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<br />.BANKS
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<br />88-104948
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<br />Deed of Trust
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<br />882780
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<br />THISDEEDOFTRUS/;lsmadathls~d.YO' Au~ust . 79.Jl1i. by and batwean Rov D. DeMara and ,
<br />Mil ry G n",MA1"R hllRbanrl And wi fp. whether one or morB, (hereinafter Galled the "Trustor"),
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<br />~~~~;tr'i~~~dW:M"'s , at ana asoc at on (haralna"ercalledthe "Trustae"), whose mailing addrassl;
<br />7G7 N Rl1'rlfngf:nnp HnRt-ingR. NE andNORWESTBANK N~h1"ARkR. NRtinm'll AF;Rnr.iRtinn I (hereInafter
<br />cel1edtho"B8neficJa'Y"),whosemalllngaddressis 76.7 N RI11"lfngt'nn, HA~t'ingqr N"F. hAQnl
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<br />. also known as Mary Gaye DeMars J
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<br />WITNESSETH:
<br />IF THIS BOX IS CHECKED { } THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION UEN ACT AND CREATES,
<br />GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY
<br />DESCRIBED HEREINBELOW.
<br />WHEREAS Trustor Is Incfebtacf to Beneficiary in the principal sum 01 Twentv-Five Thousand and no/100---------------
<br />001181$ ($ 25.000.00 ), which indebtedness is evidenced by Trustor's promissory note dated Auaust 30 ,19!!!L.-, (hereinafter
<br />called the "Note"), payable to the order of Beneficiary and having B maturity of February 27 ~ 1989
<br />NOW, THEREFORE. to! rha purpose 01 securing:
<br />(a) payment of the Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions,
<br />modifications, substitutions and renewals thereof,
<br />(b) payment of all other sums, faes or charges, togather with inrerest thereon, advanced to protect the security of this Deed of Tn./St and
<br />the pertonnance of the covenants and agreements of Trustor, whether or not set forth herein,
<br />(c) perlonnance, discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein or
<br />incorporated by reference or any other security instrument at anytime given to secure the Note, and
<br />(d) the repayment of alf other sums or future advances, with interest lhereon, which may heretofore have been or hereafter be advanced
<br />by Beneficiary to Trustor or Trustor's successor in interest or title,
<br />all of which is hereinafter coffeclJvely called the "Indebtedness", Trustor '"8vocably grants and transfers to Trustee. in trust. WITH POWER
<br />OF SALE. the followmg cfescnbecf property:
<br />Adams County property: Lot One (1),
<br />Addition, to
<br />according to
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<br />Block Five (5), Imperial Village Second
<br />the City of Hastings, Adams County, Nebraska,
<br />the recorded plat thereof. AND
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<br />Hall County property - See Exhibit A
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<br />together with (i) all buildings. structuros. additions. enlargements. modificalions, repaits. replacements. and improvements now or hereafter
<br />located thereon, (ii) all equipment, machmery and fixtures (including. without /imitation. al1 lighting, heating, ventilating, cooling, air
<br />conditioning, sprinkling and plumbing fixtures. waler and power systems. engines. boilers. ranges. ovens, dishwashers, mirrors and mantels,
<br />carpering, furnaces, oil burners. elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers. electrical
<br />equipment, storm and screen windows, doors. awnings and shades) now or hereafter attached to. or built in, any builC!ing or improvement
<br />now or hereafter located thereon. (Iii) aU easements and rights of way appurtenant thereto, (iv), aI/leasehold estate, nght, title and interest of
<br />Trustor in and to all/eases. whether now or hereafter existing or entered into (including. without /imitation. all cash and security deposits,
<br />advance rentals and deposits or payments of 8 similar nature), penaining thereto. (v) all rems, Issues, profits and income therefrom (subject
<br />to the right of Trustor to col/ect and apply such rents, issues, profits and income as they tJecome due and payable so fang as no event of
<br />default exists hereunder), (vi) all royalties. mineral, 011 and gas rights and profits. water. water rights, and water stock, (vii) al/ tenements,
<br />hereditaments, privifeges and appurtenances belonging. used or enjoyed in connection therewith. and (viii) all proceeds of conversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including. without limitation, proceeds of insurance and
<br />condemnation awards), all of which is hereinafter collectively cal/ed the "Trust Property"
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST. TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
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<br />1. Title. Trustor covenants, warrants and agrees with Beneficiary. ,ts successors and assigns. thai Trustor owns the Trust Property free
<br />from any prior lien or encumbrance, that thIS Deed o( Trust is and will remain a ..alid and enforceable first lien on the Trust Property,
<br />that Trustor, at its expense, will preserve such liUe and will maintain thIS Deed o( Trust as a first and paramount lien upon the Trust
<br />Property and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties
<br />whomsoever. Trustor, at its expense. will cause this Deed of Trust. and each amendment or supplement hereto, to be filed and
<br />recordod as a mortgage of the Trust Property in such manner and in such place and will take such action as in the opinion of Trustee
<br />may be required by any present or future law in order to perfect, maintain and protect the lien of this Deed of Trust, as the same may
<br />be amended or supplemented from time to time. Trustor will make such further assurance or assurances to perfect its title to the Trust
<br />Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead In and to the Trust Property.
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<br />2. Payment of Indebtedness. Trusror shall punctually pay the principal at and interest on the Indebtedness secured hereby.
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<br />3. Construction of Improvements. Trustor shall complete in good and workmanlike manner any buildings. improvements or repairs relating
<br />thereto which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when
<br />due all costs and liabWties incurred therefore, and not to permit Bny construction lien against such Trust Property. In the event
<br />construction of buildings, improvements or repairs are contemplated, Trustor also agrees, anything in this Deed of Trust to the contrary
<br />notwithstanding; (a) to promptly commence any such work and to complete the proposed improvements promptly, (b) to complete the
<br />same in accordance with the plans and specifications as approved by Beneficiary. (c) to comply with alllhe terms of a building loan
<br />agreement, if any, between Trustor and Beneficiary, the terms of whIch are incorporated herein by reference and made a part hereof.
<br />(d) ro allow Beneficiary to inspect the Trust Property at all times during construction, ana (e) to replace any work or materials
<br />unsatisfactory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact
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<br />4. Funds for Payment of Charges. Subject to applicable law or to a written wailler by Beneficiary. Trustor shall pay to Benefir.Jary on the
<br />first day of each month, or such other dale each month as may be specified by BenefICiary. unlit the Indebtedness IS pwd in lull. a sum
<br />(hereinafter called the "Funds") equal to 1/12th of the yearly taxes and assessmants which may altain priority over this Deed of Trust
<br />and ground rents on the Trost Property, if any, plus 1112th of the yearly premium installments for hazard insurance, plus 1/12th of the
<br />yearfy premium instaJlments fat mortgage insurance. if any, all as reasonably estimated initially and from time to time by Beneficiary on
<br />the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution. lhe deposits or
<br />accounts of which are insured 01 guaranteed by a federal or state agency including Beneficiary. BenefiCiary shall apply the Funds to
<br />pay said raxes, assessments, insurance premiums and ground rents. Beneficiary shall nol be required to pay Trustor any interest or
<br />earnings on the Funds. Beneficiary shall give to Trustor, without charge. an annual accounting of the Funds showing credits and
<br />debits to fhe Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as addItIOnal secunty lor
<br />the Indebtedness secured by this Deed of Trust If lhe smaLlnr of the FundS held by Beneficiary. together with the future monthly
<br />instBIlments 01 Funds payable prior to the due dates of taxes, assessments. insurance premIums and ground rents, shall exceed the
<br />~.mt 15quired to pay said taxes. assessments. insurance premiums and ground rents as they fall diJe. such excess shall be. at
<br />Trustor's option. either promptly repaid to Trustor or credited to Trustor against luture monthly Instaflments of Funds /I rho amount of
<br />the Funds held by Beneficiary shall not be suffiCIent 10 pay tares. assessments. insurance premIums and ground rents as thell lall due.
<br />TruslOt shall pay to BenefiCiary any amount necessary to malco up the deficiency WIthin thIrty days from the date notlco IS mailed by
<br />Beneficiary 10 Trustor requesting paymen' thereaJ. Upon payment in tul, f all Indebtedness. BenefiCIary shall prompt/v refund to
<br />Trustor any Funds held by BenefiCIary. If the Trus. Proporty is sold und' rhe power of solo or the Trust Property IS orherw,se o1cqwed
<br />by BeneficilU'y. BenefiCIary shall apply, Immediately prior ro the sale (. ,Trust Proporty Of Irs aCQUISItion b~' Benl.fICiiff)' nn~ Funds
<br />held by BaneflClary ar rho time at appticafJ011 as B credit against tho In tedness If Bonel/cliiT)' f!1'(>cutcs " "'flrtml WillVtH Llf Trustor !I
<br />obligations under tJus paragraph 4. Trus'Of collenants and agreos to p before the same boconw r1tlllnqut11lt .!II riJU~~ d~.w,..smtl"'5
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