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<br /> by ths T�uw+wimaut u►1►iudkia�prae�dtn�.Trustor reprasnts and war►aMs that this acknowled�rt�M was ax�cubd Oy ,
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<br /> AEdR� 1C Yni� .
<br /> ,- - ' pEED QF TAUST WITH FUTURE ADYANCES .'. . . . _ �
<br /> - T1itS DEED QF TRUST,is[nade a�s of the i� day of LOr. ,18�bY an0 amon� .
<br /> � ths Trustioi: Sob» lfcder�o�t i OBHR#t liCDE�GT't . �arri�d p�rsoirt� - - - ;
<br /> -:` - P O 9at 1�3 � Grand I�lsnd � IGe 688i2-4173
<br /> `° yrho�e inail;n�aQdress is (herein'Trustor;wheMer one or more}.
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<br /> .�j. the Trusbs� PitrE Poit►ts B�uk: a �bsash CorporatioA .
<br />- _ whoss mslin�aQdrees is P.0. Hox iS�7 Grand Islutd. IIB C�H84Z . (t+eretn"Truste�"�.and. ._
<br />��� ths Ba�eficisry. Piw Pointa Bank *.
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<br /> . whcas mailins addr�s is P.0. 8as iSi7 6rand I�lsad. 115. 688�2-isi7 . ''meieln"iejber?.
<br /> ;.,.,.:
<br /> oba;:�adnrnl4��;:�:
<br /> - " �;; FOR VAWABLE CONSIDERATtON,lncluding tsnder a extension o1 credtt identified herein'� , , -
<br /> .,. , , ;.,
<br /> - i DEHiG K 11CDERIIOTT tfierein"8o►rower".rrmether une or more)and-lha"tiugt herein created. _ :�
<br /> _ the receipt oi which ia hereby acknowtedged,Trustor hereby irrevocabty grants,hensiera,cbnveyla�and assighs to Trustee,IM r_:
<br /> TRUST,WITNPOWEROFSAIE,torlhebenefitandsecuritYcfLertder.underand$ubjectwthetemnsandcun�iRianshereinafterset =
<br />_ .r' Mrth.the��r�e�e�l p�operty��d�eacribed as foltowr.
<br /> ��.� THE �ORTe FOitTY 1INB FBET OF LOf F1YB Ill 81AC1[ 0lI�HU1�DHR� AND A'M�1['F!t SYIt
<br /> ,� < � lI0ENI6 AIID MIEBES'S ADDITIOM TO Til� CITY OR tiRAND IS1.111ID:, HALL'C�1Ul[TY. 11�BRASK�
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<br /> � Tugather wRh ali buildings.improvemente,flxtures,streets,alleys.passagawaya easements;"!�9hta�Priv:�s and appurte-
<br /> � nanCes tacated thereon or in anywise�erfaining thereto.and the rents,issues and protits,revetsions and re�a:rders thereof,and
<br /> suCb personal propeRy that is attache�to the impravements so as to constitute a fixtu�e,inCludfng,but not limitad to,heating and
<br /> cooUnD equipmenX and togelher wlth thQ fiomestead or maNtai interests,if any,whict►interests are herehy released and waived:ail
<br /> �'� •`�' .� oi which,inctuding reptacements and additions thereto,is hereby declared to be a part of tha�eal estate secured by the Uen of thb
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<br /> Oeed ot Trust and ail oi the toregoing being reterred to harein as the"Pro
<br /> � a This Qeed o!Truat ahall secure(a)the peymen!ot the principal sum and Intgreaf evidenced by a pramissory nQte or creGit
<br /> ayr9Bmentdated Aoril 18th• 1992 ,having a maturity date of Aoril 10tb 1997 �,
<br /> F� . :
<br /> �'� � in the orlginel principetl amount of S 15.�.80 ,and any and atl moditication9,extensions and renewais
<br /> . thereot or thereto and 8ny and 811 tuture advanCes and readvances to 8orrowe:��r any ot them It more L:a.�s.ane)hereunde►
<br /> � pursuant to one or more promissery notes or credit agreements(herein catted"h��';:(b)the payment of othe�S:�s a�vanCed by
<br /> - Lender to proteot the aecurity ot the Note;(c)the peAormance oi all covenants anQ 4y eementa of Trustor set fcrL's tserein:a�C(d)atl
<br /> . preaent and future indebtedness and obtigation9 ot Borrawer(or any oi them i}mpre than one;'a l.enCer whether direot,inCirecL
<br /> � f� absolute or contiapen!and whether ariaing by note,gua�anty,overdratt o►otherwi9e.Yhe No:s.ty�s IIeed of Trust and any and all
<br /> � qther docuents that sACU�etfte NotA ot Qtherwisg executed in connection therewith,inctuding w�.nout limitation guarantees,aecurity
<br /> -., �, 8greemeMa and aselgllrtienta olleee0s and rents,shall b9 reterred to herein as the"Loan Instrumants".
<br /> � ' �s,,,:`'. Trustor eovenante and agreee.wltK�ender as tottows:
<br /> �Y�ti;.,�.�;�* 1, pa�m�nt p1 ind�bNd'fIN�:All�:rQebtedrtess secured hereby shalt be paid when due• _
<br /> - •• t•�•� 2 Tid�Trustor is!he ownet of ine Property,has the right and authority to convey the Property,and wa�ranis that the lien �
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<br /> • created fiereby is a tirst and prior 11en on the Property,except tor I�ens and encumbrances set forth by Trustor in writing and ,
<br /> �.?=' •� ' detivereQtOlender beto�e execuUon ot this Oeed of TrusL and the execution and delivery ot th�s Deed of Trust does not viotafe any
<br />' -^— u �`'�=• �'�'�'� contleCt or other ObNpatlon to which Trustor is subject. -
<br /> z` -� • 3. TaxH,Ass�MrtNnb•To pay belore detlnquency a11 taxes,sDecial assessments and a�l other charges a�ainstlhe PropeRy _.
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<br /> � "'�'•c,�•:::.. now Of hereafter levled.
<br /> � r"`'':�''``��� � 4.tewranc�.To keep the Prope�ty lnsured against damage by'.:re.hazar ds inc lu de d w i t h i n t h e t e r m"e x t e n d e d c o v e r a g e",a n d .
<br /> `'�`' `�'''j'`"'� euch ofher hazarda as Lender may rgqulre,in gmounts and with c�mpanies acceptabte to Ler.rlc.naming Lende�as�n add�tfonal �
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<br /> `��•���'�f-}"`-. :. ._ named insured,with loss payabte tottte Lender.In ease of loss u^d°_>such policies,the LenCe�t3 authodzed to adJus?c�ltect and
<br /> ' '�z;:,�„�,;,�' . cempromise.aticlaimathereunderandshallhavetheoptinnotapp�y�ngatlorpartottheinsu►ary.:�r�oeeQs{�ptoany�nCebtedness
<br /> aecured hereby and in Such or�er as Lender may dete►mir.e.�:�t:a tne Trustor to be used for tr.e��:j`Ct tBS2fl�3t'tC(i otlhe P►OpeAy
<br /> �'.,;7,.�;,;_.;;:,i' ar pli)for any ofher purpase ar ob;ect satlstactory to Lender w.tf:o:�t aitecting the lien of ihis Oee�a`Trustfcr t?�e tull amount secured
<br /> :,=�•��t�r- hereby betore auch peymeM ever toak place.Any appiication oi proceeds to indebtedness st�afi not extend or postpone the due
<br /> �� ����!����'�` �� dafe of a�ty p8yment�under the No�?or cure any detault thereunder or hereunder.
<br /> � �"' '��+��� _ � 5. Escrow Upon weitten demand by Lender.Truator ahall pay to Lende�,ln such manner as Lender may designate,sufticient
<br /> °•��-'•�����-• -� aumatoenebte Lendef r�pay ga they become due one or more ot the foliowing:(i)all taxes,assessments and other charges against
<br /> . _._. � the Praperiy,(ii)th�:re:niums on the property insurance required hereunder,and(iii)the premlums on any moKgage insurance
<br /> . ' require0 by Lender. �
<br /> 6,.YainNnane�,R�in and Compitano�with Laws.Trustor shatl keep the Property in good condition and repair;shall
<br /> • ; � � prorrpw'�r tqpair, ot reptace any lmprcvement which may be damaged a� desUoyed:shail not commit or permit any waste or
<br /> '. dEtedC�nn of the Property;shall not remove,demolish or substantiatly atter any of the improvements on the Property;ahall not
<br /> � ' cor�.irsysutter or pBrrnitany aclto 6edone in a�upon the Propery in viotation ol any taw,ordinance.o�regutation;and sha11 pay and
<br /> � prorr,�i Ci�charge at Truator's cost and expense ail tieru,eneumbrances and charges tevied,tmposed or assessed agalnst the :
<br /> •�., _ � • prope�t►j a�any pert thereof.
<br /> -_,__-_-._ ----___ #..�E_��,E�F������$t!r.ompenssltan.awards.dama�es and other paymenta or rebet fhereinakee
<br /> "ProceeQ!'7 in eonnecttan with condemnation or othertaking otthe Preperty or partthereof,or far conveyance in Ueu of condemna-
<br /> ' "" • � Uon Lender ahatf be enUUed at its option to cammence,appear in and prosecute in its own name any action or prnceeding9,and
<br />• . ' SheilBiso 6e enUtled to make any compromis0 or setUement in connection wlth such taking or damage.In!he event any portlon o1
<br /> � .' • . - , _ �i�iaai���.r+w�aa.�e.,��mes _
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<br /> � . 'OtlNN.aawe�ntdeannwutrur�nesawro���naataNe.a�.
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