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- Ds$d o} Trust
<br />'t)y§ er_ tiller Tile In= =Matarl
<br />� �_Q1;E0 OUR �fSt is mad this _Z____ day of _Pa ��— • t 9 -�- ` bW whether ono or more. ( hereinafter collect the "T� f� U310 -
<br />ddaaaras or oration _
<br />P_ a- Any 3211, 1;rand_L%Und_ Mphraialta 6RRO?
<br />mailing�aNd�dreNs�s�is��� ��eerr�ner clued the Trustee "). whose mailing address is
<br />O -Box 1768, Grand a an , NE ,andt ?fdK 1111Ai M Ne raeka National Associatia (herefrtaltsr
<br />_ •'- -_'_ ^Beneficiary' ), whose mafkng address is
<br />ax ran s an ,- Aebra9 a
<br />WITNESSETH:
<br />IF THIS BOX iS CHECKED / tTHiS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECURITY AND CONSTITUTES A CONSTRUCTION S SECURITY INTEREST IN THE PROPERTY ES
<br />DESCRIBED HEREINSELOW. TWFNTY EIGHT THOUSAND SIX HUNDRED FIFTY AND NO /1(b
<br />WHEREAS Trustor is indebted to Beneficiary in the principul sum of
<br />which indebtedness !s evidenced by Trustor's promissory trots died �iII1 r L , 19 �2Q— . (hereinafter
<br />the °Note' ), payable to the order of Beneficiary and having a maturity al ovember S g 5
<br />NOW, THEREFORE; for the purpose of secudng;
<br />(a) payrrtent of the Note, tegetlte► with interest thereon, late charges. prepayment penalties, any future advances, and all extensioru,
<br />modificefions, substttubons and renewers thereof,
<br />(b) payment of all other sums, foes or charges, together with interest thereon, advanced to project lire security of this Deed of Trust and
<br />the perfomranee of the covenants and agreements of Trusror, whether ar not set "herein,
<br />(c) performance discharge of and compliance with every term, covenant; obligation and agreementof Trustor contained herein or
<br />inoopporated Ityr reference or any other security instrerment at anytime given to secure the Note, and
<br />(d) the repayment of all other sums or future advances, wlflr interest thereon, which may heretofore have been or hereafter be adwitifm i
<br />by genefdary to Tastor or Trustor's successor in IWOMst: a title, rents and transfers to Trustee, in tilts!~ 4YRH POWER
<br />which is hereinafter collectively called the "indebtedness ". Trustor irrevocably g
<br />•' SALE, the following described property.
<br />Lots One (1), Two (2) and Three (3) in Block Seven (7) of Kernahan and
<br />Deckers Addition to the City of Grand Island, Hall County, Nebraska.
<br />with (i) arI buildings, structures, addiern %. Onlargements. modificab'ons, repairs, replacements, r, eTd•ilnprovements now or ftWOater
<br />() equipment, machinery errJ fixtures (nctudirt without limitation, all lighting, heatfrrrr vumVating. cooling, air
<br />�). aft 9.
<br />sprk►kling and plumbing fixtures, water and power systems, engines, boilers, ranges, oven; ��f:dnwaslters. mirrors an¢ -rrnlrW IS,
<br />furnaces, oil burners, elevators and motors, reMgereton plants or units, communication systems; ttj<nazras. urerstorme►s. aie-steal
<br />- - srofm and screen windows,doors, awnings and etades) now or hereafter attached to. or built in, a :y lltcl&Z( or frrtprovEment
<br />- hereafterlocated thereon. (iii) all easements and rights of way appurtenant thereto, (iv), allleasehc;d estate, n r�Irl:. r11-fe and interest o1
<br />and to all leases, whether now or hereafter existing or entered into (including, without fimitatia,T, roll cash and sr'YS ,7in`V depvs.1=.
<br />- - - - = -= rmttals and denocitc orpavments of a similar nature), pertaining thereto, (v) all rents, issues. nrohls. ractd incJ �^ra tisa efrom �srlt� act
<br />. the right of Trustor to collect and apply such rents, issues, profits and income as they become due r�ir -/4, X0016 se Fi- o: nO O'VPt Of
<br />exists hereunder), hereunder), (vi) all royalties, mineral, oil and gas rights and profits, water, water eWW3. en'd tr,Zsr stock, i 0',af tenements,
<br />es belonging, used or enjoyed in connection thr�•ee WYT,, a rd r t„z +i all procee t-s of conversion,
<br />privileges and appurtenanc
<br />or involuntary, of any of the foregoing into cash or►iquidated claims (including, acdircut 6iirn2irrm n:xeeds of insurance and
<br />_ - .. -• awards), all of which is hereinafter collectively called the "Trust Property"
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br />1. Tide. Trustor covenants, warrants and agrees with Benefciary, its successors and assigns. that riusiar owns the Trust Properro- tee
<br />from any prior lien or encumbrance, that this Deed Of rhast is and will remain a valid and enforcea4lg first lien on 11Te Trust Property.
<br />that Trustor, at its expense, will preserve such We and iota maintain this Deed of Trust as a first and paramodA, Iirin. upon the Trust
<br />Property and will forever warrant and defend the ca:- t 'I). and priority of the lien hereof against the daz-,3 Of all per =ns and parties
<br />whomsoever. Trustor, at its expense, mgidl cau8e fi`irs teed of Trust. and each amendment or suppremmM /TGrM. is be filed and
<br />recorded as a mortgage of the Tnist Propeo y in such manner and in such place and will take such aVIPW as in the opinion of Trustee
<br />may be required by any present or future rjv in order to perfect maintain and protect the lien of 1fTis i wd of T'LLst, as the same may
<br />be amended ersupplemel.Twd from time to time. TrL=r will make such further assurance or assurartces to pefet its title to the Trost
<br />property as ray be c egqurn3d by Beneficiary. Truster t;ereby relinquishes all right of dower and homestead in wTd° ru the Trust Properly.
<br />2. Paymentof gtdebtedness. Trustor shall punctually paja the principal of and interest on lire Indebtedness secured. I vxeby.
<br />3. Consbudon of improvements. Trustor shall complete in good and rkforimra alike manner any buitdmgs,. un pmvemer,m or repair, n laling
<br />thereto wlTich may be begun on the Trust Property or contemplated by :11te loan evidenced by lire al-13 secured hereby, to pay %Wton
<br />due all costs and liabilities incurred therefore, and riot rn permit any constriction lien against such 1 ust Fr4pe+v}r in the event
<br />conduction of buildings, improvements or repairs we • contemplated. Trustor also agrees, anything in this 06.ed of Trust to the contrary
<br />notwithstanding: (a) to promptly commence arty such. iwrk and to complete the proposed improvements promptly, (b) to complete the
<br />same in accordance with the plans and Specifications as approved by Beneficiary, (c) to comply with aff the• tt3411is of a building loan
<br />agreement, it any, between Truster and Beneficiary, the terms of which are incorporated herein by reference and made a part hereof.
<br />(d) to all"- Beneficiary to inspect the Trust Property at all times during construction, and (e) to replace any work or materials
<br />unsafislbdJaip to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact.
<br />4. Funds foe i?.jsment of Charges. Subject to applicable• law or to a written waiver by Beneficiary, Trustor shall pay to Beneficiary on the
<br />first day ofeach montft, or such other date each month as may be specified by Beneficiary, until the indebtedness is paid in full, a sum
<br />(htmilnaItw-called the "Funds ") equal to t 12th of the yearly taxes and assessments which may attain priority over this Deed of Trust
<br />and ground rents on the Trust Property, it any, plus I/ 121h of the yearly premium installments for halard insurance, plus 1,12th of the
<br />yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Beneficiery on
<br />the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution. the deposits or
<br />accounts of which are insured or guaranteed by a federal or state agency including Beneficiary. Beneficiary shag apply the Funds to
<br />pay said taxes. assessments, insurance premiums and ground rents. Beneficiary shall not be required to pay Trustor any interest or
<br />earnings on the Funds. Beneficiary shall give to Truster, without charge. an annual accounting of the Funds showing crodis and
<br />debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for
<br />the indebtedness secured by this Deed of Trust. If the amount of the Funds held by Beneficiary, together with the future monthly
<br />installments of Funds payab.'e prior to 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 they fail due. such excess shall be, at
<br />Trustor•s option. ether promptly repaid to Trustor or credited to Trustor against future monthly installments of Funds. It the amount of
<br />the Funds held by Benefcrary shall not be sufficient to pay taxes. assessments. ^Surance premiums and ground rents as they fail due,
<br />Trustor shall pay to Beneficiary any amount necessary to make up the deficiency wtth:n th. -Ity days from 'he date notice is mailed by
<br />Beneficiary to Trustor requesting payment thereof Upon payment in full of all Indebtedness. Beneficiary shall promptly refund to
<br />Trustor any Funds held by Beneficiary. If the Trust Property is sold under the power of swe or the Trust Property is otrerwise acquired
<br />by Beneficiary. Beneficiary shall apply, immediately prior to the sale of the Trust Property or its acquisition by Beneficiary. any Funds
<br />held by Beneficiary at the time of application as a credit against the Indebtedness it Beneficiary executes a written waiver of Trustor's
<br />obligations under this paragraph 4. Trustor covenants and agrees to pay. before the same become dertnquent, all taxes. assessments.
<br />11y •ye•v3 3 +, w,vr.+. 61u1
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