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<br /> � ~ Daed of Trust �"���T� .y
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<br /> . ° `�` ^ � ' TH�g pEED OF T UST!s mede thls_13t�dayol ����r ,19.._9.2,by end between Reed and Reed. Inc.. ,
<br /> T � �p•• ° A Nibraoka�o oorak�on --whelher a►e a more, (herelnalter called the"Tiusta'), �
<br /> � �."'`��'' .. ��' whose melllnp addiessis
<br /> ;�,•.� . � uonosavs ,+•T*�.,•* eeenrT eTSnu _ hB191118RBI Ce11Bd lh6"Tivafee"),whose mWling addieas ls
<br /> �•� � NOAW�STBANK�
<br /> - ----- ----•- "_ . ••aTtnt�ar_ ecc.,n�TeTmu ,(herelnalter � - - --
<br /> o� " �+� Sox 1768�5�,., NF 6RAA9 dNOAWESTBANK.rI -
<br /> � _, •1' NR (188�2
<br /> � , •. adlod fha��B�nsliclary'),whose mWdn�eddrosa la�'� Box 1768, Grand I�lamd. - •
<br /> �,. .�..
<br /> , ���4: W/TNESSETH:
<br /> - �:` IF THIS 60X IS CHECKED(XX I THIS DEED Of TRUST CONSTITUTES A CONSTRUCTlON
<br />.__=_•'� ( . ^ SECURIIY AOREEMENT UNDER THE NEBRASKA CONSTAUCTION LIEN ACT ANACREATES, —
<br /> QAANTS AND CONSTITUTES A CONSTRUCT/ON SECUAITY INTEREST!N THE PROPERTY
<br /> a �• `� � ' DESCRIBED HEAEINBELOW. �°T
<br /> ..�— �k� WHEREAS Tiustor Js Indebted to Benellcleryln the principal aum ol, �� FTC►F THAIISAND a� NO/100---------------
<br /> --� ,��':� ° Dollers(t 2�-000.,)�0 ) whlch lndebtedneas ls evldenced by Trustor's promissory note deted BsJ-_t 13 ,19_92..,(herelnaltor
<br /> --s; . ' tan�Arv 11 149� .
<br /> a ; �r� ' oaled the"Note'),payable ro the ader o J Bene l lclary an d ha v l n8 e m a tu d ry o f�s_-.—�
<br />`-�,�; .� . .: NOW,THEREFDAE,fo►the purpose ol securing:
<br />��;:� " � ' • (a) payment o/the Note,together wph interesf thoreon,lata char�es,prepayment penaldes,eny luture advances,and a//extenalons,
<br /> .��4_ modllkadona,substlfuNons and renewals Ihereol,
<br />.,-�_ �� : � �� � (b) payment o!all otl�er sums,/ees or charges,together w11AMlerest thereon,advanced to protect the securlry ol thls Deed o/Tiust end }�r_: _—
<br /> � �•••• , the perlormence of the covenants and agreements o/Trusfor,whether or not set/oAh hereln, .�-
<br />•-'t � � �� - � (c) perforrriartco,dlscharge of and compNance wlth every tenn,mvennnt,obligatlon and agreementol TiustacoMalned hereln a _ __ _
<br /> � , •• lncorporated by re%rence or eny other securitylnstrument at anyHme glven to secure the Note,and
<br /> � " ' (d) the repayment ot sll other sums or/ulure advances,wlthlnterest thereon,whlch may herefo%re have been or heiealter be edvanaod :�-•---
<br /> ".,. by BeneBclary to Tiusfor or Tiustor's successor!n lnterest or dUe, '��
<br /> - . ' all ol whlah!s herelnaRer colleotively called the"Indebtednesa", Trustw Inevocebly pranls end hanslen to Tiustee,!n Irust,WITH POWER �•-- �'
<br /> � _ ,,. ��, OF SALE,the folfowinq descrlbed p►operty: �"''
<br /> ,-, �, - ' � Lot Thirty-seven (37) in Le Heighta Fourth Subdivieion� in the city of Grand Island, `"``"-
<br /> U.. ° ' . Hall County. Nebraeka. ----
<br /> .. .y .�.��s=
<br /> � ' together wfth p)all bulldMgs,sbuctures,addlNons,enfaigements,modiNcatlons,repalrs,replecements,end Improvements now or hereaNer ��� �>�
<br /> • Ixated fhereon,(!!)afl equlpment,machlnery and/ixtures(Including,w/thout Ilmltallon,all llghting,headng,ventlleUng, cooling,alr .,:4,ri;,;-;":
<br /> - condldoning,spdnkling and plumbing fixtures,water and power aystems,englnes,bollers,ienges,ovens,dJshweshers,mirrors and mantels, ;
<br /> . cerpetlng,/umacea,oll bomers,elevators and mators,refdgerallon plents or units,communlcatlon systema,dynarnos, nanslormers,elechlcel �,��;._
<br /> .-. equlpment,s[orm and screen wlndows,doors,awn/ngs and shades)now or herealler anached ro, or bu!!t In,anybullding orlmprovement �-.
<br /> � now or herea/ler located thereon,(!!!)all easements and rights of way appurtenent fhereto,(!v),ell leasehold estate,right,flJle and lnterest o/ -";.,
<br /> :-� Tivatorin end to all leases,whether now or herealter exlstlng a entered lnto(lncluding,wlthout Ilmltadan,all cash and secudty deposUs, �'�^ _,��.;
<br /> advence rentals and deposlts or payments ol a s!mllar nature),pertalning therefo,(v)all rents,Issues,pro!!ts andlncome therelrom(sub/ect .r:;.�_,_" �
<br /> � • • to the rlght ol Trustor to collect and appty such rents,lssues,pro/!ts and lncome as they beaome due and payable so fang as no event ol . . . .� ::�
<br /> .`��, deleult exlsts hereunder),(vl)all royelfles,mineral,oll and ges dghts and prollts,weter,water dghts,and wate�stock,(vlp all tenements, . - ..,�
<br /> heredltaments,pdv(leges and appuRenances belonging,used or enjoyed Jn connectlon therewllh, and(vl11/al/proceeds o/converslon,
<br /> voluntery orinvoluntery,of any of fhe loregoing lnto cash or Ilquldated clalms(Incfuding,w(thout qmitation,proceeds o/lnsurance and •:: �-:��•-__
<br /> � " condemnaUon ewards),all of whlch/s herelnalte►collect/vely ca!/ed the"Trust PiopeRy". •. �• •-{:�-.
<br /> �„ TO PROTECT THE SECURITY OF THIS DEED OF TRtIST,TRUSTOR COVENANTS AND A(3REES AS FOLLOWS: :
<br /> 1. Tltle.Tiustor covenents,wenants and agrees wlth Benellclary,!ts successors and asslgns, that Tiustor owns the Trust Property iree �
<br /> ' lrom any p dor I len or encum br a n c e,t h a t t h l s D e e d o/T r u s t I s a n d w l l l r e m e l n a v a l l d a n d e n l o r c e a bl e lirsf llen on the Tiust Pro pe i f y, . _-,_
<br /> • � that Tiustor,at!ts expense,wlll preserve such t(Ue and wll/malntafn thls Deed o�Tiust as a lirst and peramount/!en upon the Tiust '.' �
<br /> .' Property end wl11 lorever warrant and defend the valldiry and priorlry o/the Ilen hereof agalnst the clalms of all persons and paR/es •_.:,,;K,� `='`�
<br /> " whomsoeve►. Trustor,at!ts expense,wlll cause thls Deed o/Trust,and each amendment or supp/ement he�ero, to be Hled and - _
<br /> � . recorded as e moRgage ol the Trust Properiyln such manner and in such p/ace and wlll teke such acdon as In the opinlon ot Tiustee � .P.,_
<br /> ' " may be requlred by any present or lut�re law!n order ro pedect,malntaln and protect the Ilen ol this Deed ol Trust,as the seme may -�:�L�.:+�
<br /> be amonded or supplemenled Irom tlme to tlme. Trusta w111 make such lurther assurance or assurences to peAect Us t(Ne to the Tiust •-�'�-:Y';';�
<br /> ' Properry as mey be requlred by Benellclary. Trustor hereby rellnqulshes all rlghf ol dowe►and homesteadln end to the T►ust Property. '••�•Y�;�°
<br /> ,, :..r.=;,_._
<br /> - 2. Payment ol Indebtedness.T►ustor shall punctually pey fhe pdncipal ol and(nterest on the Indebfedness secured heieby. `�-� _:_
<br /> � " 3. ConshucBon ol lmprovements. Trustor shall comp/ete in good and workmanllke manner any buildings,Improvemenls or repalrs re/ating :z=
<br /> •� thereto whlch may be begun on the Trust Property or conlemp/ated by the loan evidenced by the Note secuied hereby,to pay when ��"�
<br /> due all cosls and IlaDlllties Jncuned therelore,and not to permit eny conshucllon/len agalnst such Trus[Property.ln the event .
<br /> •� consfrucUon o!bulldfngs,lmprovements or repafrs are confemplated.Trustor also agrees,enything!n this Deed ol Tiust to the conhery ,
<br /> notwithstending;(a)to promptly commence any such work and to complete the proposed lmprovements promptly, (b)to complete the ;
<br /> r same!n accordance witt the plans and speclficat(ons as approved by Beneliclary,(c)to comply wlth all the terms o/a bullding/oan '
<br /> ,� egreement,il any,between Trustor and Beneliciery,the terms ol whkh are incorporated here►n by relerence and made a part hereol, �
<br /> (d)to allow Benellclary to Inspecf the Trust Pioperty at all t�mes during constructlon,and(e)to replace any work or materlals `
<br /> unsetlsleCtory to 8eneliclary wifh(n lilteen(15)days aRer wntten nofice Irom Beneliciary of such/act. .
<br /> 4. Funds lor Payment ol Cherges.Sub/ect to appl�cable law or to e wntten waiver by 8eneliciary. Trustor shall pay to Benell�rary on the .
<br /> /!►st day ol each monfh,or such other date each month as may be specilied by Benel�c�ary. until fhe Indebtedness is paid in lull,a sum .
<br /> � (he►elnalter called the"Funds")equaf(0 1 i 1Zfh o/fhe yeaiJy taxes and assessmenfs which may ada�n prlor/ty over thls Deed o/Trust
<br /> end ground►ents on the Trust Property,il any,plus 1.12fh of the yearly premium installments forhazard Insurance,plus 1%12th ol the
<br /> � • yearfy prem(um installmenfs lor mortgage lnsurance,il any,al!as reasonebly estimated initial►y and from time to time by Beneliclary on
<br /> K _.__._.__..__. the basis o/assessments and bills and►easonabfe eshmates thereol. The Funds shall be hefd in an insfitution,[he depos�ts or
<br /> ' _r.._.,a_.
<br /> , � accounts o/whlch ere insured or guaranteed by a redera►or srare agency�nciuding nenei�c�ary.oa��r71��a�y s��a;7 aNp�y P:.Q��������
<br /> � pey sald taxes,assessments,insuiance premiums and ground ren�s.Beneliciary shall nof be required to pay Trustor any interest or
<br /> � eam(ngs on the Funds.Benelic�ary shall give to Trustor,wrthout cha�ge,an annual accounting of the Funds showmg credits and
<br /> • deblts to the Funds and fhe purpose lor which each deb�t to the Funds was made.The Funds are plc►dged es add�bona►securiry lur
<br /> � the Indebtedness secured by this Deed of Trusf. !I the amount ol the Funds held by Beneliciary,togethe►with the luture monthly
<br /> � Installments ol Funds peyable pnor to the due dates o!taxes,essessments,rnsuranco prem�ums and ground rents, shall exceed the
<br /> � ATI11/11I fplrllllAll M f1A41 CAIl1/AYNS A.CCACSMNIHC IIICIIIAnrs+Ns+minMC Anri rlfAd/1/I/PItIC AR IhPV IRII 11UR RI/CII P.XCRSS SRAII b9.AI
<br /> � Trustor's opt(on,either promptly repaid to Trustor or credifed to Trustor against luture monthly�nstallments ol Funds.!I the amount o/
<br /> fhe Funds held by Beneliclary shall not 6e suH�cient to pay faxes,assessments,insurance premiums and ground rents as they lall due,
<br /> . Trustor Shell pay to Benelfciary any amount necessary fo make up fha del�clency within fhirty days from Ihe date notice is ma�led by
<br /> 6eneflclary fo Trustor requesting payment thereo/.Upon payment in tull o/alf lndebtedness.Benel�c�ary shall prompdy refund to
<br /> , Tiusto►any Funds held by Beneliciary. 11 the Trust Prope►7y is sold under the power ol sale or the Trust Property�s otherw�se acqurred
<br /> by Bene6clary,Beneliclary shall apply,Immedlately prior to�he sale of the Tiust Properry or ns acqwsition by Benehc�ary. any Funds
<br /> . hold by Boneliclary at the tlme ol applicA6on as a credrt agalnst the Indebtedness.116enelic�ary executes a written waiver ol7rusto►'s
<br /> ; • � obligations under thls paragraph 4, Trustor covenants and egrees to pay,belore th6 sc+me become del�nquent, oll taxes,assessments.
<br /> i ae�t�a�wra�x,�Neb�ss��U��N
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