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<br /> - ;,;.... . � , T - -" Deed of Trust �
<br /> �� :. ° .. �,'"'►� 92— �O�.�o
<br /> , o�� TH S pEE F'IpUSTJ mede th�s dn y�g f 8�.,by and befween K. Michael Oliver ,
<br /> ,. _ � - an� ChrQa� R. Ol�ver Hus an and w��� whether onn o1r�or , (herolnaRer callod tlw"Trustor"). �--- -- -
<br /> ` - whose mN!!n g addre la W. Brentwood Blvd.. GrA^� �°�A^�- Nebreska ��l�0� , _ __
<br /> NpA W ST BqNK a +� 8 ' ' � (herelnaRe►called fhe"Tivatee"),whose marlmp addre�c/a ��--
<br /> Z03 �. Thir , ran a an . , ,an OAWESTBANK herefneRer
<br /> _ .. _ . � � oWhd tho"BomHclary'1,who�mWlinp addrese Is ��2 . Third S t reet ran � --� ----A^-
<br /> � WITNESSETH:
<br /> � " IF THIS BOX IS CHECKED/ X /THIS DEED OF TRUST CONST/TUTES A CONSTRUCTION
<br />° � ' . r S�CURITY AOREEMElYT UNDER THE NEBRASKA CONSTRUCT/ON UEN ACT ANO CREATES,
<br /> •�� ' � „ ORANTS AND CONSTITUlES A CONSTRI/CT/QN SECURITY INTEREST IN THE PROPERTY
<br /> •• DESCAIBED HEREINBELOW.
<br /> . ' WHERfJIS Tivatorls lndebted to BeneNclary 1n the princlpal sum ol ONE HUNDRED EIGHTY FI�►E THOUSAND AND NO/100 --- ��•
<br /> . , .. ].8�5.000.00 M 12 , 19�. (heielnelter
<br /> Dollals(t ),whlch lndebtedness!s evidenced by Trustoi s promissory note dated �i' - -
<br /> ��.';�,`:'� • called�ha"Note'),payable to rhe ader of BeneNc/ery and haWnq a maturJry o/NQVember 10 ,1�q? • _ _ _
<br /> , : . NOW,THEREFOAE,lor the purpose o�secur/ng: !�"� ��
<br /> • (a) peyment o!the Note,together with lnterest thereon,lete charpes,prepayment penafNes,eny luture advance�,and all extenslons,
<br /> ' modlflaatlans,subsHfuHons and renewels fhereo/, -
<br /> � , (b) payment of all other aums,lees or charges,together with lnterest thereon,advenced fo protect the secunty ol Ih/s Deed aI Truat end ---
<br /> the perlormance of the covonants an�agreements ol Tiusfa,whether or not set foAh hereln,
<br /> !c) peAormance,dlscharge o/end compqence with every term,covenant,obllpation and agreement ol Tiustor contalned hareU or ������_: -
<br /> � ' lnco�porated by relerence o�any other secuAty Inshument at anytlme given to secure the Nofe,and �
<br /> (d) the repayment o/all othe►sums or lu�ure advances,wJth lnterest thereon,whlch may heretolore have been a heiealtw bv Advanced � * ___
<br /> , by Benehclary fo Trustoroi Trustor's successorin Interest o�BUe,
<br /> all of whlch!s hereinafler collecdvely called fhe"Indobtedneas". Truata lnovocaWy p►ents and bansfers to Tiustee,!n bust,W/TN POWER "
<br /> .�:
<br /> „ OF SAlE,the lollowing descrlbed prope►ty: � -
<br /> `�;'_
<br /> - .-:�_°i;;d,:
<br /> • Lot Ten (10). in Block One (1)� Ponderoea Lake Eatates Sabdivision, , �
<br /> in the City of Graad Island, Hall County� Nebraska �
<br /> J
<br /> together wUh(I)all bulldings,shuatures,addltlons,enlargements,modlBcatlons,repairs.replecements,and lmprovements now a horealter , '�;�.,
<br /> . -—-._c--= :
<br /> - locatetl d►ereon,(i�)all equipment,machinery and fixtures(including,without limitetiun,eh liphtln�,haaiing,ventilatlrrg,coalMg, aU � - - - - ,- -
<br /> ,. condltloning,sprinkling and plumbing lixtuies,weter and power systems,engines,bollers,ranges,ovens,dlshwashers,mirrors end mantels, �
<br /> carpedng,/umaces,oll bumers,elevatas and motors,reingeratlon pfants a unifs,communlcaflon systems, dynamos,hans/orrners,elecMca! �
<br /> equlpment,storm and screen windowa,doors,awnings and shades)now a herealter afteched to,a bulR Jn,eny bullding orlmprovement �
<br /> � � now or herea/ter located�hereon,(!I!)all easements and rights ol wey appuRenant fhereto,(!v),all leasehofd estate,right,fitle end inte�est o/ •
<br /> �� � Tiustor!n end to all leases,whefhe►now or hereafter exlstlng a entered lnto(lnclud/ng,wlthout limitadon,a//cash and secudy deposlls, .. ' 1�
<br /> ' advence rentels and deposlts a payments o/a slmller neture),pertelning thereto,(v)all rents,issues,proHts and lncome therefiom (subJect � ?� ,�,
<br /> to the dght ol Tiustor to collect and epply such rents,lssues,prolils and lncome as they become d�e and payable so long es no event o/ �
<br /> delault exlsts hereunder),(v!)all ioyaltles,minerel,oil and gas rlghls and proNts,water,water Nghts,and weter stxk,(v!!)all te�emenls, �.� ���
<br /> � heredltaments,privNeges and appurtenances belonging,used or en�oyed m connection therewifh,and(viil►all proceeds o/conversion, t•, � •! �
<br /> . voluntary or lnvoluntery,ol eny ol the/oregoing lnto cash or Ilquldated clalms(Jncluding, without Ilmltatlon,proceeds o/Jnsurence end '.,. . • :�;v.
<br /> condemnaGon awards),all of wh/ch 7s herelnaNer collectively called the"Trust Pmperty". - �--._
<br /> • TO PAOTECT THE SECURITY OF THIS DEEC1 OF TRUST, TRUSTOR COVENANTS AND AOREES AS FOLLOWS: f '`.�
<br /> 1. TlNe.Tiustor covenants,wananfs and agrees with Benellc/ary,Its successors and assigns,fhat Tiustor owns the Trusf Pioperry Iree � �-'�=�--•
<br /> /rom any prlor Ilen o►encumbrance,fhat thls Deed ol Tiusf Is end will remain a va!!d and enlorceeble J!►st/ien on the TNSi Properry, � • ,t;;�,'z,;
<br /> that Tiustor,af!ts expense,wl11 preserve such tlGe and w!I/malnteln fhls Daed o!Trust as a lirst and paramount llen upors the 7rust �.�-._
<br /> , Properry end wlll/oreve�warrant and de%nd fhe valid�ty and prioriry o/the lien hereol agalnst lhe claims o�all persons and pardes �`'`-}.=`�...
<br /> whomsoever.Trustor,af!ts axpense,w/ll cause fhis Deed ol Trust,and each amendment or suppfement hereto,lo be liled and ��, :��.;�
<br /> recorded as a mort�ege o/fhe Tiust Property in such manner and in such p/ece and will fake such action as in fhe opin�on ol Tiuslee �;r,�
<br /> . mey be requlred by any present or luture law in order to peAect,malntaln and protect the Ilen of this Deed ol Tiust,as fhe sarne may '
<br /> � be amended or supplemenfed/rom time to tlme. Tiustor will make such lurther asswance or assu►ances to per/ect its 6tle fo the Trusf
<br /> Property as may be requlied by Benellciary. Tiusto►hereby relinquishes all r/ght ol dower and homestead in snd to the 7iust Prope►ry. : •
<br /> 2. Paymenf oi Indebtedness. Tiusto►shall punclually pay the princlpal ol and Inferest on the/ndebtedness secured hereby. . � '
<br /> 3. Conshuctlon o!Improvemenfs.Trustor shall complete�n good end workmaMike menner any bwldings,nnp►ovements or repairs relatlng �
<br /> therefo whlch may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when
<br /> due all costs and Ilab!li6es incurred therelore,end not to permit any consf�uctlon l�en age�nst such Tiust Prope►ty.!n the event
<br /> const�uctlon o/bulld/ngs,fmprovements or repairs are confemplated, Trustor also agrees,anything rn�his Deed ol Trus[tothe contiary
<br /> nofwlfhstanding;(a)to prompNy commence any such work and to complefe fhe proposed�mprovements prompUy.(b)to complete fhe
<br /> same in ecco►danc�i with the plens and specilications as approved by Benel�c�ary,fc/to comply w�th all the terms ol a budding loan
<br /> ' agreement,il any.between Trusfor and Benelic�ary,the terms of wh�ch are incanoraced herein by�elerence and made a part hereof,
<br /> � (d)to allow BeneNciary to inspect the Trust Pioperry at all t�mes dunng construcnon,and(e)to replece any work or matenels .
<br />� unsatis/actory to Beneliciary w�thin liReen 1151 deys aRe►wntten nohce lrom Bene6aary ol such/act.
<br /> 4. Funds lw Pdymenf ol Charges. Sub�ect fo applicable law or ro a w.�tten wa�ver by 6enelrc�ary. Trusto�shall pay to BRnel���ary on the
<br /> � lirsf day of each month,or suCh ofher date each monfh as may be spec�f�ed by Benehc�ary,unh�the lndebtedness�s pa�d m lull,e sum
<br />� (hereinalter calfed fhe"Funds")equal to 1•12fh ol fhe yeaily texes and assessments wh�ch mt�y atta�n p►ionty over this Oeed ol TruSt
<br /> i and ground rents on tHe Trusf Properry.rf any.plus 1 12fh of the yearly premium�nsfallments lor hazard�nsurance.plus ! 12th o/the
<br /> yearly prsmium mstallments lor mo►lgage�nswance,d eny,a�l as reasonably eshmated in�hally and from hme to Gme by BenefiCiary on
<br /> the basis ol assessmenfs and bdls and rer�so+�able esGmates thereof The Funds shall be held�n an�nshtuhon, the deposits or
<br /> � accounts o/which are lns�red o►guaranteed by a ledera!or state�genc y�ncluding Benel�crary. Benef�aary shall apply the Funds�o
<br /> � pay sa(d texes,assessments.�nsurance premwms and ground rents.Senaf�c�ary shall not be reqwred to pay Trusto�any m1e►est o►
<br /> _a
<br /> 99m1►Igs On flle runOS.rlenei�c�ary s�a�i grve ro Trusror.w�mout citarge.an annue�nccuuniu�y oi iiin�uncib airOmiiy i,tcu�w`a..�
<br /> � debits to the Funds and fhe purpose for wh�ch each debrt to fhe Funds►vas made. The Funds ere pledged as addrt�onaf secunry lor
<br /> � fhe Indebtedness secured by this Deed ol Trusf.!l the amount ol tne Funcls held by Benel�ciary.together wdlt tne/uture rnonthly
<br /> � lnstallments of Funds payeble pnor to fhe due dates ol faxes,assessme�ts.�nsurance prem�ums and g�ound rents,sha!/exceed the
<br /> � amount reqwred to pay;a�d taxes.Assessmonts.msurance premwms and qround renf.s as fhey lall c1ue.�ucn err.ess shaN be.ef
<br /> Trustor's ophon,either promptty repaid to Trusto►or cred�led�o Trustor against lutwe monthly mstallments ol Funds It the amount o�
<br /> ( fhe Funds held by Benefiaary shall not be suH�aenf fo pay faxes,assessments,msurance prem�ums and qround�enfs as rhey lall due.
<br /> Trustor sh811 pay to BeneficrAry any amount necessary ro maKe up rne aef�ciency wdh�n(h�rl y udys lru�n U�r uair nui��a�a���a�ied'u� �
<br /> BeneliCiery to�ruslor requeshng paymenf thereol Upon paymen�m lull ol all Indeb�e�ness.Benet��rary shall promptly re•lund to
<br /> Trusfo►any Funds held by Benel�c�ary. ll fhe Irus�Property�s sold under fhe pvwer ol sale or fhe lrust PropertV�s ntherw�se aCqui�ed
<br /> by 9enelicrary, Benel�ciary shall apply, immed�afely pnor to fhe sal�o/tNd Trus►P�operry o�+ts�+cqu�s�tion by Benel�c�a►y.any Funds
<br /> held by Benehaary�f fhe time ol app6cahon as a Crddrt t�gamsf�he Mdebfednds5 II Berrehc�ary eaecu�es t�w+rttPn W�iivBi ot Trusfor s
<br /> obligahons under th�s paragraph 4, Trustor covenunts dnd ag►ees to pdy.be/oie the same becwne�e6nque��t all ta�es. assassmen�s,
<br /> Ni'�. 'w�.�- .Mrh.n����.•l .
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