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85,004581
<br />DEED OF TRUST is made INS ? 7t h
<br />W t " mailing ado
<br />WORWEST BANK
<br />caged die "Beneficiary'], whose mailing address is
<br />of_ August_____, 19..@.5_, by and between_ Ralph F._�u�tliy,,jr.
<br />whether one or more, (hereinafter called lure "Trustor"),
<br />the "Trustee "), whose mailing address is
<br />(hereinafter
<br />WITNESSETH:
<br />IF THIS BON IS CHECKED f j iHIS 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 indebled to Beneficiary in the principal suin of Five Thousand Five Hundred and no/100--
<br />Dollars; (f 5.500.00 ), which indebledr7ess is evidenced by Trustor's promissory note dated &19W1S. 2Z_ : 19 — , (hereinafter
<br />called the "Note-), payable to the order of Beneficiary and having a matunty of Mril 1 1 bb
<br />NOW THEREFORE, for the purpose of securing:
<br />(a) payment of the Nefe, together with interest thereor7, late charges, prepayment penalties, any future advances, and all extensions,
<br />ax0 tcatiorts, substitutions and renewals thereof,
<br />(b) paymernf of alt other sums, fees or ahages, togerht r with interest thereon, advanced to protect the security of this Deed of Trust and
<br />the performance of ft covenants and agreements or Trustor, whether or not set forth herein,
<br />(c) pedommme. 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 alt other sums or future advances, with interest thereon, which may heretofore have been or hereafter be advanced
<br />by Beneficiary to Truster or Tiustor's successes in interest or rifle,
<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 Mftowmg described property:
<br />Lot Nine (9) in Block Fifteen i:5) of H.G. Clark's Addition
<br />to the City of Grand island, Nebraska
<br />together with fi) all buildings. structures, additions, entaigen7ents, modifications, repairs, replacements, and improvemants now or hereafter
<br />locared thereon. (a) all equipment, machinery and fixtures ( including, without hmttation, all fighting, heating, ventilating, cooling, air
<br />eomMmy trig, spnnkknq and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels,
<br />catpohng, furnaces. od bunters, elevators and motors, retngeraion plants or units, communication systems, dynamos. transformers, eiectrtcal
<br />equipr►7enl, storm and screen windows.doors, awnings and shades) now or hereafter attached to, or burl! m, any building or improvement
<br />now of hereafter located thereon, (ar) as easements and rights of way appurtenant thereto, (w), all leaseho)d estate, right, title and interest of
<br />Trustor in avid to alt 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 cWlect and apply such rents, issues, profits and income as they become due and payable so long as no event of
<br />default exists hereunder), (w) all royalties, mineral, orl curd gas rights and profits, water, water nghfs, and water stock, Not) all tenements.
<br />heredifamems, privileges and aptivifenanres belonging, used or enjoyed in connection therewith.. and (vii) all proceeds of conversion,
<br />vdungry of invohanfary, of any of the foregornq into rash or liquidated claims (includ og, without firtrtation, proceeds of insurancu and
<br />condemnation awards). all of winch is hereinafter collechvely called the "Trust Property
<br />TOPROTECT THE SECURITY OF THIS DEED OF TRUSI, TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br />T. Tree_ Trustor Covenants, warrants anti agrees with Beneficiary, its successors arid assigns, that Trustor owns the Trust Properly free
<br />from any prior hen or encumbrance. That this Deed of Trust is and wail remain a valid and enforceable first lien on the Trust Properly,
<br />Trustor, of its expense. will preserve such title and will maintain this Deed of Trust as a first and parainounf hen upon the Trust
<br />Property and will forever warrant and defend the validity and priority of the lien lit-trot against the maims of all persons and parties
<br />whomsoever Trustor, at its expense, will cause this Deed tit trust. and each amendment or supplement hereto, to be tiled and
<br />recorded as a mortgage of the Trust Property in such manner and in such place and will take such action as in the opinion of Trustee
<br />may be requited by any present or future law tit order to perfect, mat Lain and protect the lien of this Deed of Trust, as the same may
<br />be amended or supplemented from time to time. 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 an tight of dower and homestead in and to the Trust Property.
<br />2. Peyrnat of Indebtedness. Trustor shall punctually pay the principal of and interest on the Indebtedness secured hereby.
<br />1 ConsMoCkn of lntproverMnis. Trustor shah comphte in good and workmanlike manner any buildings, anprovemenfs w repairs refahng
<br />faro which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when
<br />dire me costs and liabilities incurred therefore, and not to permit any construction lien against such Trust Property. In the event
<br />conshuchon of buildings, improvements or reports are contemplated, Trustor also agrees, anything in this Deed or trust ro the contrary
<br />rnofwpriNaidiig: (a) to promptly commence any such work and to complete the proposed improvements promptly, (b) to complete the
<br />sane in accordance with the plans and specifications as approved by Beneficiary. (c) to comply with all the terms of a building loan
<br />sigreemeM, d any, between Trustor and Beneficiary, the forms of which are incorporated heroin by reference and made a pan hereof,
<br />fd) to aftow Beaehctary to inspect the Trust Property at an times during construction, and (e) to replace any work or materials
<br />unsaaalactory ro Bernef(cnary within fifteen (15) days after written nottro from Beneficiary of such fact.
<br />1. Funds For Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustor shall pay to Beneficiary net the
<br />gyN day of each month, of such other date each month as may be specified by Beneficiary, until the Indebtedness is paid rn full, a sum
<br />th reeealler coiled the "Funds'") equal to 1112th of the yearly taxes and assessments which nray attain priority over this Deed of trust
<br />SW ground tats on the Trust Property, of airy, plus 1112th of It* yearly premium installments for hazard insurance, plus n f2th of the
<br />year*prommm insla dents for mortgage insurance, if any, all as reasonably estimated initially and from lime to time by Seneboary on
<br />OW bath of 85MOirernts avid bias and reasonable estimates thereof, The Funds shall be held in an Institution, the deposits or
<br />aecotaW of wfUCh are insured or guaranteed by a federal or sfe to agency including Beneficfary Beneficiary shall apply the Funds to
<br />pey $ad taros, aesessmetts, insurance premiums and ground 'ants. Beneficiary .shall not be required to pay Trustor any inferesf or
<br />0&1*"P pre No Funds. Benfbciery shop give to Trustor, withou charge, an annual accounting of the Funds showing credits and
<br />debrlll ro NIS funds "the purpose for which each dotal to th f Funds was made, The funds aro pledgod as addtt,to al senility for
<br />the bldebMdroes secured by #*a Deed of Trust. of the amount of the Funds held by Beneficiary, together with the future rnnrifhly
<br />0 starllr of Funds payable prtor it) the due dates of taxes, a SsesSments, insurance piennumi and gto ur7d rents, shall exCeerl the
<br />amorrt regrared to pay sold taxes, assessmerr(s, 005ura7ce fxemiums and ,ground rents as they fall due, such e,cess shad be, at
<br />Truoror "s opaon, either promptly tMpa "f to Trustur or credited to Trustor against future monthly inslaaments of Funds If the amount of
<br />�r the fu rwi; hold by Berth! /M,'iary shah" be .4uffK :lent to pay inxes, nisessm7ents, en9uranre premiums arhi ground rents an the On dui?,
<br />1 Truil4W shop pay to Beneficiary any amount necessary to ")bike up the dohcrrrncy withal thirty days him the date volt'-'e is marred by
<br />T' Benefrctay is Trustor toq uitshng payn)enrThereof iJpcin payment in hull of all Indebtndi7wss, Renoficiay .shad pioniptiv itf4wit to
<br />flus""Funds held by Ber)elk -forty 1! tlw !rust I'mperfy t% sniff under the power of „vie or the bust Pooperfy �s Lvherw s ur giivnd
<br />by aor* browy, 0"ftcut y shag ppor7ly, imInftdiih•ly pnfi fir Ilia_ sain of Iho iris! I'rpl',r•ny r:• is nrqu +w I,i,n "V t ;7 nr +r:r?,rry. en7 I,imr:
<br />befit by 0*n*frt.'rary at Non funs rd ar`i%' ;alibro aU it Crpllif 4gam;f tote 4 Ifnnnrr ;uy nun °uws :+ w• "n". ,%mill, W
<br />Sit, %AIat7I)a urf {}'pr 7th& parayral7h i, frulito Cnver7a oh and agreN3 to pay, beft— lf'a 'amo 1vrC:!+np U . n "cF "r. 'i l ',7 „'C, ii ':'ry•n!e.
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