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CCEF CC ERCIAL VARIABLE INTEREST r TE
<br />(SERIES 1985 -1) ;
<br />LDEED OF TRUST 85, 002349
<br />THIS DEED 1 April '9 85nd slCITY CHRISTIAN CHURCH, a NebrasTRUST. aorporation 2808O'FlannaganGraIand,Nebraska68 OI
<br />as Trustor• FIRST AMERICAN TITLE INSURANCE COMPANY, Suite 700, Grain Exchange
<br />Building, 1905 Harney Street, Omaha, Nebraska 68102;
<br />asTrustee.and THE CHRISTIAN CHURCH EXTENSION FOUNDATION, a Colorado nonprofit
<br />corporation, Post Office Box 27467, Denver, Colorado 80227,
<br />as Beneficiary:
<br />VMNESSETH:
<br />That Trustor irrevocably grants, translate end ensigns to Trustee In trust. with power of sale, the following described
<br />property:
<br />Lot Twelve (12) and that portion of Lot Eleven (11) described as follows:
<br />Beginning at the SE corner of said Lot 11, thence west along the South line of said Lut 11,
<br />80.0 feet to a point on the Easterly right- of-way line of U.S. Highway No. 281, thence
<br />Northeasterly along said right -of -way, 250.48 feet to a point on the North line of said
<br />Lot 11, thence Southeasterly along said North line, 20.0 feet to the NE corner of said
<br />int 11, thence South along the East line of said Lot 11, 240.20 feet to the point of
<br />beginning.
<br />All in Block One (1), in Dickey Subdivision, an addition to the City of Gram island,Hal1 Coufriy
<br />Nebraska;
<br />also known as 2808 O'Flannagan, Grand Island, Nebraska 68601.
<br />together with ON Interest which Trustor now has or may hereafter acquire it and to said property and in and to: Is) ail easements end rights of way op.
<br />purtenant thereto: and Ib) all buildings, sit UCtwes. improvements, fixtures, equipment, furnishings and appwtonances now or hereafter placed
<br />the, eon Trustor agrees to execute and deliver, from time 10 time, such further Instruments 06 may be requested by Beneficisy to confirm the lien of
<br />this Deed of Trust on any of the aforementioned property. The property so conveyed hereunder is hereinafter referred to as "such property",
<br />The Trustor absolutely and irrevocably grants, transfers and assigns to Beneficiary the rents, income. Issues, and profits of elf property covered by
<br />this Deed of Trust.
<br />FOR THE PURPOSE OF SECURING:
<br />A. Payment or the principal sum of CM HLJNDRED FIT'= 'IIpUSAND AND Noll 00 ($115,000.00) DOLLARS
<br />evidenced by that Certain prominory note dated of even date herewith (hereinafter retained to 09 the "Promissory Note ") issued by Trustor in said
<br />amount and payable to the order of Beneficiary, together with interest thereon, iota charges stud prepayment bonuses according to the farms of the
<br />PrOmltsoay Not& and all renewals, extensions and modifications thereof.
<br />B. performance, d,schatge of and compliance with every obligation, covenant and agreement of Trustor incorporated by reference or Contained
<br />herein or rte any other security agreement or deed of trust at any time given to secure any indebtedness hereby secured, or any part thereof.
<br />C. Payment of all fees and charges of Beneficiary. whether or not set forth herein.
<br />TO PROTECT THE SECURITY Of THIS DEED Of TRUST, TRUSTOR COVENANT$:
<br />1. Title; That It is lawfully seined and possessed of s good and indefeasible title and estate to such property in fee simple and will forever warrant and
<br />defend ins hale thereto against the claims and demands of an persons whosoever; that it wilt, at its expense, maintain and praserve the lion of this
<br />Deed of Trust as a (list and paramount lien upon such property.
<br />2. Meitfenartae: To keap such cranially in good condition and repair-, to complete Of restore promptly and M
<br />hurtdmcl which may be COnsuucted, damaged at destroyed thereon end to pay, when due, ON Claitts for labor Performed d and materials manner
<br />ijinaished
<br />the+atar and lot any SlImalrons thereof, to comply with the provisions of reslrictians affecting such proparty; not to remove, demolish or materially
<br />'titer any budrlinp, of the chataClet or use thereof at any time thereon; not 10 drift Or extract not to Patriot the drilling for or exltection of oil, gee or
<br />What hydrocastaon substances or any mineral of any kind unless the written consent of Beneficiary, is first had and obtained: not to commit or permit
<br />arbv waste thereof of any Oct ti00n Mitch property in violation of law; 10 do all Other acts in a tamely and proper mennor which from the character or use
<br />r.?l such prapetty may be reasonably necessary to protect and preserve said security, the specific enumerations herein not avctudmg the general.
<br />3. Construction of Imptoyemenlr To complete in good and workmanlike manner any building or improvement Or repair relating thereto which may
<br />?! begun On such prnp0rty or Contemplated by the loan secured hereby, to oar when due all costs and klbnhties incurred therefor, and not to permit
<br />any Construction ke- against such property Tru%fof also agreac anything in this Deed of Trust to the Conlrery notwithstanding: lot to promptly Cam.
<br />-e,,Ce work and 10 [complete the proposed improvements prOmptty, (b) 10 COmp1810 same in acCofdanee with plane and specifications as approved by
<br />fl—pf' eery, If) 10 "amply with as Of laid forms of any construction loansgreement between Trustor and Beneficiary, till to allow Ienelleiary to Inspect
<br />"Itch flrnperty al ;aid t -0.9 durm0 Can Slr ire hen, and let to replace any work ar - 810,1018 unsatisfactory to Beneficiary, within fifteen t 1 5) day% alter
<br />wntt9hn tenure from Beneficiary of such fact, which notice may be given to Trustor by registered or certified mail, sent to him fast known address, of
<br />by pdrso"Ol Service of the same"
<br />4. Fie and Casuafty insurance: To keep such property Insured against toes of damage by fire and other risk or risks which, In the entnton of
<br />BersefM;oa <y sftnutd be , nsured against, under ptlh"s Of Irlsufanco with 11059 payable to Beneficiary in form, amount and compan+ss acceplahle to
<br />f)xsrsefn:,ary. as +d pof"Cfst shad be d991verdd to and 10rnean in possession of Beneficiary as fuffhvr Security for lha falihlljl parlor in an Ce of t,eSo atH,()A"
<br />whxh detivety shall COn %til,tto 0. e9sfgnmem by TfUSIOf to BanO(lC,ary to as rights thereunder, 111clud.ng aN return premium9; to t)Riival to
<br />ttRneltq.lafy a faefACY Or p(ncVes ranawing 01 0x10"", env espihng Pestilence with a receipt showing premiums paid at least thirtyi30) days betnrR 0.
<br />if Fr.1 %1 ear amts to stir deliver Any rOnewAt PO4rles. Iensficialy may procure Such Insurance as it may RIOCI and nnAv make payment art
<br />Wemnrms therahn. wh✓h peyrndnf is r,P8V0We on drimend. Neither Trustee nor flanakeefv Shall Gs le5pon5rbie for nbta,ning Or faint aining snr'h in
<br />qtasanclf Ra nefrCimy 4 In t"id in t -e, rnav " "'I'sh to any insurance agency Or Company, or any other parson, any Info—Alion Cnni A.nef) in Or 0x
<br />aetAd from any mStra a i;O'tCy fh Prptofgfe 0011v0,ed to Bene (lCiary pu,suam hafelo, and any infafmolrOn CO"ff,n,.ng this loan Sec uiad h0,0t y are nn ,.
<br />'a'. @rrnR .Wti.f$ wi+,@Inef f1 MM31 nine AtEit / e ,ma1PI hAa nf, f: Ur,gd shall Benellclal V. by the tact of approving, acceptlnq or abf A.fl-q Stich'nstiranr'r. n, a,, Any III
<br />aft sty fare Ike Anttau t frl Sib!_. t,'nswanco the farm err (Pgal ItufficlenCy of Inst"Once eomraets. Solvency of in %llf ter 9, I'? vt I t9 %P9 I<y I
<br />4 > Wry A-Plir it.weili1q, aaslintes full r05t#?flsrbr)rty th"'ofol and l,abddv. .f any. thereundes . fn the event sal In95 uv Still! O,vA m,ned�Ale
<br />a4e a a e t t 01"e" a y aid 90n01 ma +v allay, hol is not ob6goted tar. make $),not of loss if oral marts t rte 1 .
<br />ve r r0 r f,,w 4P q 'e tn✓ary S.I e9 teal' p Olytvistiit I assn ill any i +891610
<br />La fin Stab t •nplarly play, al the option of the Benohoflty . a eopl R 1 hu (IPnRIt •Ary � Ilnn ,non. ,. !
<br />a H =a f s .. r lea �, 4+ Ad ,•.ere Pry and in 9, J, n. der Rod 8r.i orrnt At Bonatiost -0 11
<br />� nsi' ••.e 1 � rt `a'Y K tr -Per 1� t t 1'I IA4!rlrr +� 1� Y y I 0, R rr'illlq. rr qa '1 an" l It (+r Alit, pnllran 16Pl Po,rl .it,9n
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<br />q +lRgd r rP )ad!'ina 1 1 q ern tlrr 19 t`arl A Y `r Irtl Rily 'ta Sling r!I fir A r rn•t ! . 9a1i91 ar tar=
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