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r Deed of Trust t3�lYxS $g-- 03584 is mt�de this ._�lth _ dayof �.I1tL�_ , iS �2 , by and between Ilau�d i. _ i.a�unn and �,�hunbaTM_ an� w fe _ _ __ _ wltetlteroneormore, (hereinaftercaliadthe "Trustar'7, whoa* maiift address is NORWEST BANK cabled the "Beneficiary'). whose m*Av mailing address is _ , (hereinafter WITNESSETH: IF THIS BOX iS CHECKED I XXI 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. Trustw is indebted to Beneficiary in the principal sum of One .HundrEd Tbaimand And nn L(10ibs-----.-------- DoNarS ($1flQ,. 00 - 00. ), which indebtedness Is evidenced by Trustor's promissory note dater! ?uly_ 11 • , 19$2_ , (hereinafter called the "Note"), payable to the order of Beneficiary and having a maturity of July _b__ 199n NOW THEREFORE, for the purpose of secunng: (a) payment of the Nob, together with interest thereon, late charges, prepayment penalties. any future advances, and all extensions, =0#cabons, subsbfutiorts and renewals thereof, (b) payment of all other sums, fees or charges, together with interest thereon, advanced to protect the secunly of this Deed of Trust etrdt Me perJFnmarlce of the covenants and agreements of Trustor, whether or not set fotth herein, (r.) perk nrt&rra, discharge of and compliance with every term. covenant, obligation and agreement of Trustor contairm.dherein or iacGrW,,,"d by reference or any other security instrument at anytime given to secure the Note, and (d)• the t4wpnent of all other sums or future advances, with interest thereon, which may heretolore have been or hereafter be advanced ' by Beneficiary to Trusts or Trustor's successor in interest or btle, aft 01 which Is hereinafter eolfechvely calved the "Indebtedness ", Trustor irrevocably grants and transfers to Trustee, In Inlet;. WITH POWER OF SALE, the fodw.ing described property: Lot One (t), Regency By The Green Third Subdivisions in theCity of Grand Island, Hall County, Nebraska. rogetheir with (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter located daimon. In) ate eautoment rnachinem and fixtures (includina. without limitation. all kahtina. heatine. ventiletina. cooling..air conditioning. sprinkling and plumbmg fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels, carpeEirtg, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynemos, transformers, electrical 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 rights of way appurtenant thereto, (iv), all leasehold estate, right, title and irate mst of Trustor in and to all leases, whether now or hereafter existing or entered into (including. without (imitation, aft cash and security deposits, advance rentals and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, protiln and income therefrom (subject to: the right of Trustor to collect and apply such rents, Issues, profits and income as they become due and payable so long as no event of d,etAuN exists hereunder), (vi) all royalties. mineral, oil of rd gas rights and profits, water, water rights, and water stock, (vii) all tenements, heraMan w t . privileg®s and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion, voluntary or i, duntary, of any of the foregoing into cash or liquidated claims (including, wlthoul limitation, proceeds of inslltwob and condemna6on'twards), all of which is hereinafter coflectivey called the "Trust Property". TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. Title. Ttustw covenants. warrants and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Pioporty'f" from any prior lion or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Propehy, that Trustor, at its expense, wX preserve such true and will maintain this Deed of Trust as a first and paramount lien upon the Trust Property and will forever warrant and defend the validity and prrority of the lien hereof against the claims of all persons and parties witorrtscever. Trustor, at its expense. will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and 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 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 supplemented from time to time. Truster will make such further assurance or assurances to perfect its title to the Trust Prop" as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead, Iry andito the Trust Property. 2. Payment of Indebtedness. Trustor shall punctually pay the principal of and interest on the Indebtedness secured hereby. S. Construction of Improvements. Trustor shall compk9e in good and workmanbke manner any buildings, improvements or repairs relating thereto which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when due all costs and habdibes incurred therefore, and not to permit any construction lien against such Trust Property. In the event construction of burps, improvements or repairs are contemplated. Truster also agrees, anything in this Deed of That to the contrary notwithstanding; (a) to promptly commence any such work and to complete the proposed improvements promptly; (b) to complete the same in accordance with the plans and specifications as approved by Beneficiary, (c) to comply with all the terms of a building loan agreement, if any, between Truster and Beneficiary, the terms of which are incorporated herein by reference and made a par= hereof, (d) to arrow Ber* icia y to inspect Me Trust Property at eN times during construction, and (e) to replace any work or materials unsatisfactory to Benelk4wy within fifteen (15) days after written notice from Beneficiary of such fact. a. Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustor shall pay to Beneficiary on the brat day of each month, or such other date each month as may be specified by Beneficiary, until the indebtedness is paid in full, a sum (hereinafter called the "Funds") equal to 1, 12th of tie )rsaary taxes and assessments which may attain priority over this Dead of Trust and ground rents on the Trust Prvpe dy, if a hy, piu3 1, Mh 0 Me yearly premiuirr, iirstall,nent3 for hazard insurance, plus T 12th of the yeerty prCmrum rrlstanmertfs fur mortgage insurance. if any, 0 as reasonaWyr estimated initially and from time to time by Beneficiary on Me basis of assessments and bills artd reasonable estimates thereat. The Funds shag bo held to an institution, the deposits or accounts of which are insured or guaranteed by a federal or state agency including Beneficiary Beneficiary shall apply the Funds to pay said faxes, assessments, insurance premiums and ground rents Beneficiary shall not be required to pay Truster any interest or earrings on the Funds Beneficiary, shall give to Trustor, without charge. an annual accounting of the Funds showing credits and dobits to the Funds and the purpose for which each debit to tree Funds was made The Funds are pledged as uUditional security rot the indebtedness secured by ttKS Deed of Trust if the amount of the Funds field by Beneficiary. together with the future monthly 1 :751 10TWIrts of Funds payable prlor to the due dares of taxes. assessments, rnsurancv p: vnlrums and ground rents, shall excood the amount roquaed to pay 5atd faxes, asses sments. insurance premiums and f�reurtd rents as they rail! rlu0. Such Uxce ;5 shalt tH3. at TrusY,r s clir on, a het rrornptly r©p9sd to Trusfcv or credited to Trur for against future monthly in :ta"Wients of Funds It Me arnourft of the Funds h9;(1 by R81TF.+! ;vary � hall frflt bo sufficient to oar tares. asses,,monts. trisurdnCO rrvin,,ims and rdround rertis i14 th {7 y (,t,: rlrl(`. Truvltf pav in, ffeact.o'lly, any rff?)r;(frtt to makit uhf flif) do!r,vnvy W'thrn thiery, d qr•s rititt' thtl ff: ft U cs 11"'? (,(r I,y fmrol ary I') T!tf ; " %{ f0Q11C ;!,rq1 /titj;nient fhercof (Ilion lmyrarlrrt r•` fat: r.fn far CbfPt'•'u1 ;4 It:•r{,+.: . In' ct•,g rr,1S.''+t f1f +/ f ..,a', tfor) by frPnf !.(rfd'Y if •frfr Tr;," r Nrrrlict,fy v; S'FJ ctrtdi f ttr{, 1, ,.tl r r.p . 3'r, t_:, it t t. •,r Ly`•l tuft' y , •ht "t6 v' J O:r.,r.,, ..:rr, d:r,trr tra rho ',a (.f Ir:n , ,f 1'., -1 • . ,. 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