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IBA.vKS $5-4 005066 Deed of Trust
<br />THIS DEED OF TRUST is made this __.11th_ day of _. October___
<br />whose - -
<br />pO OWEST BANKK Nebraska Nations Association ..... _ ( hereinafter called Ve "Trustee "), whose mailing address is
<br />0. Box 17 i1i ;Rls�Lan�� I� _ and NORWEST BANK ationa Associat on (hereinafter
<br />called the "Beneficiary'), whose mailing address is
<br />85 GEORGE. W. MARTIN
<br />19 - -.. by and between.
<br />_ whether one or more, (hereinafter called the "Trustor").
<br />��- N�-- 601-- -- - - -- — -
<br />WITNESSETH:
<br />IF THIS BOX IS CHECKED ( ) THIS DEED OF 7PUST 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 />WHERE'A`SAT,russttoris indebted to Beneficiary in the principal sum of _.QNf ..1J0_ED__ FIFTY_THOUSAND AND _NO /1-00- -----------
<br />Dollars (5�� �� �Q - -- 1. which indebtedness is evidenced by Trustor'" promissory note dated _ 0 _ll _.. , 19 $5 _— (hereinafter
<br />called the "Note'), payable to the order of Beneficiary and having a maturity of .. October 11 1
<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 nave been or hereafter be advanced
<br />by Beneficiary to Trustor 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: A tract of land comprising all of the Southeast Quarter of the
<br />Southeast Quarter (SE,SE!4) of Section Thirteen (13), Township Eleven (11) North, Range Ten (10)
<br />West of the 6th P.M., in Hall County, Nebraska, excepting therefrom the Westerly Seventy -Five
<br />(75.0) feet thereof; and excepting therefrom the Northerly Two Hundred Forty Four and Sixty Five
<br />Huundreedt�h3s (2�4r4.66�5t) feet of
<br />`/` the �Easterly Seven Hundred Twenty (720.0) feet of the Westerly Seven
<br />H together wirnnfi) aft bout U!'ngs sttruc1olBS f ailed)bonseenlargements. modifications,, repairs. eplacemen s, and improvements rnow or hereafter
<br />located thereon, (if) all equipment, machinery and fixtures rrncludmg, without limitation. all lighting. heating. ventilating, cooling, air
<br />conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boilers, 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.doos, awnings and shades) now or hereafter attached to, or built in, any building or unprovement
<br />now or hereafter located thereon, (iii) all easements and rights of way appurtenant thereto, ovi, ail leasehold estate. fight, title and interest of
<br />Trustor in and to all leases, whether now or hereafter existing or entered into !including, without irmrtation, all cash and security deposits,
<br />advance rentals and deposits or payments of a ,similar nature), pertaining thereto, (vi al! rents. ssues, profits and income therefrom (subject
<br />to the right of Tlusror to collect arid apply Such rentsr issues, profits and incornc as mey become due and payable so long as no event of
<br />default exists hereunder), tvy all royalties. mineral, oit aria _gas rights and prohrs. water. water rights. and water stock, (vii) all tenements,
<br />hereditaments, privileges arid appurtenances belonging used or removed m connection rheewirh and tvrn) alt proceeds of conversion.
<br />voluntary or involuntary, of any of the foregoing Into cash or hquroated 0avns (rnc Ufftng, without !mitabOn, proceeds of insurance and
<br />condemnation awards), ail of which .i hereinafter coUectovery (aired rl,e Trust Propeny
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTVH COVENANTS INC; AGRFES AS FOLLOWS
<br />i Tate. TruSlor covenants, warrants and agrees with Renehciary. rs successors ,aria ass,gnr:, rhat Trustor owns the Trust Property free
<br />from any prior Uart or encurnbrancc, that !fins Deea of Trust ,s and will remain a vaitd 'and e- nlorceable firs! ben on the Trust Property.
<br />that Trustor. at,rs expense, wilt preserve such title ano will matn!aan rh,s Deed of Trust as a first and paraniourtl lien upon tre Trust
<br />Property and wilt forever warrant and defend the vaiid tV end prronty of the ben hereof against the clams 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 Properly in such mariner and in such place and will take .such action as it) the Opinion of Trustee
<br />may be required by any present or future law in order to perfect. maintain and protect the hen 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 'Frust
<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 Indebteaness Trustor shall punctually pay the principal of and interest on the Indebtedness secured hereby
<br />3 Construction of improvements Trustor shall complete m gcxwd and workmanhke 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 alt costs and haburtic,s incurred therefore, and nor to pemnt any construction lien against such Trust Property in the event
<br />construction of buildings rnprovencents or repairs are contemplated, Trustor also agrees, anything in this Deed of Trust to the contrary
<br />notwithstanding, (a) to viol ^Wly r_omrrience any such work and to c:ornpiele the proposed improvements promptly, (b) fe complete the
<br />same in accordance with me pians and specifiratrons as approved by Beneficiary, (c) to comply with all the leans of u building loan
<br />agreement, it any, between Trustor and Beneficiary, the ferns of which are incorporated herein by reference and niade it part hereof,
<br />(d) to allow Beneftciary to mspect the Trust Property at alt nines during construction and te) 10 enlace any work or rnafenats
<br />unsatisfactory to Benefirt,,iry within fifteen t 1,U day9 after wriffen notice from Renehciary of Such fac,r
<br />4 Funds for Payment of pharges. Subject to applicable law or to a wnFfen waiver by Renefir,.ray, mist" shall pay to Hehenniary on the
<br />first day of each month, or such other date each month as inay be spec lied by Beneficiary. until Me hufeblednes3 is paid r1) lull, a Munn
<br />(hereinafter called the Funds I equal to 1 12th of the yearly taxes and assessments which may arain prronty over this Deed of Trust
<br />and ground rents on the Trust Proi:rerty. it any, plus 1 12th of the yerar(y premium rnstaliments lot ha:ard insurance. plus t 1211) of the
<br />yearly premium mstallnents lot mortgage insuenco, if any, all as reasonably esternated mihally find from time to time by Beneficiary on
<br />the basis of assessments and bills and reasonable esfrniafes theeof The Funds shall be held rti an inslduhrui. the rlepo ols w
<br />accounis of which are insured or guaranteed by a federal or stale agency mchidrng Renefa airy lBenefciary shall apply the ) wills n,
<br />pay sled taxes, assnsstriont%, insurance prom/urns and ground rents Rear f Crary "hail nor he required ro pay mist", ,Inv irilelesf w
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<br />n' �r nc;l �! r� 1- 1 f 1r rwithout r i t e; n r i i r. 1)i r 1 'n � r .r t-
<br />ear 11) s m t funds. He is a .1t t1 rive o usfo l a c .. f f 1. i i r u t l e i, a i. w r c c le .fit's to (Tilt
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<br />h +F 1).n 7tr i i nl.rwhi t ;h rhri fo the Funlsw rule, e F,n fret 1 i .f rui f .r � a ' ;r
<br />L lefts rp ! e u ds i U e) o f cis e c ei d 1 J as ) e I r f c t y
<br />Ow lndabtednes ,ecurod by this Oepfl of t u ;f 11 the atilounrof fhe F unrf tw a by !0(10111e! _ A tr fir ir ,nn rely
<br />!ri V4jlmets
<br />vl F unds payable prior In tree due dales of fax w,. ev,sessmtmts m-eutanf 0 '11 10 Qhololo 'o h,w i x, Vic
<br />afflourit require;(l fo pay gatel fiexeli i.sVI Snierils mswan e. ptr.•fnuvns and ground rr t, ;1,; nroy Rill.hw .i,c to ....
<br />tnfifor 5 opn(in (Wher (mirnptfy fol i'l to IniVoo fir r ;teihred le) 1111CnW r'I r)alrl!:f `W1111' I,! /!f ll�i' ,.1t, 1� /1'e •�, �'! I �,.' ; ;� �r 1�'r' .ill.
<br />the f,irtris hnild by Renoliciary atwil nor he sulfic +rent to flay raxet , ,rnent, ,1),:u
<br />`ru'i!':r -,hifd ii,iy !!, e'9e irnrhr. !refry inv ut, !Li• .1W,(
<br />Ffiorr.hr.,Oto, 'iv'fo, Ieijun ;t ;nor t, r,!;em! If, ...... J Uii:,n (oi yirbnr! n .i ., 4
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