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N-WQ85--- 004868 Deed of Trust
<br />THIS DE D OF TRUST is made this 7n d_— day of — Qrtnhe.r_ , 19 _.85_ , by and between Petra _e Ranchu ,
<br />A �i n a e PQ on whether one or more, (hereinafter called the "Trustor' "),
<br />whose mailing address is .._124 fit_ ] 1Lh_StreQ ,SiC�tid_LSldrid�.Nebraska 6880
<br />NORWE T BANK —p) Ni1LI0NAL_AS$OLLA�LOt�I - - - - -- (hereinafter called the ..Trustee "), whose mailing address is
<br />R 0 _1 fib. _6r3nd_. s�and;de a__, and NORWEST BANK ��-ras-k 1 Ac �QQ��-- (hereinafter
<br />called the "Beneficiary'). whose mailing address is �,.4_ �4)S ._1Z6$.,_ E? rand glebra �1— -
<br />WiTNESSETH.
<br />IF THIS BOX IS CHECKED f 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 ___Ei_ght.ShDmSM _E1SJh Hw1d►— p QD1j00 - --
<br />Dollars (1$800- 0____ ), which indebtedness is evidenced by Truster's pro rrti sory gote dated t4�g% 19, _(hereinafter
<br />called the Note'), payable to the order of Beneficiary and having a maturity of _ryOVe_If_ber___! -_,,
<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, fee &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 cr hereafter be advanced
<br />by Beneficiary to Trusror or Trustor'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 in\ Block Eight (8), Boggs & Hill's Addition to the City
<br />c,Sixteen l(16),
<br />together wish )i) all buildings, structures, addnt m% *Nn 19LIMWAs, modiltc lions, tppaxs, re}�1aCemtnts, anti IMPIOVbnten% 0W Bt hBte2her
<br />located thereon, (it,' all equipment, machinery and fixtures inncludmg, without limitation, all lighting. heating, ventilating. cooling, air
<br />condirroning, sprinkling and plumbing fixtures, water and power systems, engines, boils, ranges, ovens, dishwashers, mirrors and mantels,
<br />carpeting, furnaces, oil burners. elevators and motors, refrigeration plants or units, communication systems, dvnamos, transformers, electrical
<br />equipment, storm and screen wmdows,doors, awnings and shades) now or hereafter attached to, or burlr in, any building or improvement
<br />now or hereafter located thereon. fill) all easements and rights of way appurtenant thereto, (w), all feasehold estate. right, title and Interest of
<br />Trustor 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
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<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 />default exists hereunder) Nil all royalties, mineral, oil and gas rights and profits, water tights, and water stock, (vi) all tenements,
<br />heredifaments, privileges and appurtenances belonging. used or enjoyed In connection therewith, and (vuI) all proceeds of Conversion,
<br />voluntary or involuntary. of any of the foregoing Into rash or liquidated claims (including, without funiation,, proceeds of insurance and
<br />condemnation awards,i. all of which is hereinafter collectively called the " Trust Properly`
<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 />from any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first hen 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 hen 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 the Trust Property In such manner and in such place and will take such action as ;n 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 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 ali right of dower and homestead in and to the Trust Properly.
<br />2 Payment of Indebtedness. Trustor snail punctually pay the principal of and interest on the Indebtedness secured hereby.
<br />3 Construction of Improvements. Trustor shall complete in good and workmanlike manner any buildings, improvements or repairs 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 aft costs and liabilities incurred therefore, and not to permit any construction lien against such Trust Property. In the event
<br />construction of buildings, improvements or repairs are contemplated. Trustor also agrees, anything to this Deed of Trust to the contrary
<br />notwithstanding; (a) to promptly commence any such work and to complete the proposed improvements promptly, (b) to complete the
<br />Samoa? accordance with the plans and specifications as approved by Beneficiary. (c) to comply with all the terms of a building loan
<br />agreement, if any, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a part hereof,
<br />(d) to allow Beneficiary to inspect the Trust Properly at all times during construction, and re) to replace any work or materials
<br />unsatisfactory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact.
<br />4. Funds flit Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustor .snail pay to Beneficiary on the
<br />first day of each month, or such other date each month as may be specified by Beneficiary, until the Indebtedness is paid in full, a sun?
<br />fhereinafter called the ' "Funds' I equal to 1 121h of rho yearly taxes and assessments which may allaln priority over this Deed of Trust
<br />and ground terns on the Trust Property, It any, plus 1, 12th of the yearly premium installments for hazard insurance, plus 1 12th of the
<br />yearly premium installments for mortgage insurance. if any, all as reasonably estimated initially and from time to time by Beneficiary on
<br />the basis of assessments and bills and reasonable estimates Meteor The Funds shall be held i, an mstirution, the deposits or
<br />accounts of which are insured or guaranteed by a federal or state agency including Beneficiary Beneficiary shall apply the Funds to
<br />pay said taxes, assessments, insurance premiums arid ground rents. Beneficiary shah not be required to pay rruStor any interest of
<br />earnings on the Funds. Beneficiary shall give to Trusror, without charge, an "inual a::countmg of the Funds showing credits and
<br />debts to the Funds and foe purpose for which each debit to the Funds was made The Funds ere pledged as 1004iona) sec:unty for
<br />the indebtedriest; secured try fhls Daed of iriJSf fl the amount o! the Funds hand by Bnnelrchtry together wrtrr Uie lutufe Inonfniy
<br />insrai7mernts ;t Funds payable prior to the Clue dates of faxes, assessments, insuranca prernn.ins and ground rents..Oiaq exceed the
<br />*WyV)wtf required to pay said (axes, assesSinents, fisufance premajair, and ground rews as they bill Lit w Iwch exch'ss .shah be, it
<br />Trus" s option, titter pfoniprfy repaid fa Trustor or credited to Trustor agamSr friture nn!nbr,4' v c flhnents of I urrds If flit, arrriwnr r
<br />mo Funds tntxld fly t3onotpoel'y' Shall got Ile sufficient to (Jay taxes, assessment s, rn..wance hrturwan,S ,1IKf griwim firms o they f,?!;
<br />Truslrr 5hdd twy to Benofc')aly any arnoimf necessary ro rnake uP Joe f16fl";ertr,y w4tw? rimy driYs ticr, ti i. its trl Celt, e ;c ine' /en? hi
<br />fitriON"afy ro T(w.!,e refilaesring payfnelit thereof. Ilpon payfnew p) fill! ()f al! inUnhlay n4 ; F ?fi'le?lr ., irr .f.Al ii o;,r; v ;ehln,' hl
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