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<br /> : � �
<br /> ( Deed of �'rust
<br /> eaNxs 90�-1025� 4
<br /> ��
<br /> � David L. & Chrietine A.
<br /> THlS'DEED OF TRUST is maa�e this.�Q day o� April , y9�,by and between Starastka. Nusband � Wif e
<br /> _and Denn� R. � Tanet T,�� Starostka. Huaband � Wife wheth r 4naarmara, {I►PIE�ft78RBRG$II@d�I!@"trusbr'�,
<br /> wi►ose m�+Nn��ddress is��10 Circle Drive. Vrand Island, Nebraska �8SQ1
<br /> NORWEST BANK l�iQ.S�],..Asaociation �Irelelna�'ter c 11a�t�s"Truste$'j tvlt�se ma+ling address/s
<br /> _�.0. Bax__1? � Grend Ieland, NE �8nd NOAWEST 8AN—�S BKB. Nat�ona Associafion ,(hereinafter
<br /> C�!/ed�1A'�6e/ZE�►Cldry').Wh0.49/fi81lil►g8ddl8SS1S—P-O. Rnx 17l,S� [=rend I�atand+ Nehrae�(�8.��__
<br /> WITNESSETH:
<br /> , IF THIS BUX IS CHECKED( )TH/S DEED OF TAUST CONSTITUTES A CONSTRUCTION
<br /> SECUR/TY AGREEMFNT UNDER THE NFBRASKA CONSTRUCTION[IEN ACT AND CREATES.
<br /> GRANTS AND CONSTITUTES A COMSTRUCTION SECUR/TY INTEREST IN THE PAOPERTY
<br /> � DESCRIBED HEREINBELOW. TWO l3UNDRED TWENTY THREE THOUSAND EIGHT HUNDRED
<br /> WMERE T�tls i debted to 8eneficiaryin the princlpel sum of SIXTY THREE AND 05/100 -----------------------.-
<br /> ' Qo�pars(t��3�a�•�� ),wh/ch indebtedness is evidenced by Tiustor's promissory note dated April 30 ,�g 9
<br /> ���..�., , (hereinafter
<br /> ).payable b the order ol B�neflciary and having a maturity of Atlguat 1 , _1991
<br /> , ; �VOW.TNERFFORE. ff�r the purpose o1 secLring: �
<br /> I (a) payment of the Note,fogether rvith inferest thereon, late chargas,prepayment penaltres,any Iuture advance�,and all extensrons.
<br /> moali/kttLior►s,substitutions and renewals theieol,
<br /> � �`�) payment of all other sums,fees a charges,rogeih.e�wiih interest therean,advanced io protect the security of thls Deed of Tiust and
<br /> ' tlfe pe►l�amance o/the covenants and agreements ol Tiusfor, svhether or nof set tortdr.herein.
<br /> � (c) peil�Ormance,discharge of and compliance with every term,covenant,obligation artd�agreement of Trustor contained herein or
<br /> i Incorporated by reference a any other sacurity instrument at anytime�iven to sec�re tAe Noie,and
<br /> � (d) the repaymgnt ot a!!other sums a future advances, with interest thereon, which may herefofore have been or he►ealter be advanced
<br /> ± by Beneficiary ro Tastor o�Trustor's successor in rnierest or lit/e,
<br /> � all of which is Aereinafter collecLively called the"Indebtedness", Trustor inevocabty granK and transfers to Trustee. in trust, W1TH POWEA
<br /> OF SALE,tAe f�lkwing described properry:
<br /> � LOTS ONE (1) � TWO (2), COLONIAL APARTMENTS SUBDIVISION IN THE CITY
<br /> , OF GRAND ISLAND, HALL COUNTY, NEBRASKA. �
<br /> � together with(i)all buildings,structures,additions,enlargements,madificafions,repaiis,replacements,and improvements now or herealter �•
<br /> ; locafed thereon, (ii)a1f equipment,machinery and fixtures(inclr�ding, without fimitation,all lighting,heating,ventilating,cooling,air �
<br /> ca�didoning,spdnkling and plumbing Bxtures, water and oower sysiems,enr�inAS,rxuJer.c,rAn�P9,oveRS, dlshsveshr+rs,mirrers�rsd mMntels, -
<br /> • carpedrrg,fum�ces.al bumers,e/evators and mofo�s,refrigeration plants a units,communiaation systems,dvnamos,bansfnrmers.ele�trical -
<br /> ..�_
<br /> -_ -- � Sy-wprr-rwrf,3iv�►:r nrrd screen windows,oioois, awtings art0 Shed@S)now or here8lter attached to,oi built in,any buflding or improvem8nt �
<br /> • now or hereaRer locafed thereon, (iil)a/l easements and rights o1 way appurlenant thereto, (iv),ali leaseho/d estate, right,tiUe and interest o! �;
<br /> • Trusia in and to all leases,whether now or hereafter existing or entered/nto(including,without Iimitatron,all cash and security deposits. '
<br />: advance renta/s and depQ.�ts or payments of a simflar nature),pertainrng thereto,(v)ap rents,issues,profits and In�oma the�elrom(subject ' �v
<br /> . to the dght o/Tiustw to collect and apply such renis,issues,prorts and income as they become due and payable so long as no event of 2-
<br /> defauA exists hereunder),(vi)a!!royafQes.mineral,oil and gas rights and profits, water, wate�rights,and water siockr(vii)ail tenements, i
<br /> ' heredrtamerr�privileges and appunercarrces belonging,used or en/oyed in cannectlon therewith,and(viii)all proc�eds of conversion,
<br /> ' voluntary or invduntary,of any of the foregoing Inro cash or liquidated c/aims(including,without limitation,proceeds cl insurance and
<br /> ; condemnation awards),aU of which is hereinafte,collectivety called the"Trusr Properry".
<br /> ' � TO PROTECT THE SECURITY OF TH1S DEED OF TRUST,TRUSTOR COVENANTS AND AGREES AS FOLLOWS: t
<br /> � 1. Title. Tiustor covenanfs,warrants and agrees with Beneticiary,its successors and assigns,ihat Trristor owns the Tiust Prope�fy iree f
<br /> fiom any pdor Ilsn or encumbrance,that thts Oeed of Trust is and wil!rem�in a valid and enfniceab/e first fien an the Trust Property,
<br /> that Trusfoi at lls expense,will presenre such title and wi/1 maintain this Deed of Trust as a first and paramount lien upon the Tiust �
<br /> , Property and wll/forever wairant and defend the validiry and prioriry of the lian hereof agalnst the claims oi alI persons anct Qa�ies
<br /> whomsoever. Trusior,ai its expense,will car�se ihis Deed o1 Trvsi, and each amendment or supa/er.�ent hereto,to be filed and ���
<br /> recorded as a morigage of the Trusi Properry/n such manner and in such place and wi/l take such acfion as in the opinion of Trustee '
<br /> ; may Ge required by any preseat or future law rn order to peAect,maintain and p�otect the lien of this Deed ol Trusf, es the same may �
<br /> be arrrended or supp/emented from time to time.Trusior will make such furthe�assurar�ce a assurances to Rerfect its tiHe to the Tiust �
<br /> Properiy as may L�e requi�ed by Beneficiary. Tiusior hereby relrnquishes a11 iight of dawe�and homestead in and to the Trust Properry.
<br /> ; 2. Paymeni o!IndeBiedness. Tiustor sha/l punctually pay the principal of and inte►est on the lndebtedness secu�ed iiereby.
<br /> 3. Construction of Improvements.Tiusfa shall complete in yood and workman/ike manner any bui/dings,improvements or repairs iela6ng
<br /> thereto which may be begun on ihe Tiust Property or contemplated by ihe/oan evidenced by the Note secured hereby,to pay when
<br /> due al!costs and liabilities incurred theiefore, and not to permit any consiruction lien against such Trust P�operty.ln the event
<br /> � conshuction of buildings,improvements or repairs are contemplated, Trustor also agrees,anything in this Deed ot Trust to ihe contrary
<br /> i nofwitl►standing;(a)to promptly commence any such work and to comp/ete the proposed improvements p�omptly, (b)to complete ihe
<br /> sar»s in aacordance w'rth the plans and spec;ficat�ons es approved by Beneficiary, (c:ta�orrrply with att ihe terms of a bullding►oan
<br /> agreement,i/any,beiween Trustor and BenefiCiary, the te�ms o1 whlch are incorporated herein by reference and made a part hereof.
<br /> fCj tv ain�✓Sanef."clary to inspect the Tiusf Property at a1i rimos ouring constiuction,and(e)to repiace any�vo�k or maierials
<br /> unsetislactory to Beneficiary within lilteen(15)days after written notice/rom Beneliciary of such/act.
<br /> 4. Funais lor Payment o/Charges.Subject to applicable!aw or fo a written waivei by Beneficiary, Trustor shAll pay to Benefir.iary on fhe
<br /> 6rst day of aach monih,or such other date esch mr,nth ss may be specilied by Beneficiary,until the Indebtedness is paid in ful1,a sum -__-_,-__-_
<br /> (heraina/ter ca!!ed the"Funds")equaJ fo 1i12th o1 the yearly taxes and assessments which may attam p�iority nver this Deed of Tiust
<br /> end ground►ents on the Trust PropeRy,if any,plus 1/12th of the Vearly p�emium installments far ha�a�d ins�„�nrg,p�1c ��»th n!�ha
<br /> y�ady premium installments for mortgaye insurance. �J any,al!as reasoneb/y estimated initial/y and/rom time to time by Benetrciary on
<br /> the basis a0 es.sessments and bil/s and reasonable estimafes thereof. The Funds shaU be held rn an�nstrFUtron, the deposits or
<br /> accounts ol whlch are irtsured or gusranteed by a federel or state agency including Bene/rciary.Benelic��ry sha/l apply the Funds to !
<br /> pay said taxes,assessments,insuisnce premiums and ground rents.Beneficiary shall not be reouired fo pay Trustvi any interest or
<br /> earnings an the Funds.BenefiClary shall give fo Tiusior,wlthout cha�ge,an annua!accountmg ol the Funds show�ng c�edrts and ��
<br /> L debits to the Fund•s and the pu�pase lor which each debit fo the Funds was made. The Funds a�e p/odged as�dd�tronal secunty fur �
<br /> the Jndebtedness seCUred by this Deed ol Trust. If the amount of the Funds held by Benelrc,ary,to,qether w�th the luture monthly
<br /> installmenlS of Funds payab!e prror to the due dates of taxes.assessments, insurance prem�ums and g�ound rents,shall exceed rhe �t
<br /> amount required to pay sard taxes,assessmonts.�nsurance p�om,ums anU ground rents as they fau due. such excess shal�be. at �
<br /> Tiustor's opfion,erther promptly repaid to Trustor or cred�ted ro Trustoi agarnst/utu�e month/y�nstal�ments vl Funds U tne amcun�of ��
<br /> the Funds he/d by BenoLc�ary sha11 not be suffic�ent to pay lax�s,assessments. �nsurance prem�ums and qr��und rents as thpy lair due. �
<br /> Trustor shalJ pay fo Beneficrary any aniounf necessary to mako up the dehr.,enc y wdh�n th�ny days ho�»rhe date notrce�s ma�ied by ' �
<br /> Ber�elrciary!o Trusto��et}uestrng paymenllhoreol Jpon payment m�u��nl�ru lnrfc�h�Pdnpcc, gg�s,l,�.��y g.hdr/jj•�Rip'i�,•rf`fur,t;fn yf
<br /> TruS�Ot�ny Funds hald by Bencl�c,ary. ll tho T.u�f Properiy,s so�n unaer�.nr�pvwer o�sar����nc' 1�t..!PrUpc�rt� �s utherw�ser.rc.qu�+F•�!
<br /> by Bene6aary. Benvf���ary shall apply.,nrmed�a�ely p��a to the:a�e ol tnE� ��u.ti►P.��r,er:y c,�,r< <�c qu, .,nu�� hy Hc•nrb.,,,r,, ,,,,� !ur�,7•.
<br /> hetd by Benel�c�ary at fho l�me vl appbcal�on,JS a r,redrl r���r n51 th,c� /»Ur�btt�dn�,,,�, l�(3t•��r',c ,+�, ��.��: ,.�r .r�;r ^r��n:,,,,� •r�' 1��:�!, •
<br /> oblrgat�ons untler th�s par�g�aph 4. Trusfv+cr,vCnt�nts anr!�ry�cf•s ��.n�a, h�•!,;�r•�r�e ��r�r���:�•, .��,. �. .., , ,,nl .r�r.��� •_ ,.•.� . , . , �
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