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<br />
<br />
<br /> Maim"
<br /> Deed of Trust
<br />
<br /> .21411
<br />
<br /> THIS DEED OF TP.USrus made this 2_ day otJ2Q,=bc , it, 93--, by and betweon _19DAkcm _Bma ers._ Tnc. ,
<br /> whose mailing address is 2510 S. North Rd.. Gr~lnd I s 1rlg IR r one or mom' thereinafti r called ft '"Trm tor'"),
<br /> NORWESTBANK b &k ,~sLGagst~1 Assdciat on (hereinafter caged the'Trustee"), wirasemailing add-essis
<br /> ZQ1 W. , rd Sr _ ( 1t LI8la d- NE and NORWEST BANK Rahraska. National Assaciati an,,(hereineter
<br /> called the "Beneficiary") whose mailing address is Isliind. 68801
<br /> WITNESSE7H.
<br /> IF THIS BOX IS CHECKED ( J THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br /> SECURITY AGREEMENT UNDER THE NEBRASKA 'CONSTRUCTION IJENACT AND CREATES,
<br /> GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY
<br /> DESCRIBED HEREINBELOW.
<br /> WHEREAS, Truster is Indebted to Berleficiarl in the principal sum of UMty Seve~a_Thousand „Faye t:sindmSLand no/10,0---
<br /> Dollars which indebtedness Is evidenced by Trustor's promissory nob dated December 2-%, 19.9,:i_ , (hereinafter
<br /> called the ""Note""), payable to the order of Beneficiary and hawing a maturity o1 an m x949
<br /> NOW, THEREFORE=, for the purpose of securing:
<br /> (a) payment of the Note, tvgathsr with interest thomon, fate charges, prepayment penaltes, any future advances, and ag e~&tons,
<br /> modifications, substitutions and renewal; thereof,
<br /> (b) payment of all other sums, fees or charges, together with interest thereon, advanced to protect the securtty of this Oeed W Trust and
<br /> the ,O&;;rmanca of the covenants and agreements of Trustor, whether or not set forth herein,
<br /> (C) performance, discharge of and compliance with every term, covenant, 0*1atiorh and agreement of Trustor contained herein m
<br /> incorporated by reforn«ce or any other securfty inegument at enyrime ghee to secure the Note, and
<br /> (d) the repayment of all other sums or, future advancRs, with interest thereon, which may heretofore have been or hereafter be advanc.-9d
<br /> by Beneficiary to Trustor or Trustor's successor in irtersst or ode,
<br /> all of which is hereinafter coilev vely called the "indebtedness". Trustor irrevocably grants and transfers to ustee, in trust, WITH POWEFi
<br /> OF SALE, the following described property:
<br /> Lot 4, Grand island Industrial Park West Subdivision, City of
<br /> Grand Island, Hall County, Nebraska
<br /> together with (i) aIl buildings, srructurris, additions, enlargements, n;odifrcatiars, repairs, replacements, and improvements now or hereafter
<br /> located thereon, (ii; all equipment, machi: teryand , Ytuas !ircludinq, without Imitation, all lighting, hearing, ventilati ng, cooling, air
<br /> conditioning, sprinkling and plumNng fixtures, water and power systems, engines, bolters, ranges, ovens, dishwashers, mirrors and mantels,
<br /> carpeting, furnaces, oil burners, Qlevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical
<br /> equipment, storm and screen v.4rdows,doors, awnings and shades) now re hereefttarr attached to, or taunt in, any building or Improvement
<br /> now or hereafter located thereon:. (ii) all easements and rights of way appurtenant thereto, fty), all lease?hold estate, right, title and interest of
<br /> Trustor in and to ail leases, whether now or hereafte- existing or entered into (including, without limitation, all cash and security deposits,
<br /> advance rentals rind deposits or paynents of a similar nature), Pertaining thereto, (v) all rents, issues, profits and income therefrom (subject.
<br /> to the right of Trustor'o ;Oilecr arid a my such rants, issues, profits; and income as they become due and payable so long as no evq,. t of
<br /> default exists hereunCerl, (ri) all roya:ties, mineral, oil and gas rights and profits, water, water rights, and water stock, (vii) all tenements,
<br /> hereditaments. privileges and appurtenan;.es belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion,
<br /> voluntary or inyoluntsry, of any of the foregoing into cash or liquidated Claims (including, without h'mitation, proceeds of insurance and
<br /> condemnation awards), all of which is hereint;lter collectively called the "Trust Property".
<br /> TO PROTECT THE SECURITY OF THIS DEEV OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br /> 1. Title. Trustor covenants, wane:hts and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property free
<br /> from any prior lien or encum~ ranee, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property,
<br /> that rrustor, at i'ts eXtiPense, c.ill preserve such title and will maintain this Deed of Trust es a first and paramount lien upon the Trust
<br /> Property End will forgive: warrant and defend the validity and priority of the lien hereof against the claims of all persona and parties
<br /> whornscc wer. Trustor, ai its axpense, will cause this; Deed of Trust, and each amendment or supplement hereto, to be filed and
<br /> record,ec/ as a rrortgage of the Trust Property in such manner and in such place and will take such action as in the op,nion of Trustee
<br /> may be required by any Nrt sent or future law in order :o perfect, maintain and protect the lien of this Deed of Trust, as the same me y
<br /> be amended or supplemented frorn time to time. Trustor will make such further assurance or assurances to perfect it; title to the Trust
<br /> Property as rnav be, required by Beneficicny. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property.
<br /> 2. Payment of Indebtedness. Trustor shall punctually pay the p.ncipal of and interest on the indebtedness secured hereby.
<br /> 3. Constiicton of Improvements. Tn&tor shall complete in good aid workmanlike manner any buildings, improvement- or repairs relating
<br /> there-/o which may be begun or, the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when
<br /> duo call costs and liabilities incurred therefore, and not to permit any construction lien against such Trust Property. In the event
<br /> conrrtrucrion of buildings, is provements cr repairs: are contemplated, Trustor also agrees, anything it,, tf 'Deed of Trust t ~ w e contrary
<br /> not>othstanding; (a) to promptly com.men ^e any such work and to complete the proposed improvements promptly, (b) tr, ;oinplete the
<br /> same in accordance with the plans and specifications as approved by Beneficiary, (c) to comply with all the terms of a building loan
<br /> agreement, if any, between Trustor arid Beneficiary, the terms of which. ,-e incorporated herein by referencrt and made a part hereof,
<br /> (d) to allow Beneficiary to inspect the Trust property at all tirr-)s during co. rstructr'on, and (e) to replace any work or materi&ls
<br /> unsatisfa Vory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact.
<br /> 4. Funds for ,layment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustor hall pay to Benefiriary on the
<br /> first day of each month, or such other date each month as maybe specified by Beneficiary, until the lnd3btedn, ess is paid in full, a sum
<br /> (hereinafter ca/fed the "Funds') equal to 1112th of the yearly taxes and assessments which may attain 06011ty over this Deed of Trust
<br /> and ground rents or, the Trust Property, if any, plus ];12th of tike yearly premium installments for hazard insurance, plus 1112th of the
<br /> yearly premium: installments for mortgage insurance, r{ any, all as reasonably estimated initially and from time to time by Beneficiary on
<br /> the basis of assessments and bills and reasonable estimates thereof. The Funds snail be held in an institution, the' deDOSlfs Or
<br /> account; of which are insured or guaranteed by a federal or state agency including Beneficiary. Beneficiary shall app y tha Funds to
<br /> pay said taxr,s, assessments, insurance premiums and ground rents. Beneficiary shall net be required to pay Truster any interest or
<br /> earnings on the Funds. Beneficiary shall give to Trustor, without charge, an annual accour ting of the Funds showing credits and
<br /> debits to the Funds anc' the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for
<br /> the Irdebtr,dness secured by this Died of Trust. If the amount of th,3 Funds held by Beneficiary, together with the future monthly
<br /> installment's o! Funds KIuyabie prior to the due dates of taxes, assessments, insurance pnrmiurhs and ground rents, shall exceed the
<br /> amounnt required to p.a r . aid taxes, assessments, insurance premiums and ground rents as They fall due, such excess shall be, at
<br /> Trustor's option, eithe!, promptly repaid to Trustor or credited to Trustor against future mon'hll installments of Funds. If thv amount of
<br /> the Funds held by Serefic-,y shat no! be sufticien,'to pay taxes, assessments, insurance premiums and ground rents as ,they fall due.
<br /> TfLStOr s.ha!I pay to Ee-ieliriary an), amount necessary to make up the deficiency within '.hi•ty days from the date notice is mailed by
<br /> Beneficw'ry to T iustc - reques:i,ng jr ayment thereof. Upon payment in full of ail lndebtedne•rs, Beneficiary shall prompt!; rerund Co
<br /> Trustor any Funds geld by Beneficiary. If the Trust Property is safd cinder the power of sale or the Trust Property is otherwise acquired
<br /> by Bar ref ciary. Beneticitt.ry shat.' ~.PWY, rrtufted ately prior to the sale of the Trust Propery or its acaui 3ition by Beneficiary, any Funds
<br /> held by f:lenelic+arr- at the rime o. application as a credit against ft-e Indebtedress, ie Peneficiary executes a writtsr. waiver o! Trustor-s
<br /> cb: gar,wrs under ;r;:; oa.,agr3,pn Trustor cover; ants arid agrees to pay, 3e!ore tha same become de/irhquenr, ail tares, assessmenis,
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