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<br /> � Deed ot Trla�t
<br /> � .} Y pAMKB ��� ���� -
<br /> J' �- rNlS DEED OF TiRUST la medo tnts � dey a1. �ar ii ,18�..�,by snd astween Rond �►n!! Re$d,�Yna%�_„_, -, -
<br /> . wAeths�ona a�mof�,(harolnafts�o�11ad tho"Tiustot"), ��----
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<br /> whoso mnlUng Addross/e � q nn �-� .. „ - � �_.
<br /> �; NO W�ST RANK ' (h rotn or e flod�ro 7iustao ,wboso mnillnp uddress/s �t5:ti=;"'=:'�-•_-
<br /> t t3 a a ' ,an ORWEBT BANK a r$ at�pnal Aeoc a io ,(/�o�alnalta i-°�_-s-
<br /> caqed the"Benailclary"),whose mNling addresa la Q A ' =- _
<br /> WITNESSETH: -- ---
<br /> IF TWIS BOX 1S CHECKED�RX )THIS DEED OF TRUST CONSTITUtES A CONS�RUCTION ii�_�:.Y;_="
<br /> SECUfil1Y AOREEMENT UNDER 7HE NEBRASIG4 CONSTAUCTION UEN ACT ANO CHEAyES, �� �'�-'�°
<br /> GRANTS AND CONSTITUTES A CONSTRUCTION SECURIIY INTEREST IN TH�PROPERTY �`�i";;'°.:�-_
<br /> DESCRIBEDHEREINBELOW. �� �y+� ` ':`'
<br /> WHEREAS,Ttuato►!s lndebted to Beneflcleryln the p�lncipe!sum of -' ' ��° „`.�;;� -;
<br /> . po���(g ss o-(�0_DO ),�vhlch lnd�btedneas is eWdenced Iby Tvusto�'s promisaory note datrad�Ar�l a ��g � ,(herelnalter .,,,y:�.:y;_-
<br /> ca[�od Yh�"�'o�o').�ayaC.'e to th�er¢!er of Beneflclery and having a matudry o1SeDtembax l�i »�4 .
<br /> �:���.=.,�;
<br /> N'��t!TD�AEU��Fm6tE,Aes th�pu�s�09 seCUdng: .
<br /> (a) �aymanY o!PDr�h'ato,tog�ihar wiih 6nteras?tP��r�an,IaYe cF+a►g�s,prrepaymo�t penaPtles.avdY fatwye advanc�s,and att oxteresions. , :=
<br /> mos/iBCaGQns,su@�stittuUons en1J r�nawa�s ther�aP. '��°''=
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<br /> (,b) payment o/all otin�r sums,tass or ChBrges,toyeth8�witin InPe►�st BDtere�n,�d�avrced to�rmiect tha sec�erlty of thls�8ad of Toust�urd
<br /> dre pedom►ance of the covenants and agreements oY Tiustor,rvhapher�nat set forPh heredn, _
<br /> (c) perfom►ance,dlscharge of and compilance wdi�every terrn,covenant obligatlon and agreement of Tiustor containod hereln o�
<br /> lncor�ratetd by r�terence or any oiher securif.7r Irrstramem�c et anytime oJiren Sm secure the lVof�,and �
<br /> (d) tha repaymemt of alJ other sums or future adc aa�c�s.�rNh dnte�st theregn.�a;�n;ch may haretofore have l�oea►o►hereaftei ba advancec! ..
<br /> by BeneRaaay;a Tiustor or Trustor's saccess�r in inf��est or dtle, •
<br /> af!01 wPri�?a�s herelnaftei collecdvedyr�a!!ed tha"Indebtodness".7nestor lrrevocably gients��ad 7vamsP��s to D'amstee,in tast WfIH P069P��t r;cs�:i�� •�
<br /> ��(.' yR... ..�.4' � s
<br /> . • OF S6�;.�'.7?�e lollowing described pca;aarry: ;��{,�.-�•�;:�:,
<br /> �,��� 1'��}if�:,
<br /> .;.�.< .��. •. .; ,
<br /> ;�,;,�t,. :;,:f . .
<br /> ,,r�;,:��. .. L�t Twenty Si�c (26), �effrey Oaks Sut�¢�i�ision to the City of �rand Is]L.and, Hall County,
<br /> ,.�•���.o- l�etrsa�ka ^ -`. _.
<br /> .'�i�,':� 'i,io�`�t,� �
<br /> . .. . __T.�,:-.s:-.,- .
<br /> � - �l�('•.'r�.i �,o-
<br /> � togePDee;tivit7(i)alV bui/t�ings,structures,additions,eniaigeman¢s.crrod!/lcaGvns,Pop�lrs.ro�"�csme»ts.end ire�provema��s-n:w¢rc C,en�ai�er ,ry�S�.;t��
<br /> �. �,� .�';:
<br /> lacated U►ereon,(!��ail�qulpment,machlnery and�ixtures(Incla�d�ng,wlthoud limi¢a�an,ell iigOning,heai'raag,v�nG/aNng,coQli.:g.a1r rg;�:.;{�'r�i,
<br /> conditioning,sprinkJing and plumbing fixtures,water end power sysiems,er�gines,Coilers,�anges,ovens,d:shwashers,mlmors and dmar.xa9s, .>�:��jq;'r�;�
<br /> ca►pe0fng,fumaces,01�bumers,elevators and motors,refdgeradon plants or units,communlcaUon systems,dynamos.banalormers,ef�tt-�ir.sl ��,�;�,,.�;+�i`��
<br /> equipment,storm end screen windows,doors,awnings end shades)now a hereafte�atteched to,or buift in,any buildlrrg or lmprovement �.����-.,
<br /> now or heresfte►located thereon,(i!!)all easements and rlghts ot way eppurtenant thereto,(!v),e(I IeasehoW estete,dght,dde and Interest of
<br /> Trustor in and M alf leases,whefher now or herealter exlsdng or entered lnfo (inciud(ng,without Iimltetlon,sll cash and secmlty depos�t8.
<br /> advance rentals and deposits or payments of a simtle►nahrre),perteining thereto,(v)al!rents,issues,profRs end lncome therefrom(sub/ect
<br /> � to the dght ol Tn�sto►to co0ect and app/y such►ents,issues,piofrts end incomo as they become due end payable so long as no event of
<br /> deleuR exlsts hereunder).(vl)all royalties,m(neraJ,oU and gas rights and profits,water,water dghts,and water stock,(vi1)el!ienements,
<br /> hered'rtaments,p►ivileges and appuRenan�es 6elonging,used or enJoyed In connecdon therewith,and(vill)el�proceeds of conversfon,
<br /> voluntery or involyntery,of any o1 the foregoing lnto cash or liquidsted cialms(including,without limltatlon,p►oceeds o!lnswance and
<br /> condemnallon awards),aJf of which is hereinafter collectively called the"Trust Properry". ...
<br /> TO PROTECT THE S�CURITY OF THJS DEEO OF TRUST,TRUSTOR COYENANTS ANO AGREES AS FOLtOWS:
<br /> t. Title.Tiustor cover+a►rts,wa►rants and agrees with Benenclary,its successors and assigns,thai Tiustor owns the Tiust Property hea
<br /> fiom any prior lien or encumb�ance,that this Deed of Trust is and wdl remain a valid and enfoiceable flrst!!en on the Tiust P�oparty,
<br /> that Tiustor,at its expense,wili prese�ve such GHe and wilt malntefn this Deed of Tiust as a firat and paramount llen upon the Tiust
<br /> P�perry and wi/I torever wanant end de�end the validiry and priority o!the lien hereof agairut d+e clalms ol al!persons and pa►Aias
<br /> whomsoever.Trastor,at its expense,wi11 cause this Ased of Tiast,and each amendment or suppfement hereto,to be nled ar+d
<br /> recorded as a mortgage of tha 7rust Property in such manner and in such p�ace and wll!take sach ac0on as in the opinion of Tiustee , .
<br /> may be►equired by any present or luture law in o�der to perlect,meintain and protect the lien o/this Deed ol Trust,as the sama may
<br /> ba amended or supplemented from bme to bme. Tiustor w,i►make sucA further assurance or assurances to pe►iect its tide ta tha Tiust
<br /> j Property as►nay be�equved dy 8eneficrary. rrustor i�ereby�ahnyu�si.as all r�y�'�i of d�:ver arrd homest�ad�n 8nri tp thw Tiust PropB►1y. _.,_ _ _
<br /> ' 2. Payment o/lndebtedness.Tiusror shall punctualty pay the pnncipal o!and interest on the lndebtedness secured hereby. ,!',°� •
<br /> 3. Consduc6on ot l�nprovements.Tiusto�shalf comp/ete,n good and wafcma►r.':ke manner aay buildmgs.�mprovements or iepairs�ela0ng �,;�:,,:
<br /> therefo which rroay be begun on the Trust Prope►ry or contemp7ated by the loan evidenced by the Note secured hereby,to pay when `�t'
<br /> � due alf costs and IiabrJ�ies mcurred there�ore.and noi to permit any construcnon lren agarnst svch Trust Property.ln the evem
<br /> " construcoo»of bwldmgs.�mprovements or repaus are contemplated. Trustor also agrees.anyth,ng in this Deed ol Tiust ro tha conbary
<br /> � � notwithstanding:(a)to promptly commence any such wo�k and to cornplete the proposed improvements promptty.(b)to comp:ete the . •
<br /> � same in acCOrdance with the plens and specnc�ahons as approved by BenehC�sry.Ic)to comply wRh aU Ma terms o1 a building loan
<br /> agreement.�t any,beNieen Trusror and 8enehaary.the terms of wh�ch are mcorporated herern by reterence and made a pa►t hereof, �
<br /> � (d)to aUow BenehCrBry to mspeCt the Trust Property at aN bmes dunng construchon,and�e)ro repJBCe any wotk ot m8ferials �
<br /> unsabsfactory to Benefrc�ary w�th�n l�iteen(151 days alter wrttten nodce hom 8enehaary ol such fact ► .
<br /> 4. Funds b�Payment o1 Charges.Sub�ect to appLCatr�e law or to a wMtan waner by Benefrr�ary. Trusror shaA pay to 8ene5r,�ary or+th� �,
<br /> flrst day of eac►+month.or such ofher date each monih as may tre speuhed by 8enehc�ary.unirf tlre lndebtedness is pard in fufi,a sum
<br /> (heremalte�Celled the"Funds'7 equaf to 1 12th of the yeany taxes a.�d assessments vihrch may att8m pnpnry ove�this Deed o/Trust !
<br /> and ground rents on the Trust P�operty.�t any,plus 1 17tn ot the year.*y prem:um�nstallments!or heza�d irtsu►ance.plus f 12th of the �
<br /> yearly prerr+wm mstallments for mortgage�nsurance.�t any.an as reasonably eshmated�n.na�iy and from bme ro hme by 8ene5crary on ,
<br /> ....a,..�,.-....a.,��cnnoNn ce�mafae IhP1Ml TnP Funds shall be held�n an insbtubon,the JBpOS�tS Or _
<br /> � or8 iiao�a v�a5ao�.i..—,c.:w.,......�........... ..._.._..--'- --� - --
<br /> � accounis of which are,nsu►ed or g�ara^rre�'by a federal or state agency�nc�udmg Benel�crary Benehc�ary shau appty the Funds to
<br /> pey Said t8xes. assessme�ts.�nsurance,.=c��+�u.ms 3'+d ground rents Bene4c�ary shau not be raqu�red to pay Trustor any interest or
<br /> ' eammgson Me Funds.He+�+e�ivary sha'��a�.••=" rr��:�° ,-mout charge.an annua!accounhng ot ihe Funds show�ng credrts and i
<br /> debrts to the Fun�s and tf+e purpose�v�.��'�c�a,�_"o•e�"�'o me F��.�s�o as maae The Furrds.are��edy�d as addrhon8l securrty fo� '
<br /> ' the fndebtedness secur+?d vy ttus Deea o�''-.s'. f-`^�°.-±'c�"pt me Fu�ds hQ�Q by B�r.�tic�ery tuyether�wth the luture monihly ,
<br /> ' msta.'Iments of Funds payaDle pnar ro me e�.N 7a�s cf'3+cES.asse�sn+er.ts •nsura�c�rr�mrums and grtwne rents,shaif exceed the
<br /> amounr�qu�r�c7 ro p�y sad raxes assess+-renK n�„rd-ce p�2+r+�ums anQ gr�urd�r.[�as it»y 1al�due.Sich e.�cess sht�lf be.at
<br /> � 7rustqr s opeon,e�tNer nrvmph�reaa�d tu Trt,stor or c.^��Tr�d:� r us•��aga�rst h�n,�mvntl�q��nstanmenrs cl F�nes ►t M�e�amalint ot
<br /> i tl�e FunQS held by BBn2hC�ary Sh2(.'rtot Oe sut�uent N pa•�raxes. as��s�r~erfs.�nsurance premiums ancY grvu»Q nants as they tall due.
<br /> ' Trvsrnr shail pa�y co Bene6uery any amaunt necess.ary ru mai�e u,a m�a�hc�er.cy a�rth�n tf��Ry days hum the Qate nunce�s rrra,ted by
<br /> � Ber+efivary ro i'�ustor requashng pa��ment meraor Upor ea��:anr�n f���o/aii InOebted�ess.8sr.ehc�an�shttl/prompdy reft.nd ta
<br /> Trustnr any�unds hetd by 8enehc+en� lf tNe Tvst propany+s sr.id unaer tne power o�sale a tlie Tn�5t P�uJT�ril��s omeno�se acqu�red
<br /> ny Bene6crary. Bene�rc�ary shaa appry.�mmed�ater►.oror ro;he sare or rhe Trust Property o�rts acqu�srnon by I�Brtt'hC:a,ry. any Funds
<br /> hetd by Berre6crary at me nme of app�rcanon as a c�ed�r age�nst rrte Inaebtedness u Benenc�a�y e.eculvs a�vntter wa�ver ot Trusto�s
<br /> Obl�gadons under th�s paragraph 4.Trustor coven�nts arni ag�ees to pdy bef�re me same t+econte aenna�enr a�r taxes.assess�ents.
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