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<br /> �� � �-,��-�� Deed of Trust
<br /> "_��� 94_ ic�ti7s
<br /> _�.�.,� �""�
<br /> 1 ,��''��, tH1S DEED OF TRU&T le m�de thl� B d�y d F�bruary_�,��94 ,by����� xe�d and A�ed. Inc. � --
<br /> �,:,.ti, a N�braaka Corooration wh�tMron�amon,(Mnlndtocall�d th�"Tiusta"), -----
<br /> '� ,.,; . , . whos�mallln�addnaala P 0 Box 1Q15 Crand Island, N� 68802 , ��;R_^�
<br /> •- .� , ryR� ,���� �'t� .J �02�STBANK ,and NORWEST BM1K e r8st an�Nit�on�a�Aisoc�a�f�l►na�malu��!t —.�u .---^_
<br /> �; . .y , c�JNd dN"BaNNclary..)�whoa maiNnp edd�e�a Ja n � . �;�_'-_
<br /> ..,,r � �-'=_�r�.ti:�
<br /> .._ 1. . WITNESSETH: �''.�'F,'°�:`r-",'
<br /> �1K � �r.� ���•31�:Y�=—.—
<br /> ,I fF THlS 80X IS CNECXED g7( J TH1S OEEO OF TRUST CONSTITUTES A CONSTRtICTION +y����--=_
<br /> '...t.��t. `��'.�.-+' ��.�)!� � ^ ..�1QFiYy';.a-�
<br /> a,:-:�� SECURITY A�REEMENT UNOER THE NEBAASKA CONSTRUCTION LIEM ACT AND CREAlE�, ..���„,�.�_--.-
<br /> �•;�� ' ` GRANTS AND CONSTITl1TES A CON5�RUCTION SECURITY fN�EREST!N 7HE PROPERTI' � '`"'"--
<br /> ,�,,'T,'.LT�"_�e_-�.
<br /> � DESCRIBED HEREINBELOW. `�°'` ''-"�`
<br /> � =�" '" WHERF./IS TiuB r is/ debted to 6eneNclaryU the pdnclpal sum of ^uF vtrnmnrr.n 'Pt_1FNTY FTVR THAIiSANi� j►� NOI100--- • ti , �:
<br /> ;$rs" ��..,�,�..��-_�_�._
<br /> _�.i Dollars(S.3�J.whJch indebtedness!s evldenced by Tivata's promissory note dated February S , 1D�.(herelnalt�i �
<br /> !�'' , called tlr�"Note'),paya6ls to the adar ol8enellclary and havinp a mAturlry o/Au�ust 10 , 1994 _.
<br /> .;. � NOW,THEREFORE,for the pLrpose ot secudng: `"-
<br /> ( ) P Y ��:��'==_�
<br /> a a ment o/the Note,together wJth 6ite�est thereon,lato charpos,prapayment penalttea,any luture advances,and aJl extenslons, r.r,s�:-
<br /> modlNcadons,aubsUtudorts and renewafs thereol, �'r;'�'°--'
<br /> (b) payment of all other sums,lees or charges,topeiher with Interest thereon,advanced ro protect th4 aecurity o/thla Deed o/Tiust and �i K�_
<br /> the perMrmance o!the covenants and apreemenis ol Tiustor,whether a rat set lorth hereln, � �`'_ _
<br /> • (c) perlormance,dlscharqa o/and compllance wfth every term,covenant,obllgaUon end agreement of�rusror contalned hereln or �"4' �� , _
<br /> lncaporeted by reference a any other socudty instrument at anyGme piven to secure the Note,and P�_
<br /> (d) the repayment of alt other sums or luture advances,wlth Interest thereon,which may hereto%re have been a he�eafter be advanced ;-.� ..
<br /> by 8eneflclary to Tiusior or 7rustor's successa!n interest or dtle, '"'" " -__
<br /> ail of which!s herelnaRer collecUve/y called the"Mdebtedness",Tiusta Inevocably grents end trans�ers to Trustee,!n host,WITH POWER ,. ,.�;.
<br /> OF SALE.the lolbwlnp described property: ''�" . -�
<br /> Lot Two (2), in Block One (1), Brentwood Second Subdivieion in the � -----
<br /> F -t�
<br /> City of Grand Island, Hall County. Nehraska "
<br /> ,.,���.
<br /> , ���
<br /> xothr,r witir i tlll LuitJin s,�structures,addlifons,anlargements,rrrodllicadons,ropalrs,r�plecements,and Jmprovements now a hc+restter �1�s='`_. -
<br /> ated thereonj,(!!)all equlpmenL machlnery and lixterres(lncluding,without Ilmitatlon,al!JlghBng,heating,vendJadng,cooling,air �""!�
<br /> condlUoning,spdnkfing and plumbing/ixtures,water and powersystems,engines,bollers,�anges,ovens,dfshwashers,mino�s and mantels, "",.b'4�`�
<br /> ce�pedng,fu►naces,oll bumers,elevato►s and motors,re/rlgeration plants or units,communkatlon systems,dynamos, hans�ormers,elecblcal �='+�f 5.
<br /> equlpment,storm end screen wlndows,doors,awnings and shades)now or hereafter attached to,or bullt In,any building oi lmprovement . _
<br /> now or hereafter located thereon,(i!!)all easements and dghts o!way appurtenant thereto,(!v),all/easehold estate,rlght, fitle and lnte�est o/ "'�
<br /> Trustor!n and to all leases,whethe�now or herealter existing or entered into(including,wlthout limitatio»,al/cash and securiry deposits,
<br /> � advance rentais and deposits or payments of a simllar nature),penaining thereto,(v)all rents,Issues,p�olits and lncome there/rom(subject � -
<br /> to the dght ol Trusto►to co�/ect and apply such rents,/ssues,profits and lncome as they become due and peyable so/ong as no event of �
<br /> delault exlsts hereundei),(vl)alJ royeltles,mineral,oil end gas nghts and prolits,weter,wafer��ghts,and water stock, (vi1)a!1 tenements, ,
<br /> t heredltaments,prlvileges and appunenances belonging,used or enjoyed in connection the�ewilh,and(viii)all proceads�f converslon, �
<br /> voluntary ar Involuntary,of any of the/oregoing into cash oiliquidated claims(including,without Nmltallon,proCeeds of lnsurance and ,.
<br /> condemnatfon awards),alf of which!s he►einafler colleclively called the"Trust Pioperty". s
<br /> TO PRO7ECT THE SECURITY Of THIS DEED OF TRUST, TRUSTOR COVf(YANTS AND AGREES AS FOLLOWS:
<br /> 1. Tltle.Tiustor covenanGS,wanants and agrees with Beneficiary,its successors and essigns,that Tiusto�owns the Tiust Properry Iree
<br /> /iom any prior lien or encumbrance,that thls Deed oi 7iust is and wilf remafn a valid and enfo�cesble lirst lien on the Tiust Property, �
<br /> that Tiustor,at its expense,wil!preserve such title nnd will maintain this Deed ol Trust as a tirst and pn�amount lien upon the Trust
<br /> Pioperty and wJll lorever warrant and de%nd the validiry and prlonry ol the lien hereof against the Garms of a!t persons and parties •
<br /> whomsoever.Trustor,at!ts expense,will cause this Deed of T�ust,and each amendment or supplemenf hereto,fo be liled and
<br /> reCOrded as a morlgage o!the Trust Property m such mannei end�n such pface and wil!take such action as�n ihe opin�on ol Trustee
<br /> may be�equi�ed by any presenf o►lutu►e faw in order to perfect,maintain and protect the lien ol this Deed ot Trust.as the seme mey
<br /> be amended or supplemented from hme to t�me.Trustor will make such further assurance or asswances fo perfect�ts tiHe to the Tiust
<br /> Property as may be required by BeneJ�aary.Trusto�horeby rel�nqmshes atl right of dowe�and homestead�n and to the Trust Property.
<br /> .� 2. Payment ot/ndebtedness.Trustor shall punctually pay the principal ol and interest on the indebtedness Secured hereby.
<br /> • 3. Constiuction o/lmprovements.Trustor shal/complete m good and workmanl�ke manner any burldmqs.impiovemenis or�epairs relat�ng
<br /> � fhereto whlch may be begun on the Trust Property or contempleted by the loan ev�denced by the Note secured hereby,to pay when
<br /> due a!!costs and liabilities incurred therelore,and not to pennd e��y consbucGOn 6en egamst such Trust P�operty.ln the event
<br /> . construction ol buildrngs.imp�ovements or repairs a�e contemplated. Trustor also agrees,anyth�ng m th�s Deed o�T�ust to the conbary
<br /> nohvithstending;(a)to prompdy commence any such work and to complete the p�oposed�mprovements prompfly, (b)to complete the
<br /> • � seme!n accordance wdh the plans and specilications as approved by 8enel�c�ary.(cl to comply with all the terms o1 a build�ng foan
<br /> ' agreement,!f any,between Trustor and 8enehcrary.the terms ol wh�ch are�ncorporated herem by�elerence and made a part hereot,
<br /> - (dJ to ailow 8erre/iclary to inspect fhe T�ust Property at all bmes dunng construcGOn,and(e)to�eplace any work Or mate►ials
<br /> unsatislactory to Beneficiary withm IiReen(15)days aNer written notice lrom BeneGcfary of such 1act.
<br /> 4. Funds/or Payment ol Charges. Sub�ect to apphcebie law or to a written waiver by 8enel�c�ary.7rustor shalf pay to Benelra�ary on the
<br /> lirst day o/eaCh month.or SuCh other date each month as may be specd�ed by BeneGc�ary.undl!he lndebtedness is pa�d m full.a sum
<br /> � , (herernalter cailed the"Funds"') equal to 1 12th o/the yearly taxes and assessments wh�ch may atta�n pnonry over this Oeed o�Trust
<br /> and ground�ents on the Trus�Property,�l any,plus 1 12ti�ol the yearly prem�um installments lor hazard i.nsurance.plus 1 12th ol the
<br /> , yearly pramium in;ta!/monts lor moRgage rnsurance.rl any,al!as reasonabiy eshmated rrnha!!y and/rom trme to ume by 8oncrraary on
<br /> � � the bas�s o/assessments and b�lls and reasonable esnmates thereo�. The Funds sha11 be held m an�nshtut�on.the deposets or
<br /> L I accounts o/which are msured or guaranteed by a ledera�or state agency mclud�ng 8enelicrary.Bene/iaary shall apply the Funds ro
<br /> ....r.a�........ ..a. . ....rt.. .,.1.nnro Aannli��un.chall nnf hn runiainii fn nav TiUCtnr AIIV 1711HIAC1 AI
<br /> ...... .vnvu. ................. ...........................n� .n..
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<br /> ' earnings on the Funds.8enel�c�ery shall g�ve to Trustor,w�fhout charge,an annual accounhng of tne Funds show�ng cred�ts and
<br /> � de6its to the Funds and fhe purpose lor wh�Ch each deb�l to the Funds was made. The Funds are p�edged as add�t�onal securiry�or
<br /> , the lndebtedness securod by fhrs Oeed o/Trust.1/the amount of the Funds held by 8ene6aary.together wnh the luture monthly
<br /> rnstallments o�Funds payeble pnor to the due dates o/taxes.assessments.insurance prem�ums and ground renls. shall exceed the
<br /> ' emount requi►ed to pay sa�d taxes.assessments.inswance premwms and ground rents as they lall due.such excess shan be.at
<br /> Trustor's option,edher prompfly repard to Trustor or credded to T�usfo�aga�nst luture monfhly installments ol Funds 1/the amount ot
<br /> the Funds held by Bone/rciary shal!not be suH+c�ent to pay taxes.assessments,�nsur�nce premrums anci ground rents as they�aN due.
<br /> 'y I Trustor Shall pay fo Benelrc�ary any amount necessary to make up the del+c�enc y w�thin thvty days from the dato nntice is maded by
<br /> � � BeneliCisry to Tiustoi requesUng payment thereof Upon payment m/uil ol all Indebtedness. Benel�Cr�ry shau prompdy relund to
<br /> ! I Tiustar eny funds held by Benet�aary 1/fhe Trust Property�s sold unde�the power o!sale or the Trust Property�s otherw�se acqwred
<br /> by Benelrc�ary. BeneHaary shall appty,immedrately pr�or to tho sele ul ihe Trust PropeKy or rts aCqwsrhon by Benelrciary.any Funds
<br /> I hefd by Benehc�ary et the Irme ol apphcatron as a cred�t against the Indebtedness It Benehciary executes a wrrtten wa�ver ol Trusror s
<br /> _ ; oWigahons under fhrs paragraph 4. Trusfoi covenants and agrees b pay.belore the same become de6nquent. ai�taxos.assc�ssments.
<br /> hi�. •u•.,. ., r��..•ra.e r••�, •
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