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P.
<br />z--i-KS 85-- 00544 .� Deed of Trust
<br />of - -DjCtober , 19 E5— by and between _Gearoe WW Peterson and
<br />whether one or more. (hereinafter called the -'Trustor'),
<br />whose
<br />mailing address is
<br />_ , (hereinafter
<br />called the "Beneficiary'), whose mailing address is
<br />WiTNESSETH.
<br />IF THiS BOX IS CHECKED ( 1 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. Trustori indebted to Beneficiary in the principal su:m of .Ni ne_tgQ_n Thousand . and 0100-- _---- - - -_ -- --
<br />Dollars iS 19.000.OU ), which indebtedness is evidenced by Trustor 's promissory note dated ?.ij495 ber 19 85 . , thereinafter
<br />ca ?led the "Noe "). payable to the order of Beneficiary and having a maturity of .November -_
<br />NOW. THEREFORE. for the purpose of securing:
<br />i,a� pay,,,ent of the Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions,
<br />modifications. substitutions and renewals thereot.
<br />(b) payment of ail other sums fees pr charges, together with rnieresi thereon, advanced ro protect the security of this Deed of Trust and
<br />the performance of the covenants and agreements of Trustor. whether or .got set forth herein.
<br />(c) performance, discharge of and comphance 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 />rdt the n9pa)' nt of all other sums or future advances, with interest thereon, which may nererofore have been or hereafter be advanced
<br />by Beneficiary to Trustor or Trustor's successor m interest or rtle,
<br />ail of which is hereinafter collectively cafied the "indebtedness Trustor inevocab!v grants and transfers to Trustee, ;n trust. WITH POWER
<br />OF SALE, the toliowing described property:
<br />Lot Twenty Five (25), Argo Fourth Subdivision, in the Village of Alda,
<br />hall County, Nebraska, and 1973 Bonnavilla Mobile Home ModelTF 503 BBC,
<br />Identification = 37A3198, 24' X 50'.
<br />together with iU all buildings. structures, additions, enlargements, modifcations. repairs repiacemenrs. anc improvements .now or hereafter
<br />located .hereon. (ii) all equipment. machinery and fixtures ,('including, ,v,tnou; ir,miratron. ail rignvng. neatrng. venniating, cooling. au
<br />condrtoning, sprinkling and plumbing fixtures, water and power systems, engines, ,)overs, renges. ovens, dishwashers, mirrors and mantels.
<br />carpeting, furnaces. on burners, elevators and motors. refrigeration plants or units. communication systems. dynamos, transformers. electrical
<br />equipment, storm ano screen windows.doors, awnings and shades( now or . hereafter attached fo, nr bu +it -n any pu,id/ng or improvement
<br />now or f,ereafter located thereon, ii ;ii all easements and nghts of way appurtenant iheretc. riv, all tea ^ :erold estate. right vile and interest of
<br />Trustor in and to all leases. whether now or hereafter existing or entered into rinciudinq. without tim,tatron all cash and securityy deposits,
<br />advance rentals and deposits or payments of a similar nalurel pertaining theretor ivi aU rents. Issues, profits and income rherefrom %subject
<br />to the right of Trustor to collect and apply such rents, issues, profits and irc:ome as they become due any payabie se long as no event f
<br />default exists hereunder), (vo all royalties, mineral, o; and gas rights and profits, water. water tight_. aCd A-ater stock, rvu) all tenement::,
<br />he,eddaments. privileges and appurtenances belonging. used or enjoyed rn connection rherew,fn ar,c7 va:! art ;iroeeeds of C('nversron.
<br />voluntary or involuntary. of any of the foregong into cash or l,gurdated clairns pnciuJ,ng. witncur Irmirarca. proceeds of insurance and
<br />condemnation awardsi, ail of which s ),)ereiraftet collectively called the Trust Property
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST. TRUS'TOR COVENANTS AND AGPEES AS FOLLOWS
<br />? Title. Trustor covenants, warrants and agrees Witt, Bene'fic,ary, its successors and assigns. 'hat Trusro, owns the T!ust Property free
<br />from any prior lien or encumbrance, that this Deed of Trust is and wilt remain a valid and enforceable first .'ten on the Trust Propenv.
<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 ano will forever warrant and defend the vandny and prior ;ty, of the tier: hereof agaci,st the ctarms of all persons and pa:7ies
<br />whomsoever Trustor, at its expense, will cause this Deed of Trust and each amendment or suppiernent hereto, to be filed and
<br />recorded as a mortgage of the Trust Property in such manner and in such place and wilt take suc^ action as in the opinion of Trustee
<br />ritav be required by any present or future raw in order to perfect, maintain and profecr the lien of this Deed of Trust, as the same ?nay
<br />be amended or supplemented from time to time Trustor will make such further assurance or assurance=_ to pedecr its title to the Trust
<br />Property as may be required by Beneficiary Trustor hereby relinquishes ali ngt,•t of dower and homestead in and to the Trust Proper?,,,
<br />2 Payment of indebtedness. Trustor shall punctually pay the principal of and interest on the indebtedness secured hereby
<br />3 Construction of Improvements. Trustor shall complete in good and workmantike 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 all costs and liabilities Incurred therefore and not to permit any construction lien against such Trust Property fn the event
<br />construction of ouddmgs, Improvements or repairs are contemplated- Trustor also agrees. aryrhirig in this Reed of Trust to the contrary
<br />notwrMStairding, rat to prorrrptly commence any such work and to complete the proposed emprovements p'rOmptly, it?; ro complete the
<br />same rn accordance with the plans and specifications as approved by Beneficiary. !ci to compiy with aline terms of a budding loan
<br />agreement. it any, between Trustor and Berteliciary. the terms of which are incorporated nerein by reference and matte apart hereof
<br />Ili to allow Beneficiary to mspecr the Trust Property at do times doing construction. arid ie) to replace any work or materials
<br />unsatisfactory to Befreficrary within fifteen 115) days after written notice from 8eneflGary of such fart
<br />4. Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary. Trustor snail pay to Berefi--idry on the
<br />first day of each month, or such other date each month as may be specified by Beneficiary, inni the , .;ebr5dness is paid in fur,, a sum
<br />RrbrernSfter called Me "Funds- ;I equal to i. t2rh of the yearly taxes and assessments whir ;n may attar prionry ; ?ver rhis Deed of Trust
<br />and ground rents or the Trust Property, if any, plus r 121h of the yearly premium installments 4v hazard assurance, plus 1 12rh of the
<br />yearly premium Installments for mortgage rnsuran! e, if any, all as reasonably estmdred nlit,altv and °corn time to fime by Beneficiary on
<br />1he basis of assessments and bills and reasonable estimates thereof The rands shall be r?Eld !r? art :r,yt /tUt0.7n_ tot? LleppSdS (it
<br />accounts of which are insured or guaranteed by a federal or state agency utciuding RwwOwiary Benehnary shah apply the Funds ro
<br />pay sand taxes, assessment& insurance premiums and ground rents. Beneficiary shat; nor be •eg, ;rte ;a h7 ;lay Trustor Any interesr o,
<br />earrings an the Funds Betwfiblary shall give to T!UBlpr, without charge an annum acCOUnhrng .!1'h ✓ uncc ,Viowiny credif5 and
<br />debits 117 the Funds and the purtx>ae for which each debit to the Funds was rnade The r unit'. i,e p, oogeo AS _lad..o a, sec -W j' .or
<br />The lndttbfedness strured by HMs hoed of Tn sf If tho amount of the Tun d.' hPid by !3f , f - :'art (rn .5 tt. ie t ,)re ni vif.nry
<br />.i
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<br />arnoanr required r' liay iiiwl faxfli iti urance p R rl fir acid gmund -E t Y t i I-i!? l ;e E . ( t 91l lW {r
<br />?rug rr! s C)(#I!N" eifht' p irnpfty tf,�I t 1 is tru5t>r w 1 :redrtt , ' ust r agv 1 tut i,
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