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<br />Deed of Trust
<br />AWANKS g. 102181
<br />'is
<br />ndaBarbara —'�C: Fea o °n, vsTan anill�w3fe' byandbetween _,
<br />whether on a Qrore, (hereinafter called the "Trustor' ).
<br />whose mailing address is as 1LCa rorget liiana lassna, ►Xavia5na Vwwv&
<br />NORWEST BANK NEBRASKA• NATIONAL. ASS4CIdT O rhereinafter called th ' Tru a "11.. hose mailing address is
<br />202 iMT_ 3rd- Grand ?s],i{ttd. NE and NORWEST BANI(NEBRASKA NATIONAL SSO8Z N , ( hereinafter
<br />called the "Beneficiary '). whose mailing address is 202 West Third Street. Grand Island, NE WOW
<br />WiTNESSETH:
<br />IF THIS BOX IS CHECKED) XX ) THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECU•°,.'TY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES,
<br />GRANTS AND CONSTITUTES A CONSTRUCTTON SECURITY INTEREST W THE PROPERTY
<br />DESCRIBED HEREINBELOW. •
<br />" VAEREAS Ties�o is indebted to Beneficiary in the principal sum of Forty=f ive Thou-Sand and no/100tbs---
<br />(S 45 ,03 10 -DO ),which indebtedness is evidenced by Trustor's prrmissory not dated A aril 2 , 79 B9 fhereinafter
<br />called the "Note "). payable to the order of Bene6crerrr and hawing a maturity at AAnr it 1 , 11 U
<br />NOW. THEREFORE, for the purpose of securinq,-
<br />(al payment of the Note, together w ;& r -,r,; eV tfrereon, fate charges, prepayment penaft res. any future advances, and all extensions,
<br />modifications, substitutions and. ret eww!'s t�ereof,
<br />(b) payment of all other sums, fees or charpw- , : 07gether with interest thereon. advanced to protect the security of this Deed of Trust and
<br />the performance of the covenants and agmommts of Trustor, whether or not set forth herein,
<br />(c) performance. discharge of and conphance. 'rrr? h every leap. covenant, obligation acrd agreement cf Trustor ccntained herein or
<br />incorporated by reference or airy. aher security instrument at anytime given to sec m- fre Note, and
<br />(d) the repayment oral cthersums crfuture advances, wilziiTh -rest thereon, which may heretofore have teen crft2reafter be advanced
<br />by Beneficiary tc• rtvagr or Trustor's successor in inttrs =r fir tittle, :
<br />all of which is hereinaftc oz7iiecfively called the "Ind(Uatedriess ", Trustoirrevterbly grants and transfers rc rrustee, intrust, WITH POWER
<br />OF SALE, the following described property:
<br />The East Fifty Feet oT.,30') of Lot Three (3) and all of Li3t Four (4). in Lake
<br />Davis Acres Second Sub3ivisian, in Hail County, Nebras' T.
<br />together w-M, fir? all buildings, structures, additions, enlargements, modifications, repairs, r erlecements, and improve rents now cr hereafter
<br />located th"ry (it) all equipment, machinery and fixtures (including, without limitation, el l,'+,l^fing, heating, ventilating, cooling, air
<br />conditioning, sprinkling w,:!; plumbing fixtures, wafer and power systems, eng!nes, boilers, ranges, ovens, dishwashers, mirrors &,7d mantels,
<br />carpeting, furnaces, oil burners, elevators and motors, refrigeration plants aruivis, communication systems, dynamos, trensfom sm4. electrical
<br />equipment, storm and screen windows,doors, awnings and shades) now or Hereafter attaChad to, or built in, any building or improvement
<br />now or hereafter located thereon, 6h)...0 easements and rights of way appurtenant therel* liv), all leasehold estate, right, title and interest of
<br />Trustor in and to all leases, whether r7ax or hereafter existing or entered into (including, ww•-nccut limitation, all cash and security deposits,
<br />advance rentals and deposits or payt'imr; s if a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject -
<br />ri the right of Trustor to collect and aci y '5r:0 rent;?, issues, profits andincome, as they become due and payable so long as no event of
<br />default exists hereunder], (vi) all roya -':s ` i vmr;i :3! c t and gas rights and profits, water, water rights, and seater stock, (vii) all tent:ments, :
<br />hereditaments, privileges and appuiPwar ;; ; is(s(wuprig, used or enjoyed in connection Vm ,: :,ivri1, 04C I'rnii) all proceeds of connec ton,
<br />voluntary erinvoluntary, of any of the, fivipooing into cash or 1lawlated claims (inclu(:irrl.. •,•othout limitation, proceewr. cl insurance and
<br />condemn llm awards), all of which is hereinafter collectively calr3d the "Trust
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TAUSTOR,CDYG -NA,,1 TI S ANZ AGREES AS FOLLOWS:'
<br />1. Title. Trustor covenants, warrants and agrees with Beneficiary, its cuix asors and assigns, that Trustor owns the Trust Property free
<br />from any prior lien or encumbrance, that this Deed of Trust is and wiii remain a valid and enforceable first lien on the Trust Property,
<br />that Trustor, at its expense. will preserve such title and will maintain this Deed of Tt1.;3t as a first and paramount lien upon the Trust
<br />Property and will forever warrant and defend the validity and priority of the lien heind against the claims of all persons and parties
<br />whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each arnenl-f7nent or supplement hereto, to be filed and
<br />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
<br />may be required by any present or future law in order to perfect, maintain and protect the hen of this Deed of Trust, as the same may
<br />be amended or supplemented from time to time. Trustor will make 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 dcwei and homestead ir) and to the Tlvv Property.
<br />2. Payment of indebtedness. Tmistor shall punctually pay the principal of and intemV, din the Indebtedness secum3d hereby.
<br />3. Construction of imprvvemertts. Trustor shall complete in Vo d and wotkntarrlLtre anal tner any buildings, improvements or repairs relating
<br />thereto which may be begun on the Trust Property, or contemplated bJ the -lhan evidenced by the Note secured hereby, to pay when
<br />due all costs and liabilities incurred therefore, and not to permit any coitstructierr lien against such Trust Property. In the event
<br />construction of buildings, improaements or repairs are contemplated. Trustor also agrees, anything in this Deed of Trust to the contrary
<br />notwithstanding; (a) to promptly commence any such walk 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 Herleficiary, the terms o1 which are incorpotated herein by reference and made a part hereof,
<br />id) 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 Berfeficlary of such fact
<br />4 Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary. Trustor shall pay to Beneficiary on the
<br />first day of each month, or such other date each month as may be specified by Beneficrary, until the Indebtedness is paid in full, a sum
<br />hherennater called the "Funds') equal to 1 12th of the yearly taxes and assessments which may attain priority over this Deed of Trust
<br />and ground rents an the Trust Property. it any, plus 1 12th of the yearly premium installments for hazard insurance. plus 1 12th of the
<br />yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Beneficiary on
<br />1110 basrs of assessments and bills and reasonable estimates thereof The Funds shad ise held in an institution, the deposits or
<br />wsr. nfs of •r,'hxh arc :mwred rr gu irantood by a fedata! or ;Sate Cyetic► including Benclic!anre Beneficiary shall apply the Funds !e
<br />pay said taxes, os5osSrner -ts, insurance premiums and ground rents 6enefraary shall not be required to pay Trustor any interest or
<br />earnings on the Funds fiertefitiary shall give to Trustor, without; charge. an annual accounting of tho Funds sho.winq credits and
<br />debits to the Funds and fire purpose for which each debit to the Funds was made Tho Furlds are pledged as addrlonal secunly for
<br />rhE7 by this Doed of Trust it the amount ofthe Funds held by Berrehciary, together with the future monthiv
<br />,'%startrilents of Funds p iiabre prior to the due datfis of tares. assessments. insUr�nCe prertriums ,Ind ground rents shill ezCeed iltE+
<br />atmuunr required to liar sad tares. assessments, insurance prerNums and ground tents as they fall due. such excess shim b(' :N
<br />Tt,ls.'nr r, Opttarr_ other lnorrinr(y repaid to Trusror EN credited to Tru :fat agalns? future mrjnthiv Insrall,n(_,niS of Funds If the arnowit r. f
<br />L #Unite hell by QErr{ (;£'arJ cri !'+ nUf t;o suNrtlen► to pay n,ennlirnS t?r (f eirr:urtr)
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