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<br />DEED OF TRUST
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<br />88_103891
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<br />THIS DEED OF TRUST. made this 15th day of
<br />VBR, Inc.
<br />
<br />Ju1v
<br />
<br />, 19 ..wl-.- , between
<br />as Trustor,
<br />as Trustee,
<br />as Beneficiary:
<br />
<br />Firsller Bank, National Association, Omaha. Nebraska
<br />Firsller Bank. National Association, Omaha. Nebraska
<br />
<br />WITNESSETH:
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<br />That Trustor irrevocably grants, transfers and assigns 10 Trustee in trust, with power of sale, the following described
<br />property:
<br />
<br />The Westerly One-Third (W 1/3) of Lot Five (5), in Block Fifty-Six (56)
<br />in the original Town, now City of Grand Island, Hall County, Nebraska.
<br />
<br />together with all interest which Trustor now has or may herealler acquire In and to said property and in and to: (a) all
<br />easements and rights of way appurtenant thereto; ( b ) all tenements. hereditaments, buildings, structures, improvements,
<br />fixtures, equipment, furnishings and appurtenances now or herealler placed thereon; (c) all leasehold estate. right title,
<br />and Interest of Trustor In and to all leases or subleases thereof or any portion thereof now or hereafter existing or entered
<br />into, and all right, title. and Interest 01 'frustor thereunder, Including, without limitation, all cash or security deposits, advance
<br />rentals, and deposits or paymenfs olllmilar nature, and (d) all mineral. oil, gas rights and profits, water, water rights, and
<br />water stock. Trustor agrees to execute and deliver. from lime to time, such further instruments as may be requasted by
<br />Beneficiary I" lorm and substance Illllisfactory to Beneliciary to confirm the lien 01 this Deed 01 Trust on any of the
<br />aforementioned property, The property so conveyed to Trustee hereunder is hereinafter referred to as "such property",
<br />
<br />The Trustor absolutely and irrevocably grants. translers and assigns to Beneficiary the rents, income. Issues, and prolils
<br />01 all property covered by this Deed ot Trult.
<br />
<br />FOR THE PURPOSE OF SECURING:
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<br />,. Payment of the principal sum 01 Thirtv f1even thousand and no/100--------------
<br />__________($37,000.00) Dollars--------------
<br />evidenced by the certain promissory note dated 01 even date her_ith (hereinafter relerred to as the "Promissory Note"
<br />executed by VBR. Inc.
<br />
<br />in said amount and peyabhllto the order 01 l:Ieneficiary maturing on Julv 15. 1993 .
<br />together with Interest thlll'eon. 'ate charges, and prepayment bonu_ according to the terms 01 the Promissory Nots
<br />and all renewals. extensions, and modilicalions thereof.
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<br />2. Peffonnance, diacharge of and compliance with every obligation. covenant and agreement oi Trustor incorporated by
<br />rellll'&nce or contsined herein or in any other security agreement or deed 01 trust at any lime gh.."n !:> secure any
<br />indtlbtednesa hereby secured. or any part thereof.
<br />
<br />3. Payment 01 all fees and charges 01 Benellciary or Trustee. whether or not set torth herein,
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<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST. TRUSTOR COVENANTS:
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<br />TITLE: That it Is lawfully seized and posS8$S8d of a good and indefeasible title and estate 10 all 01 such Droperty in lee
<br />simple free from any prior lien or encumbrance, has good right and lawful authority to convey the same, and will forever
<br />warrant and defend the title thereto against the claims and demands 01 all persons whosoever; that it will, at its expense.
<br />maintain and preserve the lien 01 this Deed of Trust as a first and paramount lien upon such property.
<br />
<br />MAINTENANCE: To keep such property in good condition and repair. to complete or restore promptly and In good and
<br />w~man1ike mannlll' any building which may be constructed. damaged or destroyed thereon and to pay. when due, all
<br />claims for labor performed and materials furnished therefore and lor any allerations thereof: 10 comply with the provisions
<br />of all Insurance pelleles covering said Qremlses. to comply with all laws, ordinances. regulations, covenants, conditions
<br />and realrlctionl alfec:ting such property; not to remove, demolish or materially alter any building, or the character or use
<br />thereof at any lima thereon: not to driil or extract nor to permit the drilling lor or extraction of oil, gas or other hydrocarbon
<br />IUbIIanicea. __or any minerai of any kind unl8S8 the written consent 01 Beneficiary Is had and obtained; not to commit or
<br />pennlt any....thlll'eof or any act upon such Qroperty In violation of law; to do all other acts in a timely and proper manner
<br />which trom the chatacter Of UIMI of such property may bel1l8lOnably necessary to protect and preserve seld security, the
<br />Ijl8ClfIc enumeratlone herein not excluding the general,
<br />
<br />l
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<br />CONSTRUCTION OF IMPROVEMENTS: Tocomp'ste in good and worltmanllke manner any building or Improvement or
<br />repd relating thereto which may be begun on luch property or contemplated by the loan secured hereby. to pay when due
<br />allCOllSanclliabllitlellncurredth8felore.and nottopermlt any meenanic's lien against such property, Truslor also agrees.
<br />anything In thle Deed of Trult to ths contrary notwithstanding: (a) 10 promptly commence work and 10 complete Ihe
<br />propoMd I~IS Qromplly. (b) to complete Illlme in accordance with plans and lpeclficatlons as approved by
<br />BenellcIary.1 c)lo comply with all 01 the terms of any building loan agreement between Trustor and Benoficlary, thelerms 01
<br />which Bfe IncOfpotll1ed herein by reference to 11'18 seme extent aliI fully setlorth herein and made a part of this Deed ot
<br />Trull (d) 10 allow Beneficiary to Il1apect such property at all times during construclion. and (e) to replace any work or
<br />material' unMtj,taclOry 10 BenefIciary. within fifteen ( 15) days after written notice lrom Beneficiary 01 such lact. whIch
<br />notICe may be Q4Y8<110 T ruSlor by regis_ed or certified mail, sent to his last known addroas. or by personal service of lhe
<br />same
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