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<br />Deed of Trust
<br />"K'
<br />89-101761
<br />THIS DEED OF TRUST is made this 3rd day of April . 19.P—, by and between David L_ Larson and ,
<br />whether one or more, (hereinafter called the -Trustor"),
<br />whaaamaifinn address ra 421 T. tetT?pn AvE±miea Gr nil Taland NPhZaQlsaa, 69901
<br />NORWEST BANK NEARASRAAAgLt1FrL ASSSOC: T- ATI:QN (hereinafter called the "Trustee'), whose rnalling address is
<br />PX.Ba- IZ68, Grand Island. HE acrd NO,� WESTBAN . (herelnaf[er
<br />calfedtfze "Beneficiary ). whosemailingadatess LgR. QL Box 1768, 0muL island. Kefsraska 68802
<br />WITNESSETH:
<br />IF THIS BOX IS; 6HECKED ! X ) THIS PW.,:aF TRUsr ',vSTi.T uT-r5S A CONSTRUCT 104 : t `:. '•
<br />SWWRiTY AM E MENT UNDER THE NEtWASKA EtEN ACT AND CREATESt`
<br />GWWOrS AN6 CONSTITUTES A CONSTRUCTION $ENJf. 7Y INTEREST IN THE PROPERTY
<br />fui '741BED HEREINBELOW.
<br />• � >«:tEf�tlr"AS, TrustGi s "indebted to 8eneficiarr•.;» the principal surn of `
<br />Dotla(s �$ , 21, 065 _ 76 ), which indebtedrn s is evidenced by Trustors promis`ary note dated ,19$2._; (fterelnatLr
<br />• • . • called the "Note' ), payable to the order of He!s��cfary and having a maturity. of O ci:aber 2 � „I 98 ' •. • .
<br />: N04Y, THEREFO��;.or the purpose of Srx�•rssrh .
<br />(a) payment of �ffQ .dote, togethyr with inf" thereon, late charges, prepayment penalties, arri• f�,�+�: a advances. and atd c�xfi��csrs; : " ,
<br />mcd t%catiar substitutions a ^d renewals thereof,
<br />(b) * other sums, ?ems; orcharges,, togeffnic-44t interest thereon, ads .to protectthe seccvif,�r .!his Deed of trustarid':: ;" =
<br />t`Y3Abar 7rr ;,s of the covenants and ag, aetrrer. r 7-rn Dr, whether or hof .for ~h herein,
<br />C eifiotman , +c S «liar a of and tom lidnJ •ivith eves ?Pt:` : cl a4- 3Y , r r' + �' t� j�ti j 7
<br />() p g p �' Vii. obligation and agrcerrt . of Trus.ur ,, �. e V er r. ai't or
<br />into oratv:� i i af81 @nCe or en ocher. Leo rnstzs�^?nt a' ` t0 S @CU:e the Nlif> .f ;•d
<br />rp >�i1, y,7ty "
<br />(d) the repaymer^lla'1 �R % &M-s or k4*= ": ances; which may heretorr p ;eve been or hereafr. ltd,sdvaricad,
<br />by Beneficiary fi.:rsro;::ar l25f��'sz essorrrc �iria*�I;: �i'N1r,
<br />all GFwfinzy 'here'. rya''FOB'tl3ist9aalh �1. +1'Itn ` 1 -i r �r Jfsr�i, ' ` r��tcr irmvocabl ,� err I r. �.T =.'in fix i(�tm ;l?I t;,�
<br />r y r..nra. d rrd7ra r, ► '� s1;: �}. . .
<br />OF SALT =; it�r is /iai` it rrt::�i�r,ny:
<br />Lot ihb ee (31' Reg) -6c7 °Sj7lz6 &re :n 'Subdivision- lit. elie:,.:ity'of rni .Teland, Hai "L "
<br />County, Nebraska, e=epting a certain tract deeded to Margaret B. McGrath in
<br />Quitclaim Deed recorded as Document No. 88- 103766.
<br />A
<br />together with (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter
<br />located thereon, (ii) all equipment, machinery and fixtures (including, without limitation, all lighting, heating, ventilating, cooling, air
<br />conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels,
<br />carpeting, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical
<br />equipment, storm and screen windows,doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement
<br />now or hereafter located thereon, (iii) all easements and rights of way appurtenant thereto, (iv), all leasehold estate, light, title and interest of
<br />Trustor in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits,
<br />advance rentals and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject
<br />to the fight of Trustor to collect and apply such rents, issues, profits and income as they become due and payabla so long as no event of
<br />default exists hereunder), (vi) all royalties, mineral, oil and gas rights anti profits, water, water rights, and water stock, (vii) all tenements,
<br />hereditaments, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including, without limitation, proceeds of fnsur'arne azd
<br />condemnation awards), all of which is hereinafter collectively called the "Trust Property".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br />1. Title. Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property free
<br />from any prior ten or encumbrance, that this Deed of Trust is and will remain a valid and erfPcneable .'first lien on the Trust Property,
<br />that Trustor, at Its expense, will preserve such title and will maintain M's Deed of Trust as a &V bird paramount lien upon the Trust
<br />Property and wi;l forever warrant and defend the validity and pnoriy of the lie? h &feof against the claims of all persons and parties
<br />whomsoever. Trustor, at Its expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and
<br />recorded as a mortgage of the Trust Property in such manner and rn such place and will take such action as in the opinion of Trustee
<br />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
<br />be amended c -r supplemented from time to time. Trustor will rate such further assurance or assurances to perfect its title to the Trust
<br />Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property.
<br />2. payment of Indebtedness Trustor shall punctually,t•ay the principal of and interest on the Indebtedness secured hereby.
<br />3. Construction of Improvemerns. Trustor shall complete in good and workmanlike manner any buildings, improvements or repairs relating
<br />thereto which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when
<br />due all costs and liabilities incurred therefore, and not to permit any construction lien against such Trust Property. In the event
<br />construction of buildings, improvements or repairs are contemplated, Trustor also agrees, anything in this Deed of Trust to the contrary
<br />notwithstanding: (a) to promptly commence any such work and to complete the proposed Improvements promptly, (b) to complete the
<br />same in accordance with the plans and specifications as approved by Beneficiary, (c) to comply with all the terms of a building loan
<br />agreement, it any, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a part hereof,
<br />(d) to allow Beneficiary to inspect the Trust Property at all times during construction, and (e) to replace any work or materials
<br />unsatisfactory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact.
<br />4. Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustur shall pay to Benefiriary on the
<br />first day o1 each month, or wch other date each montt as may be specified by Beneficiary, until the Indebtedness is paid in full, a sum
<br />(hereinafter called the ''Far. ;s ") equal to I/ 121h of 9' 91 ✓sally taxes and assessments which may attain pnonty over this Deed of Trust
<br />and ground rents on the 7fust Property, if any, plus 7, 12th of the yearly premium installments for hazard insurance, A-Jus t! 12th of the
<br />yearly prem,urn installments for mortgage insurance. it any, all as reasonably estimated iatz`ly and from time to time by Beneficiary on
<br />the basis of assessments a C bills and reasonable estimates thereof, The Funds shall be herd in an institution, the deposits or p
<br />accounts of which are insum,4 or guaranteed by a federal or state agency inch ing BeWic1 ;r. Beneficiary shall apply ! "s Funds r,-
<br />,rani Bald taxes, assessrne�7';. ;rzsur'anca prelitiunrs iii v + ground rents. SeneNz;iaryshall nc` be'rec aired -y psy Trustor amI i^sm n tar
<br />s�arrlings on the Funds. Bs- fe�,i.iary shall give to Teas2:e. without -- large, an annuai'accourling of the F ;ndss showing credis er;
<br />c)ebils to the, Funds and the p7 rposo for which eat' debit to the Ftae -,da was made. The Furl ds are pledgad as add,tro! wi s9� r ^ty ,.
<br />the lnd9bM14.S6SS secured by this Deed of Trust. It thg amount of Veto, Funds held by Beneficiary, togethe, rti':'h the fu: ;re r'rnthly
<br />#7z; :7m&rt -'d .7i Funds payable prior to the due daps of taxes, assessments, insurance premiums and g -5..a-.d rents. shat) exceed r`ae
<br />afr'Jum, ia,7zI ad to pay sa :d idires, assessments, ,7s:lance premiums and ground rents as the y fall N;nt: ;. •,h excess shall be, a'
<br />r-,% tor's option, '7z.".hef pins• rvy repaid to Truster svr ;redited to Trustor against future monthli( ms.a:'!- &-^'s• of Funds. if the amount of
<br />fh.-) Funds hold by Beneficiary shall not be sufflctwirss pay taxes, assessments, insurance prOir,:ums and ground rents as they fall duo.
<br />Trustor shall play to Beneficiary any amount niter -,° °vary to make up the deficiency within thirty dgts from the date notice is mailed by
<br />Beneficiary to Trustur roquesting payment thvreot Upon payment in full of all indebtedness. Beneficiary shaft promptly refund to
<br />Trustor any Funds field by Beneficiary If the Trus! At:4vorty rs sold under the power of sale or the Trust Pronerty is othynv,se arquited
<br />by Bortelic,ary, t3erreficlary shall apply, rrtrmedlatfilyGout to rho safe of the rru!;t Property nt th; a q+nsiri:u, tiv Penettr urv. ,)rry Ftinif!,
<br />l:�;t;} f)�- i.+.�,t: &f:�.lity ;�t ff;F i+rr><; Gt �rTI)hec"ihrir, rt6 ii cart *�;i r�i/unrst ih� JndHf)t+liiROSS if f3Ur,Ci'r.•rFpy (rc'+'UftS ;r �VrrtiCrrT WJrc•( +t rr,` TIiSrOr c
<br />nf)Ggation5 widtir f1w, l)araijoilrh 4. Trustor covernu,rs Hnti ng►nn; rr, pa)v helore flit. Sami, tif,n rrro can/•rnlovil! al 1,11w,
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