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BANKS
<br />$5- 004423 Deed of Trust
<br />THIS DEED OF TRUST is made this 11th day of September 1985 , by and between Ronald R. LewandowSki
<br />Wife — whether one or more, (hereinafter called the "Trusts "),
<br />whose mailing address is reet- Gran
<br />NORWEST BANK (hereinafter called the "Trustee "), whose malting address is
<br />P_Q_fleY 17fik_ Grand Island, NF d_NORWESTBANK p(hereinafter
<br />called the "Beneficiary"), whose mailing address is . O.Box 1768,. Gran I S an � Ne T aS
<br />WITNESSETH:
<br />iF THIS BOX 1S CHECKED C ) 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 ind bled to Beneficiary in the principal sum of Thirteen Thnusand and no11(t(1-----------------
<br />Dollars (S 13,000.0 which indebtedness is evidenced by Trustor's promissory note datedSEpbl,r 11 19 15_ , (hereinafter
<br />called the "Note "), payable to the order of Beneficiary and having a maturity of . (lc -oiler 1 _ 1 UQ5
<br />NOW, THEREFORE, for the purpose of securing:
<br />(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 Truster's successor in interest or title,
<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 />Lot One (1), in Bob Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />together with (f) all buildings, structures, additions. enlargements, modifications, repairs, replacements, and improvements now or hereafter
<br />located thereon, (I)) all equipment, machinery and fixtures (including, without limitation, all fighting, heating, ventilating, cooling, air
<br />conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boi :ors, ranges, ovens, dishwashers, mirrors and mantels,
<br />carpeting, furnaces. oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical
<br />equipment, storm and screen windows, doors, awnings and shades) now or hereafter attached to. or built in, any building or improvement
<br />now or hereafter located thereon, (iii) all easements and rights of way appurtenant thereto, (iv), ail leasehold estate, right, title and interest of
<br />Truster in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits,
<br />advance rentals and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject
<br />to the right of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as no event of
<br />dotal off exists hereunder), (vi) all royalties, mineral, oil and gas rights and pro fits, water, water rights, and water stock, ( vii) all tenements,
<br />hereditaments, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion,
<br />voluntary or involuntary, of any of file foregoing into cash or liquidated claims (including, without limitation, proceeds of insurance and
<br />condemnation awards), all of which is hereinafter collectively called the "Trust Property ".
<br />'
<br />TO PROTECT 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, that Trustor owns the Trust Property free
<br />-- �_..::
<br />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,
<br />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
<br />Property and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties
<br />whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and
<br />recorded as a mortgage of file Trust Property in such rnannor and of such place and will take such action as in the opinion of Trustee
<br />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
<br />be amended or supplemented from time to Limo. Trustor will make such further assurance or assurances to perfect its title 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 punctuaCy pay the principal of arid interest nn the Indebtedness secured hereby.
<br />3. Construction of Improvements. Trustor shall complete in good arid workmanlike manner any buildings, uprovements or repairs relating
<br />thereto which may be begun on the Trust Property or contemplated by rho loan evidenced by the Note secured hereby, to pay when
<br />due all costs and liabilities incurred therefore, and riot to porntlt any construction lien against such Trust Property. In the event
<br />construction of buildings. improvements or repairs are contemplated, Trustor also agrees, anything in this Deed of Trust to the Contrary
<br />notwithstanding: (a) to promptly commence any such work and to complete the proposed improvements promptly, (h) to complete the
<br />same in accordance with the plans and specifications as approved by Benefictary, (c) to comply with all the terms of a building loan
<br />agreement, if any, between Truster and Beneficiary, the forms of which are incorporated herein by reference and made a part hereof,
<br />(d) to allow Beneficiary to inspect the Trust Property at all times during construction, and (a) to replace any work or materials
<br />unsatisfactory to Beneficiary wrlhin fifteen (15.) days after written notice from Beneficiary of such filct
<br />4. Funds for Payment of Charges, Subject to applicable law or to a written waiver by Beneficiary. Trustor shall pay to Beneh,7iary on the
<br />first day of each month, or such other date each month as may be specified by Peneficiary, until rho Indebtedness is paid in full, a sun,
<br />(hereinafter called the "Funds ") equal to l i 12th of the yeady razes and assessmmnts which rnrly attain priority over this Deed of Trust
<br />and ground rents on the Trust Pnfporty, dally, plus I i 12th of fho yearly f+rerniuni rnsfalitttenrs for hazard insurance, plus t r21h of the
<br />yearly premium installments for mortgage insurance, if any, elf as reasonably estimated initially and from lime to time by Beneficiary on
<br />the basis of asse,ssrnonfs and bills and reasonable estimates thnrenl. The Foods shall be held in an uistltuhon, the deposits or
<br />accounts of which are insured or guaranteed by a federal nr strife agerto y inclurt,ny Penef crary Benn_Gaiury sh,aq ripply the Funds ti!
<br />pay sold taxes, assessments, insuranco preimums and ground rents Benoficiary shall not hot required to pay 7rustar any interest or
<br />earnings on the Funds Benrif curry shall give to Trustor, without charge, all ar wal itcrounhng of the Fluids showing credits arid
<br />dobtts to the Funds and the purpose for which otach tlebil to the Funds w,, -ts m ide, The /yids are pledged as additional security for
<br />the indebtedness secured try rhrs Deed of Trust. If the amount of the Funrds held by Benebclaty, Together with 11101 future monthly
<br />.b instalftllenfs of Funds payalale poor t0 life due date°~ of tp,— ,rgt ;nc a Itrerits, insurance ptenlitim5 and ground rents, shall exceed the
<br />amount requited to pity said faxes, tt95e.5Smerrf5, im;nlanre pfermMVs and ground writs a5 they fall due, sucti excess Shall be, at
<br />Tntstor's opaon, hither ptnlnlltly repctutf to Iroslur (it Cr9rhferd fly let 4(11 agiunst hiflire wonrhly msfallmr'nts (rf funds. It the? amours, (,I
<br />free Funds held Ity Beneficiary .shrUf ni)t her stillrcyont fn pay Llk"s, t sit. snrenlc. rnstir ;nice preavlim Lind qru imf hVlrc ,1s U•ry tin ti„a.
<br />rfusfda 3half pity ro lloveful iafv any ift wtmf el"C(nwit y iO lnilkt: lit, the (h ?tP.'4 ;.. -)' li tit ;�l] rhtft y !fa j ". 11,;1)1 "If' [d iL. •7(+t4'l` !ti 1r7,7�iahi
<br />Ileoofrciery rfi 1 rusrnr fequr m1roo pAyrftenf fhern„ f t_fptm p, gfnonf m fire!
<br />1ru!,relf al,y I w ,1 i held hl,, ftr!"oh,',vY it the Ifi,sf Vwprfiry' i :ltiil ,'�i it �r il,tr , 14l'(!r �." . 1 -,, :�, ,I,r i I /�t il„ r % I.� '.. .. �4,�,. y/l q,: -
<br />ty fieoetF.crtr y, !.'Nnf M1coey !,naA aril y, ;lnrne-rhJtniY plum f F!: ;, ,re , I. ,. . 1. , , .i.,
<br />11 (1 d,1 fly t1r,j1 "i, terry ar flnr !one :7r tit (iv.: a,.rr. ,��; ,l rvdN a!iR w,! rin. Ir irlsh�:r I! l+ „< , r i r, r �.
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