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l'.•,. wwn!/i~lrNMl~'zbw~art1Al12fa~u~eq~MINIM/r~llnl~'1q'M~M~iMw~IMfr/nlNnw~na; Yvi t rNtvmr f 0061RY 1r41gMFW71a1tlM M4I.MWAMPAMdIMMMRl.' f/rA"e A" MA f46t *memo"" 104070. Moll! %M- THI EL"D O T U~:T ode ~I:s _ t de to 18 . + " v ~f , a Mgr betttr ° 'f.11..7 vas c o a _ e _an T mann s # ei t i e a_iid 1 i. a wlretlter ale or wtwr+, 11weinaftr caNaid fha► "Trrr vr"), wPise mailing address is 1425. 0Ad ,AArrisn4. (;rani( NRWESTAh+f( Ne z; a, ~a t: r der c~Nsc! 8 r, ~ttje"). whC3~r ma~r►~, addrBSS Is vO, Box t7 rata _ Is n N and NOR1~ST BANK w~eb'=~r as. ~iation:al~~~sauciat3on flNsralrtalt~ called the "Benefrc:ary" whose mailb iT address is h rai Ire, 68802 WTFNESSETI-r. IF THIS BOX IS CHECKED j j TiIIS DEED OF TRUST casYSTf wES A CONST,-'t LICTtON SECURITY AGREEMENT UNDER TH?=.VL.BRASKA COMSTrgjCT1.1N' UEN ACT AMU CREATES, GRANTS AND CONSTITUTES A COM;TRUGT7ON SECUPiT'YtwERE'wT IN ME PROPERTY DESCRIBED HEREiNBE! OW WHEREAS, Trustor is indebted to Benefidary in the principal rum of ?'W _RMIUr~M THOUSAND AND HO/ 100 Dollars (S 2 nn Wll _ nn which indebtedness is evidanca d by DuStor's ,promissory note dated -JUL r 13 , 19-W. (hereinafter called the "Note"), payable to the order of 6'eneficiefy and ha;,: 7p a mahrrity cd Peb:,aaU 1,_L491 ~ NOW, THEREFORE, for the purpose of securing: T (a) payment of the Note, together wiO info; ,st thereon, late Charges, prepayment penalties, any future advances, and all exter#; . ins, modifications, substitutir+ns and renewals thereof, (b) payment of all other sums, fees or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and the performance of the covenants and agreements Of Trustor, whether of not set forth herein, (c) performance, discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein or incorporated by ndference or any other security instrument at anytime gnen to secure the ,Note, and t (d) the repa;.•rr;ent of ,all other sums or futureadvances, with interest thereon, which may heretofore have been or hereafter be ad.rf3nced by Beneficiary to rrustor or Trustor's successor in interest or title, i ? of which is here~inafte; collectively called the "indebtedness", Trustor irrevoc;jbly grants and transfers to Trustee, in trust, WITH POWER F SALE, the following described property: ti{'+ Lot Seven (7), in Block One (1) in Brentwood Subdivision, City of Grand Island, Hall County, Nebraska. Excepting a certain tract therefrom as recorded in the Quitclaim Peed recorded in the Hall County, Nebraska, Register of Deeds Office as Document No. 83-002103. together with (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter located thereon, (ii) all equipment, machinery and fixtures (including, without limitation, all lighting, heating, ventilating, cooling, air conditioning, sprinkling and plumbing fixtures, water and power systems, engin.,,m boilers, ranges, ovens, dishwashers, mirrors and mantels, carpeting, fLrrnaces, nil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical equipment, storm and screen windows,doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement now or herearter located thereon, (iii) all easements and rights of way appurtenant thc; lo, (iv), all leasehold estate, right, title and interest of Trustor in and to all leases, whether now or hereafter existing or enfgred into (including, without limitation, all cash and security deposits, advance rentals and deposits or payments of a similar nature), per"aining thereto, (y) aid rents, issues, profits and income therefrom (subject to the right of Trustor to coli,act and apply such rents, issues, prokfs and income as they become due and payable so long as no event of default ensfs hereunder), (vi) all royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, (vii) all tenements, hereditaments, privileges and appurtenances belonging, used or enjoyed i7 connectior therewith, and (viii) all proceeds of conversion, voluntary or involunfwy, of any .of the foregoing into cash or liquidated claims (including, without limitation, proceeds of insurance and condemr3tiorr awards), at, of which is hereinafter collectively called the "Trust Property". TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. Title. Trustor cdvene'nts, warrants and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property free from any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property, that Trustor, at its expanse, will preserve such title and will maintain this Deed of Trust as a first and paramount lien upon the Trust Property and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Trustor, at its exoense, will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and recorded as a mortgage of the Trust Property in such manner and in such place and will take such action as in the opinion of Trustee may be required by any present or future law in order to perfect, maintain and protect the lien of this Deed of Trust, as the same may be amended or supplemented from time to time. Trustor will make such further assurance or assurances to perfect its title to tho Trust Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower end homestead in and to the Trost Property. 2, Payment of Indebtedness. Trustor shall punctually pay the principal of and interest on the Indebtedness secured hereby. 3. Construction of improve nents. Trustor shall complete in good and workmanlike manner any buildings, improvements or repairs relating thereto which may be begun on the Trust Property or contemplated by the;loan evidenced by the Note secured hereby, to pay when due all costs and liabilities incurred therefore, and not to permit any construcaon lien against such Trust Property. in the event construction of buildings, improvements ,or repairs are contemplated, TaMor also agrees, anything In this Deed of Trust to the contrary notwithstanding; (a) to promptly commence any such work and to complete the proposed Improvements promptly, (b) to complete the same in accordance with the pians and specifications as approved by Beneficiary, (c) to comply with all the terms of a building loan agreement, if any, between Trustor and Berefic/ary, the terms of which are Incorporated herein by reference and made a part hereof, (d) to allow Beneficiary to inspect the Trust Property at s'1 times during construction, and (a) to replace any work or materials unsatisfactory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact. 4, Funds for Payment of Charges, Subject to applicable law or to a written waiver by Beneficiary, Trust(,- sh.0,: ; y to Benefiriary on the first day of each inonth, or such other (.'late each month as may be specified by Beneficiary, until the Indebtedness is paid in full, a surn (hereinafter called the "Funds") equal to 1112M of the yearly rexe.f and assessments which may attain priority over this Deed of Trust and ground rents on the Trust Property, it aly, plus 11 12th of the yearly premium installments for hazard insurance, plus 1112th of the yearly premium in--fa rrtents for mortgage insurance, i' any, all as reasonably estimated initially and from time to time by Beneficiary on the basis of assessments and bills and riasonab/e estimates thereof. The Funds shall be held in an institution, the deposits or accounts of which are insured or guaranteed by 6 federal or state agency including Beneficiary. Beneficiary shall apply the Funds to pay said taxes, assrtssm©nts, insurance premiums and groundrents. Beneficiary shall not be required to pay Trustor any interest or .ramings on the Funds. Beneficiary shelf give to Trustor, without charga, an annual accounting of the Funds showing credits and debits to the Funds and t le purpose for which ench debit to the Funds was made. The Funds are pledged as additional security for Lhe Indebtedness secured by this Deed ,1 Trust. I! the amount of the Funds held by Beneficiary, together with the future monthly installments of Funds payable prior to the due dares of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessrents, insurance premiums and ground rents as they fall due, such excess shall be, at T,vstor's option, either promptly repaid to Trustor or credited to Tnts!nr against future monthly installments of Funds, if the amount of they u=unds held by Beneficiary shat: not be sufficient to pay taxes, rassessments, insurance premiums and ground rents as they fall duo. Trustor shall pay to Seneficiary any amount necessary to make up the deficiency within thirty days from the Mete notice is mailed by Beset Clary to Trustor requesting payment Merest Upon payment in fit! of all tndentcdness. Beneficiary shall promptly refund to Trustor any Funds held by Ganeficiarr. If the Trust Property is sold under the power of sale or the Trust Property is otherAISO acquired by Perwhciary, l oneficiar-y si)all apply, immediately prior to the sale of the Trust Property or its acquisition by F..eneficiar],, any Funds hp'cY by OenuRc .-jry at the time of anpfica,iro as a credit agairst the Indebtedness. If Beneficiary executes a written waiver of Tn;stor's n} rirrr,'i r; ; ianc7er it e7 p rragrr/,•h 4„ 7rus;or ccvenanrs and agrees to pay, before the same become delinquent, alt taxes. rssessments. t?