no event of
<br /> delauft exisfs hereunder),(vi)a/l royakies,mineral,oil and gas rights and profits, wafer, watei rights,and water stock,(vii)a!I tenements, ��
<br /> hereditaments,privileges and appuRenances be/onging,used or enjoyed in connection the�ewith,and(viii)at!prxeeds o�converslon, .
<br /> vo/uniary or involuntary. of any of the foregoing into cas�or liquidated claims(inctuding, without limitaiion,proceeds of rnsurance and —
<br /> condemnation awards), alf of whlch is herein8/ter collec�vely called the"Tiust Property".
<br /> TO PROTECT THE SECURI7Y OF TH1S DEED Of TAUST, tRUSTOR COVENANTS AND AGREES AS FOLLOWS: t
<br /> 1. Trtle.Trusfor covenants,warrents and agrees with 8eneticiary,its successors and assigns, that Trustor owns the Tiust Properry free �
<br /> f.�om any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable lirst lien on the Tiust Praperty,
<br /> � that Trusior,at its expense,will preserve such Ut/e and will maintain this Deed of Trust as a rrst and paramount lien upon the Trust
<br /> • Property and will foreve►wanant and defend the validity and priority of the lien hereof against the c/aims ol al!persons and parties
<br /> whomsoever_ Trustor,af its expense, will cause this Deed of 1�rusf, and each amendmenf or supplemeni he�eto,to be/ilad and .:�
<br /> recorded as a mongage of the Tiust Properry in such manner and in such place and wit!fake such action as in the opinion of Tiustee �'i
<br /> may be requi�ed by any present or future/aw in orde�to perfeci,maintain and protect the lien of this Deed of Trusf,as ihe same may
<br /> be amended or supp/emented from time to time. Trustor wili make such lurther assurartce or assurances fo perfect its title to the Trust
<br /> Property as may be requiied by Beneficiary. Tiustor hereby relinquishes at1 aghi of dower and homestead in and to the Tiust P�operty.
<br /> 2. Payment ot lndebfedness.Trustor shall punctualJy pay the prirrcipal o/a►rd inierest on the Indabfedness secured he�eby.
<br /> 3. Construcbon of fmprovements. Tiustor shall complete in good and workmanlike manner arsy buildings,improvements or repairs relaLing
<br /> thereto which may be begun on the Tiust Property or confem�slated by the loan evidenced by the Note secured hereby.to pay when
<br /> due ali Cosis and/iabilities inCVried therefore,and not to pe�mit any construction lien against such Trusi Properry. /n the event
<br /> construciion ol buildings, improvements o�repairs are coniemplafed,Tiustor also agrees,anyihing;n this Deed of Trusi to the contrary
<br />_ rtotwithstanding;{a)to piompt/y commence any such work and to complete the proposed improvements prompUy.(b)to complete the
<br /> . same in accordance with the pfans and specifications as approved by Beneliciary,(c)to comp/y with al!the terms o/a building loan
<br /> agreeracnt,it any,batweea Trusior and Seneticiary,the terrrrs of Yshfch are incorporated herein by relerence and Fnade a pa�r hereof,
<br /> (d)to allow Beneficiary to inspeci the Trust Propeny at aH times during construction,and(e)to replace any wo�k o�materials
<br /> unsatrafac.ory to Benef�ci�.r,r r:ithtn.*if:een;15;�ay���tsr i�r.'r�:s n�fias lrom Ss�eficiary of suci�fac�.
<br /> 4. Funds for Payment af�harges.Subject to apptcable!aw or to a w�itten waJver by Beneficiary, Trr�srorshall pay ro Benefiaiary on the
<br /> li�st day of each monfh,or such other date each month as may be specilied by Bene/icrary,until the�rtdebtedness is paid in full, a sum
<br /> (hereirtaRe�called ihe"Funds')equal to 1�12ih of the yearty taxes and assessmenis wh�^h may anain p�ionty over this Deed o1 Trust ,-_—_----__
<br /> and ground rents on the Tiust Prope�ty,if any,pius 7�12th of the yeady premium instai;,r.�r;s for hazard insurance.plus 1 i 12th of the .
<br /> yearly premlum insta�lments/nr mortgage insurance, rf any,ali as reasonably estimated in�halty and from time to t�me by Beneficiary on
<br /> the basis ot assessr-e�:ts and bills and reascr.able estimates thereof.The Funds sharl be he�d�n�n�zstrtunon, the depusits�r
<br /> aCCOUnis of whrch ar2 insured or guaraniesd by%a lede�ai or sfate agency includ�ng Beneficiary. Benefic�ary shall apply the Funds to
<br /> pay said taxes,assessments,lnsurance premiums and ground rents.Benefrcia�y sha/l nof be requr�ed to pay Trustor any�nterest or �
<br /> earnings on fhe Funds. Beneficiary shall give to Trusier,wiihaut charga.an annual accountrng ol the Funds showir.g cred�ts and �
<br /> debits to the Funds and the purpose to�which each debit to the Funds w�s made. The Funds are pledged as add�t�ana!secur�ry for q}
<br /> � the lndebtedness secured by ihis Qeed ol Trust. 1/the amounf of the Funds held by Benef�ciary, ►ogether vi�th the future monthly ��
<br /> installments of F�nds payabie prior to the due dates of taxes,assessments. msurar�ce prem�ums and ground�e�its,shall exceed the
<br /> amounf required to pay said faxes,assessments,insu�ance premiums and g�ound�ents as thoy faJ/due.such excess shall be,at d
<br /> Trustor's option,either promptly rgpaid to Trustor or credited to Trustor agarnst luture monthly mstalfinents of Funds !f the amount ol n
<br /> the Funds hold by Bene(�ciary shall not be suff�cient ro pay�axes. assessmants.�nsu�ance p�em,urns and g�ound rents as they lal�due. �
<br /> �
<br /> Trustor shall pey fo Benefic�ary any arnount necessary to make up tho delraency w+th�n th�rty days �rom the date nobCe�s marled by -�
<br /> Benalicrary to 7�ustor requesting paym�nt thereof.Upon payment,n lu�!o►all Indebtedness. Etenel,r.�ary snan��ar,�Ary reluntl fu
<br /> � Trustor any Funds hP./d by BAnA6C.�ary H lhP Tiust Prnperty�s snld under the po�ver ol salc or the Trus!Prunr v :�.c niherw•�se ��cne���ed
<br /> ,o nN, r., ., . �,.,� , t
<br /> by�@nBl.�ciary,F3enEliaan, „hall aFp/y.:mm..,..:,,lC•� r�.':Ot.��h„,a�e�•th8 7�uS;Prnprriy c�r •i�,t�U.nti:I,U��1•Y rSf�nF�(�C��ry.8I7� huntly
<br /> heid by Benel�c�ary at the t,me o�appl�cabor:as a cred��a_qa�nst tj+e lndebtecu�ess J!f3L'��!'��Cid����+E:���!�•�i .V��f!t���;t,f:���'i�' T��, Jt:��.
<br /> obhgatrons under th,s p�ragraph 4. 7rustor covenants and agreeS f!`pfty !;c?�ur��th(�,,q�r.f :��:.�rnr ilr��,n.�:.fr' ' .+: •,i.c '. ����.+ �tirr���nl�.
<br /> . .. 4�. .. ,.. , �
<br /> .._ .. . , _ . .. .__.._ . .. .- —� - _.— ._... . - -- _ _____ ___ _.. ._,._.— . — .. ._ ._—
<br /> __— —
<br /> __ -t?, �,,,,�_xv. �"�� . - ..
<br /> _.�. . ..� � 'G .i .
<br /> : .� ... .. . ' '_
<br /> R}[R"" •�i
<br /> � , . . 1 . . " :. . . ..�. . , y...:Y., t.. . f(t�'4 CM'K��„ _
<br /> '' •�• -. . " . . S –��A ."l —
<br /> � �
<br /> , ' '- G7 ... . Jt' c. . �y . . .
<br /> �' � �
<br /> . .. +.., . � �
<br /> t
<br /> C. `� �r,r}, � � 4 �l�� . , . � , . y
<br /> . � -5. " �. N...`'c� � �;hbEr;.},� � .i.."�r'.� �. .��.�� ...-.....I , ...:�`k��,., ' � � c..'C" .._._..
<br />
|