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DEED OF TRUST j AND CONSTRUCTION SECURITY AGREEMENT THIS DEED OF TRUST, Is mode as of the Sth day of 200,3 by and among the Truslor, Staxtostka Ions , lug., 807 W. 4th St., as d Tslard, NE (herein 'Bonower'h the Trustee, Ardter dative 0 dit UAan (herein 'Trustee'), and the Beneficiary, Afdler fbpe ; atiue CmAt Ihion (herein 'Lemba'). FOR VALUABLE CONSIDERATION, Including the Indebtedness Identified herein and the bust herein created, the receipt of which Is hereby acknowledged, Borrower hereby Irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real property, described as follows: Lot Six (6), Amick Acres East Subdivision, Doniphan, Hall County, Nebraska. 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 BORROWER HAS OR WILL INCUR FOR THE PURPOSE OF MAKING AN IMPROVEMENT OR IMPROVEMENTS ON PROPERTY HEREINDEFORE DESCRIBED, Together with all buildings, improvements, fixtures, slreele. alleys, passageways, easements, rights, privileges and appurtenances lmaeled Rosen or in anywise panelling thereto, and the reals, Issues and profits, reversions and remainders thereof; Including, but not limited lo, heating and cooling equipment and such personal property that Is attached to tire Improvements so as to constitute a lixime; all of which, Including replacements and additions thereto. Is hereby declared to be a part of the real estate secured by the lien of this Decd of Trust and all of the foregoing being referred to herein as the 'Property', t ' This Deed of Trust shall secure (a) the payment of the prncipal suns and Interests evidenced by Borrower's note dated Eshnnry S. 2DD3 having a maturity data of J ffmry l$, 2OD4 I in the original principal amount of $ 225.000.00 and any and all modifications, extensions and renewals thereat or thereto (herein called 'Note); (b) Ilia payment of other some advanced by Lender to protect the security of this Deed of Trust, with Interest (hereon as provided In the Note; and (c) the pedonnance of all covenants and agreement to Borrower set forth herein, Borrower, to protect Ilia security of this Deed of Trust, covenants and agrees with Lender as follows; 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and Interest on, and any lees or charges provided In, the Note or In this Deed of Trust. 2. Title. Borrower Is the owner of the Property, has the night and authority to convey the Property, and worums that the lien created hereby Is a first and prior lien on the Property, except as may otherwise be set forth herein, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Borrower Is subject. 3. 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 olher hazards as Lender may require, in amounts and will, 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 all or pan of the Insurance proceeds (I) to any Indebtedness secured hereby and In such order as Lender may determine, (ii) to the Borrower to be used for the repair of restoration of the Property or (iii) for any other purpose or object satisfactory to Lender Without affecting the Ilan of this need of Trust for the lull amount secured hereby before such payment ever look place. Any applicallon 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. 11368AMG (OM) IIt I Pova 1 of 4 3 l . re S o n m M Z M \l C1 n to z plc m z y m N M N -�,3 o < O 200301502 DEED OF TRUST j AND CONSTRUCTION SECURITY AGREEMENT THIS DEED OF TRUST, Is mode as of the Sth day of 200,3 by and among the Truslor, Staxtostka Ions , lug., 807 W. 4th St., as d Tslard, NE (herein 'Bonower'h the Trustee, Ardter dative 0 dit UAan (herein 'Trustee'), and the Beneficiary, Afdler fbpe ; atiue CmAt Ihion (herein 'Lemba'). FOR VALUABLE CONSIDERATION, Including the Indebtedness Identified herein and the bust herein created, the receipt of which Is hereby acknowledged, Borrower hereby Irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real property, described as follows: Lot Six (6), Amick Acres East Subdivision, Doniphan, Hall County, Nebraska. 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 BORROWER HAS OR WILL INCUR FOR THE PURPOSE OF MAKING AN IMPROVEMENT OR IMPROVEMENTS ON PROPERTY HEREINDEFORE DESCRIBED, Together with all buildings, improvements, fixtures, slreele. alleys, passageways, easements, rights, privileges and appurtenances lmaeled Rosen or in anywise panelling thereto, and the reals, Issues and profits, reversions and remainders thereof; Including, but not limited lo, heating and cooling equipment and such personal property that Is attached to tire Improvements so as to constitute a lixime; all of which, Including replacements and additions thereto. Is hereby declared to be a part of the real estate secured by the lien of this Decd of Trust and all of the foregoing being referred to herein as the 'Property', t ' This Deed of Trust shall secure (a) the payment of the prncipal suns and Interests evidenced by Borrower's note dated Eshnnry S. 2DD3 having a maturity data of J ffmry l$, 2OD4 I in the original principal amount of $ 225.000.00 and any and all modifications, extensions and renewals thereat or thereto (herein called 'Note); (b) Ilia payment of other some advanced by Lender to protect the security of this Deed of Trust, with Interest (hereon as provided In the Note; and (c) the pedonnance of all covenants and agreement to Borrower set forth herein, Borrower, to protect Ilia security of this Deed of Trust, covenants and agrees with Lender as follows; 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and Interest on, and any lees or charges provided In, the Note or In this Deed of Trust. 2. Title. Borrower Is the owner of the Property, has the night and authority to convey the Property, and worums that the lien created hereby Is a first and prior lien on the Property, except as may otherwise be set forth herein, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Borrower Is subject. 3. 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 olher hazards as Lender may require, in amounts and will, 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 all or pan of the Insurance proceeds (I) to any Indebtedness secured hereby and In such order as Lender may determine, (ii) to the Borrower to be used for the repair of restoration of the Property or (iii) for any other purpose or object satisfactory to Lender Without affecting the Ilan of this need of Trust for the lull amount secured hereby before such payment ever look place. Any applicallon 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. 11368AMG (OM) IIt I Pova 1 of 4 3 l .