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<br />-- _- -- -- Dead of Trust
<br />_ - VANxc
<br />21
<br />_ = the " Eteneficlary" ), whose mailing address is
<br />90-106664-
<br />November 19 90, byandbetweell H. Dale parsons also known
<br />i Husband & Wife whether one or more, (hereinafter called the "Trustor"'),
<br />at on (hereinafter called the "Tnlatae "), whose mailing address is
<br />NnWCCT OAAW Nahraska. Nations 1—Anfa CJA iQ1 - , (hereinafter { -- - - - -- - -- - - - --
<br />W)TNESSETH:
<br />IF THIS BOX IS CHECKED ) J THiS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECURITY AGREEMENT UNDF_R THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES,
<br />GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST iN THE PROPERTY
<br />DESCRIBED HEREINBELOW.
<br />WHEREAS, Trustor is indebted to Benehcrary, In mho principal sum of THIRTEEN THOUSAND TWO HUNDRED AND NO/ 100 - - - --
<br />w:s.� (S 13 0-00 ),which indebtedness is evidenced by Trustor's promissory note dated 19 9!L . (hereinafter
<br />payable to the order of Beneficiary and having a maturity ofNovember 15, 1995
<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 />modifications, substitutions and renewals thereof,
<br />(b) payment of all other sums, tees or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and
<br />the performance of the covenants and agreements of Trustor, whether or not set lorth herein,
<br />(c) performance, discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein or
<br />incorporated by reference or any other security instrument at anytime given to secure the Note, and,
<br />(dp 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 Truslor s successor in Interest or title,
<br />"a, - which Is hereinafter collectively called the "indebtedness ", Trustor irrevocably grants and transte•1s to Trustee, in trust, WITH POWER
<br />,� SALE the fallowing described property:
<br />Lot Eight (8), is Block Seventy– eIL4it: (78). in Wheeler and
<br />Bennett's Third Addition to the City of Grand Island, Hall County,
<br />Nebraska.
<br />buildings, structures, additions, enlargements, modifications, repairs, replacements., and improvements now or hereafter
<br />(n) all equipment, machinery and fixtures (including, without limitation, all lighting, heating
<br />ventilating, cooling, air
<br />-- sprinkling and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantefs,
<br />_ -- furnaces, oil burners, elevators and motors, refrigeration plants or units, commranication systems, dynamos, transformers, electrical
<br />- ` - storm and screen windows,doors, awnings and shades) now or hereafter attached tai or built in, any building or improvement
<br />r0: hereafter located thereon, (iii) all easements and rights of way appurtenant theretm. 00. all leasehold estate, right title and interest of
<br />_ =r_= in and to all leases, whether now or hereafter existing or entered into (including, wilhoua limitation, all cash and security deposits.
<br />- -_ -= rentals and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject
<br />- of Trustor to collect and apply such rents. issues, profits and income as they utm01r16u"ua and payable so long = no event of
<br />;exists hereunder), (vi) all mineral, off and gas rights and profits, water, water nights. and water stock, (vii) all tenements,
<br />privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion,
<br />y or involuntary, of any of the foregoing into cash or liquidated claims (including. without limitation, proceeds o9 insurance and
<br />aards); all of which is hereinafter collectively called the "trust Property ".
<br />w
<br />TO PROTECT TIfE SECURITY OF THIS DEED OF TRUST, TRUSTOR Cot ciVANTS AND AGREES AS FOLLOWS:
<br />1. Tntie. trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, that Truustor owns frte Trust Property free
<br />from any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien+ on the Trust Property,
<br />that Trustor, at its expense. will preserve such title anti will maintain this Deed of Trust as a first and paramount lien upon the Trust
<br />Property and will forever warrant and defend the validity and priority of the lien hereof against "_ "I ms Of all Omens and parties
<br />whomsoever. Truster, at its expense, Wiff cause this Deed of Trust, and each amendment or supp4ernent hereto, to be filed ono`
<br />recorded as a mortgage of the T�usr Frcperty in such manner and in such place and will take szre,� action as in the opinien ofT- iwstee
<br />may be required by any presenl or future law in order to perfect, maintain and pros 0 the Ren of trs Deed of Trust. as the Sara tray
<br />be amended or supplemented from time to time. Trustor will make such further r>lss+ av?ce or amiances to perfect its title to the ,Trust
<br />Property as may be required by Beneficiary. Trustor. Hereby relinquishes all rightcl- dinrrier w7d 1wrnestead in and to the Trust Property.
<br />2. Payment of indebtedness. Trustor shale punctually pay the principal of and interest, the lndefs7�tness secured hereby.
<br />3. Construction of Improvements. Trustor shall complete in good and w.cirf manlike rnalt7eraa. ?jf tlafidrVs. improvements or repairs ne(Wng
<br />thereto which may be begun on the Trust Property or canteMjolareOC by the loan ew�xe%uL-d i7-l4 ipe secured hereby, to pay «teen
<br />due all costs and liabilities incurred therefore, and not. to permit any construction is-r, aganst suciz., Trust Properly. In the event
<br />construction of buildings, improvements or repairs tire• colternplated, Trustor also a;lsss. this Deed of Trust to the contrary
<br />notwithstanding; (a) to promptly commence any such work and to complete the prc-l-c'sed u rprc� ;tVvents prcrr9614, (b) to complete the
<br />same in accordance with the plans and specifications as apprrve2 61t Beneficiary.; (O'to cotrr}ar, wth all the terms of a building loan
<br />agreement, if any, between Trustor and Beneficiary, the terms of l(Andt. are incorporated heren by reference and made a part hereof,
<br />(d) to allow Beneficiary to inspect the Trust Property at all times dunng construction. and (e) to rc-ulace any work or materials
<br />unsatisfactory to Beneficiary within fifteen (151 days alter written nonce 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. la Beneficiary on the
<br />first day of each month, or such other date each month as may be specified by Beneficiary, until the Indebtednness. is paid in full, a sum
<br />(hereinafter called the "Funds ") equal to 1 12th of the yearly taxes and assessments which may attain priority over this Deed of Trust
<br />and ground rents on the Trust Property, if any, plus 1-12th of the yearly premium installments for hazard insurance. plus - VT211m•o1 the
<br />yearly premium installments for mortgage insurance. if any, all as reasonably estimated initially and from time to time by Ilelleflciary on
<br />the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution• the deposit:;: ur:
<br />accounts of which are insured or guaranteed by a federal or state agency including Beneficiary. Beneficiary shall apply Iha -Funds to
<br />pay said taxes. assessments, insurance premiums and ground rents. Beneficiary shalt not be required to pay Trustor any interest or
<br />earnings on the Funds. Benehcrary shall give to Trustor, without charge. an annual accounting of the Funds showing credits 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 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. 9 the amount of
<br />the 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 Beneficiary any amount necessary to make rip the deficiency within thirty days from the date notice is marled by
<br />Beneficiary to Trustor requesting payment thereof. Upon payment in lull of all Indebtedness. Beneficiary shall promptly refund to
<br />Trustor any Funds held by Beneficiary. i1 the Trust Property is sold under the power of sale or the Trust Property is otherwise acquired
<br />by Beneficiary. Beneficiary shat) 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 delinquent. alt taxes, assessments.
<br />._ v +e• ur; � ss veo•as�e Ora•
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