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<br /> •`°�''R�'n '- • THf5DEE00FTA�/STis madethia._34fi�.dayoi AL(��, t8.99..,Dyertdbetween • 5--..-�, :�k`•y
<br /> `'� ':''"" Brian A. �eake. Ssn le whetherone ormore,(hoie/nsfMr oalfad the"Truator'�, , •..
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<br /> '� " �, Y1 � whase mal!!ng addressla �.�..I1TT• th arand I �and N��8801 ' ' " °
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<br /> � �`r`` ��'°'`" No RWfST�gA K (ere(na er afled th "Trustae'7 whosemel!!np add�esa ls . ;;:'�!
<br /> .,, .. , •• ZOZ W. 3r�St. Gran Islan�l�,and NOAW�ST BANK s a �o o t og,�.(herelnafter ;;:•; .` - ,'.:'�u`,..:.. .
<br /> ` cslied the"Baneflclary"),whose malUng addiess la "" " ''A �' arand Island NE 68801 __ . •- ••. ' ,
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<br /> ��,�,' fFTHIS BOX lS CHECKED j J THIS DEED�JF TRt/S7 CON3T1Tl/TE3 A GONSTRUCT/DN .r•' � ` '' c � ; ' . .
<br /> SECURITY Af3REEMENT UNDER THE NEBRASKA CONSTRUCTION UEN ACT AND CREA�ES,:• �
<br /> �� . � aRANTS AND CONS�/7t1TES A CONSTRtJCT/ON SECURITY INTEREST IN THE PROP�RTY +►. ' .
<br /> ;" : . DESCRf��OHEREJN9ELQW. ' . • .-�:�;�• ,
<br /> ; ' ->; WNEREAS 7rus�pr6s lndebfed to Beneflclaryln P�e principalsum of T►+{r5�r T�+^��R� A^ - '
<br /> Qp���(a �U•000�,},whloh lndebtedness is evidenced by Titrstor's promissory note dated �u8t ,18 ,(herelnalter
<br /> ��' � '- oaqed dre"Note'),p�yable to the order of Beneficiary and havtng e maturity of safl tTmber 1,_1998 . ':` ,;; ,.. ,
<br /> � NOW.THEREFORE.tor the pa�pase of secudng: �i(`�:}„;:.;,;'•: ''•;:"'. I°
<br /> � n �r,:::.. :
<br /> (a) payment o1 the Note,together w11h Jnterest thereon,late charges,prepayment penaltles,eny l�ture advencea,and all extenslons, �t��':,s, . . ,:,,:;.
<br /> . modNlcatlans,substltudona and renewela thereof. '�-J '� '
<br /> �� (b) paymenf of a0 ofher sunrs.teea or charges,togethe►with!»terest theiean,advanced to proteot the securlty of tNs Deed of Tiust end ' � '� . �
<br /> � • �,r,.. .
<br /> . . � ..''.''�.� tha perlormance ot the covenents and agreements of Trustor,whether or not set�Orth hare�n, .. .� -. ."';�Y� .•
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<br /> � . (c) perfonnanoe,dlscherge o/and compllence wlth every term,covenant,obllgadon and agreement ol Tiustor contolnetl hereln or '��{;,' � �
<br /> ,. .. Incorpc�afed by re%rence or any other securfry/nsbument at anyllme given ro secura the Note,and .:+:-�:�
<br /> (d) the iepaymam of ell other sums or fi�ture edvences,wlth Interest thereon, wMCh may hererofore have been cr hereaRer be advenced '�"s:°• �,;:...: �
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<br /> • • ���s b y BeneBclary to Tiustor a TivatoPs successor in l,�terest or dUe, • �-. •�2:;i�i.;�.; :
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<br /> ��•1;`,:;�d"�?`:; sl101 whfch!s herelnafter collecBvefy ca!!ed the"lndebtedness",Tivaforinevocaby g►ents end hanslers to 7nrates.!n trast, WITN POWER �� ;��1�;�;';y;;� . •�
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<br /> ::1• '. .„-;�,. Of SALE,the lollowing desadbed properry:
<br /> �;�:;r.:,j���; . ',•�;)�{f�,a„ All of fractional lot One (1) aad the East 31xty Seveu (67) feet of the tract of ground formed ; .�i�`
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<br /> � tsy Fractional Lota Two (2), Three (3) and Four (4) in Fractional Block Seven (7) in Pleasant ���
<br /> ' `r'�'' �..;„�'� Hill Addition to the City of Grand Island, Hall County, Nebraoica and that part of vacated aliey '`"ic�f "'t,f
<br /> � •tiS�"�l' ae ehown ia Ordinance No. 6158 in the Register of Aeeda Office as Docu�eat No. 77-003925 ';,;f._:' ,��'�t' r
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<br /> � rogether with(1)s!I bulldings,struotuies,addlt/ons,enlergements,modl�ceBons,�epelrs,replacen�ents,and Imprcvements now or nereetter ,.:�.�� .•,.;.,�.`�,�:,, ;
<br /> �:' �, :. ' /oceted the�eon, (!1)a/l equlpment mechlnery and Nxtures(lncluding,wlthout Iimltatlon,all Ilghdng,heedng, vend/aGng,coaling,s!r • •• '', ;. F�ry,f.�
<br /> � "•����� condlUoning,spNnkUng snd p/umbing Bxtures,water and power systems,engirtes,boilers,ranges,ovens,dlshwashers,mirrors and mantefs, ,.�,�;,,•,
<br /> „ ���,`:�; carpeiing,/umacea,o!I bumers. . ��`.., },.
<br /> elevators end motors,rehtgeratfon plants or urtlts,communlcedon systems,dynamos,transtormers,elecMcal . ,.,;;,;:�;t
<br /> equlpment,storm snd scraen windows,doors,awafngs end shades)now or hereeRor attached to,or built�n,any bullding or lmprovement . , �;•;• '
<br /> . n o w or hereallei lxeted thereon,(!!f J eff easements and dghts of way eppuRensnt thereto,(!v),all leaseho/d estate,dght Utle and lnterest ot ':;�'I
<br /> � � Tivafor ln end to ell/eeses.wheth9r rrow or hereafter exisdng or entered lnto(lncNding,witho�t!lmitetlon,al!cash and security deposlts,
<br /> edvance rentals and deposlts or paymen�ta of e slmlla►natuie),portalning thereto,(v)all rents.lssues,profits and lncome therelrom(subject ��l� '
<br /> to ths dghf ol Trasror to collect and apply such rents,tssues,pro/ita and Income as they become due and payable so long as no event ol � . , �
<br /> defeult exlats hereunder),(vi)ell�oyalUes,mineral,011 end gas rlghts end prolits,water,wate�dghts,and wafer stock,(vll)ell tenements,
<br /> �� � hereditaments,pdvlleges and eppmtenances belonging,used a en/oyed!n connecdon therewlth,end(vN/)all proceeds ot converslo», , ��,+
<br /> ° volontary or involnntaiy�,of eny of the loregoing into cesh or(fquideted clalms(includJng,wlthout t/mitedon,proceeda of lnaurence and • �
<br /> cortdemnailon awards),all ot whlch!s herelnaller co!lectivety called the"Tiust Property". . �':
<br /> TO PROTECT 7HE SECURITY OF THlS DEED OF TRUST,TRUSTOR COVENANTS AND RQREES AS FOLLOWS: � .�
<br /> • 1. TlNe.Tiusro�covenants,wanQnts and agrees with BeneBciary,!ta successas snd ssslgns,that Tiusta owns the Trost Pioperiy fiee
<br /> �� lrom any pdor llen or eacumbrance,that thls Deed of Tiust!s snd wllf remaU a velid end enforcesble Brst lien on the Tiust Prope�fy, i
<br /> , thet Trusror,ai Its expense,wf!!preserve sucb Ude and w11!malnteln thls Deed of Tiust as s 1lrst r�nd paremount llen upon the Tast I
<br /> Properiy end will forever wanant and defend the vafldlry end prlodry ot the 8en hereol agslnst the cfalms o/all persons end pa�des
<br /> whomsoever. Tiustor,a!!ts expense,w111 cause thls Deed ot Tiust,end each amendment or supplement herero,to be Nled snd . ,
<br /> recorded as a moKgege o/the Tiust Prope�fy in such manner end in sucA plece and will feke such ectlon as!n the opinlon o/Tiustee
<br /> may be reqnUed by eny present or/uture law!n o►de�to pedect,malntein and protect the/len o!thls Deed ol Trust,as the same may ..�
<br /> � � � , • ° be smended or supplemented hor»8me to t(me.Tiustor wlll make such Iurrher assurence or assurances to pedectlts dde to the Tiust .
<br /> • Properry as may be requlred by Benellciery.Trusror hereby iellnquJshes all Nght of dower end homestead!n end ro the 7rust Property. �
<br /> 2. PeymeM ot Indebiedness.Tiusro�shell punct�a!!y pay the pdnclpal of sndlnterest ar the Indebtedness secured hereby. '
<br /> � � 3. Consbuctlon ot/mprovements.Tiusto�shall complete!n good and workmanGke manner eny bulfdings,lmprovemenis or repairs ieleting
<br /> thereto wh/ch may be begun on the Tiust Pioperty o�contemplated by theban evldenced by the Note secured hereby,ro pey when
<br /> duo all cosis end IlablllUes tncarred therefae,end not to perrnit any cnnstrucdon I!e»agetnst such Tiust Pro�nerty.ln the event
<br /> � constrvcdon of bulldings.improvements or repalrs ere contemptated, Trusror also egrees,enything fn this Deed of Tn�st ro the conbary
<br /> notwithstanding;(a)to promptly commence any such work and to corrrplete the proposed Improvements promptly,(b)to compfete the �
<br /> � ,. same!n sccordance wRh tlre plsns and specHlastlons as epproved by Beneffclary,(c)to comply with a!!the terms of a buffdl»g loan I ,
<br /> agreement,if any,between Tiustor and BeneNciary,the tem►s ol whlch ere(ncorporeted herefn by reference and made e part hereof,
<br /> (d)to alfow Beneflclary to Inspec!the Tiust Property at ell tlmes dudng conshuctlon,end(e)to replace eny work or msiedals i
<br /> •r' unsatlslectay to BeneNciery wlthlrt 8/teen(16)days slter wdKen noNce Iiom BeneNcfary of such/act. I
<br /> ; '� ' 4. Funds!or Payment o!Cha►pes.Sub/e�t to sppllcabfe�aw or to a wnt[en welve�by BenefiClary.Tiusta shal!pay to Beneflr,isry on the I
<br /> � flrst day of each monfh,or such other dete eaah month ss may be specilled by BeneNclary,unU!the Indebtedness ts pafd!n/ull,a sum
<br /> � (herelnsftercalled the"Fends')equaf to 1/12th ol the yeerly taxes end assessments whlch may attele prlo►ityover thls Oeed ot Tiust
<br /> • . errd ground rents on the Tiust Properry,!�any,plus t�12th o/the yeerty premlum instal/ments tor ha2ard lnsurence,plus t i 12th of the
<br /> � yeerty premlum instellments for mortgage insvrence,il any,efl as reasonably esdmated!nitla0y and hom Nme ro time by Beneflclary on °
<br /> � the b&s!s o/assessmer+ts and bflls end ieasonable esBmetes thereoi. �he Funds shall be held ln an lnstitutlon,the deposlts or ;
<br /> ��....�.�..r•-=�-�aws twn..wna w�n��ninn)edI hu n/dforn/n►olufe aRanRVIfIP!Glflll)ff RAl1ANf`.IAN. BBnB�ICI9N SNHU BDDIV H1B FfD![f3}D i
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<br /> pay seld texes,assessments,fnsurance p►+emiums and ground reMS.BeneNclary shaq not be required to pay Trustor any lnterest or
<br /> eam(ngs on the Funds.BeneNCJary shell give to Tiustor,wlthout cha►ge,an annual accounting of the Funds showing credits and
<br /> debits to the Fands end the purpose for whlch esch deblt ro the Fynds was made.The Fund�a�pfedged es addihonal securlty/or ,
<br /> ``��, the Indebtedaess secvred by Mls Deed of Frust.ff the emoont o/the Funds held by BeneNcfary, together with the futare rnonthly
<br /> '`��`"� instellments of Funds payeble prlor to the due dates o/taxes,sssessr»ents,insurence prernlurr►s and ground rents,shall exceed the
<br /> '��'?� ��;,., amonnt requlred to pey seid texes,essessments,lnsurence premfums and ground rents as they lall due,such excess shap be,et �
<br /> Trusfor's cpUon,efther promptly repald M Tiusto►or credited to 7rustor ageinst luture monthty lnstaNments o/Funds.11 the amount of
<br /> :��`.�,;;�<�� the Fvnds hald by Beneflctary shell not be sutllcfeni to pay taxes,assessments.Insurance p�ern►urns and grourtd rents as th�y fall due. ;
<br /> •*��, �� Tiustor shaU pay to BeneHcJary any amounf necessary ro make up the delklency wfthJn th/rry days from the date notice!s meiled by
<br /> Benelldary to Trustor res�uestlng payment thereo/.Upon paymenr!n/utl of all lndebtedness,BeneNclary shall prdmptly relund to
<br /> �� . Trustor eny Funds h�id by BeneNdary.l!the Trust Prope�ty(s sotd unde�the power of sale or the Trusf Pr+operty is othe►wlse acqulred
<br /> � by BeneNclery,Beneficlary shal!appfy,intme0fately pdor to the sele o/the trust Properry or!ts acqu(s�don by 8enelfclary,arty Funds '
<br /> ' �' ' " held by Benefldary at fhe tlme of sppllcaUo»es e credii against the Indebtedness.ft Bene/ic(ary executes a written wafver of Trustor's ;
<br /> ��� • obOgatlons under this paragraph 4,Trusror covenants and egrees to pay,belnre the same become delinquent all texes,assessments, �
<br /> NC�7rOlulO J�85 1NObrUSka ONY7 -'
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