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<br />a 87a_104631
<br />NOTICE: THIS DEED Of TRUST SHALL CONSTITUTE A CONSTRUCTION SECURITY AGREEMENT WITHIN THE MEANING OF
<br />THE NEBRASKA CONSTRUCTION LIEN ACT IN THE EVENT THE AMOUNTS ADVANCED UNDER THE LINE OFCREDITARE USED
<br />To FINANCE IMPROVEMENTS TO THE PROPERTY DESCRIEED iN THIS DEED OF TRUST. Loan No 4317- 0619 - 5200"25$4
<br />DEED OF TRUST
<br />THIS DEED OF TRUST Is ff I a _ r __ da of A__. 19_17 , among the Truster, _
<br />Holl�rd U Wetzel and PhylliS �. Wetze�l_(herain•eorrawee), Joseph H• Badami
<br />_ _ _
<br />_ (herein °Tniates"), and the Beneficiary, FIRST FEDERAL 5AV NI GS & LOAN
<br />ASSOCIATION corporatiorl orRanizsd silo exit g under the lahrrs of . U . S . O F AMERICA , whose address is
<br />OF LI N 13th & N" Street Lincoln Nebraska (hereln "Lendeel.
<br />Borrower, in consideration of the indebtedness herein recited and the trust herein created irrevocably grants and convoys to Trustee, In
<br />trust with power of sits, the following described property located in the County of
<br />State of Nebraska:
<br />Legal Oescript%n:
<br />LOT 4, IMPERIAL VILLAGE 3RD SUBDIVISION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA.
<br />in addition to grant" and conveying to Trustee, in trust, with power of sale, the property described above, we also grant and convey to
<br />Trialee, in trust, with power of safe, the Blowing interests relating to that property. (a) all buildings and other structures located on the
<br />property; (t) all rights we may have in any roods and alleys next to the property or in any minerals, oil and gas rights and profits, water, water
<br />rights, and water stock which are a part of the property; (c) all rents and royalties from the property and any proceeds from the condemnation
<br />of, or insurance payments concerning losses to, the property, and (d) all fixtures now on the property or later placed on the property, including
<br />risplacements d, and additions to, thossfixtures. Ourgrani and conveyance to Trustee of the rightsand interests described above includesall
<br />sights and interests which we now have or which we may acquire in the future.
<br />OBLIGATIONS BEING SECURED
<br />W�ba this Deed of Trust to secure (a) the payment to First Federal Lincoln of a revolving line of credit debt in the amount of
<br />U.S- // a --or so much of that debt as maybe outstanding, plus all accrued interest, fees and other charges owed under the
<br />First Fotrdem! Lincoln Smart Equity Agreement (the "Agreement") relating to this Deed of Trust and dated the same date as this Deed of Trust;
<br />(M the payment of any amounts advanced by Fast federal Lincoln to protect the security of this Deed of Trust, with interest on those amounts;
<br />(0 the performance by the persons who signed the Agreement of their obligations under the Agreement; and (d) our performance of our
<br />obilgatiom tinder this Deed of Trust. This Deed of Trust secures all future advances made under the Agreement and advances which have
<br />been repaid rMy be reborrowed provided that the maximum aggregate amount of advances to be secured at any one time by this Deed of
<br />Trust WW not exceed the amount of the revolving line of credit debt set forth above. The Agreement and this Deed of Trust, taken together,
<br />are taped the "Credit Documents".
<br />REPRESENTATIONS AND OBLIGATIONS CONCERNING THE PROPERTY
<br />We promise that: is) we awfully own the Property; (b) we have the right 10 grant and convey the Property to Trustee; and (c) there are no
<br />V
<br />outeand caimsorchargesagainstthePropertyotherthanifarecordedmortgage, deedoftrustorothersecurityagreementconstitutinga
<br />;
<br />fall ken position..
<br />We agree in Iha avant more than one recorded mortgage, deed of trust or other security agreement is recorded, the property will not be
<br />considered efigible for wring the First Federal Smart Equity Account or agreement unless the recorded mortgage, deed of trust or other
<br />Security agreement see recorded by and are in favor of First Federal Lincoln in consecutive order and have been recorded in connection with
<br />other secured debt to First Federal Lawn
<br />We give a general warranty of title to First federal Lincoln. This means that we will be fully responsible for any losses which First Federal
<br />Lincoln suffers because someone other then us has some of the rights in the Property which we promise that we have. We promise that we will
<br />defend our ownership of the Property against any claims of such rights. "
<br />We further promise that we will neither take nor permit any action to partition or subdivide all or part of the Property, or change in any way
<br />Me cor0tion of title to all or part of the Property.
<br />PROVISIONS OF THE AGREEMENT
<br />We understand that the Agreement calls for a variable interest rate, and that Fast Federal Lincoln may, prior to the end of the term of the
<br />AgreemsM and under certain cacumstences spectfied in the Agreement, cancel future advances, and/or require repayment of the
<br />.M
<br />outstanding ,tinder this Agreement.'
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<br />PROMISES AND AGREEMENTS
<br />We agree with First Federal Lincoln as follows:
<br />1. PAYMENTOF PRINCIPAL AND INTEREST. Except as limited by paragraph 9 of this Deed of Trust, we shall promptly pay when required
<br />by the Agreement. the principal and interest due under the Agreement, together with any other charges imposed under the Agreement.
<br />2. PRIOR MORTGAGES AND DEEDS OF TRUST: CHANGES: LIENS. We shall fully and timely perform all of our obligations under any
<br />rnortign9c treed of trust or other security agreement which is prior to this Deed of Trust, including our obligations to make any payments when
<br />due.
<br />WO shall pay or cause to be path at least tan (1 Q) calendar days before delinquency, ali taxes. assessments and other charges• fines and
<br />Impositiom relating to the Property and all encumbrances, charges, loans, and liens (other than any prior mortgage or deed of trust) on the
<br />Property which may become prior to this Deed of Trust and leasehold payments or ground rents, if any. We shall deliver to First Federal
<br />Lincoln, upon its request, receipts enhancing such payment If, at the time first Federal Lincoln elects to terminate the line of credit secured
<br />by this Dead of Trust (the "Account") as provided in paragraph 16 below, there is an assessment which is payable in installments at our
<br />lon or at the electron of the lessee of the Property, that assessment will nevertheless be considered entirety due and payable on the day
<br />the first instalinterilt becomes due or payable on lien.
<br />3. HAZARD INSURANCE. We shall, at our cost keep the improvements now existing or later erected on the Property insured against loss
<br />by Ile, by hazards included within the term "extended Coverage", and by such other hazards (coltectively referred to as "Hazards") as First
<br />Federal Lincoln nosy require We shall maintain Hazard insurance for the entire term of the Agreement, or as long as First Federal Lincoln may
<br />requim in an amount equal to the lessifir of (a) the maximum insurable value of the property or (f) the amount of the Account plus the
<br />outstanding affiount at any obligation pry to this Deed of Trust, but in no event shall such amounts to less than the amount necessary to
<br />satisfy MN coinsurance requirement contalnad in the insurance poacy.
<br />We nM choose the insurance company subject to approval by First Federal Lincoln; provided, that such approval may not be
<br />unreasonably All Ineumom pohcmm inching renewals, must be in a form acceptable to First Federal Lincoln and must include a
<br />Standen! mortgages clause in favor of and in a farm acceptable to First Federal Lincoln. First Federal Lincoln shall have the right to hold the
<br />tothe termsof any mortgage. deed of trust or other security agreement which is prior to this Deed of Trust. 11 we
<br />pay here premiums directly, we sths#i promptly furnish to Fast Federal Lincoln all renewal notices and, if requested by First federal Lincoln, ail
<br />receipts of paid premiums, M policies and renewals are held by any other persons, we shall supply copies of them to First Federal Lincoln
<br />willilitin ten (t% calendar days after they are issued.
<br />latheaveM oflosti, w0 glue prompt notice to the insurance company and First Federal Lincoln. First Federal Lincoln may make proof
<br />of kies N nit irnaft promptly by us.
<br />Sulgect to the rightsand terms of anymortgarpe, deed of trust or other security agreement which is prior to this Deed of Trust, the amounts
<br />collecM by us or First Federal Lincoln under any Hazard insurance policy may, at First federal Lincoln's sole discretion, either be applied to
<br />Mae owns secured by Mha Deed of Trust (attar payment of all reasonable costs, expenses and attorneys fees necessarily paid or incurred by
<br />F)rM F Lincoln and us kn this c nnec" and in whatever order First Federal Lincoln may determine or be released to us for use in
<br />iP . the Fast Federal Lincoln has the authority to do any of the above. Regardless of any appicatron or
<br />FlN Federal LiAnoollin, as described . this shati not cure or waive any default or notice of default under this Deed of Trust or
<br />Invalidate any KI done, pursuard to such notice.
<br />R by tis, or it we tail to respond to First Federal Lincoln in writing within thirty (3O) calendaf days from the,late
<br />Mfto is given to usby First Federal LlnoDin that the fturance company offers to settle a claim for insurance benefits, F irst Federal L in-coin
<br />OWN hem the 4 to seffle the cawn and to wNed and apply the insurance proceeds at First Federal Lincoln's sole option either to
<br />or of the Ptopedy fx to this sums secured by this Deed of Trust,
<br />If try First federal Lincoln. sill of our right, title and interest in and to any insurance proceeds resulting tromaar !age
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<br />to the PrOWIV POW to p become the properly of Fast Federal Lincoln to the extent of the sums securers by this need of
<br />T t9 such acquisitiort
<br />a. PlIESERVATION11 AND MAINTENANCE Of PROPERTY, LEA HOLDS: C.ONDOMINWMS: PLANNED UNil DEVELOPMENTS We
<br />(N the incomphanceatith ak .able taws almutes, c�sr6i "s�� e .: rdary • gwren,e,iNJecrees w
<br />k ,(Is keep Wm Property An good condition am rep ow inciudrrsg tile 101mir riA rest maton Crl 9y hl {}t VfiPn H...i lSa fFIM I- C.l)�Ittl 4Y lr ;:;t
<br />,r bs divin"ealwdestfirrited and awl peywf ndue ails', iaimsftert:.at �i
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