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t Deed of Trust R4NnS Q 89_.1 02V �1 THiS DEED OF TRUST is made this 26 day of R by and between Dorothy M. Graus , a_ sin a Berson whether one or more, (hereinafter called the "Trustor" ), whosomaNngaddressis 124 E4st__15th. Strget_, Crane W0_Ad, NE 68801 _ NORWEST BANK Nebraska, National Association _ (hereinafter called the "Trustee "), whose mailing address is P.O. Box 1768. Crand Ida_nC _F • and NOAWEST gA}i�C _Nebraska, _National Association (hereinafter called the "Beneficiary"). whose mailing address is _P.O._Hoa 1768, Grand Island, _NE WITNESSF. TH. IF THiS BOX IS CHECKED j J THiS DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES, GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY DESCRIBED HEREiNBELOW. WHEREAS, Tr�rstor� iindebted to Beneficiary in the principal sum of F�1RTY -THREE THOUSAND AND 0 110----- �----- -- - - -- Dollars ($ 43altl �O 1 which indebtedness is evidenced by Trustor's promissory note dated May 26 , 19 �� , r ;tie. ;Tatirir called t.. "Note ",i, payable to the order of Beneficiary and having a maturity of May 25 1990 _ NOW, THEREFORE. for the purpose of securing: (a) payT,rmnl at Ilya Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extemsiorrs, rmlcf'fca�orts; Substitutions and renewals thereof, (b! Raymeno of ag other sums, fees or charges, together with interest thereon, advanced to prearcr the security of this Deed of rru$t grid . dvperformance of the covenants and agreements of Trustor, whether or not set forth herein, (cl) pafmmance, discharge of and compliance with every term, covenant, obligation and agreement of Trusitiir contained herein or m cwporated by reference or any other security instrument at anytime given to secure the Note; and (d,i the repayment of all other sums or future advances, with interest thereon, which may horerolum have been or hereafter be advanced by Beneficiary to Trustor or Trustor s successor in interest or tale. all of wMcb is hereinafter collectively called the ''indebtedness Trustor irrevocably grants and transfers to Trustee, in trust, WITH POWER OF SAS idle (ohowing described property. LOT TEN (10), BLOCK EIGHTY -FOUR (84), WHEELER 8 BENNETT!S FOURTH ADBUION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA together with (t) all buildings, structures, additions. enlargements. modifications. repairs, replacements. and improvements now or hereal, located thereon. (u) all equipment, machinery and fixtures (including, without limitation, all lighting. heating, ventilating, cooling, air conditioning, spnnklinq and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels, - C —r- .Mng• fwme= m:r:.r..v°S r v.vvvto.v and mcr;v:a, :ai:ryai8tnNi F•iatiriS Of Witii3, (vy "tirrruniLttirvrr SySlemS, OyrramOS, tranStOlTnerS, eleCtnca7 equipment, storm and screen windows,doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement now Or hereafter located thereon, (iii) all easements and nights of wav appurtenant thereto. Ov), a.'I leasehold estate. ri_oht, title and interwsl of Trustor in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits, advance rentals and deposits or payments of a similar nature). pertaining thereto, (v) all rents, issues, profits and income there!rom (subject to 61e right of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as r40. event of data areyists hereunder), (vi) all royalties. mineral, oil and gas rights and profits. water. water rights, and water stock, wi -) aV Zeriements, hered twnents, privileges and appurtenances belonging, used or enjoyed to connection therewith, and (viii) all prr6ee4s'cf conversion, voluntary or involuntary, of any (71' Me foregoing into cash or liquidated claims (including, without limitation, proceeds of tnsurance and condemnation awards), all of which is hereinafter collectively called the "Trust Property". TO PROTECT THE SECURITY OF THIS DEED OF TRUST. TRUSTOR COVENANTS AND AGREES AS FOLLOWS: I. Title. Trustor covenan. s.. warrants and agrees with Beneficiary, its successors and assigns. that Trustor owns the TrWr Property free horn any prior hen or eric rrnbrance, that this Deed of Trust is and will remain a valid and enforceable first t;en on the Trust Property, that Trustor, at its exp6. se: will preserve such title and will maintain this Deed of Trust as a first and pare mount lien upon the Trust Property and will forever rtienant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be Clad and recorded as amortgage of the Trust Property to such manner and in such place and will take such action as in the op.nion 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 supptemavred from time to time. Trustor will make such further assurance or assurances to perfect its title to the Trust Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Properly. 2. Payment of indebtedness. Trustor shall punctually pay the principal of and interest on the Indebtedness secured hereby. 3. Construction of Improvements. Trustor shall complete in good and workmanlike manner any buildings, improvements or repairs relating Chereto which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when dire all costs and liabilities incurred therefore, and not to permit any construction lien against such Trust Property, in the event ', . Construction of buildings„ Improvements or repairs are contemplated. Trustor also agrees, anything to this Deed of Trust to the contrary r+aatwithstanding; (a) to prdsptly commence any such work and to complete the proposed improvements promptly, (b) to complete the "same in accrodance with the plans and specifications as approved by Beneficiary, (c) to comply with all the terms of a building loan agreement, ifany, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a part hereof, (d) to alklw $eneficiary to inspect the Trust Property at all times during construction, and (e) to replace ar.WWork or materials ,unsafisfactoryto BeneficcW— 'within fifteen (15) days after written nonce from Beneficiary of such fact. S. Fiends for Payment of Ct~•al'ges. Subject to applicable law or to a written waiver by Beneficiary. Trustor S.- ii.pay to Bas'ehriary on•r first day of eseh month, or such other date each month as may be specified by Beneficiary• until the Indeb'edness vS Paild in full. a sum (hereinafter called the "Funds') equal to 1 %12th of the yearly taxes and assessments which may attain pii6hty over 07's Deed of Trust acid ground rents on the Trust Property, if any, plus 1! 12th of the yearly premium installments for hazard 1: suranee, plus ' I ,12th of the yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and front .1i ne to time by Benehcrary or the, basis of assessment k1d bills and reasonable estimates thereof The Funds shall be held in an instZL6sn, the deposits or v=ounts of which are qw. rod or guaranteed by a federal or state agency including Beneficiary shall apply the Funds rc pay said ra.tr� s, assessrrler!s. insurance premiums and ground rents. Beneficiary shall not be required to pay Trustor ?-:7y interest or earnings rim rl v, Funds. Ser.',ficrary shall give to Trustor, without charge, an annual accounting of the Funds showing, credits and debit; to ire kends and n-p' purpose for which each debit to the Funds was made. The Funds are pledged as adchtrorraf security 1Gr t' &,,,a Indebtedness secured dy this Deed of Trust If the amount of the Funds held by Beneficiary, together with the future monthly L 'O..,oallments of Funds payable prior to the due dates of tares, assessments. insurance premiums and ground rents, shall emceed :nr amount required to pay said taxes, assessments insurance premiums and ground rents as they tall due. such excess shall be. at Trusfor s on&on, either promptly repaid to Trustor or credited to Trustor against future monthly rnstallmonts of Funds If the amount of tho Funds held by H, eneh(•l;iry shall not be sufficient to pay faires, assessments, lnsutdnrf' Fliennums and grourn'f rants as they frail tli.e Trustor shall fray to Honeficiary ir,t y arnount noce•;wiry in make up the rlelicwrlc y w ;th,r1 lh,rty d,ayc from thf, dare n<ltic.e 1s rn,ilip(I h,+ Ronotrr.tary to Tri tvrir ro(lyogtrrifl Aaytr,Frnt !hf 1,1m. -i p,tyrnen' to fu:t pt a ;t Jn•Ir•fr`t•if• • .S lir•riefrc,a .n:atr !r7na r. +l r '1 r? ! y ( •tort. i !r, rpuv5 yr any t ur)(P. hold by Holly flt,ary 1! 111t• Irur.f Pr(I'mrt I,, "o it umlr•r •fie h. i M1 Pr , ,,r ll. r, r .,, , .. v • ,t•t Ill.? u•.l . • r t•ny , ; , •' a-iw,•.t, t- ,i.r.r,.,• tr/ Ffr)noGr, airy "I'llfArliiry ,,haft illipi y pwa rt, low ',ir:p I ri „` if'r .t i Y. :rt'K. y ( ' .14 .1, ,r., 4r•.r rrniU h/ fir nrrhr:Nry .Jr tlrfi t,ml tit 11I)IAr .lRur, a : ,r r r144 rlr .pri :! tiro „1.:,1Jd,'urat', rrn,Jr.r till', pw.atp,ilrr, q Tri) jr r r •,�r••r.p,••, •1•l.lyrrr.. r. t� ,.r�L., r,, .rn,... ,t , , r , , - 4 u G r:r.. r• MR