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<br /> 9�_ 10��8� Deed of Trust
<br /> BANKS �
<br /> �
<br /> THIS OFED OF TRUST l9 made thls day ol Mav _ , iD._2.._,by ond bemeen REEA AND RE�D. 7NC,_, ��
<br /> n NP� p •or,,pore�iRat _ wheUKV one o�mor�(fierefnaltar calbd the"IFus(a'7, �_
<br /> whoasme�NnDeddreasls P A• Bo� 101�, Grand Inlsn ._xE_68802 ,
<br /> NORWE'3T 9ANK.r1EHRAS�, NATIONAL AG�SCIGLATION (herelnafer celled the"Trustee'),whose malling address ls
<br /> Z��j��j��� GranA Taland� NE ,and NaAWESTIiANK j�]EARARKA_ uATToNAL. AGSOCIAIION ,(herotnafler
<br /> callod the"BsneNclaryr�,whose melilnp eddressls 102 � Third 3t �rand Teland, NE 68801 .
<br /> WITNESSETH:
<br /> IF TH1S dOX/S CHECKED�ITH/S OFED OF TAUST CONSTITUTES A CONSTF1UCTfON SECURITY AOREEMEN7'UNDER THE NEBRASKA
<br /> CONS7RUCT/ON LlEN ACT AND CRFJITfS QF1AN75 AND CONSIITUTES A CONSfRUCT10N SECURlTY INTEREST IN 7H�PROPERTI'
<br /> DESCR/BED HERElNBELOW.
<br /> WHEREAS,Trustorls IndeAted ro HeneNclary!n rhe pdncipel sumW SI%TY,-THREE THOUSAND AND NO/100-----------�------
<br /> DoNers(S 63�0•00 ��whkh lndebtedt►ess 1s evldsnced by pustWe promissory rwte dated Mav 28 _, ts 96 �(herelneltvr
<br /> car,pd the^Note°),payeble ro the uder d Benerk/ary end having a matudry d September 10,1996 .
<br /> NOW,THEREFORE fw tho purpose oI secudrtg:
<br /> (e)peyment d the IJote,Mgsthar w1M Inrorest(he►eon,/ete charg9�prepeyment pe►►afNes�s►ry Ntura advenCes,and all extBnslorls�moddicaUons
<br /> substlhrNons and mnewa/s tliereof,
<br /> (b)peyment d all ofher aum�lees a charpe�togefher wMh Intaest thereon,aoYanced to protect[he securNy d fhls Deed d 7lust and the pe►lamanca
<br /> d the cownants and egreements of Trusto►,whethe►w not aat fath hereln,
<br /> (c1 pai�nnance�dlscherpe o/end Compll�nce with e�rery term.ca►�nent.obllgaUon and agreement o/Trusta contafrted horeln or Incorpomted by
<br /> r►�/erence a e►y ntl+er secudry lnsnumont at er�yflrne yAvn M aecu�e the Note,errd
<br /> (d)tlte repaymenf d all otl�er aum�a future advance� with lnte.est thereon,whlch mey hereMture haw boen w herealter be edvenced by Bert1MlClary to
<br /> ltustor a Tiusto�s successa In lnterest a Ndr�
<br /> y/a(wh/ch la herpinafter co1lecthNy caNeal the'YndebtetMxts9'; Tiustor Irrevocabty grant8 and translb�s M Tiustee�Irt trust Wl'!H POWER OF SALE,d►e
<br /> �bM�'��D�+�P�W�M
<br /> Lot Nine (9). Jeffrey Oa}�e thir.d Subdiviaion. in Che City uf Grand Island. Hall County�
<br /> N�braeka
<br /> pQev�n'w1�►(9+W bulldln9�sMxtures�addlNa�s�enler8ementa modXkeNats�mNe►�reMecements.and Irnpror�ments nav a hereafler loceled U►ereon,
<br /> (1�M squ�fxnen;machlnory end hktures(inchrdMg,wlfhout Ilmkstlm� eN NghNnp.heeNng,�rontllatlng,codin9,dr ea�diNo+dng,ap�lnb�h9�A+�►�A
<br /> flxfura�w�ter a�d powv�aystem�englne�bolle+s ianges arons,distnvashor�m/rtors end manrel�carpetinp,fumece�oJl bumerl elevetors end
<br /> rno(orA rohlQeretlon plente a unit�cammunkadon system�dynamos,ta+nsfamera,elecWcal equlprrrent,stemi and screen wkMc»v�cbors,awnings end
<br /> ehad�r�)naw a hsrmafls►etMChed tol a bulN In,ary buuding Impraement oslmprov�n+ent now a heroall�e►/ocaled tl�ereon,pl�un ea�rnenta and r�ghts d
<br /> wey ey)purtenant Cbrntq(A)sl!leeselrokl esfate,dgM,tlUe anH N:Niest d Trustorin end to aU Ioaseg whetlie�nav a hareefter eudsL�iey w en(erod ktro
<br /> (Inchxlhg,w/daut Nmk�tlon,eN ceah and secw(ry deposit�advanoe r�ntels end deposita a payments d a s/m7er naturs),pertalning 1t►erefa�(vJ all rent�
<br /> bsue�protits and h�coms UierolNrri(sul�lect to the ilght o/Iiustw N Cdlect and e/lpfy suCh rent�t Issue�ptofrr3 and InCOn�e es they become dus end
<br /> peyabls ao lonp es no eNenf d a�efeult exfsta hereunde+A(vi)all roy�Miest mineral,dl and gas NflMs erx//xWlts�xntte�wete►n'ghtg and water stocl.(v11)ell
<br /> bB►Ip!f1g/)t3 hBl6d1f�11/J!llt5,E11fV10Bj�ES Alld aJ)p(f!k)R8RC69 bB10 11 8 11 7 8,used or enJoynd!n connecNon U+erowkA,end(vliq a/l proceeds ot canre►slon,�roluMa►y
<br /> � or h�wlurnuys d any d the loreyong irrto casn a xquaama caumll�►cwomg.w�urout Nmrtatan,prot.�eeds a insuraxe and conderonaiion uwarriaj,e,li u�
<br /> ' wiNCh!a hereNialt�r coHecMrely called Me'Trust Property':
<br /> 70 PROTCCT THE SEiCURJ?Y OF THIS DEFD OF TAUST,TRUSIOR COVENANIS AND 14QREES AS FW.LOtiVS:
<br /> 1. tltla Trostor co+renent�wa�sants and aqrees wfth Benelklsry,�s suaessas and esslgn�thet Trusto►owna the Trust Properry fiee from eny pnbr llen
<br /> a encumbrence�that th(s Deed d Trust fs end wlll rcvnafn e ve6d end enforceabre�lrst Ilen on the 1lvst Property,that Trusto�st!ta expon3e,wiN
<br /> presenre suct�GNe and w(11 malniahi thls Deed ol Tiust es e/irst and peramount Oen upon the Trust Properry snd wlll forev�r wertant and deMnd tho
<br /> veNWty end prioriry d the iren herooP egeinsl fhe c/alms d tell pasons end pa�tles whomsoevec Tiustor,et As expense�will ceuse th/s Dovd d Tiust
<br /> and eecl�amendmB+rt a supdement he�elq to be filed em1 roCaded t+s a mortgsga d the Tiust Prope�ty In such menrter and!n such place and wlll
<br /> feke auch ectbn es!n tha ophk•n d Trustee msy be mquNnd Dy eny prr�sent or future lew/n ader to perf6ct,malnte/n end{xotect Ute Ibn of fhls Deed
<br /> ol Tiust as the same mey be emended or suppJement�d from 6mo ro Hma Tiustor wlll make such fuAher auurance a essumnces ro pe,fect!ta d«e fo
<br /> the Tiust Properry es may be rez�u!rod by Banefkfary. 7ivsror J,ereby rollnqulshes el►rlght o►dower ard homest�ad fn and to tho 71ust Propci�ry.
<br /> 2.Poyment of IndetKadness Trustor shall punctualy pay the prfiidpal d and Interest on tho Inabbtodness secured hero5y.
<br /> 3t ConsWction ol lmprnvementa Tiustor ahnll complete!r��Cwd end Krorkmenlilro mannnr ary bund/ng�lmprowmonts or repalrs rtlaNng therefo whkh
<br /> • may Ae beQun on U�e Trust PropeAy w contempla(ed by the Joen evldenCed by the Note secured here6st to pay when duo ell costs And Jlabll'itle9
<br /> Incurred tlrerePore,and not to parmlt any conshucNon llen egaMSt such in�at Property.!n the eHent constn�ctlon ol buiWing�Improv�ements a rtrpalra
<br /> are contemp/ated,Tfvsror e/so egrees,enythlnQ!n th/s Oeed of Trust ro fhe conbary notwithstand/ng;(a)to prompiy commence any such wnrk snd to
<br /> complete the proposod lmprvwmenls pmmpty,(b)fo complete fhe aame In accordance wlth tha p/ans and apoclNcstbns es sppro+red by BoneNclary,
<br /> (c)to compy wJdr eH lhe te�ms d e bulkling loart egreement,tl erry,bofe�reen 7lusta and fieneBclary,fhe terms ol whkh ara fncorporafed homin Ay
<br /> refercinnce und made s pe►t hereal,(d)to allow Bonellc/ary to lnspect the Tiust Prope►ry at al!fimes during construction,end(eJ to replace eny wak or
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<br /> . _�_._�..__yy��..�'__ .''�
<br /> � rrraammra vrwauawavq rv asa.�v..umr�e.m.n.u.awe.�.�w�orv. m�.v..........�.._....-�._.._._� _'-'-..._"-
<br /> 4. Funds for�ymdnt ol Charges Sub(ect to epplkabb!aw or tci e wdtten wahror by Bonopc/ury,Trustor shali pay to Boneliclary on the llrst day ol euch
<br /> month,or such otAor daro Qach month as mny bo apocfflod byBoncllcla�yS untl!tho fndobtddnoss ts pnld In Iu11,a sum(herolnaRar callsd Nro"Funds')
<br /> equal to 1/i2th o/the yrearly tanes artd assossme�its whlch mry c+ttaln pr/onry over th/s Oeod ot 7/vst and ground rents on tho Tiust Property;ll erry;p/ua
<br /> 1/12Ui o/the yrearly premlum Insisllmonts for hazarH lnswarra�4 plus 1/72th ol[ho yrosrty premlum instalhnents ta mortgago(nsuranco,H ury,n!1 as
<br /> roesoneby estimetedlnlftslly end from tlme to tlmp by Bonvfldery on the bss/s ol assessmenfs And bllls ruid roasonab/e ostitnatos thorsol. fio funds
<br /> ahaff bo held In an lnatituUun,U►o doryos(fs or nccounts of whlc�aro Insurod or guarflnteed Dy a fvderel or slaro agency lnciuding Eenoliclary. _
<br /> Be�telk/ary aha/t eppy the Funds ro puy snld texe�ossessnsenl� lnsurance premlums and ground ronts Bene�liclury ohall not be roquimd ro pay
<br /> Trustor erylnl.on�sf or oaming9 on Ms FundS Beno1lc!$ry ahallglvs M Tiusro�wlthout Che►L7e,an ennual aCCOUnting o/fho Funds shawing crod/ts and
<br /> debtts to fhe Funds and fhe purpuse for whlch esch deblt ro Iho Funds was mado. Tho Funds are plodged es addltlonaf securlry for(he fnrkbtednoss
<br /> socurad by thls O�wd of Tntst 1l tho emount o1 the Funds held b/Benellclury,rogethor with tho futuro monNly InstaUmonts ol Funds payable prlor ro
<br /> tho duo datus o!taxe�ussossments,Insurance pmmlums and ground rentst shall eA�cead tho emounr roquirad ro pay satd taxe�assessnx�nfs,
<br /> Insurenco pro�n/urns end ground ronts as thry lQll due,such on;oss ahall be�at Tiustor's optbn,olthe►promptJy repaid ro Trustor or cmdltad ro Trustor
<br /> Y
<br /> Nc+aio�F�rn�n•a3•rso�ro�
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