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Deed of Trust
<br />AM gANkc r � 86 105258
<br />THIS DEED OF TRUST rs made this 15_ day of Septetaber , 19 �fi- , by and between Skag Way Discount Dept.
<br />Sroreq, Tnr whether one or more, (hereirialtercatfed the "Trustor'),
<br />whose mailing address is P,O pox 1647 Grand T,1and Xeh-alka fiSgf19
<br />NORWESTBANK Nebraska, (hereinafter called the " Trustee "). whose rnft. address ls
<br />P-D. ME 1768- Orand Tc3nnd_ NR ,andNORWESTBANK Nebraska _. Nntinnal As:SOC13t -fQU (hereinafter'
<br />called the "Beneficiary"i, whose mailing address is n n . 'Rnx 1768,.- Crand TQl and,N�hr=ckn 6M7
<br />WITNESSETH:
<br />IF THIS BOX IS CHECKED ( J THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LiEN ACT AND CREATES.
<br />GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY
<br />DESCRIBED HEREINBELOW
<br />WHEREAS, Trustor is indebted to Beneficiary in the principal sum of M 1cfTT1.TDN AND NO 11 (10 1)D11ARS
<br />Dollars (S - .'Tipp, ODD - (1(1). which indebtedness is evidenced by Trusaor-s promtssory. note dated 9-19 19 'aft , thereirAalber
<br />called the -Note'"), payable to the order of Beneficiary and having a - maw ^*y of �graml�er 15, t -9aFt
<br />NOW THEREFORE. for the purpose of securing:
<br />(a) payment of the Note, together with interest thereon. late cnarbes, prepayment penalties. any future advances. and alt extensions
<br />modifications. substitutions and renewals thereof.
<br />(b) payment of all other sums, tees or charges. together with Fate esr thereon. advanced to protect the security of this Deed of Trust and
<br />Me performance of the covenants and agreements of Trustor. V. er or not set forth herein,
<br />or
<br />(c) performance. discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein
<br />incorporated by reference or any other security instrument art 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 mle.
<br />all of which is hereinafter collectively called the "Indebtedness Trustor irrevocably grants and transfers to Trustee. in trust, WITH POWER
<br />OF SALE. the following described property:
<br />SEE ATTACHED EXHIBIT "A"
<br />together with (l) all buildings, structures. additions, enlargements. modifications, repairs. replacements, and impmvermews now or *?ereaiter
<br />mated thereon, ,it) all equipment. machinery and fixtures tirrclud rig, withou turn lotion al. irgir+rtg, heating, yestilarrng: - ccxi4iag, air
<br />conditioning, sprinkling and plumbing fixtures, water and power systems. engines. porters. ranges. ovens. dishwashers, minim and mantels.
<br />carpeting. furnaces. oil burners, elevators and motors. refrigeration plants or units. communication= systems, dynamos. ttansh>m_eers, etectrit.af
<br />equipment, storm and screen windows. doors. awnings and shades} now or hereafter attached to, or built in, any building or tmprovement
<br />now or hereafter located thereon. (aai) all easements and refits of way appurtenant thereto. fivi. all leasehold estate. tight, tip and interest of
<br />Trruair in and to all leases, whether now or hereafter existing or entered into ;including. wnhour limitation, all cash and security deposits.
<br />advance rentals and deposits or payments of a similar nature;. pertaining theretd. (vt all rents, issues. profits and iricame, therefrom Isuotect,
<br />to the right of Trustor to collect and apply such rents, issues. profits and income as they became due and payable so as no event of
<br />default exists hereunder), (vii all royalties, mineral. oil and gas rights and profits, water. water rights, and water stock: (viii aff teriemen -,
<br />hererlftaments, privileges and appurtenances belonging. used or entoyed in connection therewith, and fv*) our proceeds of onvefsion.
<br />voluntary or involuntary, of any of the foregaing into cash or.liqurdated claims liricluding, without limitation, proceeds of insure ice and
<br />comionnavon awards). all of which is hereinafter collectively called fine "Trust i'roperty..
<br />TO PRnrFCT THE SECURITY OF THIS DEED OF TRUST. TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br />1. Title Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, trial Trustor owns rite Trust Property free
<br />from any prior lien or encumbrance, mar m.,s Deed df Trust is and will remain a valid and enforceable first hen on the Trust Property.
<br />Mat Trustor. at its expense, will preserve such title and will maintain. this Deed of Trust as a first and paramount tier, upon the Trust
<br />Property and will forever warrant and defend the validity and priority of the Gen hereof against the claims of all persons and patties
<br />whomsoever. Trustor. at its expense, will cause this Deed of Trust, and each amendment or supplement hereto. to be Ned and
<br />recorded as a mortgage of the ,Trust Property in such manner and tr such place and will take such action as in Me opinion of Trustee
<br />may oe required by any present or future taw in order to perfect. maintain and protect the lien of this Deed of Trust, as the sane gray
<br />be amended or supplemented from time to time. Trustor will make such further assurance or assurances to perfect its titre 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.
<br />2 Payment of indebtedness. Trustor shall punctually pay the principal of and interest on the indebtedness secured hereby_
<br />3. Construction of Improvements. Trustor shalt complete in good and workmanlike manner any buildings, improvements or repairs relilanq
<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 liabilities incurred therefore, and not to permit any construction lien against such Trust Property. Irr the everrr,
<br />construction of buildings, improvements or repairs are contemplated: Trustor also agrees, anything in this Deed of Trust to Lyre cuntrary
<br />notwithstanding: (a) to promptly commerce any such wort( and to complete the proposed improvements promptly, fb tu complete the
<br />same in accordance with the plans and specihcattons as approved by Beneficiary, ic) to comply with all the terms of a budding roan
<br />agreement, if any, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a pars ner cal,
<br />rd) to allow Beneficiary to inspect me Trust Property at all times during construction, and (e) to replace any worts art materrars
<br />unsatisfactory to Beneficiary within fifteen r15 days after written notice from Beneficiary of such fact.
<br />4. Funds for Payment of Charges. Sub)ect to applicable law or to a written waiver by Beneficiary, Trustor shall pay to Benehr:iary on he
<br />first day of each month. or such other date each month as may be specified by Beneficiary. until the indebtedness is paid in tuil_ a sun,
<br />(hereinafter called the -Funds-) equal to I.12th of the yearly taxes and assessments which may attain priority over. this Deed of Trust
<br />and ground rents an the Trust Property, r any, plus 1 "12th of the yearly premium installments for hazard insurance. Plus ' '2th dl the
<br />yearly premium installments for mortgage insurance, if any, all as reasonably estimated inttialty and from ttrne to time Dy Beneficiary an
<br />the basis of assessments and bills and reasonable estimates thereof. The Funds shalt be held irr, an institution, the deposits or
<br />accounts of which are insured or guaranteed by a federal or state agency including Beneficiary . Beneficiary shall apply vie Funds to
<br />pay said taxes, assessments, insurance premiums and ground rents. Beneficiary shall not be required to pay Trustor any interest or
<br />eamings on the Funds. Beneficiary shaft give to Trustor, without charge, an annual accounting of the Funds showing credits and
<br />debits to the Funds and the purpose for which each debit to the Funds was made The Funds are pledged as aoditronai security for
<br />the Indebtedness secured by this Deed of Trust. N fie amount of the Funds held by Beneficiary, together with the future rntrrithly
<br />installments of Funds payable prior to the due dates of taxes, assessments. insurance premiums and ground rents. Shan exceed the
<br />amount required to pay said taxes. assessments, insurance premiums and ground rents as they fall due, such excess shalt be, at
<br />Trustor 's option, either promptly repaid to Trustor or credited to Trustor against future monthly installments of Finds, rf truce amcuriz at
<br />the Funds held by Beneticiary shall not be sufficient to pay taxes, assessments, insurance premaurns and grcuirrc *enrs as trey Ian, Trustor shall shall pay to Beneficiary any amount necessary to make up the deftriency witnin thirty Jays Iron, the jaw ryovc , 's rriaiwo r = =+
<br />Beneficiary to Trustot requesting payment thereof upon paymenr in tut- art all tndeeredness. Senefiaart, shat pr' -'.M, ;try , ;i:r. r-
<br />rrusrvr arty Fur!ds hc,iq by Beneftciar} if Me= irust Property is sold under tfre power 00 sate, 0= tr,e I= si rECrL y C =:e r : w ac t
<br />try Bemehoary- /36neLtiev -) sh,xii,tzJpr}. irnnisdialely prior m tree sale urine !rust Prcruert} ., ifs zai.y,._s, i i e _, _
<br />RF id t r BG try' f { ;gi ant° ar ehtt „n36 ui appiu,'aluta Ea n � re cla Aga�`1E,t .ne 3dat3tc , x. ., r. � Lf, u:. ^ +T<P4 F—,. e° i nor 41 > a
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