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<br /> � Deed of Trust
<br /> BANKS
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<br /> � THlS DEEO Of TAUST is made this_..R�h day of Me�, 19�.,by end baiween IIuns�ld L. Shuda and �
<br /> Judy M. Shud�. Hue�SAf�.�IIL� YI3f.£.�. _whether one ar more,(here/nafter GaFisd 1Aa"Tiusror"1,
<br /> wl�ss maiNng address is�t. i, AoY i p4 n, r.ai rn�1aF F,AR9G_ �
<br /> N4AWESTBANK �RRAG�fR� AtATjt1TSAT. ACCtit:TA'i'T(�� (herelrtaftercattedthe"Trustee").whosemalling�dd�ss rs
<br /> PO �1r►�r 1 7F,A ��j�, NE GS$QZ ,aAd NORWEST BANK—NERRASKd� NA�,TONAT. ASS(�C?ATTnRt ,(h@!@iI18KBI
<br /> CaNAd thA"BMNlIiCtAl�'), WhpSBIl7lNli►!s�pl((/gSS/S_—PA A x 17f�A� rranri T�a 7 anr)�NF (�R[19 ,
<br /> , WiTNFSSETM.•
<br /> IF THIS BOX!S CHECKED/ ]TH1S OEEO OP TRUST COIYSTITUTES A CONSTRUCTlON
<br /> SECUA/7Y AGREEMENT UNDER THE NEBRASKA COMSTRUCTlON LIEN ACT AND CREATES,
<br /> GRANrS AND C01Y3TfTUTES A CONSTAUCTION SECURITY INTEREST IN THF PROPERTV
<br /> DESCAIBED HEAE/NBELOW.
<br /> WHEAEAS.Tiusbr 1s indebted to Beneficlary in the princlpal sum of�ent; Sis Tho �sand isi n Hundra� ,gnd n�/1 g�—_
<br /> Dp1►eus(�26,900_0� �,whlch indebtedrtess is evirlerrced by Trustor's promissory note dated-1�� 8 19.9.0_. (hereinafter
<br /> calkd the"Note"),payable t�v tlre ader of Benefic+ary and having a maturiry ol Ma3r.,� ,_1g 5,._, � .
<br /> NOW. THEREFORE,f�a the purpose ofsecuring:
<br /> ' (a) paymenf ot the Nofe.tageiher with lnteresi thereon, late charges,prepayment penames,any future advances,and ap extenslons.
<br /> moditcatrons, sabs�tu�nrrs and�enawals thereof,
<br /> (b) payment of aII other srlm�s,lees or charges,rogedrei with Inte�est thereon,advanced to protect the securiry of this Deed of Trusi and
<br /> the perfonnance of the e�venants and agreements ot 7rusror,whether or not set tonh herein,
<br /> (c) perfamance, discharge of and compJianae with every term,covenant,obligadon and agreement ot Trustor contained herein or
<br /> , lncorpaated by relerence or any dtl'r�r securlty inst�ument at anytlme g;ven fo secure the Atote,and
<br /> (d) the repayment ot al►ofher Sums w future advanaes, with i�feresf the�eon, whlch may heretofore have been or hereafter be advartced
<br /> by Benelkiary to Trusror ac Tiusior's successor in tnterest or title,
<br /> all ot whlch is AereinaRer colfec�vely called the"Indebiedness",Trusio�iirevocabty gisnis and transfers to Trustee,in trusL WITH POWER
<br /> Of SALE,the lollowing described prope►1y:
<br /> See Attact►ed fixhibit 'A• �
<br /> together with(i)a!I bulldings,structures,addidons,enla�gements,modifications,repaiis,ieptacements,and improvemer.;s now ar hereafter
<br /> : located thereon,(11)all equipment,machinery and�xturos(incfuding, without limitation,all lighting,heating, ventilating,caolrng,air '
<br /> . condidoning,spNnk►ing and p/umbing 6xtures,water and power systems,englnes,boi►e�s,ranges,overts,dlshwashers,mmas and mantels. _
<br /> carpeNng,fumaces. dl bumers,elevebrs and motors,refrigeration plants w units.communication systems,dynamos,transformers,e/e�tncal _
<br /> - - equipmem,stwm end scraen wmoows.000rs,awnings and snades)now or hereafter attached ta.or built In,any buflding or improvemeni .
<br /> now or hereafter located thereon,(iJi)all easements and rights of way a�opurtenanf thereto,(iv),all lesseho/d estate,right,dtle and interest of =
<br /> Trusta in and to al!/esses, whether now or hereafter exlsdng oi enieied into(including, withaut limitation,al!cash and securiry deposits, , _
<br /> advance rentals end depasits or payments of a similar nature),pertairting therefo. (v)a!i rents,issves,pro�ts snd income fherefrom(sutr,�ect - _.
<br /> ro thw dght of Trusbr to collect and app/y such rents.issues,profits and income as ihey become due and paysble so/ong as no everF ci �
<br /> deleulf exists hereunder).(vi)a�C royalties,mineral,oil a►td gas rights and prof'ns, water, water rights,and wafer stock,(vii)aJl tenements, ��
<br /> hereditements,privileges and appurlenaerces belonging,used o�enJoyed in connec6on therewith,and(viii)all proceeds of converslon, •
<br /> volvntary or Invduntary,of any of the foregai�g Inio cash o�Irquidated ciaims(inc/uding. wiihaut limitation,pioceeds o1�nsu�ance and -_
<br /> condemnation awarals),all of which is herein8fte�coliectively called the"Tiust PropeRy".
<br /> TO PROTECT THE SE�URlTY OF THlS D�EQ OF TRUST,TRUSTOR COVENANTS AND AGREES AS FOLLOWS: �
<br /> , 1. Titfe, Tiusror covenaret�,.war�aats and agrees with Beneficiary,its successcrs and assigns, that Trusfor owns the Tiust Property tree t ;
<br /> from any prior lien or encumbrance,that ihis Deed of Tiust is and wil!remain a valid and enforceabfe first lien on the Trusi Property, j. ��
<br /> tl�at Titrstoe,at its expense,wlU preserve such title and will maintain this Deed of trust as a first and paramount liea upon the Tiust
<br /> Property and will forever wanant and defend ihe validity and priority of the lien here�of againsf the cJa�ms of a/l persons and panies
<br /> whomseever. Tiustor.af Jts expense, wiil cause thJs Deed o1 Trust and esch smendment or supp/emenf he�eto,to be filed and �'�
<br /> reco�ded as a mor[qage of the Trust Property in such manne�and in such place and will take such action as in the opl»ion of Trustee ' "s
<br /> may be required by any present or futu�e law in ade�to per�ect,maintain and protect the lisn o!this Deed of Trust,as the same may
<br /> be amended or supp/emented from trme fo time. Trusior wiil make such further assurance or assu�ances to perJect its title to the Tiust
<br /> . Property as may be requlred by Beneficiary. Trusior hereby relinquishes all�ight of dower and homestead in and to the Trust Pioperty_
<br /> 2. Payment of Jndebiedness. Trustar shall punctually pay the principa/of and interest on the Indebtedness secured hereby.
<br /> 3. ConsWction of lmprovements. Trustor shall complefe in good and workmanlake manner any buildings,improvements or repairs►elating
<br /> therefo whlch may be hegun on the 7rusf Property or contemptated by the foan evidenced by ihe Note seCUred hereby,to pay when
<br /> due a/l casts and liabilfies incunod therefore,and not to permit any construction lien against such Tiust Property.ln the event
<br /> , consfiucfion o/buildings,improvements or repairs are contemplated, Trusior also agrees,anything in this Deed of Tiust to the cont�ary
<br /> , ' notwifhstandin�;(a)to prompfly commence any such work and to complete ihe proposed improvements p�ompUy, (b)to complete the
<br /> . same!n accordance with the plans and specifica�ons as approved 6y BQr�ef;ciary, (c)fo comply uvlih aU fhs tem�s ot a buildirrg/oan
<br /> agreemeni,if any,be[u•8en Trusior and Beneficia�V, the ferms of which are rncorpo�ated herein 6y relerence and made a pan hereof,
<br /> (d)to allow Bene/iciary to inspeci the Trust Pro{serty at all times during construcUon,and(e)to repface any work or materials
<br /> unsafisfeciory fo Beneliciary within Bfteen(15)days afier written notice lrom Beneficrar�of such�act.
<br /> 4. Funds for Payment of Charges. S�bJeci to applicab/e law or to a w�itten waiver by Benef,ciary. Trusior shall pay to 6enefir.iary on the
<br /> flrst day of each month,or suCh othet date each month as may be specilied by Beneficiary, until the/ndebiedness is paid in fuf;a sum
<br /> (herelnafter called the"F�nds")equal to 1i12th of the yearty taxes and assessmenis which may attairr priority over this Deed cf Trust :�- - - -
<br /> and ground rents an ine Trust Properiy,if any,plus i i i2tir of the year'ry prerr.�um insiailmenis for'rrazard insurance,plus i%IZffr c�l tire
<br /> yearly premium insts/Imenis for mongage inswance, if any,al!as reasonab/y estimated initialJy and fiom time to time by Beneflciary on
<br /> the basis o1 essessments and bi�ls and ressonable estimates thereof. The Funds shall be hetd in an institut�on, the deposits or
<br /> accounts of wi►ich are insured or gusranteed by a/edera!or state agency including Beneficrary.Benefic�ary shall apply the Funds to
<br /> pay s8id taxes.assessments,insurance premiums and ground rents. Beneficiary shall not be requ�red fo pay Tiustor any interest or
<br /> earnings ort the Funds.Benefi�iary shaq give to Trusloi,wlthout charge, an annual accounting o/the Funds showing credits and �
<br /> debits to the Funds and the pu�pose lor which each debit to the Funds was made. The Funds are pledged as add�t�onal secwity for a!
<br /> L the Indebtedness se�cured by this Deed of Trust.Il the amount of the Funds held by Beneflc�ary.together with the luture monthly �
<br /> instailments of Fuads payable prior to ihe due dates ot rexes,assessmenis. �nsurance premiums and ground rents. sha!!excead the �
<br /> amount required to pay said taxes,assessmenfs,insuranco premrums and ground rents as they lall due,such oxcess sha/l be,at h
<br /> Trustor's option.eithe�promptly repeid to Trustar.or ciedited to Trusto�aga�nst luture monthly mstallments of Funds. !0 the amount ol
<br /> the Funds hald by Beneliciary shalf nat be suff�cient to pay taxes,assessmenls,insurance prem�ums and ground rents as fhey fail due, t�[!
<br /> Trustor shall pay to Beneficiary any amount necessery to make up the def�crency w,thm th❑ty days lrom the date not�ce�s marled by �
<br /> Benefic�ary co Tiustor request�ng paymant thereol. Upon paymont rn�ull ol a!1/ndebfednecs. Rene.`+c�ary shau promptly relu�d to -
<br /> Trustor any Funds held by�eneliciary Il the Trust Praperty�s sold unUe��he power o�sale�r fne Trust Properiy�s othenv�se acqw�ed
<br /> by BBnbGc�ary. Benef�C�ary shall app/y,imrnedrately pnor to lhe sa/e�01 the Trust Property ar �ts acqu�smon b y Benehc�ary, any Funds
<br /> held by Benofrciary at the hme ot app��cat�on as a cred�t agarnst the lndebtedness Il Bene��c�ary e�ecutes a W��It�n WdNE?� O�TIIISfb�5
<br /> obtlgations under th,s paragraph 4. Trustor covenants and aqrdes�o pay helore!ne same bPCnmr�%te'mryu�nr <,��taxc�s ,i�sessmc•nts
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