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<br /> Deed of Trusi
<br /> �e�nrvxs
<br /> � gg- 10 6 61�
<br /> � _TH15 DE D pF TRUST rs made Ph(s�—dey of. N9vember_ __ , 19�22,by and betwean Sr�Ly E. Valasak..$�de______,
<br /> Mary �. 'Valadek . Husband an Wife whethvr vno or moro, (hoteina(tot e�fl�td the"Trustor"),
<br /> whose meilin�address is 4009 Kav Avenue, Grand Ialand. Nebraska 6A803 �,
<br /> �RWEST BAN (her fnafter cal�th �rusiee'),whase mailing addrass!s
<br /> P.O. Hox 17� . Gren Fa and, NE ,andNORWESTBANK Nebrae�a, Nationa� Aseociation_,(hereinafter
<br /> called the"BeneNclary"), whose maiting address is p..p- 8��(z8a Gra�d Islamd. Nebraska 68803 �,
<br /> WlTNESSFTH:
<br /> !F TH/S BOX!S CHECKEO( J THfS DEED OF TRUS7 CONSTITUTES A CONSTRUCTION ,
<br /> � SECURITY AGREEMENT UND£'R THE NEBAASKA CONSTAUCTION LIEN ACT AND CRFATES,
<br /> ORANTS AND CONSTITUTES A CONSTRUCT/ON SECURITY INTEREST!N THE PROPERTY
<br /> + DESCRfBED HERFINBELOW.
<br /> � WHERE $� T1ussor� Inde6fed to Beneficlary ln the principal sum of FZFTY–TWO__THOUSAND AND NO/100--------_..________
<br /> � Dollars(s�`•u�o•�� ), whlch indebtedness Is evidenced by T�ustor's promissory note dated Novem er 2 , �9 89 , (herernafter
<br /> � called the"Note'),payabte!o the order of Beneficlary and having a maturiry ol May 29 ,199U ,
<br /> NOW,THEREFORE,for the purpose of seauring:
<br /> � (a) payment o1 the Note,rogethe�wJth Interest thereon,laie charges,p�epayment penaltles,any future advances,and a/1 exiensions.
<br /> mad'�f'icaUons,substitutions and renewals thereof,
<br /> � (b) payment o1 all other sums,fees or cha�ges,together with inte�est thereon,advartced to protect the securiry of thls Daed o1 Tiust and
<br /> Ithe pe►fo►mance of the covenants and agreements of Tiustor, wheiher or not sei foRh herein,
<br /> , (c) pedormance,discharge of and compliance with every term,covenanL obGgation and agreement of Trustor contair,ed herein or
<br /> , lncoiporated by relerence or eny oiher securiry instrument at anytime given to secure the lYate,and
<br /> (d) the repaymenf of aIl oiher sums or future advances, with interest thereon, which may heretofore have been or hereaRer be advanced
<br /> � by BeneFciary to Trustor or Tiustor's successor in rnteresi a title,,
<br /> � ali af whlCh Is hereinalter coilectively called the"Indebtedness", Tiusior inevocably grants and hans/ers io Tiusiee,in trust, W/TH POWER
<br /> ' OF SALE,ihe foJfowing described property:
<br /> ' LOT SIX (6) IN SUNSET FIFTH SIJ�DIVISION, CITY OF GRAND ISLAND,
<br /> ` HALL COUNTY, NEBRASKA "
<br /> �
<br /> � together with r)alf buildings,stiuctures,addiUons,enlargements,modifications,repairs,replacements,end improvements now or herealter � �
<br /> -. lacated thereon;{iil alf equipment;machlnery and fi�rturos linctudino.wiihoLf Nmitaffon;al!llohting,heatino;ventifatinn.caoling,air _ -
<br /> : cond'�ianirrg,sprinkl/rrg and plymbing�xtures, water and power sysiems,englnes,boilers,ranges,ovens, disi►washers,mirrors and mante/s, �-�-
<br /> carpeting,fumaces,oi!bumers,elevafors and mofors,refiigeration pfants or units,commurtication systems,dynamos,hansM�mers,elecirical ,
<br /> equipment.sto�m and screen wlndows,doors,awnings and shades)now or hereafter attached to,o�built in,any building or improvement ,
<br /> now or hereafter focated thereon, (iii)a/l easements and iights of way appurtenant therefo,(iv),all leaseho/d estate,right, iitle and interest o1
<br /> Trusto�in and ro alJ leases,whether now or heieafter exisdng or entered into(including, without limitaUon,all cash and security deposits,
<br /> advance renfals and depos+ts or payments of a simila�nafura),pertainrng ihereto,(v)a!/rents,rssues,profits artd income fhe►efiom(subjeci '
<br /> to the rlghi of Tiustor to collect and appty such renis,issues,pro�is and income as they become due snd payable so long as no event of -
<br /> default exists hereunder).(vr)a/i royalties,mineral,oil and gas rights and profris,water, water rights,and water stock, (vii)aU tenements, _
<br /> he�ed/taments.privileges and appuRenances belonging,used or enjoyed in connectlon therewith,and(viii)all proceeds o1 conversion, -
<br /> vo/untery orinvoluntary,of any of the loregoing into cash or liq�idated clalms(including, without limitation,proceeds of insurance and
<br /> conde�nnation awards),all of which!s hereinafter collec:�ve/y called the"Tiust Properry".
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGRFES AS FOLLOWS: �
<br /> 1. Tide. Tiusto�covenants.warranis and agrees with Beneficiary,its successors and assigns,thaf Tiustor owns the Tiust Properry iree
<br /> irom any prior lten or encumbiance,that th/s Deed of Tiust/s and wip remaJn a valid and enforceable�rst Jien on the Trost Property, ;
<br /> thaf Trustor,af its expense,w111 prese►ve such Gtle and w!!1 malntaln thls Deed of Tiust as a frrst and pa�amount lien upon the Tiust
<br /> Prope►ry and wiil forever wanant and defend the valldity and pdority of the lien heieot against the claims of al!persons and parties � �
<br /> � whomsoever. Tiustor,at its expertse,wi11 cause this Deed of Tiust,and each amendment or supplemenJ hereto,to be 1JIed and ,;
<br /> � reco�ded as a moRgage of the Trust Property In such manner and in such p/ace and wlil take such action as in the opinlon of Trustee ;-.�:•,
<br /> ! may be required by any present or future law ln o�der fo peAect,malniain and protect ihe lien of thls Deed o1 Tiust,as the same may . .
<br /> be amended or supplemenfed lrom time to time. Trustor wlll make such further assu�ance or assurances to perfeci its tit/e to the Trust •
<br /> Property as may be�equiied by Beneflclary. Tiusfor hereby relinquishes all right of dower and homesiead ln arrd to the Trust Properry.
<br /> 2. Payment of Indebiedrtess. Trustor shalt punctually pay the principa/of and inierest on the Indebtedness secured he�eby.
<br /> 3. Co»sbucdon of/mprovements. Tiustor shalJ comp/ete in good and workmanlike manner any bui/dings,improvemenis or repairs relabng
<br /> thereto wh�ch may be begun on the Trust Properry or coniemp/ated by the loan evidenced by the Note secu�ed hereby,fo pay when
<br /> due aif costs and liabl�ities incurred therefore,and not fo permit any construcUon IJen against such Tiust Property.In the event
<br /> ; cassUvciion of bulldings,Imp�ovemerrts or repeirs are contemplated, Tiefstor also egrees,anything in thls Deed ol Tiust to the conbary
<br /> . ' . notwithstandJng;(a)to p�ompGy commence any such work and to compfete the proposed lmp�ovements prompt/y, (b)to complete the
<br /> same in accordance with the p/ans and speci/ications as approved by Beneficisry,(c)to comp/y wfth a11 the terms of a bullding loan
<br />. ' , ag►eemerti,If any,between Tiustor and Beneliciary,ihe terms of which are lncorporated hereln by reference and made a part he�eof,
<br /> , (d)to allow Bene/iclary to inspect the Tiust Property at al!tlmes during construction,and(e)to rep/ace eny work or materlals
<br /> unsaUstectory to Beneflclary within lilteen(15)days after written notice tram Bene/iciary of such fact.
<br /> 4. Funds foi Payment of Charges.Subject to app/icable/aw or to a wdtten waiver by Beneficiary, Trustor shall pay to Benefir,iary on the
<br /> flrst day ot e�ch month,or such other date each month as may be specifred by Beneficiary,until the lndebtedness is paid in lull, a sum
<br /> (herelnalter called the"Funds')equal to 1/12th of the yearly taxes and assessments whlch may attain prloriry over this Deed of Tiust __ ___ _ _'
<br /> and ground rents on the Tiust Properiy,if any,p/us 1/12th ot the year/y premium instellments tor hazard lnsuience,p/us 1/12th of the �
<br /> yearly premium installments for moRgage Insu�ance,!t any,all as�easonably estimated in/tially snd fiom t/me to time by Bene/lciary on
<br /> the basis of assessmenis and bills and reasonab/e esUmates thereof. The Funds shall be he/d In an Institutlon, the deposrts or ;
<br /> accounts of whlch are insured or guaranfeed by a fede�al or state agency including Beneliciary. 8enefic/ary shall app/y the Funds to ;
<br /> pay saJd taxes,assessmants,insurance premiums and ground renis. Beneliciary sha/l not be reqvlred to pay Trusto�any interest or
<br /> earnings on the Furtds.Beneflclary sha!/give to Trustor,withouf charge,an annua/accoLnting of ihe Funds showing c�edits and
<br /> debits to the funds end tha purpose lor whrch esch debit to the F'unds was made. The Funds are pledged as additionaJ security for �
<br /> L the Indebtedness secured by this Deed of Trust.N the amount o1 the Funds held by Beneficiary,togather with the futu�e monthly
<br /> installments of Funds payab/e pria to the dus dates of faxes,assessmants,lnsurance premlums and giound rents,shall exceed the
<br /> amount required to pay said texes,assessments,Insurance premiums and ground rents as they lall due,such excess shall be,at �
<br /> T�ustoi's option,either promptty repald to Trustor or credited to Tiustor against/uture month/y insta►Iments o/Funds. N the amount o1 t�
<br /> the Funds held by Beneficlary shali nof be suf/icient to pay lexes,assessments,insurancs p�emiums and ground rents es they lall due, �
<br /> 7�ustor shall pay[o Beneficiary any amount necessary to make up the deliciency within thirty days lrom the dete notice is mailed by �
<br /> Benellciary to Trustor requesting payment thereof. Upon payment in lull aJ all Indebtedness. Benel�c�ary shall promptly relund to '
<br /> Trustor any Funds held by Benaf�clary. N the trust Prnperty is sold under Ihe power of sale o�the Trust property�s othenv,se acqu�rod �� ��
<br /> by Benel,clary,Beneliciery shal!epply, Immediately prlor to the salo ol the�rust P�operty or�ts acqws�tron by 9enel�ciary, any Funds
<br /> held by Benefiaary et the time ol appllcation as a cred/t agemst rhe Indebtedness If Bono6c,ary oxecufc�s a wrrtton wnrver of 7iusbr's
<br />-. obl+gations under this parag�aph 4, Trustor covononis and agreas fo n��y, balae tho samv bvcomp delrnquont, al!taxc�s. assossrnonts.
<br />. ..S A]'r�NoT�ac�a Os.y; �
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