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<br /> . Deed o1 Trust . _ -._=-�i-��.-
<br /> _' _..i. B�WK$ • /T r �O O O�O �IuA41. -.�.�3.�--�__'-'
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<br /> .,�� 19 Decerober 90 H. EuRene 8lehou and
<br /> � g 0 Op TAUS 1s mad th s day oJ .19�,b y and between �." ' ,.• ' �� _?
<br /> �H D E
<br /> �la ine .1. B ia oa. l�ua a n d a n d i f a �v h e t he► e a m o r e,(h e r e l n o f t e r c a l l a d t h e"T i u s 1 w"), � ,
<br /> wNose m�t!!np addre��S Route 3 ox ran s an . e rae t ca 6@�1 , ••
<br /> � NOAWEST BANR Nebras , Nationa Aseociation (he►elnaRe�celled the"Tiustee"),whasernaiAnp address�a �
<br /> P 0 Hox 1768 Grand Island,_NE _ �rtd NOR1NEST AAAfK Nebrr�� A ation 1 so a ion (he�e(naRe►
<br /> W/�I qN••gweeQcliuy'),whose malflnp addresala p• 0 Box 17b8-, Gran Ie an ._e rae �� .
<br /> ,
<br /> WITNESSEIH:
<br /> � IF THIS 80X IS CHECKED( �THIS DEED OF TAUST CONSTIIUTES A CONSTRUCTIqN
<br /> SECUAITY AOREEMENlT UNDFA THE NEBRASKA CONS1'AUCTION LIEN ACT AND CREATES, �
<br /> OAANTS AND COIYSFI•7fJTES A CUNSTAUCTION SECURfTY INTEREST IN THE PROPERTY �
<br /> DESCRIBEDNERElNBCC�YY. THIRTY FOUR THOUSANU TWO HUNDRED NIN�TY SEVEN �
<br /> WNEREA T r s Indebted to Ber+e�ciary�n the pnr+cipal sum of � 5 31100 ---------°°--�---°°"'°"' �
<br /> DoJlars(S �4 �•�3 ),whichlndebtedness ls e�ndenced by Tiusto�'s promissory note detod Dece er , 1� .Ihe►oinatter
<br /> ciUled the"Note'�,payable to the ader ol BeneNciary and lwving a matu�lty ol Januarv 2 , 1494 �
<br /> NOW,THE'REFORE,la the purpase ol secudng:
<br /> (e) payment of the IYote.Mgether wi,'h��7mresf thereon.�afe char��s,fo�payment penaldes,any lutu►e advances,and au oztens+vns.
<br /> modlBcetlons,suDstittrtitirs an�c9 rangwAls thereol. �
<br /> � (b) payment o!all oOher su�ma,1eeS or cna�yes,tog8fhe�wilh interest thereon,a¢n�anCed to proteCt the secu4�ry a�rhis Dead o��'tisr anc� . ,
<br /> the porbrmance oi the cavananis and agreemenls af Trusta,whethe►or not set�arih hereln. i , �,,
<br /> (c) pe►lormance, dlscha�ge o�and compllance wllh every term,cavenent,obNgatlan end ag�eemen;09 Trusta canta,ned hereln a • . �;;
<br /> ,• ,�� Jncorporated by re/eience or any othe�secudry insf�ument at anytlme given to aecure 1he Note,end ��:���
<br /> ' �" � (d) the►epayment o l a l l ot her sums a f u fLre a dv a n C e s,w l t h i n t e r e s t f h e r e o n,w h l c h m a y h e r e t o l o r e h a v e b 8 en or hareaAe�6e advanced •, f.i
<br /> ���',� by Bene/1clary to Tnrsta w Trusta's successo�in lnterest or Htle, I � ��"�
<br /> .� � aU o/which is herelnaRer cnUect�very called the"Indebtedness",Tiusbi Inevoca+bly grants and translers to Tr��stee,in huaf, WITH POWER i .
<br /> OF SALE,the/olbwlnp descdbed properry:
<br /> Lots Three (3), Four (4) and FivE (5) . Block Ninety-Seven (9Z), �
<br /> • "' , Seciion Sixteen (16), platted as Railroad a�ldition to the C�ty
<br /> i
<br /> • of Grand Island, Nebraska. t '�
<br /> � .
<br /> ��,� ', together wlth(!)alf bulldings,sl�ucfures,addftions,anla�gements,mod►licahons,repelrs,replacements,end improvements nuw�r l�araaf�er ' -
<br /> ��,� , located thereon,(1!)ell equipment,machinery and/ixtu�es(lncfuding,without 1lmltadon,aI1IlghNng,hea6ng,ventifafing,cooling,aIr %� '
<br /> condJdoning,spdnkJing and plumbing fixfures,wate�and power systems,englnes,boilers,ianges.cvens,dishwashers,minors and mantels, }
<br /> �• � � ceipetlng,lumaces,oil bwne►s,elevetors and motors,refrlgeradon plants or units,tommunlcation systams,dynamos,trens/omiers,elecfrlcal � , � . .
<br /> � equJpment,sto�m and scieen wlndows,doors,awNngs and ahades)now or hereA�er attached to,a bu1H!n,any bu!/ding or improvement , , .��•
<br /> �. now or herealterloCated thereon,(iif)all easements and nghls of way appuKenant rhereto. (iv), all leaseho/d esrale, �lght,tide and lnterest of ;� :,.,.��•!��.
<br /> '. ', i 5 �.�
<br /> � Trustorin and to al/leases,whether now or hereaRer exlsting or entered lnto(IncludMg,wlthout IimitaGon,ap cash and security deposlts.
<br /> �'� • edvance�entals and deposits or payments ol a simller nature),per►alning the�eto,(v)all rents,issues,p►o%ts and income the�elrom(sub�ect ! ' ',�
<br /> . •�'�` fo t�e rlghf ol Trus[or to cdlect and app/y such rents,issues,prolits and income as they become due and payable so long as no event of
<br /> ".;, • default exlsfs hereundor),(vf)all royal6es,minerel,oll and gas rights and profits,wafer,water rights,and water slock,(v!!)all tenemenfs, -
<br /> � ,;{, hereditaments,pdvifeges and sppurtenances belonging,used o►en/oyed In connechon therewith,and(vNl1 aH proceeds o1 aonverslon,
<br /> � � voluntary a invduntary,01 any o/rhe�oregomg lnto cash or liquidated clalms(including,wJthout limitatlon,proceeds ol lnsuience and ) -J�
<br /> � �,�� '! Condemnailon awards),a!!o!whlch Is hereinafler collecNvety celled the"Trust Properiy". , � '"�
<br /> TO PROTEC7 THE SECURITY OF 7HIS DEED OF TRUST,TAUSTOR COVENANTS AND ACiREES AS FOLLOWS: �
<br /> �� > ' f. THIa.Trustor covenants,wananls and agrees with 8eneficiary,ds successors end assigns,that Tiustor owns tha Trust Prope►ty fiee
<br /> .,r � hom any prior l�en or encumbrance,that thls Deed o!Trust is and will remain a valld and enlorceab/e lirst lien on the Tiust Properry.
<br /> .-;� � , that T�ustor, at its-a.rpense,will preserve such litle and wilf mamteln this Deed ol Trust as a lirst end paramount lien upon the Tiusf •
<br /> .�'.`.' ,•, Property and wil!farever warrant and deJend the velldity and priority o/fhe lien hereol against the clelms ot ell persons and parties ,
<br /> s ' whomsoever.7�usfor,at!fs expense,wlll causo�his Deed ol 7rust,and each amendment or supplement here[o,to be liled and
<br /> . �;;, . recorded es a moRgage of the Tiust Properry in such manner and in such place and will fake such acUOn as in the oplrion ol Trustee
<br /> may be requ�red��any p►esent o�lu►ure law in order to perlect, maintain and protect the llen of thls Deed o! Trust,as mv same may
<br /> be amended or supplemented lrom time to t/me.Trustor w�ll make such lu�ther assurance o;essurances to perfect 1ts hHe to the Tiust
<br /> Prope►fy as may Ce iequlied by BeneBcian/. Trusto►hereby relinquishes all►ighf o/dower and homestead m end to the Tiust PropArry.
<br /> 2. Peyment ol lndebtedness.Trustor shall punctually pay the pnnapal o!and interest on the Indebtedness secured hereby.
<br /> 3. Consductlon of Improvements•T�ustw shall complete in good and wo►kmanlike:nanner any buildings.�mprovements or�epaiis rela6ng
<br /> thereto whlch may be beguo cn the 7�us►Property or contemplated by the loan evidenred by fhe Note secured hereby,to pay when
<br /> , due al!costs and lfabilities lncuned therato�e,and not to permd any constrochon lien against such 7rust Property.In tha event
<br /> consVucUon o�buildings,+mprovemenrs c►repaus are contemplated, Trustor a/so agrees,anythmg m this Deed ol Trust to the Contrary
<br /> nofwithsfanding;(a)to promptry commence any suCh work end to complete the proposed improvements arompdy,(b)ro complete the
<br /> � � same in eCCOrtlance wrth fhe plans and specilicafions as app►oved by Beneliciary, (c)to comply witn all t�e tem►s o/a bullding loan
<br /> � ag�eer+aent, il any,between Tiustor and 8erreliciary,the te►ms aI wh�ch are mco►porated he�em by ieference and made a pert he�eol.
<br /> � fd)to allow 6eneflciary to Inspecf 1he Trusf Pioperty af all hmes dunng consfruchon,and(e)to�eplece any wak a matenels
<br /> `� unsatisfaCtory to Beneficiery wdhrn IiReen/15�days efte►wntten nohce lrom Benelic�ary ol such/ect.
<br /> � 4. Funds la Payment af Charges Sub�ect tr arvn�ab����w nr m�t wnry.�n w,a�vr�hy F3nnPfirvary Tius�nr shJll p.iy f0 BC��h��Jry�'^.'"i�
<br /> hrsf day of eaCn r^onth.or such ofher Uate ea�n nwnth ds may be spec�hed by Benehciery.unfd tl+e Indobledness�s pa�d�n full,a su,'�
<br /> (hereinefler called the"Funds")eQual to 1 12th o/lhe yeaHy taKes end essessments whrCh mey attem pnonty over this Deed of Trust
<br /> and ground renfs on fhe T►ust Property,if eny,plus 1 12th ol fne yeaNy prem�um mstallment�lo►hazard insurence.plus 1'12th o/the
<br /> yea►ly premlum(nsfallments lar mortgage insurance,�f any,all as�easonably eshmafed�nihally and Irom hme to hme 6y 6enehciary on
<br /> . the besis o1 essessments and bills end reasonable eshmetes thereof The Funes sha�l be neld+n an msbtuhon.the deposrts or
<br /> accounfs of whrch are msuted or guaranteed b y e federal or sfate agency mciudmg 6ene/�c�ary Benefiaary shalf apply the Funds to
<br /> pey said faxes.assessment�.msu►ance pre�*�ums and grountl renrs. tienenc�ery snan nor oe requ�reo iu puy T.u�iu.ar�y����o�osP o:
<br /> eamrngs on the Funds. Ben$l�ciary shall g�ve'o Trustor,w��hout charge,an annual accaunGng ol the Funds showing c►edrts and
<br /> deb�fs to the Funds and the purpose for wn�cn each deb�t ro fhe Funds wes mede. The Funds are pledged as add�!rvnal secunty lo►
<br /> the IndeDtedness secured by r.a,s Deed ol Tiust Ir the amcunt ol the Funds held by Bene��c�ary,togethe�w�rh rhe�u�o�e montnly
<br /> �nstallments of Funds peyab�e pno�to the due�ates e/taxes.assessments.�nsurance d�4nwms artd g�ound ren�s s^�all exceed the
<br /> amount►equired to pay said tar�s.gssessments.msurance prernwms and ground re��s as ttiey ral�C.:e.s.:ch excess shan be.et
<br /> TruSto/5 ophOn.edher promptiy repeid to Trusta�or c�ed+fed t, 7�ustvr aw a•^st lutuie mer,��y ms:a�'r^ents cl Fur+tls Athe amount of
<br /> the Funds hefd 0��Benefrua�j shal:rot be sutl�crent to�ap far�s.assesy^�ants.�RS��ance c�en:�„+^s an�y��u^d rents as the�ta��d�e
<br /> I r�usto►shall pay to Benef�cra:�any amounr necessary fa r�ake ,.p fhe tleliC�enCy wRh��t~^� ltd;/S��C'�'P�dale npttCe�5 medeU Cy
<br /> � eene�rc�ary to rr�src.reques:r-y,�ayment the�eo� Upon C��r"'�nt�n/uN o/aii�ndetrtea�-ess ��ne��c�ary sha��c�cr�c����e�uno to
<br /> Trustw any Funds held by Benel�c�ary I►the?rust Properry is sold unde��he power c�s.�t�:�fhe T�usf Preperry�s e►nerwrse ac0u��eQ
<br /> . � by Benehc�ary Ber+ef�aary sna11 appty �mr�e.�ately pno�to�he sale o�the r�u.sr Properry c��ts acau•s•rron by Be�e��c�ary an y Fu�ds
<br /> held G y 8enehc�ary at fhe t�me o7 apAnca��c�ss a c�edrt agams[the lrtdectedr*ess rr eP�e��c�ary A�nt,�es a wntten �va�ve�o�T�usrc•s
<br /> f� obl�gaUOns under rn�s parag►3Rn a �r�stor covenants and agrees to pa�. oe�are rrre sa�ne ner,r,r-r��•rquert au ta�ae5 d55eS:;R"�?"s
<br /> �� NC�:.�•Vr.� .a iyn.s�.s .
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