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<br /> �� THIS DEEG OF'PRUST,18 made ao 01 tho—�..L day o} N n V F�,1A�R ,1[�_�.by nnd amenp ,, ��"•f
<br /> the Trustor, STGFFEN & ROWE CUNTRACTORS, A PARTNERSNIP, LELAND STEFFEN�PARTNER. GARY ROWE, •�_
<br /> — PAI27NER ��" ��='
<br /> ^ whose melllnp addrASe le 4128 DRIFTWOOD GRAt�O ISL�IND NE 68803 �heroin"Truator;'whethe►one or mora), . '����
<br /> I D=a"
<br /> the Truetea. F T V,�,E I1� S BANK ' I � � , �.yi±, :
<br /> whoso malling addreae le P•�• BOX 1507 GRAND YSI.APID NE 68802 (here�n"Truetee"),and -'�
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<br /> the Be�teflclary, FIVE POINTS BAN � � M
<br /> whnso mallinp addreas Is 2015 N BROADI�ELL GRAND ISLAND NE 68fi02-1507 �hereln"�ender'�. �� �,�
<br /> FOR VALUABLE COt�SIDF_RATION,Including Lender's extenelon of credlt Identtiled herefn to STEFFEN & R04�E. •, �
<br /> LELAND ST�,FFEN 8� 6ARY ROWE (hereln"Borrower",whether o�►e or more)and the trust hereln created,
<br /> the recelpt of which Is h�reby naknowledged,Trustor horeby Irrovocably grenta,transtere,convoys and asaigna to Trustee,IN
<br /> TRUST,WITH POWER OF 9ALE,tar the benefit and soaurfry oi Lendor,under and subject to the terme and condltione he►olnatter set
<br /> tortfi,the reel properiy,described ee fol!ows: I ,�
<br /> � L0� 1'WENTY EIGH7 t28) WES7WOOD PARK SECOND SUBDIVISION� GRAND ISLRND� HALL COUFJTY, f
<br /> NEBRASKA. ,,�
<br /> I �!r.''�`
<br /> Together wlth all bulldings,Improvements,fixturea,streete,aileyo,paesagsways,easomems,dghta,prlvlloges and appurto- I �" ��
<br /> nancos lacated thereon or In anywiee pertalning thereto,end the rents,Issuos and profits,reverelons and remslnders thereof,an� *.x
<br /> such pereonel property that is atUiched to the improvements so es to conatltute e ilxtu�e,Including,but not Iimited to,heating nnal ���
<br /> � coolfng equlpmenx end together with the homostead or meritel Intorests,it eny,whlch Interesta are hereby released and walvod;all I ,e
<br /> o}whtch,Including replacemente end additlons thereto,Is hereby declared to be e paR of the real estate secured by the Ilen o1 thls . t.�,�..
<br /> � Deed of Trust and all oi the toregofng boing referrod to hereln as the"Proporry". I �
<br /> This Deod of Trust shall aecure(a)the payment ot the princlpel oum nnd Intereat evidencec!by a promlasory note or credit ~�y'
<br /> I � ,i
<br /> -----_ _-- u�yc4waca t T Zoo¢ ,ha.�rg�rr.at:s:�r;ds!s�! MAY 18, 1995 . I____ -���'"__ --
<br /> �. .
<br /> agroement tlated � -- �� -
<br /> , f_. ; .
<br /> in the orlginnl prinaipsl umount ot$ 65.000.00 _,and any and all modlficatlona,extenslons and renewels ' . " ��
<br /> thereof or thereto and uny ond all future advences and roadvances to Borrower (or any of them If more than ono)ha�eunder
<br /> � ' purauant to one or more promisoory notes or credit agreaments(horeln cailed"Note");(b)the payment of other sums advanced by I'
<br /> Lender to protectthe securlry ot the Note;(c)the pe►to�mance of ali covenante and ag�aemonts of Trustor set forth herein;and(d)all �
<br /> present end future lndebtednesa and obligations of Borrower(or any o1 tham If more than one)to Lender whether dlrect,Indfrect, ; •
<br /> absolute or contingent and whether arising by note,guarAnty,overdraft or otherwlse.The Note,this Deed ot Trust and any nnd ell . ,
<br /> other docuentathat secure the Note or othervvise executed in connectlon therewith,including without Ilmitatlon guaranteee,security . ,.
<br /> aflreoments end assignments of leaseu and rents,shell be reterred to herein as the"Loan Documents". � {�
<br /> Truator covenants and agroes wfth l.ender as followe: • .
<br /> � 1. P�ym�nt o1lnd�bt�dnau.All indobtedness secured hereby ehall be paid when due. ; '
<br /> � • 2. TIN�.Trustor lo the owner of the Property. has the rlght end euthorlty to convay the Property,and warrante that the Ilen i -�
<br /> created hereby ia a first and prlor Ilen on the Properry,except for ilene and encumbrances set fo�th by Trustor In writing and •
<br /> '' dellvered to Lender before execution ot thls Deed ol Trust,and tho executlon and detivery of thla Deod of Trust doea not violate any ; ; �. �,1�
<br /> ',����. �� cantract or other obllgetion to which Trustor Is sub�ect � ` ' �`.
<br /> 3. T�xt�,Aswt�tmntt.'d'o pay before dellnquency all taxes,apeclal assvssments and all othar charges agelnst the Property
<br /> now or hereaitev lavlod. •
<br /> 4. (nsuranc�.To keep the Proporly Inaured agalnstdemago by 11re,hazards included withln the term"extonded coverage",and "�
<br /> such other hazards as Lendor may requlro,In amounte and wlth companies acceptable to Lendor,naming Lender as an additional � ' •_
<br /> �;,�.
<br /> � � named Inaurod,with ioss psya6lo to the Lender.In caso o}loss under such policle�,the Lendor le authorized to adJust,coilect and
<br /> •• compromise,ell claima thereunder and shall have the opllon of applying all or part of tho Inaurance pracee�s(I)to any Indebtednes3 • ,�r� .
<br /> securad hereby and In euch order as Londer may determine,(II)to the Trustor to bo used for the repalr or rostoration ot the Proporty :, }
<br /> or(III)for any other purpose or ob�ect eatisiactory to Londer without aNecting 1hA Ilen ot th Is Daed of Trust for the tull amount socurod
<br /> hereby befora such paymon4 ever took place.Any npplicatton ot prucooda to Indebtedness shall not extend or poatpone tho due '�►.
<br /> date of any paymenta under the Note,or cure any default thereunder or hereundor.
<br /> 8. Es�crow.Upon writlnn domund by Londor,Trustar shall pay to Lender,In suah mc�nner ea Lendor mey deslgnate,suificlent
<br /> sum�to enable Lendar to pny ea thoy bocome due one or moro of tho tollowing:(1)el I 4nxes,assoasments end other charges agalnst ,
<br /> tho Property,(II)the premlums on tho proporty Insurance requlred herounder,and (III)tho premiums on any mortgago fn�uranca �
<br /> � requlred by Lender.
<br /> 8. Maintmsrtc�,R�poln and Complianc� wflh l.�w�.Truator ahall keep tho Property In good conditlon end repetr,sh�ll �.,A
<br /> � prompUy repalr,or replaco any lmprovemont whlch mny be damegod or dostroyed; shall not commit or permit eny wasta or .�
<br /> deterioretton o1 the Property;shall not removo,domqllah or substantlally elter ony ol tho Improvemonte on the Property:ahnil not
<br /> commfL suttor or pormit any uctto bo don�in or upon thd Proporty fn vtolation of any law,ordinanao,or regulation;end shrtll pay end ^�
<br /> promptly dlsChardo nt T�ustor's oost and exponse ali Ilens,vncumbrancoa nnd cherges leviod, Imposod or nssessed against the
<br /> PropeAy or any part thoreot. .
<br /> 7. Emltssnt Damtin-Londer is horoby nsslgn�d aIl compensntfon,awurda,damttpes and other puymonts or rollot(herolnatter
<br /> • "Procc�ad�'11n connnCUon w{th cond6mntation or othar Wklnfl o}the Proporty or part theraof,or lor conveydnco In Ifeu ot condemna- 1
<br /> tlon.Lander shall bo ontitied at its optlon to commonco,appoar In nnd prasocuto fn its own nnmo any acUon or procoodings,and -
<br /> ' shall alsm bo ontitlod to rnakc��ny compromise ar settlomant In cormoctlon wiV►euch teking or damuge.In tho ovent uny portion ot • f
<br /> lhe P�opEerry le so takan or dmm�pod,Londar shall have lha option,in Its solv and absoluto discration,to apply ail such Procoods, , �
<br /> •� _�__...._.....,i�i....,.....o..�lnn Wlfh c,�rh PrnrmAss umn anv Indnhtttdnos3 seCU►ed
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<br /> oII�r CeGUCflng msreirvm nn cuaw aav oRyai.ao�..�...,..o....�.............�.._..�.-•---- . -.._ ,
<br /> hareby nnd in ouch order as Lendar may dotormino,or to apply oll such Proceeda,atte�such dc3ductions,to U►v rastorntion ot the
<br /> Proporry upon such candiUons ns Landor mny datormino.Any opplicatlon of Prococ3dsto Indoblodness shall not extend or postpone
<br /> tho duo dato 01 orsy payments undar tho Noto.or curo nny dotnult thorounder or horeundor.Any unnppllad funds ehell tre paid to
<br /> (> Trustor.
<br /> 0. PNforRartc�by LN�d�r.Upon the occurronco 01 an 8von1 ol0otault Fereundor.or H any uct la tokon or logal procoedlnQ
<br /> `� • commenced which matarfally eltecte Lendor's Interost ln tho Proporty.Landor may in Its own dlscroUOn,but w�tnout obllflatlon to do �
<br /> � oa,and withoux notico to or demand upon Trustor a�d without raloas�ng Trustor Trom any obligation,do any act which Tnistor has �
<br /> - � npreed b�l fatt�to do end may elso do eny nthpr act 11 dctems nocos�ary to protact Iho sscurlty horaol.Trustor ehall,Immedlntety
<br /> upon demand l�orator by Lertdor,pay to Londer allcosta And oxponsey Incurrc�d�nd sums axpendod by Londor in conncscUon wilh
<br /> _� the exerclsa by Lendnr ollhe tOragolnp rights,tpgflthor wEth interost thort3on at lho doloult rpto providod fn tho Noto,whlcl�ahall vo
<br /> added ta fhe Ind�btalrtesg eocurad haraby.Londor ehall not Incur any Ilublliry bocauso ot anythlnp ft moy do or omlf to do
<br /> hereundar.
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