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<br /> 99 110878 �'
<br /> CONSTRUCTION SECURITY AGREEMENT �
<br /> DEED OF TRUST �
<br /> �
<br /> Intending to create a construction security interest in accordance with the Nebraska Construction Lien Act, � �
<br /> this DEED OF TRUST is made as of the 1�`day of NOVEMBER, 1999 by and among the Trustor,DALE L. SKOW d
<br /> AND SHIItLEY SKOW A/K.A SHIRLEY M. SKOW whose mailing address for purposes of this Deed of Trust is
<br /> 2320 N HOWARD, GRAND ISLAND,NEBRAKSA 68803 (herein, "Trustor",whether one or more),the Trustee,
<br /> AREND R. BAACK, Attorney at Law, a member of the Nebraska State Bar Association,whose mailing address is
<br /> P. O.Box 790, Grand Island,NE 68802-0790(herein"Trustee"),and the Beneficiary,HOME FEDERAL
<br /> SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND,whose mailing address is P. O.Box 1009, Grand
<br /> Island,NE 68802-1009(herein"Lender").
<br /> FOR VALUABLE CONSIDERATION,including Lender's extension of credit identified herein to DALE L.
<br /> SKOW AND SHIltLEY SKOW A/K/A SHIItLEY M. SKOW(herein"Borrower",whether one or more), and the
<br /> trust herein created,the receipt of which is hereby acknowledged,Trustor hereby irrevocably grants,transfers,
<br /> conveys and assigns to Trustee, IN TRUST,WITH POWER OF SALE,for the benefit and security of Lender,under
<br /> and subject to the terms and conditions hereinafter set forth,legally described as follows:
<br /> PARCEL 1: LOT TWELVE(12),BOSSELMAN SECOND SUBDIVISION, AN ADDITION TO
<br /> THE CITY OF GRAND ISLAND,HALL COiTNTY,NEBRASKA
<br /> PARCEL 2:LOTS ONE(1)AND TWO(2),KIRKPATRICK SUBDIVISION,IN TI�CITY OF
<br /> GRAND ISLAND,HALL COtJNTY,NEBRASKA.
<br /> PARCEL 3: A TRACT OF LAND COMPRISING TF�NORTH NINE(9)FEET OF LOT N1NE
<br /> (9), ALL OF LOT SEVEN (7) AND T�-�E SOUTH THIRTY-FOUR AND TWENTY-FIVE
<br /> HUNDREDTHS (3425) FEET OF LOT FIVE (5), ALL IN BLOCK SEVEN (7), OF
<br /> LJNIVERSITY PLACE, AN ADDITION TO THE CITY OF GRAND ISLAND, HALL
<br /> COUNTY,NEBRASKA.
<br /> together with all buildings,improvements,fi�ctures, streets,alleys, passageways, easements,rights,privileges and
<br /> appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits,reversions and
<br /> remainders thereof,and such personal property that is attached to the improvements so as to constitute a fi�ure,
<br /> including,but not limited to,heating and cooling equipment and together with the homestead or marital interests,if
<br /> any,which interests are hereby released and waived,all of which,includin�replacements and additions thereto,is
<br /> hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoin�being
<br /> referred to herein as the"Property".
<br /> This Deed of Trust sha11 secure(a)the payment of the principal sum and interest evidenced by a
<br /> Construction Line of Credit Draw Note dated NOVEMBER 1, 1999,in the original principal amount of FIVE
<br /> HUNDRED FIFTY THOUSAND AND 00/100 Dollars($550,000.00),having a maturity date of DECEMBER 1,
<br /> 2014 unless the eazlier ca11 options therein contained shall be exercised by the Beneficiary,together with any and all
<br /> modifications, extensions and renewals thereof or thereto and any and a11 future advances and readvances to
<br /> Borrower(or any of them if more than one)hereunder pursuant to one or more promissory notes or credit agree-
<br /> ments(herein called"Note");(b)the payment of other sums advanced by Lender to protect the security of the Note;
<br /> (c)the performance of all covenants and agreements of Trustor set forth herein;and(d)all present and future
<br /> indebtedness and obligations of Borrower(or any of them if more than one)to Lender whether direct,indirect,
<br /> absolute or contingent and whether arising by note,guaranty,overdraft or otherwise. The Note,this Deed of Trust
<br /> and any and all other documents that secure the Note or otherwise executed in connection therewith,including
<br /> without limitation guarantees, security agreements and assignments of leases and rents, sha11 be referred to herein as
<br /> the"Loan Instruments".
<br /> TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br /> 1. Pavment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br /> �
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