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<br />Deed of Trust
<br />AVLKS 89- 104176
<br />THIS EO€ O OF TRUST is made this 27 day of July __ _ , 19 89 , by � �y� Ronald E. Greer. a ,
<br />-.ltd • P.ersoq, —.. x,: .- - -_ -- •.� -- -- - -, �- - -, w Gr �rmore (hereinafter cal"
<br />the "Tiusior j.
<br />whose maitinr�'address is
<br />address is
<br />P,O Boas 1765 Grand 1619114, ME_ and NORWESTSANK deorasFA nauoaai ANNIQU ar"L tt ;�rerernarrer
<br />called the "BermOWay' ), whose maNing address is P • 0. Bert 17.58= Grand IQ l and = xghX&gkg 6AR( _.
<br />WITNESSETH.-
<br />IF THIS BOIL IS CHECKED ( j 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 />DESCRIBED HEREINBELOW.` ' ,
<br />WHERE4 T " t is tad to Beneficiary in the princlpatsum of _THIRTY -TWO_ *iO SAND Ate: N0/ 3Q :0 •= ----r* =- --r `" ;: :
<br />DfoNars (t � , which indebtedness is evidenced by Ttustor's proml'ssory n fed J11 ; 49-89
<br />coifed fhe "Mti'iC J�tlle to the order of Beneficiary and having a maturity of Aultusf: • :1
<br />NOW. Jrii for the purpose of securing: ;
<br />W payrrl rti)=t)re MEN&, together with interest thereon, late cJMVW, prepayment penalties, any future advances ;tWd all extsi7z04 is;'.::` '
<br />+trodl7!!cadions, sutsfrlieorts and renewals thereof,
<br />{b) payment of all Mai sums, tees or changes. fociether with interest theteon advanced to protect ilia security o• fhls Deed of T`hrst and
<br />Me p**w nance of the covenants and agr� of Trusiw, whether or'not set (forth herein.
<br />(c) parb-mance. discharge of and camoNance-witlr every term. covenant, obligation and agreement of Trustor cer*ained herein or
<br />incorzi clrated by reWW& or err +qt r. seor,�j instrument at anytime given to secure the Note, and -
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<br />in repayment of aN other sums or future aEf?i es, with interest thereon, which may heretofore t aim been of hereafter be advanced
<br />by Beneficiary to Trustor or TmsWs successor in interest or title,
<br />all of which is heroina/loer coNectrvely called the "Indebtedness -, Trustor irrevocably grants and translws to Trustee.. in trust, MTH POWER
<br />OF SALE, VW"0" described pu pmly:
<br />IH SOUTH ONE —HALF OF THE NORTH ONE —TIM (S } , N
<br />LOT EIGHT (8), BLOCK SIXTY —FOUR (64), ORIGINAL. TOWN OF-
<br />GRAND ISLAIM, HALL COUNTY, tiER ASKA
<br />together with (r) all buildings, structures, additions, enlargements. modifications., napatrs, replacements, and Improvements now or hereafter
<br />located thereon, (x) all equipment, machinery and fixtures (including, withoul,vinp.szron, all lighting, heating, ventilating, cooling, air
<br />conditioning, sprinkling wrO plumbing fixtures, water and power systems, er. elms, boilers, ranges. ovens, dishwashers. mirrors and mantels,
<br />carpeting; fumaces, oil ba nits, elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical
<br />equipment, storm and sc?ten windows,doors. awnings and shade! .-vw or hereafter attached to, or built In, any building or improvement
<br />now or hereafter located thereon, (iii) all easements andrights of w.ay appurtenant thereto, pv), all feasehold estate, right, title and interest of
<br />Trustor in and to all leases, whether now or hereafter existing or erivred into (including, without limitation, all cash and security deposits.
<br />advance rentals and deV.,6As or payments of a similar nature), pertaining W, e. ew, (v) all rents, issues, pro fits and income the refrom- Isobject
<br />to the tight of Trustor to Osct and apply such renfa, r•-saues, profits and inccwre as they become due and payable so long as no (vant of
<br />default exists hereunde+). (v4 all royalties, mineral, oil and gas rights and profits, water, water tights, and (water stock; (vii) all tenements,
<br />hered senor ..:.,WIvileges and appurtenances belonging, r+sed or enjoyed in connection therewith, s- zi ;kdtl) all pros- woe of conversion,
<br />vokattary oririuv. of any of the foregoing into cash or liquidated claims (including, without &:tic'::' °: !e, proceeds eptinsurance and
<br />condemnation awards). all of which Is hereinafter collectively called the "Trust Property".
<br />TO PROTECT THE SE r!JRITV OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES A$ +'FOLLOWS:
<br />1. Tide. Trustor covenants, warrants and agreez iwth Beneficiary, its successors and assigns, that Tr istor owns the Trust Property free
<br />from any prior lien or encumbrance, that this teed of Trust is and will remain a valid and enforceable first Uert e.i the Trust Property,
<br />that Tffa w, at Its expense, wiN preserve such title and s+ F+r.:':^naintain this Deed of Trust as a first and paranmum, flan upon the Trust
<br />Proper'y and wiil forever warrant and defend the vabd+r'y r amt priorily of the lien hereof against the claims of e'il persons and parties
<br />whomsoever. Trr, VVr, at its expense, will cause this Deed al Trust, and each amendment or supplement hereto, to be filed w►d
<br />recorded as a matt+ .page of the Trust Property in such mariner and in w.,h place and will take such action as in the opiNCAcr,Trustee
<br />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
<br />be anterided or supplemented from time to time. Trustor will make such further astl,F3nce or assurances to perfect its title to the Trust .
<br />Pwprprlyr as may be required by Beneficiary. Trustor hereby relinquishes all right ahMww and homestead in and to the Trust Properrr° .
<br />2. Psynw,,i of Indebtedness. Trustor shall punctually pay the principal of and interest on the lndebledness secured hereby.
<br />3. Corfahxlon of krouvotnerrts. Trustor she, + 1,alete in good and worim+arAke manner any buddeWK improvements or repaw_r r Wing
<br />dw tdi which nVy'.M. begun on the Trust Pm p" or contemplated by the barn evidenced by ft JR:tte secured hereby. f+s 9ey when
<br />dui+. *costs and iatthies Incurred therefore, and not to permit any construction lot a:egainst such •Trust Prgper!y, in the event
<br />conrmacom of bi"ngs, impertntntsnts or repairs are cortiramplated, Trustor sisc ,garages, anything in tltiq Oied r;` 7ruat to the c0ntr47
<br />no"ifhstarx" (a) to promptly commence, any such wont and to complete the piwsed improv8r,1 -1!L r.; ia�r^,�t: r, id) to complete the
<br />sarhe' in accordance with ft plans and specifications as approved by Beneficiary, (e) to corrr,'Y bK;;" a% t"* harms of s hushing loan
<br />agrowmit, it any, bMveen Trustor and Beneficiary, the terms of which are incorporated tt[Nek= +L re /erenre rH;,d made &Rol hereof,
<br />(d) to allow, BwwkAwy to Inspect the Trust Property at all times during construction, and (ej to repiace any wz* or materials
<br />unsabsfacto y to Beneficiary wfthln fifteen (15) days after written notice from Beneficiary of such fact.
<br />4. Funds 01 or Payment of Charges. Subject to appltcolo law or to a wrKen waiver by Beneficiary, Truster shall pay to Beneficiary on the
<br />IkW 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
<br />(h ralndfer calved ilia "Funds') equal to 1112th of the yearly taxes and assessments which may attain priority over this Deed of Trust
<br />acrd ground nits on the Trust property. it any. plus It 12th of the yearly premium Instalknents for hazard insurance, plus It 12th of the
<br />yearly pwniurn installments for mortgage Insurance, it any, all as reasonably estimated Initially and from tir %# tro lime by Beneficiary or,
<br />Mrs basis of assessments and bills and reasonable estimates thereof The Funds shall be held in an rnsm-Onm_ Me deposits or
<br />accounts of wlrch w insured or guaranteed by a federal or state agency including Beneficiary. Beneficiary shall apply fhg Funds td
<br />pay said taxes, assessments, insurance premiums and ground rents. Beneficiary shall not be required to pay Trustor any,rMiirest Of
<br />erMngs on the Funds. Bon eficiary shelf give to Trustor, without charge. an annual accounting of the Funds showing credr?s,and
<br />debit to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for
<br />ft inch0o l wet secured by this Deed of Trust If the amount of the Funds held by Beneficiary, together with the future monthly
<br />instafltnents of Funds payable prkw itt the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the
<br />amount required to pay said taxes. assessments, insurance premiums and ground rents as their fall due. such excess shall b©. at
<br />Trusto.'s optitxr. &O w promptly repaid to Trustor or credited to Trustor against future monthly itt.wallments of Funds It tpw tmtaunt of
<br />the Funds haled by B000klary shaM rot he sufficient to pay taxes, assessments, insurance prentiurms and ground refits as thov fall due.
<br />Trushw sham pay to sores iciary any amrwrtr necessity to make up rite deficiency within thirty days from the data notice is fnailed by
<br />sonehc:iary rot Trusoo requitshng paymertf thereof. Upon pa ymetrt to full of all indebtedness. Venefro ary shall prurriptly refund to
<br />TfusW any Funds held by bonefic+ary If the Trust Itruperry is scrld under the Fowet of sato or rite Ttust f rolreny is atlterwlstr auqu+tcit
<br />by Ike: s!t vary. Etstnofie+ary nihal) apple. r,nuredmiely prior to Uru Sato of II+Q Try t Proporty or its an: rlui .i1,4111 b0 Hcr,Torrr. r, try. oily Funds
<br />rfirl t+jr 13/�lilk"ray Ur the Npe 0 a ipr't utlurr Q , a creorit arla,'nsr rho IndNlitedrieSS' /! 1.} ©tit; firt ,4ry r r(,:t crt(: ; ti :tirrttr'it waivot tit Tr(r':I4 rr c
<br />Qtr 14'4111; {iri(7Ear rills pailagraph 4. Trust& 4•Vuen,ntS 3ttrf ogreeN t") pjjr ht law Ilia Fortin bit 11111f) (tu "nilu(,rit 11:1 tat(( ti
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