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Deed of Trust XVIS 86. 101973 THiS DEED OF TRUST is made this _24__._- day of .1an,eary ___ , 19 86L , by and between Lea_M.._E:v.ans_and._.Sh i r1 ey .. � ___._.._ -_ —_ -_ whether one or more, (hereinafter called the "Trustor "), whose marling address is - -.- NORWEST BANK -&b , Njationa A"QCiA ion _��— _ (hereinafter called the "Trustee"), whose mailing address is P.0« eO�c- 3Z5$,.- AE___, and NORWESTBANK Nebxzka• cy�tjQnr31_AsGO a on (hereinafter called the "Beneficiary"). whose mailing address is -P,0.- Eox 7 7bR_.Granrl T si and __ -jF__l 8g02__ WITNESSETH: IF THIS BOX IS CHECKED ( J THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY AGREEVENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES, GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY DESCRIBED HEREINBELOW WHEREAS. Trustor is indebted to Beneficiary in the principal sum of .TE IL -THQUSAN _ANll)- 14011.SLQ_ ------ - ----- Dollars (S 10, 000.00 ),which indebtedness is evidenced by Trustor's promissory note datedJanuary 24 • 19 _-K, (hereinafter called the "Note "), payable to the order of Beneficiary and having a maturity of ir_ � 1 Y_23, _1986 . NOW, THEREFORE, for the purpose of securing: (a) payment of the Note. together with interest thereon, late charges, prepayment penalties, any future advances. and all extensions, modifications, substitutions and renewals thereof. (b) payment of all other sums, fees 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, alf 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: LOT TEN (10), IN BLOCK TWO (2), IN CAPITAL HEIGHTS THIRD SUBDIVISION, BEING A PART OF THE SOUTHWEST QUARTER (SW%) OF SECTION TWO (2), TOWNSHIP ELEVEN (11) NORTH, RANGE TEN (10), WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA together with (i) all buildings, structures. additions, enlargements, modifications, repairs. replacements. and improvements now or hereafter located thereon. (if) all equipment. machinery and fixtures (including. without limitation, all fighting, heating, ventilating, cooling, air conditioning, sprinkling and plumbing fixtures, water and power systems, engines, toilers, ranges, ovens, dishwashers, mirrors and mantels, carpeting, furnaces, oil burners. elevators and motors, refrigeration plants or units, communication systems. dynamos, transformers, electrical equipment, storm and screen windows.doors. awnings and shades) now or hereafter attached to, or built in. any building or improvement now or hereafter located thereon, (iii) all easements and rights of way appurtenant thereto, iiv), all teasehoid estate, right, title and interest of Trustor in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits, advance rentals and deposits or payments of a .similar nature). pertaining thereto, (v) all rents. issues, profits and income therefrom (subject to the fight 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), (vi) all royalties, mineral, oil and gas rights and profits, water. water rights, and water stock, (vii) all tenements, hereditaments, privileges and appurtenances belonging. used or enloyed in connection therewith, and (vat) all proceeds of conversion, voluntary or involun!ary, of any of the foregoing into cash or liquidated claims iincluding, without limitation.. oroceeds of insurance and condemnation awards). all of which is hereinafter collectively called the '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 lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property, that Trustor, at its expense, 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 the hen hereof against the claims of all persons and parties whomsoever. Trustor, at its expense, will cause this Deed of Trust. and each amendment or supplement hereto, to be filed and recorded as a mortgage of the Trust Property to such mangier 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 time 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 tight of dower and homestead to and to the Trust Property. 2. Payment of Indebtedness. Trustor shall punctually pay the principal of and interest on the indebtedness secured hereby. 3. Construction of Improvements. Trustor shali complete in good and workmanlike manner any buildings, improvements or repairs relating thereto which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby. to pay when due all costs and liabilities incurred therefore, and not to permit any construction tier) against such Trust Property. In the event construction of buildings, improvements or repairs are contemplated, Trustor also agrees. anything in this Deed of Trust to the contrary notwithstanding; (a) to promptly commence any such work and to complete the proposed improvements promptly, (b) to complete the same in accordance with the plans and specifications as approved by Beneficiary, (cl to comply with all the terms of a building loan agreement, it any, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a part hereof. (d) to allow Beneficiary to inspect the Trust Property at all nines during construction. and %e) to replace any work or materials unsatisfactory to Beneficiary within fifteen (15.) days after written notice from Beneficiary of such fact. 4. Funds for Payment of Charges. Subject ro applicable law or to a written waiver by Benenclary, Trustor shall pay to Beneficiary on the first day of each month, or such other date each month as may be specified by Beneficiary. until the Indebtedness :s paid in full, a sure (hereinafter called the "Funds') equal to 1 12th of the yearly taxes and assessments which may attain pnonty over this Deed of Trust and ground rents on the Trust Property, if any, plus I 12th of the yearly premium mstallments for ha: and insurance. plus 1 12th of the yearly pranxum installments for mortgage insurance, if any, all as reasonably estimated initiaity and from rime to time by Beneficiary of) Me basis of assessments and bilis and reasonable estimates thereof. The Funds shall be held ut an insrirutron, the deposits or accounts of which are insured or guaranteed by a federal or state agency including Benehciary. Renofic:ary snail apply the Fund, to pay said taxes, assessments, insurance premiums and ground rents. Beneficiary' Shall riot be required to pay 1)usto.• any tnfeie>st or earnings on the Funds. Beneficiary snail give to Trustor. without charge. an annual accounrmq of the Funds shcmmy ciectits and debits to the Funds and the purpose for which each debit to the Funds was rna('e The Furies are wedged as ,additional security tar the Indebtedness secured by this Dved of Trust. if the amount of the Funds held by Benerrc: a y Wgerhe, cti th the rul r e e n my rnstalirriw4s of Funds payable pair fo the due dates cl taxes. asse.ssrnenty nsuran a h,errr un i ui 4 tent haii e x to d !ht, amount refluirml to Oay said faxes (la ^SBSSIn @f %fy rnSuranCe pre ni rn7s and groulno ten S its r )e vi (rite r 6 ss , .h l3 k. at Trustor s opgon. either prornpriv ?e eud iv Trustor w of Kmed to Trii.stot ajdirtc• futi re nonthi r tht _6 Funds hold by $er;tirrr.i3ry shah m4 he suf icient to f,ay tows a se_sstru ni 'su air Cr, i i r i i c l .e s d� e, r.'i:r,n+ € frustw srli'tla pray tri tier fi( iary airy 4nit;well ne.'H.r'4HrY Ili MdAe u, htr ;te ! t ,?n� ry �4 ,iL, . -nit, fJi.; - -. _ i- ;,•,i!c ,., i' ,tr e i, cry I tier el ,airy f� T r,rof +;r r ii g!tny pe,ly' +rtertt tfie.ru.:f Urriiri i�ayrrw rt .r: r „i! iivvietrc,sr, !g rrc, ,_! r' perry;.. , _ri:Nrr e r_sr .� .. . , _ _ „ot e i•-r,,.:... 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