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<br />Deed of Trust
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<br />- 90--- 105505
<br />THIS DEED OF TAUST is made this - 12th__ day of Asir 1 I - -19 9Q , by and between Mc Dvna1d_Ferms,___1nc.._ _-
<br />whether one or more, (hereinafter called the " Trustor"),
<br />wtiose mailing address is Raut�r Sax- 79T ih �1 - -- - -_ -- — - -- -- - -- _ --
<br />NORWEST BANK _ Nahraatra _ Nor { e 1 — }g
<br />( hereinafter caged the "Trustee "), whose malting address Is
<br />and NORWEST BANK _Rahraeka,_Natlrenal An _ , (hereinafter
<br />coiled the " Rermllclary "), whose mailing address is PO Box 1768, Grand Island- - NE 68802
<br />WITNESSETH:
<br />IF THIS BOX IS CHECKED ( ) THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES,
<br />GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY
<br />DESCRIBER HEREINBEL.OW,
<br />WHEREAS, Trustor is indebted to Beneficiary in the principal sum of Four_ Hundred Thn rind
<br />Dollars0"A�inn, oil an
<br />). which trjdebtedness ►s evidenced by Trustor's promissory note dated _pp =il_42-_19 fat. 1
<br />called the "Note'), payable to the order of Heneliclary and having a maturity of _lance --- unry I _ _ __ _ __•_
<br />NOW, THEREFORE, for the _ T
<br />purpose of s.11 tiring:
<br />(a) payment of the Note, together with ini•srest thereon. late charges, prepayment penalties, any future advances, and all extensions,
<br />modifications, subshtutions and renewals there'a1.
<br />(b) payment of an other sums, fees or charges. Icgother with interest thereon, advanced to protect Me secunty of this Deed of Trust and
<br />the performance of the covenants and agreement; of Trustor, whether or not set forth herein,
<br />(c) performance, discharge of and coirr,Dbance with every term, covenant, obligation and agreement of Trustor contsl,-lod herein or
<br />Incorporated by reference or any other security instrument at anytime g!von to secure the Note, and
<br />ruff the repayment of all other sums or future advances, with interest thereon. which may heretofore have been or hereafter be advanced
<br />by Beneficiary to Trustor or Trustor's successor in interest or title,
<br />aA ail which Is hereinafter collectively called the "Indebtedness ", Trustor irrevocaaw grants and transfers to Trustee. in trust. WITH POWLEW
<br />OF SALE, the following described propemi
<br />See Exhibit 'A'
<br />together with (I) all buildings, structures, additions, enlargements, modifications, repairs, replacements. and Improvements now or hereafter
<br />located thereon, (u) 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 affache f to. or built in, any building or improvement
<br />now or hereafter located thereon, li i) all easements and rights of way appurtenant thereto, (av), all leasehold estate, right title and interest of
<br />j Trustor in and to all leases, whether now or hereafter exishng or entered into (including, without limitation, all cash and Security deposits,
<br />advance rentals and deposes or payments of a similar nature), pertaining thereto. Iva all rents. issues, profts and Income therefrom (subject to the right of Trustor to col,'ec" end apply such rents. Issues, profits ano income as they become due and ! ij rzle so long as no event of
<br />i default exists hereunder). (tip a" royalties, mineral, pit and gas rights and profits, water, water rights, and watt - stock. (vll) all tenements, t
<br />hereditaments, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion, 1
<br />! voluntary or Involuntary, of any of the faregocng into cash or liquidated claims fincluding. without limitation, proceeds of insurance and
<br />condemnation awards), all of which is reiernafter collectively called the "Trust Property
<br />TO PROTECT THE SECURITY OF THiS DEED OF TRUST, TRUSTOR COVTWA1VfS AND AGREES AS FOLLOWS
<br />1. Title. Trustor covenants, warrants and agrees wrtl% Beneficiary, its successors and assigns, that Tn sror owns the Trust Property free
<br />from any poor lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first hen on the Trust Property.
<br />that Trustor, of its expense, will preserve such title and will - iierNsin this Deed of Trust as a first and paramount lien upon the Trust
<br />Property and will forever warrant and defend the validity apa z Rarity of the lien hereof against the claims of all r.emr•rs and parties
<br />whomsoever. Trustor, at its expense, will cause Mas Deec of ' -usf, and each amendment or supplerrelnl hererv. (c) ce filed and .tic
<br />i recorded as a mortgage of the Trust Property it such manner and In such place and will take such acticn as in the c, pnion .rf Trustee
<br />may be required bti any present or future law In order tea iperfecl, maintarr rind protect the hen of tri; ; "pC red Trust. as the sar m may
<br />be amended yr Su vlernented from time to time Trustof or'l: maire such twmpe► aSSu►arce 9r assu►arces tifvt?74,f rI it, 11110 10 the Trust
<br />Property as May be required by Beneficiary Trustor hwo;t it '01,.Iqurshes ail right of rdirw w end homestead in ei' cj t: the xirusr Property
<br />2. Payment otlnpe0tad»oss Trustor shell punctually pay the fm-,cipsi of are •rteresr ur e—Indebtedness secul`0 !:0119 )v
<br />I Const►uchon of ftnanvurnents Trustor shall compiere In goad and wrrk- eFtr'; rte manner any building:. provenlenft cx reptttr.� re• rig
<br />thereto which may we begun on the Trust Prauer' :, or Cmterrplatod by the loan evidenced by the h, :.c• secured hereby, to zea.• %17#n
<br />due au costa and Ifa:Nlities incurrya "ne►elore art, +r/tr fC a1 oei a any construction lien against such Tr;,s: Propert„ 117 the even
<br />construction of buildings, improvemie••'its or repairs are cal^ ~errVated. Trustor also agrees, anything In this Veen o," `•ust to the contrary
<br />notwlftrtsranding. (a) to promptly commence any s/:rh worA V11-1 to complete the proposed improvelvents Arer"k r'i .bl to complete the
<br />same in accordance with tha Mane and mrsar.&6 Jllhnnc Ac arvvnval hu xz f r..,n. ..• i r...•.....,..,. �Iw .., Iw........,............,.�..... ,..
<br />_ .., �....n �......... r. ,... ..- ...•...,• � ......... ...v ...,.. a ... u w.•v..•M root
<br />agreement, it any, between Trustor and Berlerih air, the terms of which are Incorporated heroin tit, - e*ivrence and made it DAr'
<br />(d) to allow Beneficiary to Inspect the Trust Property at all times during construction. and (e) to ropiuco any work or maters',
<br />1#1158631a0ury to Betieficlaty withal fifteen (15) ddys :after Witten "WhAr fr(Mtt ©p,iefiwary of Much lac!
<br />e. Funds for Paynwnt of Charges Subject to applicable law or to a written waiver by Beneficiary. Trustor shad pay to Beneb,yry on me
<br />first day of each month. or such other date each month as may be specified by Beneficiary, until the Indebtedness • s e).i.:r'r, futr. a sum
<br />(hereinafter called the 'Funds' •) equal to 1 12th of the yearly faxes and assessments which may attain priority ovp, rh.s LAs w9 ,if Trust - • — --
<br />and ground rents on the Trust Property, it any. plus 1 12th of the yearly prentrum insrduments for hazard insuearic'e c' as f jrrh of the
<br />yearly premium installments for mortgage insurance. If any, all as reasonably eshmated initially ant/ from time to rime t)y Benefciary on
<br />the basis of assessments and ba11s and reasonable estimates thereof The Funds shall be hell rn an instituttcln me deposits nr
<br />accounts of which are insured or guaranteed by a federal or state egeocy including Beneficiary Beneficiary shall apply the Funds to
<br />pay said taxes, assessments, insurance premiums and ground rents Beneficiary shah nnr the requ'rmf tci pay Trustor tiny interest Of
<br />eaming5 on he Funds. Beneficiary shag give to Tntstor. without charge. do annual aCLvuntInQ ill the Fanr1S Showing Crehlr(5 and
<br />debits to the Funds and the purpose for which each debit to the Funds was nrdde Thy+ F undo ate pietiqu(1 a,: de Wit .rlin,il se,:lirity fur e!
<br />Me indebtedness secured by this Deed of Trust It the 817101011 01 this 111MIS held by Lifl►lel,t ;art'. fvQpther with fhf+ fiitiire rrl()nthly
<br />installments of Funds payable prior to the due dates pl fares. dS'il +� tirnt +its- nsurrfnl a jrl ()mgnn, :Intl 1jr1 runrY wit -, •.Ihd!, rill e4vlj fhr•
<br />amount required to pay said taxes, assessments. insurilnt v prNnParris and (Ifou•itl IW11% .I., rhpl latl 11110
<br />Trusim's Ogden. either pronlptty tppold to Tluslor or cled;ted to trust(), HgH•,ht Iala,el m()iahly ,n',LeI "egret, .,f . i. ,1ti I. th,, ,I'll,i,plt
<br />the f unds held by l9onefictary shall not be suffruenl to pay tamers asses 5meht% it1lU,arl( p 1v01n1u1fl% ,I-1i1 Il•,'l,I .I ,wt', •f• thP� ftil, ,),,r•
<br />Trustor shall pay to Beneficiary airy illmant necessary to rneAto oil IN, r11141( rem, 1' Nifl „n (hat` 1111i,% hi "il tilt' ,fafl' '4'1 , " . 'i, I,11•if 1',
<br />Bennfiela►y to Truster rerqutistahg payment theroof Utxi l jrB1'ntelnt it, ►u.; nt rat' In,lr•bta, f, rti, li+ "iplrl 4p1 %h,I' i ". „r,i•t ► + „•r I r„
<br />Truster any Funds held by Heneltcinq it trip IraA lYllj►etry it Sii'ir i,hlh,i ptp 11,i,fr” •di+' ' • it". 71"51; •',.t.,.'t1 ,,!,p,'N ' ", .a1 J.• ,• } '
<br />by Benofrcuuy. 11011PI(c,ary tihdU djtj►7� arlrne(laatele Jim-/ ht this %aip 44.10,v 1 ,wJ 1''• pwl ,. .,• -pi •,4• t , III- ,11,4, ,t •i .a
<br />held byHenelsowyirl It'll tinlr+ tit illlll:,l.al,0lI d•. d, si"I'l,tija i "•ftrtr• lnda•ldr•irill••., If (ll "11,•4. ,I', s•u•. ,.h• ,► •,., A's ,r•
<br />crb&gaanns under this l►tN►aglaph 4 Trustlir lrlY'I•ltiint', di'J d,lh•1'} 1'Je t'n J. •„• N r • .r t
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