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<br /> M�BANHS
<br /> �� THISOEEOOFTRUSTIsmade[hls__ZttL—dayol Decemb� ,1�J.��,byandbotKrean _R.Q..ed and Reed� Inc• , ___
<br /> � a NFj�ae a Cor nr� at�on whether one or mom, (herelnaftcl�ca/�ed fho"Tn�sta"),
<br /> whosemailingeddressls�, ^ Box lO1S, �rand Ial.and NE 68802 _
<br /> � . . � NDAWfS7SANK I`� h�r� k3�Iy'.^oC1an8? Aqsoaiari on —_(heafna'arcal;�d tha"]iusr7),�.l:a�maCirtg�dUrr,r!� �---
<br /> �� ' � 2p7 w_ �rd St_s r.rand Ta7 And��,andNORLYESTHANK �L�.raeka National Aeaociation ,�nereinatte► —
<br /> - , ca�ledthe'Bonorlc�nry),whosomalllnpa,7�l�essls 242�I....�r�1 St• . G�and IsLand. N� 68801 . ___
<br /> ,.. WITNESSETN: ---
<br /> •. ' IF TH►S BOX IS CHECKED� THIS DEED OF TRUST CONSTl1UTES A CONSTRUCTlON SECURITY ACiREEMENT UNDEA THE NEBRASNA _
<br /> CONSTRUCTION UEN ACT AND CREATES,GRAN15 AND CONSTI NTES A CONSTRUCr/ON SECURIIY lNTEREST IN THE PAOPERIY _
<br /> DESCRIBED HEREINBELOh!
<br /> WHEREA� Trusror ls Indabled ro Aenoliclory/n the princlpal sum ol SIXTY THOUGANi> pND NO/100-------^---------�---
<br /> poifara(3 h 0,QQ 0.�0 �,whfch lndebiednoss!s evldonced by TiusroYs promissory nofo dated�4�.IDb e r 7 , 19��i.(hero/nafter _
<br /> , � celled the"NOto'�,payable to the ordor of Benellclary and having a matudry ol •T,ine 9_, 1995 .
<br /> ' NOW, THEREFORE,for the purpose ol secudng:
<br /> (a)psymenf d the Note�togethe�with lnterest thareon,late chsrges,propayment penaltle�eny futurs edvances,and all oxtenslons,modr6catlon�,
<br /> subSGtutlons and renawals thorool, °�
<br /> (b)paymeni o!a11 othe�sums,lees o�chargo�[ogether with inferest thereon,advanced ro pmtact the secuqty ot thls Deed of irust and the peAonnsnce `-'�-r
<br /> • o/th,e carnants and egreements ol Tiusta,whothor or not sef lorth hera/n, �,__,
<br /> (c)porlormanCe,dlscharge of and compl/ance wlth every terrn,covenant,obligadon and agreement o)Tiustor cont¢Ined herr�ln or inCO�porated by
<br /> � ., raference or qny other securiry lnswment et artyNme�IvBn to secure Ne Notet and
<br /> (�the repayment o!ell other sums a future edvencoA wifh Inrerest therean.�vhich may heretofore hwe bean o�hereat�r be advanced by Boneflcrary ro r��
<br /> , lYusra ar rrustora succossor In lnterest a rlua =---
<br /> ell d whkh!s hereinelter collecUirey calkd the"Indebtedness'; Tiustor tnewcaby grents and uansfe�s ro Tiustee,ln Gust WI�H POWER OF SALE,the =_°°
<br /> lo0owing descr(bed Property.' :�`
<br /> Lot �hree (3), Jeffrey Oaka Second Subdivision, in the City of Grand Island, Hall
<br /> , ;�;
<br /> ., County, Nebraska. ;��.:
<br />_ . ,
<br /> ��:•i,.'' topather wlth(i)all bulldings,structuro�addttbns,enla�gemen[s,modAicetion�repelrs,ruplacaments, and Improvemonts nav or herealter located thareon� "N'��
<br /> _ , , ,. {I�)all oqulpmen�,machlnery and fixtures(including,without limitetlon,all lighNng,heatlng, venNating,cooling,eir conddlonin�,spdnkling and plumbtng , ''''•
<br /> � fixturost waror end pavei system�englnes boilers,rartgo�ovens,distnvashers,mlrrors snd msntel�carpeting,lumaces,oil bumors,e;evarors and '
<br /> � moto�refdge�aWn plants a unitq communlcstlon systemS dyr.amo�hansfo�morS e/ectrical equlpmant,storm and screen wlndow�doa&awNngs snd !!�" .
<br /> ' shades)nav o�herealter aflaChed ta o►bupt In,any building Improvement or lmpro�rement nav or hervatter located thoreon,piq ell easoments snd dghts ot y,:�
<br />- way appurtonnnc themta(Iv)all lessehofd estare,rlght,UfW and!n(erest of Tiustor fn 8nd to 811)easeS whethar now or hereaRer exlSNng or cnteiad lnfo
<br /> (including,wlthout flmitatlon,all cash and socudty deposltS edvance rentels and deposits or psyrnants ot a slmllar natum),pertaJning th�reto�(v)sll rents, �
<br /> " Issut3s,profits and lncomo thore/Nm(suaect to the nght ot Tiustor ro collc�ct end appry such rents,issues,prolits and Income as�hey becomo due snd
<br /> payt+ble so long as no mrent of default e�sts heround��),(vi)alf royaltfe�mineral,oll and gas dghis and profit&wate�water dghtS and waror stock,(vli)efl
<br /> `� tonertwnt�hereditament�prlvllege9 And eppurtenancos bolong/ng,used a enJa�sd In conneUion Iherowith,and(vlii)all procoeds o1 corrverslon,voluntary
<br /> _ - or/nva/uninry,01 nny ol tho(oregoing lnto cash or Iiquldated cloims(including, wdhout limitatlon,proctteds ol(nsurnnco and condemriotion awa�afs),all 01
<br /> , � wh�h!s horolnafter collectivoy ceilled the"Tiusf Property': .�
<br /> : 1n PROlECT lHE SECUAIlY OF TNIS DEED OF TRUST. TRUSR7R COVENANTS AND AGAEES AS FOLLOWS:
<br /> 1. Titla Tiustor couenants,wansn�s end agreos with Beneliciary,its successors and assigns,fhat Trustor wms the Tiust Pmperry Iree hom erry pnor Iron
<br /> „ ' or pncumbrance,thet thls DUad oi Tiust(s ond w!ll mmam a valid and enfurGeab:o/irst lien on mp Tiust Properry,tnat Tiusroi at tts oxpense,wlll �
<br /> " presenre such UUe snd will malntaln this Doed ol Tiust as a lirst and pnramount Ilon upon iho Tiust Proporty and�vill lorevtir warrant and defpnd tho
<br /> �� validiry end prtorlry ol the Iion homol aga/nst tho cl�lms ot all persons and partlos whomsower.Trusror,at!ts expense, will causo thls Decd of Tiust, �
<br /> and each amondmont or supp7ement harstp ro bo l�lod and�ecorded as a mortgage o!tho rrust PNpvrty fn such manner snd in such pla^e und wi;l
<br /> � tako such sdlon as!n tho optnlon o1 rnasteo may be�equhed by ary prosent or lufufe law 6�order[o pedect,maintain snd profect the f�en of thfs Deed I
<br /> of Tiust,os�ho samo mrry tra amcndod or suppl�mrnrotl Im:n timo ro tima. Tiusfrn will matg sudr further assurence or assurences ro pedect its tdlo ro
<br /> � Me Tiust Property ns may be mqulieC tr/Bonefkfary.Tiustor herotr/relinQu(shes fll!dght d dnwcr and homsstoad(n snd fo the Tiust Proporry.
<br /> 2. Paymenc of!ndebtedness Tiusror shal!punctually pay tho pr/ncipal of and/n(erest on tho Indeb:edness securod hereby I
<br /> . a ConstrucLfon ol fmpra��ments.Tiusror shuil campleR�Jn good and workmunGke munnor an/bu�hifigs,imprwamonts or repairs rtala6ng therc�to which �
<br /> - may bo bagun on the liust Pr�party or contemplatod by tho ban evidenoed by the Note securtid hemby,ro p�y when duo all costs and tlabrllnes
<br /> ' Incurrud themforet and not to permlt arty constructlon lion agffinst such Tiust►'ropert}! fn Mo euent const�ucdon ol buildings,improvements or ieprvrs
<br /> tue contemp7atod,7 ustu�slso ag�eo�t�nylhing(n this Dood d Tiust to thv contrsry nonvirhstandmg;(a)ro prompty commonco ay such work and ro i
<br /> complt�'o the p�vpo:ed unprovements p�orrptfy,(b)ro complero[ho samo�n accorda�as wnh ►he plt+ns and spociGcat�ons ns opprovttd by Benebclary.
<br /> ` (c)[o compfy w(th a!1 the terms o1 a build;ng loan ayrecament,A any,ba�vesn Tiusfor and 6ortefiUruyt the rom:s of�vhrch are mcorpoiatod hervin by
<br /> �'� ...e�An�nnnv nt a0 fimne`G�nnn rwfetnir7ufn anr�!al Ms mNaro a�v uuv4 iv
<br /> -�_---.--.. ._ �s e.,,r...e.re e..ew we,n.d n+�e..ew...ne..er...te..,e..:,.e..e,.���T .
<br /> .. -, . __.-_._. ___.:-_�._-:-_ ....�.�..�.�...._.....�..r..�........_.....,.`.�...�...�......���'__.,.r��..._.._�.._�_.., _'' ' _' _' •' _ •_• _ .�"__�
<br /> t materials unsutisfecrory ro Benelidary with(n Idteen(15)days ahs�wntten notrco from 8ant.'�cfary of such facL
<br /> .. � A Funds for P,rymont ol CholgoS Subject ro app rcab!o law or ro a wntten�vMt3�by BCnelydary, ilusror shalf prry ro Benoliclary on tho hrst drry o1 each
<br /> �r ' monfh,Or SuCh athor daN c3nCh month as mty Do SpCaifiOd by Benpf,`C(ary, unLl the Indeb:ednoss�s p8rd in full,a sum(hp�emefper called Ihe"Funds'7
<br /> tt� �� oquttl to 1/12Ih ot(ho yoyfy tUxos und assossmen�s wh(ch m3y atta�n prtonry over tNS Deed ol irust and ground ronts on fho Trust P�p�prty,d arry:plus �
<br /> P' 1/12th of tA9 yetirfy prerntum rnst311mants for hazafd fnsuronG�l plus 1/t?th ol tho yearty pNmrum rnstal;monts f0�moRgage rnsuranCO.Aarry.o�l as
<br /> }; , � ronsonably oSPimatGd(nlfislly pnd�rom timp to hme by Benel�Cr3ry on tho bas�s ol ossn:sments and b�ps nnd mnsonablo vsbmatvs thoroW. iho Funds
<br /> � shafl bo hc.dln an�nsGtution,tho deposits or accounts ol whtCh aru rnsurtrd or gu3�unfvodDy n fpdcral o�Sta(o agoncy r.iClud:ng 8anohpary
<br /> BenoliC(aly shall appfy tAO Furtls ro ptty sa:tl tnx�S t�ssoSSn7ents m5u�anc0 p�amrums an0 ground runts Bortofraary shnll not be roqwrod to p�y
<br /> • Trustor anylntefost nr eam;ngs on tho Funds.Benof�citsry sha,7 grtro to TlustW,wdhouf Chlugp, on annuol accounhng ol tno FundS Shv�,vmq crcWils and
<br /> , detrits m�ho Funds end ms purposo far wh;Ch GaCh do0rf fo(ho Furtds was mado. Tho FunOS art�plcdt�cd os adddionnl svc�mty fo�Mp IntleDtednuSs
<br /> � ., secund by fhls Dood o1 I/usf.If tho or,rounf ol tho Funds ho:d by Bene!K�ary,togethor wdh�Ra/uturt monMty mstoCments ot Funds p�yab:e pnor ro
<br /> y tA�duo d�teS o/t9xC�asSOSSmvntS rrtsu�artCO premrums ctn�grvurtd rents Shall o�cod Inn umounf mquuvd ro pay sa:d[aavs, aSSOSSmentS
<br /> �F ' rnsuranco pmmrums and ground rents as tney fal!duo sucl►oxcoss shall bo,at Tiusror3 optron,erther p,omptty mp�rd to Tiusror o�aoditod to lrustUr
<br /> �� . nc�t,o���ro ru vr.ae»y,
<br />
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