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<br /> - -���� --.-;. Deed of Trust
<br /> - ;� � _:r��:� g4-inp�►
<br /> `x':,i�:�''�� eiw�cs
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<br /> • ai•��++�'i��`' j TNIS DEED OF TRUST/a madl EIII�.�.L�—day ol Fehru�x, , 1�.9�1.,by NM b�fWN^T e�a�� Rs��17 x Q�a ta++rint� 7±+e_
<br /> • whsMNr on�a mon,(IMnlnalfa cafl�d tM"Trwtor'J.
<br /> , �; �� whos�ma!lln�eddr�taa Ja
<br /> �•.��.•: ���r_:•�:, Nebras Nat o so iation (henlnafta ca1Nd th�"Ti�uatN'),whoa maAlny�aldnas N
<br /> , N20fiW�ST�a gt Grand Island. NE ,a xORWEST gA�yK �{�^� �_.
<br /> � �02 W. 3rd St. .ran n ttnd. N8
<br /> " :: calNal th�"�Hclary'7,whos�malNnp addnss la • �-
<br /> . , � W/TNESSETH: -
<br /> -'���,
<br /> -_.�, ;� . • !F THlS BOX IS CHECKEn( J THIS DEEO OF 7HUST CONSTITUFES A CONSTRUCTIDN �_
<br /> — �� SECURITY AQREEMENT t/NDER THE NEBRASKA CONSTRUCTlON LIEN ACT AND CRFATES.
<br /> -�-_ � ORANTS AND CONSTITUTES A CONSTIit/CTIOM SECURIlY fNTERF.ST IN THE PROPFRTV �-=
<br /> ��'�°�t'�^''��'°~' ��"'w � DESCRIBEDHEREINBELOW.
<br />__y=•'�- �" t• WHEREAS,Tiusto►!s lndebted to BenefiClary 1►t the princlpa!sum o/ Fourteen Thousand and_no/100•----------------- ��
<br />-.��,_,�:,, . Q,pp�(s lit'�00_00 ),whlch lndebtedness!s evldenced by Tnrsta's promissory note dated Februarv 1 ,�p,�,p�r�lnalta --
<br /> caAed the"Note'),payable to the ader o/BeneNclary end havinp a matudty ol ruary 27 , 1 a08
<br /> _;;=r� • ', NOW, THEAEFORE,lor the purpose of secudnp: �.�
<br /> , _,: (a) psyment ol the Note,toqether widr lnterest therear,late charqes,prepeymsnt pena►des,any lutura adwncea,and aN oxta�slo+is, �.1=
<br /> • ' • •�. .�;. modlfkatkns,aubsdtuGons and renowals U►ereof,
<br /> ` ` V (b) payment o/all other sums,leea or cherges,together with lnterest thereon,edvenced to profect tha s�curiry of thJs O�od o/7ivat and _
<br /> the per/amance o/the covenants and egreements ot Trr�stor,whethar or not sef forth hereln, �-
<br /> (c) peAormance,dlscharye ot and aompllancA with every term,covenant,obllga8on and agreement o/Tiusta contelned hereln or �_
<br /> . incapaated by re%rence a any other secadtylnsGument at enytlme givon to secme the Note,and
<br /> ;' (d) the�epayment of all othar sums or luture advances,wlth lnte�est thereon,whlch may heretolore have been or herealter be edvanced - --
<br /> ' ' ; by BeneHciary to Trnstor or Tiustor's successaln lnterest a tltle, ��_�
<br /> � �. a!!ot whlch!s hereinatter collectiveJy called the"Indebtedness",Tiustalnevocably pranta and ber !era to Tiastee,!n trest,WITH POWER
<br /> � „� --
<br /> OF SALE,the folbwing descdbed properry:
<br /> • Lot 1, Hermes Subdivision� City of Grand Island, Hall County, Nebraska, subject to an
<br /> easement over the Westerly 20 Feet for ingresa and egresa of motox vehicles to and from =
<br /> � • Lots 2 and 3 in Hermes Subdivision, City of Grand Island, Nebraska. as surveyed, platted
<br /> and recorded. �
<br /> together wlth(1)ap bulldings,sbuctures,additions,enlargements,malilicnfiurzs,rapa/rs,replaeamanis,and lmprovCmsnts rto�or hereefMr =
<br /> , /ocated thereon,(U)ai1 equlpment,machlnery and llxtwes(lncluding,wlthout!!mltet/on,al!Ilghdng,heating,ven7laiing,cooling,alr -
<br /> conditioning,spdnkling and plumbing tlxtuies,water and power systems,englnes,boflers,►anges,ovens,dishweshers,miriors and mantels,
<br /> ! ca�peNng,lumaces,0!1 b�mers,elevato�s and motors,refilgeraUon plants or units,communlcatlon systems,dynamos,transformers,e%ctricei
<br /> � equlpment,storm and acreen wlndows,doors,awnings and shades)now or herealter attached to,or bullt In,any bulld/ng orlmprovement
<br /> ' now or heresfter locatod thereon,(ifl)al!easements and rlghts of way appuRensnt theieto,(!v),a!I leaseho►d estate,dght,tltle and lnterest o/
<br /> Trusta in and to a!t leases,whether now or hereaRer ex/sting a entered lnto(lncluding,w(thout limltatlon,alt cash end secu�lry deposlts, _-
<br /> � advance�entals and deposits o�payments o/a slmllar nature),pertelning the�eto,(v)a!!rents,Issues,proflts and lncome therelrom(sub/ect
<br /> to the rlght of Tiastor to coflect and apply such ronts,issues,prolits end lncome es they become due and payab/e so fong as no event of ��-'
<br /> default exlsts hereunder),(vl)alf royaldes,mineraf,oIf and gas rights and profits,water,wate�dghts,and wate►stock,(v/1J a!!tenements, �'
<br /> he►edllaments,privlleges and appurtenances belonging,used or en�oyedln connection therewith,and(v!i!)aU proceeds o/conversfon, �; -_
<br /> voluntary orinvoluntary,ol any of the foregoing Into cash o�liquldated clalms(Jncludiny,wlthout llmltat/on,proceeds of lnsurence end
<br /> . condemnat(on awards),aJ!o/whlch!s herelnalter coflectively called the"Tiust P�operty". � �
<br /> TO PR07ECT THE SECURITY OF 7H/S DEED OF TRUST, 7RUSTOR COVENAN7S AND AGRFES AS FOLtOWS: � �
<br /> � 1. Tltle.Trastor covenants,warrants and agrees wlth 8enef/ciary,fts successo�s and asslgns,that Tiustor owns the Tiust Properry fiee
<br /> ' ' trom anypdor!!en o►encumbrance,thet thls Deed of 7rust!s end wil!�omain a vafld and enlorcesbte first Ilen on the Tiust PropeRy, �
<br /> ' � that Tiustor,at Its expense,will preserve such title and w!!I malrttsln thrs Deed ol Tiust as a first and peramount 11en upon the Trust :
<br /> � Pioperty and wlll Jorever warrant and defend the validity and prio�lry of the tren hereof agalnst the clalms o/all persons end panies �
<br /> whomsoever.Trustor,at its expense,wiU cause this Deed ol Trusf,and each amendment or supplement heieto,to be fiJed and `
<br /> recorded as a mortgage of the Tiust Property in such manne�and in such place�nd wiU take such actlon es fn the opinlon o�Tiustee
<br /> may be requlred by any present or tuture!aw in orde�to pedect,malntain end protect the lien ol this Deed o/Trust,as the same may
<br /> � be amanded Gr suppiemented from time to Nme. Trustor wif!make such lurther assu�ance or assurances to per/ectlts tltle to the Trust
<br /> Pioperty as may be�eQufred by Beneticiary. Trustor hereby relinquishes ell rlght of dower and homestead!n and to the 7iust Pioperty. •
<br /> � 2, Payment of Indebtedrtess.Tiustor shalf punctuaHy pay the Arinclpa!of and►nterest on the lndebtedness secured hereby.
<br /> � 3. Consfructlon ol lmprovements. Tiustor shall complete in good end workmanlike manner any buildings,improvements oi repalrs relaNng
<br /> f the�eto whlch may be begun on the Trust Property or contemplated by the/oan evidenced by the Note secured hereby,to pay when
<br /> 1 due all costs and Ilabt!!tles incurred the�e%re,and not to permil any construction fien agalnst such Trust Property.In the event
<br /> construction ol burldings,Impiovements or repai►s are contemplated, Trustor also agrees,anyth(ng In this Deed of Trust to the contrery
<br /> notwithstanding;(a)to prompMy commence any such work and to complete the proposed improvements promptly,(b)to complete the
<br /> , � same In accordance with the pfans a�d spocr!lcat/ons as�pprovctl by Benefrcrary,(c)to comply with al►the torms of a bu!lding loan
<br /> sgreement,i!any,between Tiustor and Benelicisry,the terms of which a�e incorporated herein by relerence and made e pa�t hereol,
<br /> (d)b ailow Beneficlary to lnspect the Tiust Property at al►times during construcNon,end(e)to replace any woik or materials
<br /> f unsaUsfactory to Beneticiary withln li/teen(iS)days atter written notice lrom Beneliciary ol such lact.
<br /> � 4. Funds la Peyment of Che�ges.Sub/ect to appllcable!aw or to a w�itten watver by 8eneliciary, Tiustor shal/pay to Benetir.(ary on the
<br /> ; Nrst day o(each monti�,or such ofher date each monfh as mey be spec(/ied by Beneliclary,untll the Indebtedness Is peid!n lu!!,a sum
<br /> Y (herefnaRer celled the"Funds")equaf to f�t 2!h o/the yearly tnxes and assessments whlch may attaJn p�lority over thls Deed ot Trust
<br /> • � snd ground rents on the Trust Property,!f any,plers t i 12th o/the yoerty prem(um installments 1or hazard(nsurance,plus 1�12th o!the
<br /> yeady premlum installments fa moRgege(nsmance,It any,all as reasonably est►mated lnttlally and Irom time to t(me by Beneliclary on
<br /> the bgsis of assessments and bllls and reasonable estimates thereo% The Funds sha!!be held(n an institution,the depasits or
<br /> .�� :•, accounts ol whfch are(nsured a guaranteed by a lede►al or state agencylncluding Aenellclary.Benef;clary shall apply the Funds to
<br />� ----- � P8Y38/0l8X@B,ASS@SSfl1Bll[S,insurenceprorniunryaiwyiGuTiGioT�`w.;o��o+C7o�rJI1011IN14��oy�:"'.,�:Cr.:jT:«5:�.'�::j::•'��•"°���� �
<br /> . j eaminys on the Funds.Benel(ciary shall glve to Tiustor,without cha►ge,an ennuaf accounting of the Funds showing credUs and
<br /> ;. � . deblts to the Funds and the p�rpose for whlch each debit to the Funds was msde.7he Funds ere pledged es additionaf secuNty/or
<br /> � the Indebtedness secured by thls Deed ol Trust.I/the amount of the Funds held by Benefrcfary,together wlth the luture monthly
<br /> 'v , Installmants of Funds payable prla to the due dates o/taxes,assessments,lnsurance premlums and ground rents,sha11 exceed the •
<br /> amount►aqu(red to pay sa�d taxas,essessments,lnsurence premJums and ground rents as they lell due,such excess shafl be,at
<br /> ���u.•... • tr� Tiusta's opUon,elther prompdy repald to 7rustor a credited to Trustor ageJnst luture monthty lnstaliments o!Funds.!f the emount of
<br /> :� , the Funds hefd by BeneNclery shal!not be suHiclent to pay taxes,assessments,lnsurance promlums and ground rents as they lall due.
<br /> ' .r��»« - Tivator shaN pay to Bene/klary any amount necessary to meke up the dellclency wlthln thlrty days Irom the date notrce fs malled by
<br /> �, � Ber►ef/c/ary to Trusta requesdnp payirwnt thoreot. Upon payment(n IuJi o�aff tndebtedness.Benelic�ery shail promptly refund to
<br /> - - . �^' „�,� Tiustor�ny Funds held by BeneRclary.!I the Tiust Prope�ty!s sdd under the power ot s�le or the 7rust Property is otherw�se acqulred
<br /> �� ` ,'"� by Benaficlary.BensNc(ary shall�pply,lmmediatety pdor to the sele of the Trust Properry or lts acqulsrtion by BeneHclary,any Funds
<br /> ' ��,i'A?'`':��`'t " MrM by Bonalklary at the Yme ol app►lcadon as a credit agelnst the/ndebtedness.ll Benelictary executes a wrttten waiver ol Trusror's
<br /> �� _..- - • - oblipafkns unda�thlr pa►epraph�,Trusfor covenents end aprees ro pay,belore the seme becw»e definquent,al!taxes,essessments.
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