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<br />THIS
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<br />whose
<br />A
<br />Deed of Trust
<br />BANKS
<br />89-- 104851
<br />DF TRUSTismade this 31st day of August , 19 89 , byand between Roy D. DeMars and
<br />DeMars. husband and wife whether one or more, (hereinafter called the " T ustar' ) ,
<br />eddressis P.0. Box 321. Hastings, NE 58901
<br />NK (her�naft� ca�led fife '&sree" , base malting address is
<br />104R. Hastings. NE and NrsawceTRAme Die vas at ona Assoc3h1on /horornnrrn.
<br />calved the " Benefidary" ), whose mailing address is
<br />WITNESSETH: "
<br />iF THiS BOX IS CHECKED l ) THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECUR17YAGREEMENT UNDER THE NEBRASKA CONSTRUCTION UEN ACT AND CREATES,
<br />GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY
<br />DESCRIBED HEREINBELOW.
<br />WHEREAS Trustor is indebted to Beneficiary in the principal sum of Wenty Thousand and no/100 --- ----
<br />Dollars (t 26, 000, 00 ), which indebtedness is evidenced by Trustor's promissory note dated Auggst 31 , 19 , (hereinafter
<br />calved the " Nbte "), payable to the order of Beneficiary and having a maturity of January 4 ,
<br />NOW, THEREFORE, for the purpose of securing.
<br />(a,►: payment of the Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions,
<br />. 4modifications, substfl- A; nrs and renewals thereof,
<br />{) j)aymen of sU, cftrW s, fees crepfra ges, together with int't s^.# thereon, advanced to protect the security bf this lead of Trust and : • ;:
<br />of crrlenar `lard! agreements of Trustor 'wP,,.eMer or riot set forth heWn,
<br />(r , d /schary cTt ms^ oa elfe ter, covenant; obt%g&cn adagufaaent'of rr skiirrodmM4 herein br id a ih
<br />t�T 2ruo lit' Wporated'by refetwid.6 -.
<br />± lrr �ument at anytime givG{i fir r�- a:? , "ii v t1t��?,
<br />(ti) iis4repaymenI of alt oil; r surfs �r� e� `z7�s; with interest thereon, sirlitclt: iasA� y'ia t 1 ? tta + sl �►w or hereafter be advanced
<br />1�tiy 8enet7clary to Trustor or Teri ' is�r .?r; ;i; 4 erest or title,
<br />at at y rl r i h acainafter c0a Yveiy callers to "Indebr.miness", Trustor irrevacata' ;� .� atis a;,a� tr�rs:hic to :i>7���e fn, trri�;: fNlihl POWER
<br />OF �a'� ttrefa�faHrfng dgsccfi�d. property: ' . - .. ...
<br />See Attached Exhibit A.
<br />together with (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter
<br />located thereon, (ii) all equipment, machinery and fixtures (including, without fimitation, all lighting, heating, ventilating, cooling, air
<br />conditioning, sprinkling and plumbing fixtui es, 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, transfarmets, electrical
<br />equipment, stomt and screen windows,doors, awnings and shades) now or hereafter attached to, or built In, any building or improvement
<br />now or hereafter located thereon, (iii) all easements and rights of way appurtenant thereto, (iv), all leasehold estate, right title and interest of
<br />Trustor in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits,
<br />advance rentals and deposits or payments of a similar nature), pertaining thereto, (u)'all rantu, Issues, profits and income therefrom (subject
<br />to the right of Trustor to collect and apple such rents, issues, profile and Income as they became due and payabla so long as no event of
<br />default exists hemmnder), NO all royalties, mifteral, oil and gas rights andproffts, water, waterrigh(a, and water stack, (all) all tenements,
<br />hereditaments, wivileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including, without limitation, iv vc—eeds of Insurance and
<br />condemnation awards), all of which is herehrafter corlecttvely called the "Trust Property ".
<br />rig PROTECT THE SECURITY OF THIS I11X-D OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br />F, Title. Trustor covenants, warrants arid agrees with Beneficiary, its successors and assigrs, ' that Trustor owns the Trust Property free
<br />from any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceaVie &st lien on the Trust Property,
<br />that Trustor, at its expense, will preserve such title and will maintain this QKd of Trust as a first and rperemount lien upon the Trust
<br />Property and will forever warrant and defend the validity and priority of the lien hereof against the Vklm of all persons and parties
<br />whomsoever. Trustor, at its expense, will cause this Deed of Trust and each amendment cr supplement hereto, be filed and
<br />recorded as a mortgage of the Trust Property in such manner and in such place and waft tekr'- a i;!r action as ir, rte: opinion of Trustee
<br />may be required by any present or future law in order to perfect, maintain and protect the lien of rl lal.Ceed of Tea:; ;, as the same may
<br />be amended or supplemented from time to tima Trustor will make such further assurance or assura:sas to pE°! use its title to the Trust
<br />Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and home -VLad in ar d tcf the Trust Property.
<br />2. Payment of Indebtedness. Trustor shall punctually pay the principal of and interest on the indebtedness secured licreby.
<br />3 Construction of Improvements. Trustor shall complete In good and workmanlike manner any buildings, Improvements or repairs relating
<br />thereto which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when
<br />due all costs and liabilities incurred therefore, and not to permit any construction lien against such Trust Property. In the event
<br />construction of buildings, improvements or repairs are contemplated, Trustor also agrees, anything in this Dead of Trust to the contrary
<br />notwithstanding, (a) to promptly commence any such work 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 all the terms of a building loan
<br />agreement, if any, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a part hereof,
<br />(d) to allow Beneficiary to Inspect the Trust Property at all times during construction, and (e) to replace any work or materials
<br />unsatisfactory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact
<br />4. Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustor shall pay to Beneficiary on the
<br />first day of each month, or such other date each month as may be specified by Beneficiary, until the Indebtedness is paid in lull, a sum
<br />( hereinafter called the "Funds') equal to I/ 12th of the yearly taxes and r sseisments u►fatcl. may attain priority over this Deed of Trust
<br />and ground rents on the Trust Property, it any, plus. I/ 12th of tie yearly pretr-i,.rn instrdb irrts for hazard insurance, plus 1112th of the
<br />yearty premium Installments for mortgage insuragcv, if any, ail as reasonr&ly estimated iswl:::ly and gate time to time by Benet(cervry an
<br />the basis of assessments and bills and reasarivOO::stimos thereof. The R.,nds shall btu igid in an Institution, the deposit,, or!
<br />accounts of which are Insured of guaranteed by a federal brsrpte agency including Ben4tiary. Beneficiary shall rr ply t i,ru-ds to
<br />pay sand titans, assessments, insurance premiums and grugiid rents. Beneficiary shall nest be required to pay m4tet.:any interest or
<br />eami►rgd rm the Funds. Beneficiary shall give to i'ru=f, wit:'ailr charge, an annual accisirnting of the Funds show.ng credits and
<br />debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are P!edgod as additional security for
<br />the Indebtedness secured by this Deed of Trust. If the amount of the Funds hold by Beneficiary, toge(Per with the future monthly
<br />installments of Funds payable 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 fall due, such excess shall be, at
<br />Trustor's option, either promptly repaid to Trustor or credited to Trustor against future monthly installments of Funds. If the amount of
<br />Me Funds held by Beneficiary shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Trustor shall pay to Borrefrciary any amount necessary to make up the deficiency within thirty days from the date notice is marled by
<br />Beneficiary to Trustor requesting payment thereof. Upon payment Iry full of all Indebtedness, Beneficiary shall promptly rolurrd to
<br />Trustor any Funds hold by Beneficiary 9 the,Trust Property is sold under the power of sale Or the Trust Property is Wirer tense acquired
<br />by Benehatary, Beneficiary shall apply. ,mmodiafely prior to tho salon of tho Trust Property or its acqus,tron by Beneficiary. any Funds
<br />held by Beneficiary at tho time of application as a credit against tho lrrdvbterdness U Elonylrcrrtry execerteas a wntten w,?rver rl Trustor s
<br />obfrgatioris under rhrs paragraph 4, Truster Covenants and nyrer, : to pay, before rho sump hCCcimu iivAngc,onr .ail taxis, a : foss ►r units,
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