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<br />85,, 006113
<br />Deed of Trust
<br />THIS DEED OF TRUST is made this _.5.th._._ day of i]eremher __ , 19 f15–, by and between V .M _ Too_LX_QMP_aDy. _ InC • ,
<br />_.6_____170,_ whether one or more, (hereinafter called the "Trustor'),
<br />whose mailing address is �_ ,_ ATd-a3 __ Ne raslca �$$�0,__
<br />NORWESTBANK Nphracka, National Accpjat.ion (hereinafter called the "Trustee'). whose mailing address is
<br />P-0- Box 1768, 11.rginej IclandNE —, and NORWEST BANK _ble Xatska National Assor;arion__, (hereinafter
<br />called the "Beneficiary'). whose mailing address is ESQ ��s_��nd Island.
<br />WITNESSETH.
<br />IF THIS BOX IS CHECKED ( 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 ONE- $IJ DEED_ ORT 7-- FM_THOIISANn_Ap_Mf10_Q —_
<br />DolrarS (S 145.000.00 ), which indebtedness is evidenced by Trustor 's promissory note datedDeremher 5 , 19 25—. ( hereinafter
<br />called the "Note'), payable to the order of Beneficiary and having a maturity of
<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, lees or charges, together with interest thereon, advanced ro protect the security of this Deed of Trust and
<br />the performance of the coven&7ts 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 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:
<br />LOT FIFTEEN (15) IN ARGO SUBDIVISION, ALDA
<br />IN SECTION 5, TOWNSHIP 10 NORTH, RANGE 10
<br />WEST OF THE 6TH P.M., HALL COUNTY NEBRASKA
<br />together with (ii all buildings, structures, additions, enlargements, modifications, repairs, replacements. and improvements now or hereafter
<br />located thereon, (tO all equipment, machinery and fixtures (including, without limitation, all fighting, 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. dy,-,amos. transformers, electrical
<br />equipment, storm and screen windows.doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement
<br />now or hereafter located thereon. (ill) all easements and rights of way appurtenant thereto. ov). all leasehoid 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
<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), (vi) all royalties, mineral, oil and gas rights and profits. water. water tights. and water stock. ivii) all tenements,
<br />heredifaments, privileges and appurtenances belonging, used or enjoyed in connection therewith,, and ivr!i) all proceeds of conversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims irncluoing, without hmitation. proceeds of insurance and
<br />condemnation awards), all of which is hereinafter collectively called the "Trust Property'
<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 Properly 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 Properly.
<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 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 arid will rake such action as in 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 rifle to the Trust
<br />Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Properly
<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 workmanlike manner any buildings, improvements or repairs relating
<br />thereto which may be begun on the Trust Properly 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. In the event
<br />construction of buildings, improvements or repairs are contemplated, Truslor also agrees, anything in this Deed of Trust to the contrary
<br />notwithstanding; (a) to promptly commence any such work arid to complete the proposed improvements promptly, (b) to complete the
<br />same in accordance with the plans and specifications as approved by Beneficiary, (c) to comply with ail the forms of a building loan
<br />agreement, if any, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a pan hereof,
<br />(d) to allow Beneficiary to inspect the Trust Property at all times during construction, aria (e) to replace any work or materials
<br />unsatisfactory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such tact
<br />4, Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary. Trustor shah pay to Beneficiary on the
<br />first day of each month, or such other date each month as may be specified by Beneficiary, unlit the Indebtedness is paid in full, a sum
<br />(hereinafter called the 'Funds') equal to 142th of the yearly taxes and assessments which may attain priority over this Deed of Trust
<br />and ground rents on the Trust Property, if 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 thereof. Fie Funds shall be held in an institution, the deposits or
<br />accounts of which are Insured or guaranteed by a federal or state agency including Beneficiary Penefciary shall apply the Funds to
<br />pay said faxes, assessments, insurance premiums and ground rents Beneficiary shall not be required to pay Trustor any interest or
<br />earnings on the Funds. Beneficiary shall give to Trustor, without charge, an annual accounting of the Fands showing credits and
<br />debits to the Funds and the purpose for which each debit to the Funds was made The Funds are pledged as adootroriat security, lot
<br />the Indebtedness secured by this Deed of Trust. If the amount of the Fluids livid by Beneficiary, together with the future monthly
<br />instalments 01 Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed file
<br />amount requited to pay said taxes, assessrraents, insurance premiums and ground rents as they fail due, ;tut:h excess shall be, rat
<br />T/us(af S Option, either promptly repaid to tfustor or credited to rrustor agarrSt future monthly rnsla/lrnents (d f (rods It file 11not nt ni
<br />rho Funds held by Benvlicrary Shall not be sufficient to pay taxes, issessments, insurdnc e W01nanns'1110 ground reefs as fhev fah (1111.
<br />fruslur ,shall pay to lieneficrary arty amount necessary to make Up the iYehciency within thlrly ilitvs bUni 1171. (1,9111 oolwo o, '171,, 0 by
<br />krenntir.,rary to rrustor reque,fing paynrvnt thereol Upon paynivol m full of ill. In(lebh.Onet,s Hwiphc,dry ahali prol,?r,fly rr>hin,i ,
<br />1Yustjr any rwids, held by HoneNeuuy 11 the irwi( iroperty Is sold uncior Nua i>owpr of ;ran. iu fill, lrrni n:(,r,rrtt „thrntiisr .a (lu,i,•u
<br />by I)eneGcrary' , Baneh( wry ;1,111 apply ,mint hatilly priuf to Nro vile of flit "t1i "I 1',ulil : rl .:r ,f., if
<br />tight by thr• rime of ilpplit"ilinn a;, it rrPdit art arnxl It?(- InrltIl rod.un., i !i ,.,,h- . ( , . It -.?fa^ ,t.ti
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