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<br /> Deed of Tr�usi
<br /> BANKS
<br /> ��. iosa�s
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<br /> TNIS pEE�OF TRtIST is made this 9 _day ol Noveatber , �8�2,by and betwean •Lyle A. M�nchik and
<br /> � Anita M. Manchik. Huab�n and Wife whethe:oneormare,(here�natterCal�ed the"Tiustor'),
<br /> whosemaltingaddressls 1915 Weet CharipG; rrand Taland, Nebrae a bABn�
<br /> NORWEST BANK Nebraeka. National Aesociation (hereiRalter catled the"Trusiee'),whose ma!ling address is
<br /> P.O. Box 1�68, Grand Island. NE ,and N0�4WFST BAN�( ,(hereinafter
<br /> caNedthe'6eneficlary'),whosemallingaddressrs P•0. Box 17b8, Grand Island, Nebraska 68802
<br /> WITNESSETH.•
<br /> ; !F THfS BOX iS CHECKEO( J THfS DEED OF TRUST CONSTlTUTES A CONSTRUCTION
<br /> ; SECUR/TV AGREEMENT UNDER THE NEBRASKA CONS7R!ICT/ON L1EN ACT AND GRFATES,
<br /> • GAANTS AND CONSTITUTES A CONSTRUCTlON SECUAITY IN�EAEST IN 7HE PROP�'RTY
<br /> � DESCR/BED HERE/NBEtOW.
<br /> ; WHFREAS,Tiustorls indebted to Beneflciary in the princlpal sum of�$_E� HUNDRED TAOUSAN� t�m NO/inn_
<br /> D�o1lars(S�00.000.00 �,which indebtedness is evidenced by Tiustor's promissory note dated November 9 , �g 89 , (hereinafter
<br /> , caJlad rhe"Note"),payable ro the order of Beneficlary and having a maturity of December 28, �gg0
<br /> NOW, THEREFORE,for the purpose of securing: �
<br /> (a) payment of the Note,together with rnierest thereon,/ate charges,p�epaymenf penalties,any future advances,and all extenslons.
<br /> ; modiHcations.substitutlons and renewals thereof,
<br /> � (b) payment of ap other sums,fees o�charges,iogethe�wlth interest thereon,advanced to Aroteci the secu�iry of this Oeed of Trust and
<br /> the peiformance of the covenants and agreements of Tiustor, whether or not set foRh herein,
<br /> � (c) pedormanae,dlscharge of and compliance wifh every ferm,covenant,obligatlon and agreement of Trustor contained he�eir��r
<br /> i
<br /> incorporated by reference or any other security instrument at anytime given to secure the Note,and
<br /> + (d) the repayment of a11 other sums or future�dvances,with interest thereon, rifirch may heret�fore have been or hereafler be adi�anced
<br /> , by Benellc/ary to Tiustor or Trustor's successor in interest or titfe,
<br /> I aU of which is hereinafter colleciively called the"lndebtedness", Trersior l��evocabiy granis and transle�s to Trustee,in trust, W1TH POWER
<br />: ; OF SALE the followfng descri6ed properry: ,
<br /> i Lote One (1), Two (2), Three (3), and the Eaeterly One-Half (E 1/2) of Lot Four (4),
<br /> ; in Block Thirty-Three (33), being �artlp in Charles Wasmer's Addition to the Citq of .
<br /> � Grand Island and partly in Charles Wasmer's Third Addition to the City of Grand Ialand,
<br /> `' Hall Countq, Nebraeka and the Northerly One-Hal£ (N 1/2) of what was formerly the alley ' �
<br /> in said Block adjoining said 1ota.
<br /> `� bgether with(1)all bulldings,structures,additions,eNargements,modificetions,repairs,replacements,and imp�ovements now a heresfter � �
<br /> locatad thereon, (11)a11 equipment,machinery and�xhrres(Inctudiag,without Ifmitation,al/l/ghting,heating, veniilating,coo/inp,air i._=:'
<br /> �. � :.a.�it'a,�,n�,,�Fri.�kling s;,v j,iir,uul��y iixiuros,wafer and power systems,eng�nes,boilers,ranges.ovens, dishwashers,mi�r+�rs and mantels, . -- -
<br /> � carpedng,tumaces,oi!bumers,e%vators and motors,refrigerefion plants or units,communlcation systems,dynamos, bansfomrers,elecblcel �
<br /> � equipment,sMrrn and screen windows,doors,awnings and shades)rtow or hereaher attached to,or buililn,any building orlmprovement -
<br /> , now o�hereafter located thereon, (iJi)all easements and Nghts of way appunenant thereio, (iv),all leasehold estate,right, tiile and interest of -
<br /> � Trusior tn and to al//eases,wheiher now or herealter exisUng or entered inb(inG/uding,without limitation,a/l cash and securiry deposits, �
<br /> advance renials and deposits or payments of a slmilar nature).penaining ihereto,(v)all rents,issues,profits and Income therefrom(subject
<br /> � to the right of Trustor ro collect and app/y such rents,lssues,profits and income as they become due and payable so long as no event of � _
<br /> � defau/t exists hereunder),(vi)a1J royslUes,mineraJ,oif and gas righis and proCts, water,water rights,and water siock,(vii)all tenements, `■_�
<br /> � hered'�taments,privi/eges and appurienances belonging,used or enjoyed in connection therewiih,and(viii)s/l proceeds of conversion,
<br /> � voluniary or involuntary,01 any of the foregang into cash or liquldated c/alms(inc!'uding,without limitation,proceeds of insuiance and
<br /> � condemnaBon awards),atl 01 which is herelnafte�colk�ctively ca//ed the"Tiust Properry".
<br /> � TO PROTECT THE SECUR/TY OF TH/S DEED OF TRUST, TRUSTOR COVEN'ANtS AND AGREES AS FOLLOWS:
<br /> J 1. TiUe.Trustor covenants.wenants end agrees with Benefrciary,rts successors and assrgns,that Trustor owns the Trust Property lree �
<br /> fiom arey prior llen or encumbrance,that ihls Deed of Tiust fs and wi11 remaln a valJd and enforceable N�st/len on the Trust Property,
<br /> � thai Tiustor,ai its expense,wil!preserve such tiUe and will maintaln this Deed of Tiust ss a firsf and paramount lien upon the Trusi �
<br /> . Propr.►ty and will taever watiant and defend the validiry arrd prioriry of the lien hereof agalnsf fhe c/ains of a!/persons and paRiss '�,.
<br /> whomsaever. Tiusror,at its expense,will cause this Deed of Trust,and each amendment or supplerarent hereto,to be filed and � ;°.-�-
<br /> , recorded as a mongage of the Tiust Property in strch manne�and in such p/ace and will take s�ch action as in the opinion of Trusiee : �:-
<br /> � may be requlred by any present or tutuie law in order to perfect,mainfaln and protecc tKe lien of this Deed of Tiust,as the same may < .
<br /> be amended o�supplemenied/rom time to time. Tiusfor wi!!make such further ass�rarrce or assuracrces to perlect its title to tPre Tiust
<br /> Propeity as may be required by Benefic/ary. Trustor he�eby relinquishes a'1 right ot dower and herrestead in and to the Trust Property.
<br /> 2. Payment of Indebtedness. Tiusb�sha11 punctuaJly pay the principa!of arrd�i'nterest on the lndebtedness secured hereby.
<br /> 9. Consbuc0ion of Improvements. Trusfor sha/l canp/ete in good and workma�rlike manner any burldings,improvements or repairs refabng
<br /> , thereto which may be begun on the Trust Property or coniemplated by the/oan ev/denced by the Nofe secu�ed hereby,to pay when
<br /> due al!cpsts and liablli�es incuned therefore,and not fo permit any constructlon Uen against such Trust Properry.In the evenf
<br /> � consin,ciJon of build/ngs,lmprovements o�repalrs ere contemplated, Trustar also agrees,anything in this Uesd ot TrLSt to ths conirary
<br /> notwithstanding;(aJ to promptly commence any such woik and to compfete the p�oposed impiovements promptly,(b)to comp/ete the
<br /> ! same ln accordartce with the plans and specif/caiions as approved by Beneficiary, (c)to comply wiih a/i the terms of a buiJding loan
<br /> agreenoent,if any,between Trustor and Beneficlery,the terms of whlch are incorporated herein by reference arrd made a part hereof,
<br />. . (d)to a/law Bene;iclary to/nspeci the Tiust Property at a!I times during construction,and(e)to rep/ace any work or materials
<br /> unsaUsfactory to Beneficisry wiihin fifteen(15)days aRer w�itten notice lrom Beneficiary of such Jact.
<br /> .4. Funds for Payment ot Charges.Subjeci to appHcable law or fo a written waiver by Beneliciary, Trustor shall pay to Bene/!r,)8ry on the
<br /> first day of each month,or such othei date each monfh as may be specified by Benefrciary,unti/the Indebtedness is paid in fu//,a sum
<br /> (heielnaffer called the"Funds')equai fo 1/12th of the yea�ly taxes end assessments whlch may attain privrity over this Deed ol Trust �-�---
<br /> , . and ground rents on the Tiust Property,if any,plus 1 i12th o1 the yesriy premium insiellments lor haaard insurence,p/us 1/121h o/the '
<br /> year/y piem/um Installmerrts for moKgage insu�ance,i!eny,a!I as reasonably estimated init/ally and fiom time to time by Beneficlary on ,
<br /> the basls of assessments and bips and ieasonab/e estlmates thereol. The Funds shall be he/d in an insUtution,the deposits or ;
<br /> eccounts of whkh are lnsured or gua�anteed by s federel or state agancy inc/uding Beneficiary. Beneficiary shall app/y the Funds to ,
<br /> pay sald taxes,assessments,insu�ence premiums and ground rents.Benef�ciary shaq not be�equi�ed to pay Trustor any inte�est or
<br /> eamings on the Funds.Beneficiary shall give to Trustor,without chgrge,an annua/accounting of ihe funds showing credits and '
<br /> debits to the Funds end the pu�pose tor which each debit to the Furtds was made. The Funds are pledged as additiona!securiry lo� �
<br /> � the lndebledness secu�gd by thls Oeed of Tiust.II the amounf of the Funds he/0 by Beneficiary,together wit►r the Puture monlhly
<br /> installments o!Funds payabie prioi to the due dates ol taxes,assessments,rnsurance premlums and ground rents,shall exceod the
<br /> emount�equiied to pay said taxes,assessments,insurance premrums and ground ients es they!all due,such excess shaH be,at `r
<br /> Tiustar's option,eithe�promptly repaid to tiustor a►credlted to Tiusto�against/uture monthly mste//ments of Funds. //the amount o/ ~(p
<br /> the Funds held by 8eneficiary sha11 not be suNic�ent to pay taxes,assessments.mSU�anCe premrums and ground retits as thpy la/l�fiie, �lJ
<br /> TrustOr Shali pay to 8enelic�a�y 8ny amount neCess&ry to make up the delicrency w�lh�n thihy days Irom the dste notiCe�s mailed by ,' +
<br />; BeneCclBry to Trusta requeshng peymdnl the�eol. Upon payment+n lu!!ol a!I InUobtodnQSS.f3enehaary shall p�omptly rolund fn r� �
<br /> Trustor eny Funds he�d by Benabe�ary. ll the Trust Pioperty rs so/d under tne powar nt sn�e a thp Trust Proparry�s otnc�rw,se�acqu�rod
<br /> ey BenefiCiary, BUnoliciary sh�ll app/y,rmmod�nfvly pr�or to thv se/e of fhe Trust P�opttrty or ds Ftcqu�srtion hy B��:eh�iary,Einy Ftmds
<br /> held by�OnoliC+ary af the hme ol appl�catron as�Credrt ngainst!ho Indobtednoss 11 BE1nH1ic��uy t�xc�,'utes a wr�tiF•���v.�rvnr nl Ti��«�»t
<br /> obhgeGOns undoi Ihrs perag�aph 4. truslo�covan�infs nnd egrr�QS tn pny,he/o�e fhe samu hE�<�t»»e dFrlmqi�t�n► ,��i r,�■erti ,�.tise.ssrnen►s
<br />- .�.r:� �:a••e:,or,,.:,, �
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