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THIS DEED OF TRUST is made this 5th day of May i , by and between Larry J. Eastwood and
<br />Mary L. Easpgco4_& Husband_ and Wife _ 41ether one ormore, (hereinafter called the "lrustor "),
<br />whose mailing address is —�
<br />NORWEST BANK NebrdiFk8a National Association :( is7after called the "TrusteB' ), whose matting address is
<br />P.Q. Box 1768: Grand Island,- NE , andNORWEST ANK Lehr National Association
<br />(hereinafter
<br />called the " Beneficiary"), whose mailing address is P.O. Box 17.68, Grabe::Island. Nebr. Is ka 68Rn2
<br />IF THiS BOX 1S CHECKED[ ! THiS DEED OF `TRJS:` C6JV& iT,' 1TFS A CONSTRUCTION
<br />SECURITY AGREEMENT UNDER THE NEBRASK�7 2'JNSt7(;1C4�i1t•� ;EN ACT AND CREATES,
<br />GRANTS AND CONSTITUTES A CONSTFIUCTiC,� SECJ• RI7V f'F -ER�STTN THE PROPERTY
<br />DESCRIBED HERE /NBEL0W.
<br />WHEREAS Trus or i indebted to Qeneliciary in the principal suit} of 1'idE�T?' `EI - TE USAND AND NO O1100--------------
<br />Dollars (S 29, 00�. 0 ), which indebtedness is evidenced by Trusna -s ri �#;gsaony np a crated May , 19 89 (hereinafter
<br />called the "Note"), payable to the order of Beneficiary and having a ma:L('ritjf %&vsmber 3 , 1989 _
<br />NOW THEREFORE for the purpose of securing.
<br />(a) payment of the Note, together with interest thereon, late charges, any future advances, and all extensions,
<br />modifications, substitutions and renewals thereof,
<br />(b) payment of all other sums, fees or charges, together with interest protect the security of this Deed of Trust and
<br />the performance of the covenants and agreements of Trustor, whether a" i o `frin h herein,
<br />(c) performance, discharge of and compliance with every term, covenant, otaJrg4± ter;.:, -, :'agreement of Trustor contained herein or
<br />incorporated by reference or any other security instrument at anytime igfle.+l r: sscare tfe Note, and
<br />(d) the repayment of all other sums or future advances. with interest therearm yt .[Z: r. mey 116E atofore have been or hereafter be advanced
<br />by Beneficiary to Trustor or Truster's successor in interest or title,
<br />all of which is hereinafter collectively called the "Indebtedness ", Trustor irretn•� f,l��f gt-)13 and transfers :o Trustee, in trust, WITH POWER
<br />OF SALE, the following described property.
<br />LOTS THREE (3), BLOCK SIX (6), IN v.: ZanS. FG7O R H ADDITION
<br />TO THE CITY OF GRAND ISLAND, HALL COUTNs .,. 3F.ASKA
<br />together with (i) all buildings, structures, additions, enlargements, modifications, repairs. replai . ^,7s ^ 1s, and improvements now or hereafter
<br />located thereon, (it) all equipment, machinery and hxtures (including, without limitation, al., irghtiln¢ heating, ventilating, cooling, air
<br />conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boiles, r;vn cs, dishwashers, minors and mantels,
<br />carceting, furnaces, oil burners, elevators and motors, refrigeration plants or units, syvens, dynamos, transformers, electrical
<br />Kvipment, storm and screen windows, doors, awnings and shades) now or hereafter 2CaJ?aff :. *a. or Crap in, any building or improvement
<br />now yr hereafter located thereon, (iii) all easerrlenM arrd rights of ;ray appurter7anf there ?w, t .;., ai, asahold estate, right, title and interest of
<br />Trusw?, A and to all leases, whether now or hereafter existing or entered into (including, wtiicua 1 %r^ a ^on, all cash and security deposits,
<br />advance °entals and deposits or payments of ra sirntlar nature), pertaining thereto, (v) all re!7s; +.^s �_Z3 4srofits and income therefrom (subject
<br />to &5e rqhtof Trustor to collect and apply such rents, issues, profits and income as they G9 fir^(= alie and payable so long as no event of
<br />defouit exists hereunder), (vi) all royalties, mineral, oil and gas rights and profits, water, wa`a- f-gf z d' o later stack, (vii) all tenements,
<br />hereditaments, privileges and appurtenances belonging, used or enjoyed in connection theme,,(, zr. 4:93 ( r ffi) all proceeds of conversion,
<br />voluntary orinvoluntary, of any of the foregoing into cash or liquidated claims (including, w'71;.iv k;^l at.or•, proceeds of insurance and
<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 AX'0 0 ROES NS i<OLLG'WS:
<br />1. Title. Trustor covenants, warrants and agrees with Bonobclary, its successors and assig, s.. ills," irvstor owns the Trust Property free
<br />from any prior lien or encumbrance, that this Dood of Trust is and wilt remain a valid and last t en on the Trust Property,
<br />that Trustor, at its expense, will preserve such title and will maintain this Deed of Trust as a Irv, :-n, ;.f r: ara -- rsc n * lien upon the Trust
<br />Property and will forever warrant and defend the validity and priority of the lien hereof again; .'r. s'ai.rs o".:rl ,persons and parties
<br />whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each amendment or sa;i !6)- m 1,ava, to be filed and
<br />recorded as a mortgage of the Trust Property in such manner and In such place and will take. : +.i�, : c -; ^, as in the opinion of Trustee
<br />may be required by any present or future law in order to perfect, maintain and protect the tier. ;{Ns Dee::` Trust, as the same may
<br />be amended or supplemented from time to trine. Trustor will make such further assurance or azy :ra.Xes ': perfect its title to the Trust
<br />Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and }c.-^esteav-' in ;e, ^y to the Trust Property.
<br />2. Payment of Indebtedness. Trustor shall punctually pay tho principal of and interest on the Inde.c, c%f ^ess s. c(;: ` d hereby.
<br />3. Conshucfion of improvements. Trustor shall complete in good and workmanlike manner any buir ings., ir7provorsnis or repairs relating
<br />thereto which may be begun on the Trust Property or contemplated by the loan evidenced by (he Picte se(aur vd hereby. zzpay when
<br />due all costs and liabilities incurred therefore, and not to pormtt any construction lien against sEa.Il lrt,'st P.•;,,p!Vy. In the a :e-it
<br />construction of buildings, improvements or repairs are contemplated, Trustor also agrees, anythh n; -n .�,;; Daed c•! Tr(,5` o the Con Ywy
<br />notwithstanding; (a) to promptly commence any such work and to complete the proposed Improve �?` -'_� rJS r, pT1, 7:i1 ra complete ?)?a
<br />same in accordance with the plans and specifications as approvud by Beneficiary. (c) to comply '', &?-!.-s of a 1;,jlding loan
<br />agreement, it any, between Trustor and Berrehciary, the terms of which are incorporated herein by to : 4"d mad Juan hereof,
<br />(d) .10 8110w Beneficiary to inspect the Trust Property at all times during construction, and (e) to replace a ^;r x1-ork or mat ,,4
<br />unsatisfactory to Beneficiary within fifteen (15) days alter wntton ntlticu from Beneficiary of such fact.
<br />4. Funds for Payment of Charges. Subject to applicable law or to it wntton waiver by Beneficiary, Trustor sha*,-p p :'o Beneficiary on the
<br />first day of each month, or such other date each month as rnay ho s p0crhod by lionehclary, until the Ir;deb": -lV cs; s paid in full, a su In
<br />(hereinafter called the "Funds') equal it, 1: 12th cif the yearly taxes and assessments which may attain prior +712 /ur G'ifle of Tr,.,s,r
<br />and ground rents on the Trust Property, it any, plus t 12th Of tho yontly prarrilum Installments for hazard insure G,'.js " '? `.h of tra
<br />yearly premium installments for mortgage insuranco, it any, all as roasunably usbinated initially and from time y_- r.;-ne b;! E;;rlaflciarl �^
<br />the basis of assessments and bills and roasonab /0 esGlnatOS• 010ru(1f Thu Funds shall be hold in an t -,e deps _." Sr
<br />accounts of which are insured or guaranteed by a federal ur stato agunc y including Beneficiary. Beneficiary Shat' apply , !7e Furr;,, t5,
<br />pay said taxes, assessments, insurance promiums and groilild runts Henehciary shall not be required to pa l
<br />earnings on the Funds Bnnefiriary shall (live to Tluetmi t 4huut (JI.- r.ie. art antfua/ accounting of tho Funds sl ',r. ;1y and
<br />debits to the Funds and the purpose for which each (101111 to N[tr i 1411(A vin:: erlado, The I unds are pledged
<br />the Indebtedness secured by this Deed of Trust 11I110 ar»owif of fifty I ii,ids litAl by Bonofrcrary, together
<br />�'-�- installments of Funds payable prior to the due data; of hl tes. ass( ,sln0n►., ri[Yururr(,V preiniulns and ground x,eed,,.
<br />alncunt required to pay said taxes, assf•ssntunff, 111', t1f(InLQ In(IIIB(!in'; ![rid tlf(711Ii(f relit s its they fail due• such t5S'r :'=� s "��•'i ce at
<br />Trustor's Option, eithfir p!tlniptly repaid to lrustiir i,r f rcdtfcd lit Irr! ,fnl m1artiO hrtur(r rrronthly rntallments of Far.-' :: `' "f : 071_._14 7"
<br />rho Funds hold by Benofit :nary shall riot h0 su►brrnnt fu fr,ry ru>,ts,, a ,'.FS .nulr,f rn4uranc(r prOrrnurris acrd ground �', -.Fa
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<br />frus rot shall pay to Put if) fit, iaty on,, arnn( it, t ripf (4,Sgryt :.l)hti,U iryr !riff (I( It, f'•f•rn i( ;;,frill, flinty (f.[yti itIMI tit( thrift rf(r''. _: t .. ^ ?3:!• °� C �
<br />Bonolictaty lh Trfll.'ut h[quast, rig Juipit±nt then(:. ,l (ill„ll il(ty•ffH'1r of f(i(i -1t iflr i,l• lt•ttffffiftli,", 14ofifyi,(',fi1y ~hall loll; rill; ;S.r 'if;•f,f' f
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<br />r,y 13gnf11iclary, bonah "4try `,hall apiilly. •rturlalp,itr•lr pilf,l fr, rbf •.;i'r• •,1 •f , [,., r I r voliv 1'1 r it l,•. ylJn 11r' 1tr,rr,dq
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