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85-0056-36 Deed of Trust 11th October_ 85 GEORGE W. MARTIN AND T141S DEED OF TRUST fs made this day" of —. , 19 —. , by and between __ MARIAN B. MARTIN as husband and wife _ _ whether one or more, (hereinafter called the "Trusbr '), whose mailing address is 1 7n9 Wear int.-Grand _Js_1.and _NE-__ 66801 - -- NORWEST BANK Nebraska. Natit2a� Ass£4s� attotL __ __ (hereinafter called the "Trustee "), whose mailing address is __.,.lnclxrccTneuk Nebraska. Nationa Aasoc{aUQSL —, (hereinafter celled the "Beneficiary'), whose mailing address is WITNESSETH IF THiS BOX IS CHECKED( / THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES. GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY DESCRIBED HEREINSELOW. HUNDRED FIFTY AND NO 100 - - -- __ WHEREAS, Trustor is indebted to Beneficiary in the principal sum of _ONE_ _THOUSAND indebtedness es evidenced by Trustor's promissory note dated - __0rtobPr 1 7 1985—., (hereinafter Dollars (S -150,000–M), which the "Note"), payable to the order of Beneficiary and having a maturity of 0-ctoher_11, . 1990 ._.____— .___---------- - - - - -- called NOW THEREFORE, for the purpose of securing: (a) payment of the Note, together with interest thereon, late charges, prepayment penalties. any future advances, and all extensions. modifications, substitutions and renewals thereof. interest thereon. advanced to protect the security of this Deed of Trust and (b) payment of all other sums. fees of charges, together with the performance of the covenants and agreements of Trustor, whether or not set forth herein. (c) performance, discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein or incorporated by reference or any other security instrument at anytime given to .secure the Note, and (d) the repayment of all other sums of future advances, with interest thereon. which may heretofore have been or hereafter be advanced by Beneficiary to Trustor or Trustor's successor in interest or title, 'Indebtedness'. Trustor irrevocably grants and transfers to Trustee, in trust, WITH POWER all of which is hereinafter collectively called the land comprising all of the Southeast Quarter of the OF SALE, the following described property: A tract of Southeast Quarter (SEkSE)t) of Section Thirteen (13), Township Eleven (11) North, Range Ten (10) West of the 6th P.M., in Hall County, Nebraska, excepting therefrom the Westerly Seventy–Five (75.0) feet thereof; and excepting therefrom the Northerly Two Hundred Forty–Four & Sixty –Five Hundredths (244.65) feet of the Easterly Seven Hundred Twenty (720.0) feet of the Westerly Seven Hundred Ninety Five (795.0) feet thereof, said Tract containing 33.192 Acres more or less. with (i) all buildings. structures. additions enlargements. modifications, repairs, replacements, and improvements now or hereafter together located thereon, (ii) all equipment, machinery and fixtures (including, without limitation, all lighting, heating, ventilating, cooling. air boilers. ranges. ovens. dishwashers. mirrors and mantels, conditioning, sprinkling and plumbing fixtures, water and power systems, engines, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos. transformers, electrical carpeting, equipment, storm and screen windows. doors, awnings and shades) now or hereafter attached to, or burls m. any budding or improvement feasenold estate, fight. title and interest of now or hereafter located thereon. (ilfi all easements and rights of way appurtenant thereto. ov). air leases, now or hereafter existing or entered into (including, without limitation, all cash and security deposits. Trustor in and to all whether advance rentals and deposits or payments of a similar nature), pertaining thereto. (v) all rents, issues, profits and income therefrom (subject income as they become due and payable so long as no event of w to the right of Trustor to collect and apply such rents, issues, profits and default exists hereunder), (w) all royalties, mineral, oil and gas rights and profits, water, water rights. and water .stock. (vii) all tenements. ;$ ` hereditaments, privileges and appurtenances belonging, used or enjoyed in Conn --ion therewith, and ivw) all proceeds of conversion, foregoing into cash or liquidated claims (including without limitation. proceeds of insurance and - Al voluntary or involuntary, of any of the condemnation awards), all of which is hereinafter cvflecarvefy called the Trust Properly TO PROTECT THE SECURITY OF THIS DEED OF TRUST. TRUSTOR COVENANTS AND AGREES AS FOLLOWS 1. Title, Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property free Deed Trust is and will remain a valid and enforceable first lien on the Trust Property, from any prior lien or encumbrance, that this of 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 Property and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties Trust, each amendment or supplement hereto, to be filed and whomsoever. Trustor, at its expense. will cause this Deed of and recorded as a mortgage of the Trust Property in Such mariner and tot Such place and will take such action as in the opinion of Trustee 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 further assurance or assurances to perfect its title to the Trust be amended or supplemented from time to time Trustor will make such Property as may be required by Beneficiary Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property. 2 Payment of Indebtedness. Trustor shall punctually pay the principal of and interest on the indebtedness secured hereby. 3, Consmuotton of improvements. Trustor shall complete in good and workmanlike manner any buildings, improvements or repairs relating loan by the Note secured hereby, to pay when thereto which may be begun on the Trust Property or contemplated by the evidenced due all costs and liabilities incurred therefore, and not to permit any construction ken against such Trust Property. In the event construction of buildings, improvements or repairs are contemplated. Trustor also agrees. anything in this Deed of Trust to the contrary to complete the proposed improvements promptly, (b) to complete the notwithstanding; (a) to promptly commence any such work and same in accordance with the plans and specifications as approved by Beneficiary. (,c) to comply with all the terms of a budding loan agreement. N any, between Trustor and BerreBciary, the terms of which are incorporated herein by reference and made a part hereol, (d) to allow Beneficiary to inspect the Trust Property at all times during construction, and (e) to replace any work or materials unsatisfactory to Beneficiary within fifteen t 15t days after written notice from Beneficiary of such fact 4. Funds lot Payment of Charges Subject to applicable law or to a wnhen waiver by Beneficiary, Trustor shall pay to Benelicrary on the 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 sum 'Funds ") to r 12th the taxes and assessments which may artain priority over this Deed of Trust (hMemaftef called the equal of yearly and ground rents on the 'Trust Property. It any, plus 1 12th of the yearly premium installments for hazard insurance, plus 1 12th of the yaarfty premium Installments for nrongage insurance, if any, all as reasonably estimated initially and from time fo tome by Beneficiary on the bas +s of assessments and bills and reasonable estimates thereof The Funds shall be held in an institution, the deposits or accocrnts of which are insured or guaranteed by a federal or state agency including Beneficiary Beneficiary shall apply the Funds to pay said faxes, assessments, Insurance premiums and ground rents Beneficiary shall not be required to pay Trustor any interest or eam+ng3 on the Funds Seneliciary shall give to Thistor, without Charge, all annual accounting of file Funds showing credlrs and debits to rho Funds and the purpuse for which each debit to the Funds was made rile Funds are pledged as additional security for the tndebtednliss secured by this Deed of Trust it the amount of the Funds held by Beneficiary together with the future monthly L nstallrri*nts of Funds payable pr2N to the due da!BS of taxes, assessments, insurance premiums arld ground rents, shall exceed fife wrkxfflt required to pay said raxifis, asseSSnlenls, insurance prenller.nls and ground refits a5 they fall true Such excess Shall be, ,vt Trinfor's optKxr. either prWiplfy repaid Iv Irusior or credited to rrusfor against future monthly insfallmenfS rd Funds it the amourif of the Finds held by Beneficiary shied not be sufficient to pay taxes. ass_ssrrlents, r)soranc:e prern+nrns and yrouna taints as they fah rifle Trustor Shaft pay (c Benehcuary any arrK)i)ril Accessary to (Alike tip the deficlency within thirty days !rom fill daft? m)hr;e> :S maiiecl tly yAlrtefrcac9ry in Pusltr rwilJoStinq payment rhoreof Iiporr paymeru in hill of ah lndable'Ine..s. 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