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<br /> , THIS DEED OF TRUST,Is mudo ae of tho 3(�th day o} t�uv� __,tfl....��,by ond omonp � � �
<br /> � �
<br /> • ISLAND It�VC:THC•:NT If�C. n ��j��(�Q[�Qy� — - � I
<br /> Ihe 7ruetar, r.- �, �
<br /> • 9N9 HUODLAt�D DRYVE Urana l��land � �t
<br /> • whose malling address Is `hereln"Tru�li�'��er one or moro),
<br /> ,�
<br /> theTrustee, Five Pointf� [3ank, a ti��brar.ka Carl�ur�tit�n —.-------� ' �.yr;�
<br /> P.q. 9ox 150'1 Grand Ieland, NE 6800: (p�prpin"Truatee"),und t •- �{�,
<br /> whoso malling address la
<br /> Five Poineo Bank � � ' �'
<br /> • the Beneticlery, —
<br /> a°ti
<br /> whose melUng address Is Z01 S td. 9roadwell Grand I31and. NE. bb802•15�7 (heroln"Lender"). �����
<br /> FOFl VALUTABLE CONSIDERAYi�N,Inciuding Lender'�extenslon of credit Identifiod heroln to ..��
<br /> ISLAND INVESTHENT, INC. � '
<br /> (heretn"Borrower",whether ono or mora)and the trust ho�eln Created,
<br /> the recelpt of which Is hereby acknowledgod,Trustor horeby Irrevocably granta, trnnsters,conveys end asslgns to Trustee,IN ,� �
<br /> " TRUST,WITH POWER OF SALE,for the beneflt end security of Lender,under end aubJect to the terms and conditlona herelnafter set �
<br /> r�hed y. 't
<br /> fa��th�ie�a���--�"xt��IT�'�1s,toliowa q
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<br /> Together vAth sll buildinfls,Improvements,HMures,strests,alleye,passagew�ys,easementa,rights,p�ivileges and appurte- • ,
<br /> nences located thoreon or in anywise pe�telning thereto,and the rente,Issues and proiita,reversfons end romainders thereoi,nnd �_:
<br /> such peraonal prope►tyr that Is attached to the Improvements eo es to constitute a fixture,including,but not Ifmlted to,heating ond _ _ _
<br /> cooling equipmenY,and topether wlth the homestead or marital Interests,It any,which Interasts are hereby released and wafved;afl �,.-� �-
<br /> of whlch,including repiacements and addltlons thereto,la hereby declared to be a part of the real estafe aecured by the Iien of thla . �;�.r
<br /> Deed of Trust and all of the toregoing baing�etorred to hereln as the"Property". � `' .}�
<br /> This Dee�of Trust shnll secure(e)the payment ot the principal aum and Interest evidsnced by a promlasory note or credit �;-'��
<br /> :.__._—"-_--"-_._ _ NoVwmbar 3014h Iy90. �--.'--- .. � Fahruarv 5th 1997 ; _=1�a�_
<br /> agreement dated — ,naavu�y a iTifi2'�Sii j�020�� - - - - —
<br /> 23, 521.50 ,and an and all modificatfons,extenaians end renewals �
<br /> , . in th�original principal emount of S Y � �
<br /> ;_, ;� thereo4 or thereto and any and all tuture advances and readvances to Borrower (or any ot them If more thr�n ono)horeunder �• � .`���
<br /> a�.�� pursuant to one or more pramissory notea or credit agreement3(hereln called"Note");(b)the payment of other sums edva�iced by '�'
<br /> Lender to protect the securiry of the Note;(c)the pertormance of all covenents and agruements of Trustor set foRh hereln;and(d)ell ��a''�
<br /> present and future In�obtedness and obllgationa of Borrower(or eny o1 them if more than one)to Lender whether direct,Indlrect, Y 1 � ,
<br /> ' absolute or contingent and whethor erlsing by note,guaranty,overdrott or othenvise.The Note,thls Deod of Trust and any and all �� : ,. • : k
<br /> ather docuents that seoure the Note or otherwise executed In connectlon therewlth,Including without Ilmltetion guaran:ees,security ...",� _ �.,'
<br /> agroements and assignmanta of leasea and rents,shall be referred to herein as the"Loan Oocuments". �A .� �:w
<br /> Trusto�covonents and egrees with Lender as(ollows: •�,� �
<br /> t. Peyment of lnd�btsdn�ot.All Indebtedness secured hereby ahail be paid when due. � ��" ;4. �i
<br /> 2. Title.Trustor ia the owner ot the Proporty,hes the right and authoriry to convey the Property,flnd warrents that the Iien
<br /> created hereby is a iirst and prior Ilen on the Property, excopt for Ilens and encumbrances set torth by 7rustor in writing and � ��
<br /> del ivered to Lender before executlon oi thls Deed of Trust,and the executlon and dellvery of this Deed ot Trust does not violate any
<br /> contract or other obligetlon to which Trustor is sub�ect �� • `r�,�"�
<br /> 3. Tex�s,As�sfm�nts.To pay hefore dellnquency all taxes,specisi assessments and p1i other chergas egalnst tho�roperty .•,, ,.� �---�
<br /> �, � �,.. i .
<br /> now or hereatte►levled. '''� - "'
<br /> 4. In�uranc�.To keep the Property insurod agalnat damagq by fire,hazerds Included within the term"extended coverage",end �
<br /> such other hazerds ae Lender may►equire,In ar��unts and with companles t�ccepteble to Lender,naming Lender ea an additlonal '-�n
<br /> • namod inaured,wfth toss payabl�to tho Lender.In case ot loss under such policles,the Lender Is euthorized to adJuat,coll9ct and , ;� �i
<br /> compromise,all clulms thereunder and shall heve the opUon of applying all or part of the Insurance proceeds(i)to eny indobt�edness . � • ��
<br /> • socured be�eby and in such order as Lender may dotermine,(II)to the Trustor to be used for thA repalr or restoraUon of tha Properiy �� •
<br /> or(Ifl)for any other purpose or obJect satisfactory to Lender w(thout aNecting the Ilen of thla DeQd of Trust tor the full emount se�ured f:.r,�,�
<br /> he�aby bofore such payment ever took place.Any applicatlon ot proceeda to Indebtedness shall not extond or postpone the due •#,. , •
<br /> date of eny payments under the Note,or curo any detault thereunder or horeunder. ���t-
<br /> ;, '.1�:;.
<br /> , 5. Etcrow.Upon written demand by Lender,Trustor shall pay to Lender,In such mannor ao Lender may designato,sutticlent ;,�y��.
<br /> sums to enable Londer to pay as they becoms due one or more of the following:(I)all taxes,assessment9 and other charpes agafnst �.:�
<br /> tho Properly,(II)tfio promlums on the properry Insurance required hore�nder,und(ili)the premlums on any moRgago inaurance ` : , ?
<br /> required by Lender. � � �
<br /> 3. Melet�nance, Rep�in and Compllanc� �vlth O.awv.Trustor ahall keep the Proporty In good conditlon and repalr;ahall ,�
<br /> promptiy repalr, or replaco any Improvament whlch may ba demaged or destroyed; shull not commit or permit any waste or I• ,� .
<br /> doto�toretion ot tho Property;shall not remove,siemolish or substantlally altar any of the Improvemonis on the Property;shall not �
<br /> commit,at�Her or permft eny uct to be done in or upon the Property In violatlon oi any law,ordinance,or regulatlon;and shalt pay end ��;.
<br /> promptiy discherge at Trustor's cost and oxpan�o all Ilens,oncumbrances end charges lovfed,Imposed or assessed agalnat the . .
<br /> Property o�nny part thereof. � `�
<br /> 7. Emin�nt Dortt=In.Lender fs horeby asalQned all componsatfon,ewards,damages nnd other payments or rellaf(herelnafter ,> ,
<br /> �� "Procsads")In connection wfth condemnativn or othor taking o1 the Properry or part thoroof,or for convoyence In Ileu o1 condemna- •
<br /> tlon.Londer shall be ontitied at Its optlon to commenco,appenr In and prosecute In Its own nnmo anyo action or proceedings,and � �1'
<br /> shell etso be entltied to make eny compromiso or settiemont In connection with such taking or damage.In the svont any portlon of �};
<br /> lhe Proportyr I�so tnken or damaged,Lendor ehall have the optlon,In ite sole and ebsotute dfscretfon,to apply all euch Proceeds, :
<br /> _. ._. ..� �..---- .�...a�.�e.a..muun..u.ai '
<br /> " }, efte�d�tluCttnp tttorOtrOm(ill COSt9 8n0 exppnses incurreo oy ii in connociioi.wnn 6uim rrwo$�a,iiErv.-�a:j�•�..o..•�..-••-------•-- -.- _
<br /> 1 heroby and In such ordor as Lendor mey dQtermino,or to epply all such Proceeds,att�r such deductlons,to the rostoratlon of the
<br /> Property upon such condltions as Lender may determfns.Any appltcation of Procneds to Indobtedness shall not extend or postpone : �
<br /> ' 1 tho due date ot any payments undor the Note,or cure eny datnult the�•eunder or hereundor.Any unnpplled tunds shall be pald to �
<br /> `� � Trustor. a �
<br /> 8. P�rEormanc�by L�nd�r.Upon the occurrenc�of an Evont ot Dotault horoundor,or fi any act i a takon or logal proceeding �
<br /> � i commencetl whlch materfally altocts Lendor's Interest In the Property,Londor may In fts own dfsc►etlon,but wlthoutobllgntlon to do
<br /> i so,and wfihout notice to or domand upon'C�ustor and wlthout roloastng Trustor lrom eny oblignUon,do any aat whlch Trustor hr�s i
<br /> ag�et3d but tatls to do nnd may nleo do nny othe�uct It deom9 necosspry to protect tho security horaof.Trustoo shnll,Immedfatety
<br /> �� I upon domand th�rotor by Lender,pay to Londor aIl costs and oxpc�nsos Incurrod nnd sums expendod Dy Lendor In connoctton with
<br /> y the exorciso by Londor of tho forQgoing rlphts,tt�othor wlth Intarest tharoon nt tho detvult rnta provfded In 4ho Note,wrhfch ahall be
<br /> ; I ndded to the Indebtodness sacurad heroby.Londor ehall not Incur nny Ilabillty bocau�o ot anything It mt�y do or omlt to c7o
<br /> hsreunder.
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