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Iot FG (4)r Rrrle Taim Fbtates, City to Gard Tslarrl, till Canty I2bra!Sm. IT IS UNDERSTOOD BY BORROWER AND LENDER THAT THIS INSTRUMENT, WHICH IS SECURED BY THE ABOVE REFERENCED PROPERTY, IS A CONSTRUCTION SECURITY AGREEMENT AND THAT IT DOES OR WILL SECURE AN OBLIGATION WHICH THE BOnROWEn HAS OR WILL INCUR FOR THE PURPOSE OF MAKING AN IMPROVEMENT OR IMPROVEMENTS ON PROPERTY HEREINDEFORE DESCRIBED. Together with all buildings, Improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances located thereon or In anywise pertaining thereto, and the rents, Issues and profits, reversions and remainders )hereon Including, but not limited lo, healing and cooling equipment and such personal property that Is attached to the Improvements so as ht constitute a fixture; all of which, Including replacements and additions thereto, Is hereby declared to be a pad of the real estate secured by the lien of this Deed of Trust and all of the foregoing bong refened to herein as the 'Properly'. This Deed of Trust shall secure (a) the payment of the principal sum end Interests evidenced by Borrower's note dated F'FbrUny 5, 21103 having . maturity data of Jara2ry 15, In the original principal amount of $ 225s000•0] and any and all modigcalions, exlenslons end renewals Ihereol ar )hereto (herein called 'Note); (b) the payment of other sums advanced by Lender to protect the security of this Deed of Trust, with Interest thereon as provided In the Note; and (c) the performance of all covenants and agreement to Borrower set forth herein. Borrower, to protect the security of this Deed of Trust, covenants and agrees with Lender as follows: I, r t. Payment of Principal and Interest. Borrower shall promplly pay when due the principal of and Interest on, and any fees or charges provided In, fire Note or In this Deed of Trust. 2. Tiflo. Borrower Is the owner of the Properly, has the right and authority to convey the Properly, and warrants that tire lien created hereby Is a first and prior lien on the Property, except as may otherwise be set lodh herein, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Borrower is subject. G. Taxes, Assessments. To pay when due all taxes, special assessments and all other charges against the Property and, upon written demand by Lender, to pay to Lender such amount as may be sufficient to enable the Lender to pay such taxes, assessments or other charges as they become due. 4. Insurance. To keep the Property Insured against damage by fire, hazards Included within the term 'extended coverage% and such other hazards as Lender may require, in amounts and with companies acceptable to the Lender, and with loss payable to the Lender, In case of loss under such policies, the Lender Is authorized to adjust, collect and compromise, all claims thereunder and shall have the option of applying oil or pod of Ilia Insurance proceeds (1) to any Indebtedness secured hereby and In such order as Lender may determine. ill) to the Borrower to be used for the repair of restoration of Ilia Property or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trost for the lull amount secured hereby before such payment ever look place. Any application of proceeds to Indebtedness shall not extend or postpone the due dale of any payments under the Note, or cure any default thereunder or hereunder. °113681Me (OM, Page 1 or a 1 , m l rl rd D = m N ,..t t x v z —r ��o o O Z O N N o n � N ! DEED OF TRUST 200301501 AND CONSTRUCTION SECURITY AGREEMENT THIS DEED OF TRUST, Is made as of the 5th day of F�.iary 2703 , by and among Ilse Tneslor, Staeost]m l}a�, uc. 8;17 W. 4th St., (3ad , NE , (herein 'Borrower'), the Trustee, Archer OCQ]era/t�PiEqC�Y_B�$t iTnQl — (hcreln 'Truslee'l, and the Beneficiary, ArdYx •+Dc --atfw credit adon fhercer 'Lender'). FOR VALUABLE CONSIDERATION, Including the Indebtedness Identified herein O and the trust herein crealetl, the receipt of which Is'�. hereby acknowledged. Borrower hereby Irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for C the benefit and ..Guilty of Lender, under and subject to the terms and conditions hereinafter set forth, the real properly, described as follows: Iot FG (4)r Rrrle Taim Fbtates, City to Gard Tslarrl, till Canty I2bra!Sm. IT IS UNDERSTOOD BY BORROWER AND LENDER THAT THIS INSTRUMENT, WHICH IS SECURED BY THE ABOVE REFERENCED PROPERTY, IS A CONSTRUCTION SECURITY AGREEMENT AND THAT IT DOES OR WILL SECURE AN OBLIGATION WHICH THE BOnROWEn HAS OR WILL INCUR FOR THE PURPOSE OF MAKING AN IMPROVEMENT OR IMPROVEMENTS ON PROPERTY HEREINDEFORE DESCRIBED. Together with all buildings, Improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances located thereon or In anywise pertaining thereto, and the rents, Issues and profits, reversions and remainders )hereon Including, but not limited lo, healing and cooling equipment and such personal property that Is attached to the Improvements so as ht constitute a fixture; all of which, Including replacements and additions thereto, Is hereby declared to be a pad of the real estate secured by the lien of this Deed of Trust and all of the foregoing bong refened to herein as the 'Properly'. This Deed of Trust shall secure (a) the payment of the principal sum end Interests evidenced by Borrower's note dated F'FbrUny 5, 21103 having . maturity data of Jara2ry 15, In the original principal amount of $ 225s000•0] and any and all modigcalions, exlenslons end renewals Ihereol ar )hereto (herein called 'Note); (b) the payment of other sums advanced by Lender to protect the security of this Deed of Trust, with Interest thereon as provided In the Note; and (c) the performance of all covenants and agreement to Borrower set forth herein. Borrower, to protect the security of this Deed of Trust, covenants and agrees with Lender as follows: I, r t. Payment of Principal and Interest. Borrower shall promplly pay when due the principal of and Interest on, and any fees or charges provided In, fire Note or In this Deed of Trust. 2. Tiflo. Borrower Is the owner of the Properly, has the right and authority to convey the Properly, and warrants that tire lien created hereby Is a first and prior lien on the Property, except as may otherwise be set lodh herein, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Borrower is subject. G. Taxes, Assessments. To pay when due all taxes, special assessments and all other charges against the Property and, upon written demand by Lender, to pay to Lender such amount as may be sufficient to enable the Lender to pay such taxes, assessments or other charges as they become due. 4. Insurance. To keep the Property Insured against damage by fire, hazards Included within the term 'extended coverage% and such other hazards as Lender may require, in amounts and with companies acceptable to the Lender, and with loss payable to the Lender, In case of loss under such policies, the Lender Is authorized to adjust, collect and compromise, all claims thereunder and shall have the option of applying oil or pod of Ilia Insurance proceeds (1) to any Indebtedness secured hereby and In such order as Lender may determine. ill) to the Borrower to be used for the repair of restoration of Ilia Property or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trost for the lull amount secured hereby before such payment ever look place. Any application of proceeds to Indebtedness shall not extend or postpone the due dale of any payments under the Note, or cure any default thereunder or hereunder. °113681Me (OM, Page 1 or a 1 ,