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a
<br />Deed of Trust
<br />BANKS gg_ 104834
<br />THIS DEED OF TRUST is made this 29th day of August 79 86 , by and between Douglas J. Smith
<br />and 1� *hryn Smith (j stand fi Wife) whether one or more, (hereinafter called the "TrusWu ),';
<br />whose mailing address is 29 Parker . Omaha,TNe�rHska 6$114
<br />f�ORWES7BANK Nebraska N sociatian (haeinaI%c$ifed�fte Trusie � �vhose mailing addresa l
<br />1919 Douglas Street, , dNpRWESTBANas.a, National Assoc Iron (hereinafter
<br />called the "Beneficiary'), whose mailing address is 1919 Douglas Street, C na a, Nebraska
<br />WITNESSETH:
<br />IF THIS BOX iS CHECKED j J THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES,
<br />n y GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST iN THE PROPERTY
<br />t ' , DESCRIBED HEREINBELOW.
<br />WHEREAS, Trustor is indebted to Beneficiary in the principal sum of *Twenty Thousand and 00/100
<br />:.) Dollars ($ 20.000.00 ),which indebtedness is evidenced by Trustor s promissory note dated 19MLst . Z9 ;19 8 . (hereinafter
<br />Called the "Note`), payable to the order of Beneficiary and having a maturity of August 24 1991
<br />NOW, THEREFORE, for the purpose of securing:
<br />r (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, fees or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and
<br />` the performance of the covenants and agreements of Trustor, whether or not set forth herein;
<br />(c) performance, 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 all other sums or future advances, with. interest thereon. 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 collectively called the indebtedness Trustor rrrevocabiy grants and transfers rfl Trustee, in trust, WITH POWER
<br />OF SALE, the following described property:
<br />SEE EXHIBIT "A" HERETO ATTACHED
<br />together with (i) all buildings, structures. additions. enlargements, modifications. repairs, replacements, and tmprovemems now or hereafter
<br />located thereon, (fi) all equipment, machinery and fixtures !including, without limitation, all fighting, heating, ventilating, cookng, air
<br />_ conditioning, sponAlr'ng and plumbing fixtures. water and power systems, engines, boilers, ranges. ovens, dishwashers mirrors and mantels;
<br />^arpetmg, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems. dynamos, transformers, eiectric:at
<br />equipment, storm and screen windows,doors, awnings and shades) now or hereafter attached to, or built in, any building or impmverroer# ,
<br />now or hereafter located thereon, (iii) all easements and rights of way appurtenant thereto, fry). ail leasehold estate, right, title and mrerestcO
<br />Trustor in and to ail leases, whether now or hereafter existing or entered into tirsctudmg, without Imitation an cash and security deposits.
<br />advance rentals and deposits or payments of a similar natural, pertaining nerem, (y) all rents, issues. profits and income therefrom (strbfect
<br />to;'* right of Trustor to colfect and apply such rents, issues. profits and income as they become due and payable so long as no event of
<br />default exists hereunder), tvit all royatnes. mineral, oil and gas rights and profits, water, water rights, and water stink, (vg) all tenerrients,
<br />hereditaments, pr vtiages and appurtenances belonging, used or enroyed m connection therewith. and (vii) aft proceeds of ednversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including, without limitation, proceeds of insurance and
<br />nrianon awards „, all of which is hereinafter collectively called the "Trust Property
<br />TO,PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS'
<br />t. Title. Trustor covenants, warrants anc agrees with Beneficiary. its successors and assigns, that Trustor owns the Trust Property free
<br />tram any prior hen or encumbrance, 'hat this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property,
<br />that Trustor, at its expense, will preserve such title and wig maintain fhus Deed of Trust as a first and paramount hen upon the Trust
<br />Property and will forever warrant and defend the validity and pnonfy of the lien hereof against the claims of all persons and parties
<br />whomsoever Trustor, at ns expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be fried and
<br />recorded as a mortgage of the Trust Property in such manner and iii such place and will take such action as in the apiruorr of .Trustee
<br />may be required by any present or future law m order to perfect maintain and protect the hen of this Deed of Trust, as the same may
<br />be amended or supplemented from time to time. Trustor wdI make such further assurance or assurances to Perfect its We to me Trust
<br />Property as may be required by Beneficiary rrustor riereoy relinquishes all right of dower and homestead in aced to the Trust Properly,
<br />2. Payment of Indebtedness. Trustor shall punctually pay the pancipai of and !merest on the Indebtedness secured hereby
<br />... 3. Construction of lmprovemrrrts. Trustor snag complete in good and workmanlike manner any bu: /tires, tmproverreents or repass 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 ail costs and liabilities incurred therefore, and not to permit art, y =construction lien against such Trust Property fn the event
<br />construction of buildings improvements or repairs are contemotaled. Trustor also agrees. anything in this treed of Trust to the contrary
<br />r otwrthstanding; fall to promptly commence any such won, a. s it, ctoompiete the proposed improvements prcmtstiq. ;b,. to COMP,” the
<br />same in accordance wrth the plans and specifications as approved by Beneficiary, icy to ,comply with all the terms of a budding loan .
<br />agreement, if any, between Trustor and Beneficiary, the terms of which are incorporated hervih by reference and made a part hereof,
<br />J) to allow Beneficiary to inspect the Trust Property at ail times during constructor, and ie' to replace any won* or materials
<br />unsatisfactory to Beneficiary wilhun fifteen i f 51 days after written notice frcurr Benehciary of such fact
<br />4._ Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustor shall pay V B�rLary on it*
<br />first day of each mouth, nr such other date each month a, may be spas -ibec by _Banat r ry ,�r.t i inn J_ �inror —er,�- .z ova 4x r,al, a
<br />inweinafter called the - Funds r equal to t- 12117 of the yearly taxes and assessments whirr; may attain pnooryover ins {seed of Trust
<br />and ground rents on the Trust Property, it any, plus f 12tH of free yearly premium installments for hazard insurance_ pfus 1 12th of the
<br />yearly premium installments for mortgage insurance, if arty, all as reasonably estimated ininafty and from time in time by Beneficiary out
<br />the basis of assessments and trills and reasonable estimates thereat The Funds shall be two in an institution. row deposits or
<br />accounts of which are insured or guaranteed by a federal or state agency including Beneficiary Beneficiary shalt apply me Funds to
<br />pay said taxes, assessments, insurance premiums and ground rents. Berrohnary shaft nor be required rL pay Trustor ifoy srrterest or
<br />earnings an the Funds Beneficiary shall give to Trustor, without charge, art annual accounting of the Funds showrnq credits and
<br />debits to the Funds and the purpose for which each debut to the Funds was made The Funds are piedgeo as aaaftronai.' security for
<br />Me Indebtedness secured by this Deed of Trust ft tun amount of the Funds herd by Beneliriary. together with the future rrioninly .
<br />installments of Funds payable prior to the due dates of taxes, assessments. insurance Werrriums and ground rents, Shait exceed the
<br />amount required to pay card taxes, assessments, insurance premiums and ground rants as they tail clue . such a +sass shalt bit", at
<br />_ Trustor s option ether promptly reAald to Trustor Or credited to Trustor against future mo_ iniv :nstailmitnts .i• Funds ii the amount at
<br />era i uncis field by Beneficiary shN,i not be sufficient to t >ay taxes assessn errs, riser; ance or'eriturris a„o grrxino rams as t.^,ei fair due
<br />1,-aiirrx v)ov pav in BHnehCrasy any grnlurt nv'r:;essary to make Ur :he "* 4fnitr nr v wilrirr. rn+rty dais f!n ri trf+ ,tare lior e ;s -' 8;:0 I by
<br />firanehoiiry rte l r6i StF," rarfYAL+Ldrnr� pool yrr +vnr thheeeof ;Jpor tiaymenr etri r','z.?}ebtec!'"�tr -'.:,5 Herter oa S. -ate R!mpisy lek r- "1 to
<br />T ,4T1r?,t a"y i .,iii °7, nvo P, i+wW1 0a1r) ft ftw Trust l'r =3jtf+rfy i.; Nilid 1^1(n .'f +4? rr, ++h-*.+€ * �:i� ,'` 4t'r4' ,f i3 ^� tt`ir'l :4 �a:.'"P'4ti -,:.v
<br />r'i tlFtr *Ht 'i�3r'r aet 0f:r qq `ha# dppi} .rnrr +�rC1?arr}ry prior To fire ;ale (ii fo•e ,r, P-nit l' , ,N = ,1, 4. =i3s , i
<br />e 7 !ry if -,eter w) tl rate rrnii: (If Jppo1 ;3hcir! tti a C- red4l.igw1st rite yfE[ i .7 r i? „. :.i' :a' a », » , » # r -.' „c,. -' S
<br />p - .nil ti iuiae, ,Ire ••_,, r >4rx ralrr d I,uiti7r i r, +.6ite�ril, =. arzq .,.1(JrNNN try par !'Wn t f", & ,e flN : 117111
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