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aAN «S $%-- 103661 Deed of Trust THfS DEED OF TRUST is whose mating address is called the "Bevteficiaiy' ), wtiose mailing address is Kenneth E. Hilligas & Raawna R. 19-AZ,byandbatweerrHilliQae• hu ®band & Wife ICU9 whether one or more, (hereinafter called the "Trustor "), the }}�"Trustee' ), whose mai`N_nguja-d-drre�ss is iou -.-� . (hereinafter WITNESSETH: IF THiS BOX IS CHECKED f J THiS DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LiEN ACT AND CREATES, GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY DESCRIBED HEREiNBELOW. WHEREAS, Trusts is indebted to Beneficiary in the principal sum of FIFTY THOUSAND AND Dollars ($ 5tl,000 .D0 ), which indebtedness is evidenced by Trustor's promissory note dated .Tune 3 . 19 HL , (hereinafter calved the "Note" ), payable to the order of Beneficiary and having a matunly of March 1 1488 NOW, THEREFORE, for the purpose of securing: (a) payment of the fie, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions, modNicaijo ns, substitutions and renewals thereof, (b) payment of all otter sums, lees or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and the performance of the covenants and agreements of Trustor, whether or not set forth herein, (c) performance, discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein or incorporated by reference or any other security instrument at anytime given to secure the Note, and (d) the repayment of all other sums or future advances, with interest thereon, which may heretofore have been or hereafter be advanced by Beneficiary to Trustor or Trustor's successor in interest or title, all of which is hereinafter collectively called the "Indebtedness ", Trustor irrevocably grants and transfers to Trustee, in trust, WITH POWER OF SALE, the following described property : SEE ATTACHED EXHIBIT "A" together with (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter located drereort, (i) ON equipment, machinery and fixtures (including, without limitation, all lighting, heating, ventilating, cooling, air sofW rig and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels, carpeang, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, :ansformars, electrical equipment, storm and screen windows,doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement now of hwm tar located Ntareon, (ii) all easements and rights of way appurtenant thereto, (iv), all leasehold estate, right, title and interest of Trustor in and to sal leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits, advance rental and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject to the r1ght of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as no event of default exists hereunder), (w) all royalties, mineral, oil and gas rights and prolits, water, water rights, and water stock, (vii) all tenements, hereaftements, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion, vokintary or involuntary, of any of the foregoing info cash or liquidated claims (including, without limitation, proceeds of insurance and condemnation awards), all of which is hereatafter coffecttvety calved tine "Trust Property. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. Title. Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property free from any prior #ern or enourrmbrance, Chet this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property, that Trustor, at its expanse, will preserve such title and will maintain this Deed of Trust as a first and paramount lien upon the Trust Property and will forever warrant and defend the validity and priority of this hen hereof against the claims of all persons and parties wix msoevaI Tnisfo, of ds expanse, will cause this Deed of Trust, and each amendment or supplement hereto, to be liked and recorded as a mortgage of the Trust Properly in such manner and in such place and will take such action as in the opinion of Trustee 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 be amended or supplemented from ama to time. Trustor will make such further assurance or assurances to perfect its title to the Trust Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property. 2. Payment of Indebtedness. Trustor she# punctually pay the principal of and interest on the Indebtedness secured hereby. 3 Construction of Improvements. Trustor shoal complete in good and workmanlike manner any buildings, improvements or repairs relating Mnreto which may be begun on the Trust Properly of contemplated by the ban evidenced by the Note secured hereby, to pay when due uO costs and kabilitim incurred therefore, and not to permit any construction lien against such Trust Property. In the event construction of buildings, improvements or repairs are contemplated, Truslor also agrees, anything in this Deed of Trust to the contrary rbNuraltstanding" (a) to promptly commence any such work and to complete the proposed improvements promptly, (b) to complete the sane in accordance with the plans and specifications as approved by Beneficiary, (c) to comply with a# the terms of a building loan N any, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a part hereof, (d) to allbw Benshctary to inspect the Trust Property at all times during construction, and (e) to replace any work or materials unsatisfactory to Beneficiary widen fifteen (15) days after written : aNce from Beneficiary of such fact. 1. Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustor she# pay to Senehriary on the lW day of each month, or such otter daft each mwnMn as may be specified by Beneficiary, until the Indebtedness is paid in full, a sum (hervinaftercal0sidthe "Funds') equal to 1112th of the yearly taxes and assessments which may attain priority over this Deed of Trust and grated raft on the Trust Property, it any, plus 1112th of the yearly premium Installments for hazard insurance, plus 1 i 12th of the yearly premium iriati0nents for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Beneficiary on art basis of assessnients and bles and reasonable estimates thereof. The Funds shall be held in an Institution, the deposits or accounts of which am insured or guaranteed by a federal or state agency including Beneficiary . Beneficiary shall apply the Funds to Pap a" lazes, knatra o premiums and ground rants. Beneficiary shalt not be required to pay Trustor any interest or OWYWW an are Funds, Seneficlary ~ give to Trustor, without charge, an annual accounting of the Funds showing credits and to art Funds and alt purpose for which each debit to the Funds was made. The Funds are pledged as additional security for its kxftbftdnm secured by On Deed of Trust. N Me amount of the Funds held by Beneficiary, together with the future monthly M Funds payable Prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount Mired to pay said taxes, assessments, insurance premiums and ground rents as hey fall due, such excess shall be, of T a opkirl 001her promptly repaid to Trustor or credited to Trustor against future monthly installments of Funds. if the amount of She Funds tad by Beneficiary shair not be suMiclanf to pay taxes, assessments, insurance premiums and ground rents as they fall due, tnww sliall pay to Beneftiary any amount necessary to matte up fie deficiency within thirty days Own the date notice is mailed by to T payment thereal, Upon payment in full of all indebtedness, Benefciary shall promptly refund to TnWw any Funds heMJ by asnaftmiry, N the Trust Property is sold under the power of sale of the Trust Property is otherwise acquired by Berwifidary, Bwwkwy she apply, immedralrely prix to the sale of the Trust Property or its acquisition by Beneficiary, any Funds held by 8000ftwY at the aura of application as a credit against the indebtedness. N Beneficiary executes a written waiver of Trusty "s 060901im under Mks paragraph 4, Trustor, covenants and agrees to pay, btlore the same become derrnriijonf. calf takes. assessments, ci 0