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<br /> i �.:�;�`���' �4 1O q Deed of Trust
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<br /> . „ , i. � BANNS f —
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<br /> �'' ''' THlS pE D pFTR�/ST am8 e�h ilth a ol �r�h ,19�,byartd beriveen Mitchell 3. .� _
<br /> .�.. .. aad �anice L. �inx�el�,1„ us an��nd w�£e- whether one a more,(herelnsfter called the"Tivator"), ��__- __
<br /> '�- , '� ,. ` ` whosemeJllrt�gwaddreasls 7.�� Church Raa - Grand Island NE 6880� ___ , � -
<br /> � NpA WEST OM�yK NL1IfYARtUA_ NAh�A11A�I A�awne3atien (herelnafteroalledthe"TiU8tB9).whosemallingaddressls t��=_---
<br /> ' " 8th b BuxllApttoa_- Hastinste. Nk ,end NORWEST BANK Nebraeka. Nat�anal Asseci tion ,(he/eln�lte� ��_-.---
<br /> ' � oa�led the"88nefklery"),whose malling addresa!s Sth b Buriin�ynn - Haetin�R� - 689A7 , -",_�,�;___
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<br /> � � wrrN�ssErH: .��
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<br /> " IF THIS BOX/S CHECKED(7IX )THIS DEED OF TRUST CONSTITUTES A CONSTfiUCTlON `'1'.r��:---
<br /> " � SECURITY AQREEMENT UNDER THE NEBRASKA CONSTRUCTION UEN ACT ANO CREA7ES, �•':•,.�.i.—
<br /> �� QRANTS ANO CONST/TU�ES A CONSTRUCT/ON SECURITY INTEREST IN THE PHOPERTY • -
<br /> ' � DESCRIBED HERElNBFLOW. ' , t�{�;'-- -
<br /> WHEREAS,TiastoNa indebted to 8eneflclaryln the princlpal sum of sixt Three Thousaad and n�100---------- '-f;,�;:f,,,:,�,�,
<br /> " " DoA&►8(S 63��00_�0 �,whloh lndebtedness!s evldenced by Tius!^.►',��.•^m!��.^,�.,�ro.�A►A� 3 �1,�p 94 ,inp.piRaRer '���:``., '=.._,__=---_-
<br /> i oslled the"Note'),payeble to the order of Beneflolary and having a maturity o/1�I�vember 1 1994 , -•°-�
<br /> . ,•�.
<br /> NOW,THEREfORE,lor the purpose ol secadng: -�'�'°`��`
<br /> .. (a) payment o�Ihe Note,rogether wlth lnterest thereon,lete charges,prepeyment penaldes,any lutme advances,and ail extensions, _ -
<br /> , modlfieadona, subsBtuGona end renewsls thereo% ,�';=� --
<br /> ' �,..,. . (b) payment of al/other sums,/ees or ahargea.togsther wlth lnterest thereon,advanced to protect the aeourity of this Oeed ol Trust and - ' '
<br /> � � ths perlormance of the covenants end egreements of Tiustor,whether or not set lorth hereln, ,� �" � _--- -
<br /> (c) pedormance,dlscherge of and compllence wlth every term,aovenant obdgallon and agreement ol Trustor contalned hereln or +";''-'
<br /> lncorpo►ated by►eference or any other secudty lnsbument et anytlme given to secure the Nate,and ':'`:�� Y .;;.;� s
<br /> � d the re a ment ol ell other sums or luture advances,wlth/nterest thereon,whlch me heretolore have been or hereefter be advenced ' i'�f �-
<br /> ! 1 P Y Y ,rr-;:,=
<br /> � by Benellclery to Tiustor or Tivstor's auccassor In lnterest or dde, •�
<br /> . all o/whlchls herelnafler collecUvely cal/ed the"Indebtedness",Tiustorinevocably grants end danslers fo Tiustee,!n bust,WI�H POWER - �' ���
<br /> • OF SALE,the lollowing descrlbed property: . ' 4 ���
<br /> . . 1,��;...�
<br /> � South One-Half of East One-Half of Northease Quarter (S��E}�NE}), of Section :'��;-�
<br /> Nineteen (19). Township Nine (9), North. Range Ten (10), West of the 6th P.M., '�� �
<br /> Hall County� Nebraska. A "
<br /> . toged►er wlti�(!)aA bulldings;structures,add/tlons,enlargementa,modlNcadons,repalrs,replacements,and lmprovements now or hereaRer .� �
<br /> Ixated thereon,(N)all eqWpment machlnery and llxtures(lncluding,without I!mltaUon,all IlghiJng,heatlng,ventllating,cooling,a!r ��
<br /> condldoning,aprink/!ng and plumbing Nxtures,water end power systems,englnes,bollers,ianges,ovens,dlshwashers,mlrrors end mantels, •� ��r
<br /> carpeUng,lurnaces, oll bumers,elevators and motors,re/rJgeraHon plants or units,communlca�on systems,dynamos,trensformers,electdcal ' '��. .
<br /> equlpment,siorm and screen wlndows,doors,awnings snd shades)now or heres/ter ettached to, a ballt!n,any building or improvement ti, ���
<br /> now or hareaRei iocated ihereun,jiiij eii aasariianes a�w�iylds ui way appwtd��d�ii ii�aiaiv,jivj,nii lnn�riwlJ n�tatv,riyht,fitiv anu iniv►asi vf •;-�'"-';
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<br /> Troator 1n and to a0/easea,whether now or hereslter exlsting or entered into(lncluding,without llmilaUon,all cash and securlty deposlts, f '� '
<br /> edvance rentals and deposqs or payments ol e slmllar nature),pertalning thereto,(v)all rents,lssues,proflts and Income there/rom(aub/ect •_���
<br /> to the dght of Tiustor to collect and app/y such rents,lssues,proflts and lncome as they become dae and payable so long as no evenf ol , ';�
<br /> defaalt ex/sts hereunder),(v!)all royalties,mineral,oll and gas rlghts end prollts,water,water dghts,and water stock,(v!►)al!tenementa, - •�
<br /> heredllamente,pdv!/eges end appurtenences be/ong/ng,used or en/oyed!n connecBon therewlth, aod(W!!)all proceeds ol conversfon,
<br /> voluntery or lnvoluntary,o/any o/the loregoing lnto cash o�Ilquldated clelms(fncluding,wlthoat 1lmitetlon,proceeds o�lnsurance and . �
<br /> condemnadon awards),alt of whlch is herelnafter collec8vely cslled the"Tiust Property". •"��6"
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST,TRUSTOR COVENANTS ANO AGREES AS FOLLOWS: �'" �r�
<br /> 1. Title.Tiusta covenants,wenants end egrees w/th Beneflclary,Us successors and asslgns, thaf Trustor owns the Tiust PropeRy lree ��' �
<br /> /iom any pdor Uen or encambranco,that th/s Deed of Trust!s end wl11 remaln a valld aod en/orceable Nrst llen on the Trast Propeny,
<br /> that Trusta,at ils expense,wil!preserve such title and will maintam this Deod of Tiust as e iirst end paramount lien upon the Tiust , •
<br /> • Property and wlll torever wanant and detend the velidlry and pdodty of the Ilen he�eo�agalnst the c/aims o/all persons end pa►tles
<br /> whomsoever. Trustor,at/ts expense,wlll cause this Deed of Trust,and each amendment or suppfement hereto,to be lped and
<br /> recorded as a moRgage ol the Tiust Property!n such msnner and In such place and wl11 fake such acHon as ln the opinlon ol Tiustea
<br /> may be requlred by any present or luture law!n order to perlect,melntaln end protect the Ilon o1 thls Deed o/Tiusf,as the same muy ,
<br /> be amended or supplemented lrom Bme to time. Trustor w1u make such luaher assurence oi assurances to pe�lect!1s tiHe to the Tiust i
<br /> Property as may be iequlred by Beneliclary. Tiuslor hereby►elinqulshes all rlght o/dower and homestead!n snd to the T�ust Properry. I
<br /> 2. Paymen!oilndebtedness.Trustor shall punc�ually pey the principal o/and/nterest on the lndebtedness secured herehy.
<br /> 3. Constructlon ol lmprovements.Trustor shall complete in good and wo►kmanlike manner any buildings,improvements a repalrs reletlng I,
<br /> � the►eto wMch mey be begun on the Trust Pioperty or contemplated by the loan evldenced by the Note secured heieby,to pay when �
<br /> ' due all costs and dabilltJes incurred therelore,and not to pe�mit any conshucNon!!en aga(nst such Tiust Properry. /n the event �
<br /> consbuctlon ol bulldings,lmprovements or repalrs are contemplated,Tiusior also ag►ees,snything In thls Oeed o/Trust to the contrary �
<br /> notwlthstanding;(a)to p►omptly commence any such work and to compfete the proposed improvements prompNy,(b) to complete the
<br /> ' same!n accordance wlth the plans snd speclllcatlons as approved by BeneJicisry,(c)to comply wlth all the te►ms ol a bu!/ding loan ,
<br /> agreement,!f any,between Tiustor and Benelicisry,the terms o/which ere incorporated heiein by ielerence and made e part hereo%
<br /> (d)to allow Benef/ciary to lnspect the Tiust Property at all times duiing construction,and(e)fo replece any wo►k or materla/s
<br /> unseHs/ecrory ro Benel/cJery withln fiReen(15)days aNer written notice liom Beneliclary ol such/act.
<br /> 4. Funds lor Payment of Cherges.Sub/ect to applicable law or to a written waiver by Benelicisry. T�ustor shall pay to Benelir,/ary on the
<br /> Iirst day of each month,or such other dafe each month as may be specified by Benelicisry, until the lndebtedness!s pa�d!n lull,a sum
<br /> (herelnaRer caJled the"Funds")equal to l i 12th o/the yearly taxes and assessments which may attain priority over this Deed ol Trust
<br /> and ground rents on the Trust Property,if any,plus 1�12th ot the yearly premium installments for hezard insurance,plus f�12th ol the
<br /> yeany premlum Instailmenls/or mortgage Insurance.!J any,all as reasonably eshmated lnitislly and/iom tlme to hme by Beneliciary on
<br /> ! the basls ol assessments end bills and reasonable est�mates thereot The Funds shell be held in an institution,the depos�ts or
<br /> �r sccounts oi wnicn are insurev oi guerenreea ny a ieaerer or stare agency mcwaing�ienedcrary.Benenciary snau epp�y me r-unas ro
<br /> pay seld texes,assessments,insurence premiums end ground rents.Beneficiary shal!not be required to pay Trusta any mte�est or
<br /> ;,' earnings on the Funds.Beneliciary shell give to Trustor,w�thout cherge.an annual accounting o!fhe Funds show�ng credits and
<br /> • deblts to the Funds and the purpose lor which each debit to the Funds was mede. The Funds are pledged es add�t,ona►security lor
<br /> � ! the Indebtedness secured by thls Deed o�Trust. 1l the amount ol the Funds held by Benef�ciary,togefher with tne lufwe monthly
<br /> ` ' Installments of Funds payable prlo►to the due da�es o!taxes.assessments,insurance p�em�ums and ground rents,shalf exceed tha
<br /> •' amount required to pay sald taxes,essessments,msurance premwms and ground rents as they�all due,such excess shall be,at
<br /> Trustor's optlon,e(ther promptly repaid to 7rusta or credited to Trustor against luture mon►hly installments ol Funds.ll the amount ol
<br /> ' the Funds Ae/d by Benellclary shaU not be suHlclent to pay texes,assessments,insurance prem�ums and ground rents as they lall due.
<br /> ; Trustor shall pey to Benel(clary any amount necessary to make up the deliclency withln thuty days lrom the date notice�s matled by
<br /> � Benellclary lo Trustor requesting payment the�eo[Upon payment in lull ol ell lndebtedness. Benelidary shall promptly�elund to
<br /> Trusbr any funds hefd by BeneHclary. !l the Trust Property�s sold under the power o�sale or the Trust Pioperry�s nthenv�se acqu�red
<br /> by BOnellc�ery,Benel(clery shall apply,lmmed�ately pr�or to the se/e ol the Trust Property or�ts acqu�srt�on by 8eneliaary.any�unds
<br /> ' • held by Bene/lC�ary at the time o!applicahon as a cred�t against the Indebtedness. Il Beneliasry executes e wnften warver o�Trustor's
<br /> � obligatfons under fhis paregreph 4. Trus►or covenants and agrees to pay,be%re the same becomP delrnquent,all tax�s,assessments.
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<br /> NC�l�R/Mi,7 1 nt,Nob�es�e Onryi ,
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