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<br /> Deed of Tru�t
<br /> �BANKS � �
<br /> � �
<br /> TIfIS D'cED OF TRUSTls made thls�_day d_..—Mav , t8�._,bY and beM�aen Dona1 D. W ame , �
<br /> ��,�g� A Wi�i�ams. Hueband and W�� 68803r��w�� ���tnaitf►r ca�kxi the"7fusto�),�
<br /> whose ma�ung nddress!s 36 ���f° B i p. Grand I e l.e�►d_N.E
<br /> N��F��NK��gAGKA. NATIONEIL- AS•^�'S�ATION _ (herelnater cNled the"7Fusred7,whose mall�ng eddress Is
<br /> , 7alancl NE sndNORWESTBANK �S�`• NA'x'IOI3AL ,ASSACIATION ,(he►e),�efl6r
<br /> .�,, Th��_d. Greud �
<br /> calledthe"Bonelklary"),whosemalUnpeddressls 2�2 W Third Grand Island NE 68801 —•
<br /> WlTNESSETH:
<br /> IF Th115 BOX fS CHECKED�THtS DEED OF TRUSf'CONSTITUTCS A CONSTAUCTION SECURIIY AQREEMENT UNDEA 7HE NEBW ISNfi
<br /> CONSfRUCl/ON UEN ACT ANO CREAlESr�RANTS ANO CONSTITU7ES A CONSTRUCTION SECURIIY INTEREST!N THE PRAPERIY
<br /> DESCRIBED HfRElNBF.LOW. � �Q�•--_
<br /> WHERFJI�Trustor Is lndebted ro Benef/clary in the pr/nclpal aum o► ' MaY 22 , rs 96 .(heroJnefi�r
<br /> Dol/a�s fS��2,0QO•001.whlch lndetXedness!s evldenced by Austora pro D���ber e2 1996 . –
<br /> Celled the"No[e"),pByeble ro the ordo�a 8enelklary and having a metu�iry ol �
<br /> NOUV,TNEREFORE,for the pu►Aos�e d se�ud�9.
<br /> ta►navment d the Nok1 MBetl�ei►rdth lrrerest therean,/ate charges,preAeyment penalUes,arry Nture edvences end efl exfenslon�modYkadon�
<br /> � � substRuNons end renewals tl+ornol,
<br /> (b)peyment d a11 ofher aums�faos a charges,togeNiei wlth�nta�est thereon,aavenced ro prorecc u�a secudry a rms oeed a nusr end n�e perro+ma►ece
<br /> d the covenents a►�d agreernents d T►uslor,whether or not aet lwth hereln,
<br /> (Q1 Pe+formence�dlacherge d end compBance wlth eun+y term,cavenant obrYgaHon and egreement of Tlv�tor contained her�ln a lncorporated bY
<br /> reAer�rwe a e►y otlrer secu►iry lnswmertt et enyNme 9Me+i to secure the Note�end
<br /> �� q�e rnpaymeM d ell odror sums a future erlverM.es with lntorsst thereon,whkh mey hererotore hew been or hereaRe+'be ad►enceal ty Benefic�a�y!o
<br /> 7iustor or TrusMYS a��cces�o►In�F�tenrost a utle�
<br /> efl ol whlch f�horefnaRer oolfedMelY c�lbd the°lnde.�te` d^ess';Tiusror lnaroca6y grants++nd translers to itustee�!n wst W/TH POWER Of SALE.Uie
<br /> Iblbwlr�8 duc�lbed ProP�+tY:
<br /> Lot �hree (3). 131ock Two (2). Ponderoea Lake Eetates Third Subdiv:ls3on. aa addition to
<br /> the CiCy of Grand Island, Hall County� Nebraeka.
<br /> topatl�er wlth(i)all!wlld/nDs,sWCture�edditlons,eNe�pementa modXkatlons,►ePe►rs,replacernents�end 1n�xotirements naw a hereeho►bcuted thcreon,
<br /> (1�a1�equlprtfont,machMery and Hxtures(Including,w(N�out Ilm3edon,ell IlghNr�g.heatlng,trontlietlng.cooNng,ulr condltio►�k►9�sp►1nkNr►8 eu�d Pwmbk�n
<br /> Iixture�weter end P�SYstem�engtrtes�bo�►e►�ranpe�arena��'eaher�,m�rtora and muitel�oarpet�n9.fumeces�d!Dum�+�elevaWra end
<br /> mofors,rehfyernNon plaMa a oMt�Carrmunlcatlon systems dYnar►ws�dansfom�er.�elecnka/89ayxr►ent,stam end acrew►window�doors,ewnlnys and
<br /> wey Japp+Mena►M tlKx�etA 0�)���state,8 tuN�e+nd!n ere atTrustor 1�n a�i�d t e 11/ea�ses,r�now �e�dsdng or enterod�ta d
<br /> pncN�drny,wtthout Nmttatlor+,ex cesli and sacurity dePastt�aah�ence remels end d°P°s�ta a payments d a almllar naturo),pe+telntr►�U�e►eta�(v)al►rent�
<br /> ����p�y�y�nd/ncane tl�eretrom(sub/act ro the dyht d Tiustor ro collect and eppy auch rent�lssues,pro�Ra urd Income as they become drre and
<br /> �ydp1�gp f0/!y a9�p eNBl��pi Qerauii t�uiriy iividuTw���,1��j s!!r:.,w w;mr^srJ etl enci�pa rlahts arrd orolil�weter,weter rlght�snd wator sir�cck,(vi�eN
<br /> tenernents,l�ereditament�;P►h'�s and eppuAenancos helong�n9,used or er�ysd!n cor�necLbn tltereivlth�and NIl�9!1 P►rx.�eeds d corn�erslon.�cwntery
<br /> a��pyy,W eny o/tho Iormpoing Inro cash or Ilquldeted clelms pncluding,wRhout I!m(tetk�n,pra.�oeds ol lnsurance end condemnANon ewards),eU d
<br /> whkh/s hertdnarter coUect�wy ca►led the"rrust Pmpe+ty':
<br /> T�pppTECT THE SECURlTY OF THIS DEED OF TRUST,1RUS1l7R CWCNANT3 AND AOREES AS FOU.OWS: _
<br /> f. Tltle.Tiustor couenertt�waRe►+ts and agraes w(rh Bsnolklary,1ts successaa and assl9n�th3t 7Yusror owns the Tiust Proporty free from eny pdor llen
<br /> pr encumbrance lhet tlils Dend d 71ustls end w!!f remaln a vaBd end enforGeable/irst Oen on thu�Fust Prq�erty,thnf Tiusta,at Its oxponsa w!U
<br /> prese�vg rluch.•ifiu end wlll malrrteln thls I)eod d TFust as b flrst end psremount Ilen upor►the Trust Property end will fa�e+rer wanant and d�trd 1he
<br /> _ ve/ldjy and pNorly d the Ilen hereof egNnst the clslms ol ell pe►sons and pardes whomsoe+re►.Tiusb►,et 1te eupense,w!1!causo Nla�Deed d 7iust
<br /> - und eeCh amsndment a supplement hereb to be lifad and recaded es a moKgage d the 11ust Properry In such manne�and(n such p/aco and w!tl
<br /> take such ectlon ns!n the op/nfon ol Tiustea may 6o mqulred by erry Wesent or tuturo law In order to pe+tect malnteln and�rotect Hte Non of thls Deed
<br /> ��tust P trope�ry as m�y bn requl�oBenot/�rynT�usto hereby rel!qul�s al!dpht ol dower end�omosteadln end to tho�T st�{Qroperty,ts tltio fo
<br /> - 2, payment d fndobtodness.1lustror ahall punctualJy pay tho princlpr+l of snd Inrorost on the Indebtednoss secured herebys
<br /> a ConSWCtbn ol Irqprovement� ltusta shsll complefe!n good and wwlcmanlilce manner any 6u�lding�lmpro�+men e duepall costatlend'abllitlos!cn
<br /> ' may be begun on tlre Tast Properry a cartemplarod by tho loan civldonced by the IVote socurod hereby,ro psy
<br /> � lncurred therelore�and not to parmlt ary construcUon 1/on agalrtst such Tiust Property.In the e�rent conswcUon ol bullding�lmpnxroments or repalrs
<br /> er[+�ontemplatad,Ilustor a/so egree�anyth/ng!n th/s Doed ri!Tiust ro the contrary nWwUhstanding;(o)ro pmmpty commence ary such�rk end to
<br /> �mpg�the prpposed(mprov�ments prompty,(b)to Complete the same In accordance wlth tho plans end specNlcatlons as epprovad by BeneNclaqt
<br />_� (c)ro compy w1n►al�the terms ol e bWlding lom+agreenront If eny,beM�een Tiustor end Bonofklary,the terms oi wh�h aro lncorporatltd I�ereln by
<br /> - __,__.._.,.e.e,��,n r�e�w.��Y.m,,,ro lnsnoct the Tlust ProavrtY at sll tlmes durfng ConsuvcNon,and(u)to repleco eny Hrotk or
<br />�� ruiBrenciv mn.�7R..o a,.o.......�...,-,---•-••-
<br /> mateda/s unsatlsfectory ro Benotklary wlthin lrlfeon(f6)days elto►wntR�n notice from Bonoticlnry of such/act.
<br /> � �, Furtds lor Paymont of Charges.Sub/ect to eApllcnble law or ro a w�lttnn waMar by Beneticlary,ilusror shall pay fo Benelklery on fhe first day of t�ach
<br />_,� monfh,a such other date vach month as may be spocll'red by BenWklery,untll tha Indebtednoss Is pafd!n full,a sum(herefnaRer ca!]od the"Funds')
<br />,u� oqusl ro 1/12th ol tho yready taxos and essossments wh�h may attafn p�toriry ow3�thls De9d ol 7iust and ground rents on the Trust Propert};!f any,plus
<br /> 1/12th d the yoa►fj�Promium/nsfelimonts for hazard Insvrertce�plus t/t2th o/the yrosrfy pmRlum installmonta for mortgrtge fnsurnncq!I ary,all es
<br />�'� roasonaby ostimatod Mltfsly end Irom Bmo ro tfine by Boneficlary on the bas/s W essessmonts and 6Uls and roasoneGtn estfmafes theraot 1ha Funds
<br /> shall bo hold ln en lnstitutfon,the doposlts or accounts ol whlcA ere lnsu�d or guarentoad by e Iodorel or stnro aQency lnGuding Benetkfary.
<br /> Bonoliclsry shall nppy tho Funds to prry satd trixes,essossmonts,lnsurance prom(ums and ground ronts.Benepclary shall not bo requfrod to pay
<br /> pusfor arty(ntorest or oamfngs on the Funda BenMlcfary shall glvo to 1}usror,►vlthout chargc�an�nnuAl ncrounting of the Furtd.a ahowing credds artd
<br /> ' doblts to!he Funds end tho purpose R�r whlch oech deblt to tho Funds was mada TAo Funds eru pl�dgod es addillortal sacudry for tha Indc►btednoss
<br /> socurod by thls Dnod o/llust.11 the amount o1 the Fund9 hatd by Bonotklary,roguthor wlth the luturo monthty Instrtllmont8 0l Funds prryabb pdor ro
<br /> `' fhe due daMS d tnuos,assossments,lnsurance promlum5 Qnd pround ront�shull excerrU tho nmount roqulrod to pay sald taxos,assessmnnts,
<br />'� lnsuranco pr�mlums end ground ronta as U►oy fall duo,such oxr.�oss shall bo,at lfustor's optfon,either prompty ropald to T�usror or credirod to i►usror
<br /> °
<br /> Nc�a�m h+ro ru•oaazo»e�
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