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<br /> � � �� Deed of Trust �°"-
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<br /> + �e�wKS . __-
<br /> � � � --
<br /> Febr ar 19 9 __.byandbehveen REED AND RLED,_INC.
<br /> THlS DEEp Of TRUST(s made th�s 1___day at__--u--X-----�
<br /> � __whethe�one o�more,(hereinafter called the "Busta'1. � ��
<br /> ' � A NebrasY.a Cor�oration____.__—_ E 68802 _ -- —�
<br /> whosemallingaddressis Ps�• BOX 1015�.Grand Iala�d. N _ �
<br /> I NOAWEST BANK ��_����p!-TIONA�ASSOCIA�.ION (herelnafer calied the•'7lvstee'),whose mailing address�s � ��:
<br /> , 202 West T�ird St� GrAnd Island, �}'pdNORWEST6ANK I�LEBRASItQ� N�,TIOI�L ASSOCIATIOI�_.(herelnaner
<br /> � � calledthe "8eneflclary'),whosemal�Ingadd�essls ��3�iea�Thi�'�-$�reet�.Grand. I$land, I�LE _ 68802 1
<br /> WITNESSETH:
<br /> { IF THIS BOX IS CHECKEO �TNIS DEEO OF TRUST CONSTITUTES A CONSTRUCTION SECURllY AGREEMENT UNDER THE NEBRASKA
<br /> � 1 CONSTRUClION LIF.N ACT AND CREATES, GRANTS AND CONSTITUTES A CONSTRUCTlON SECURITY INTEREST IN THE PROPER7Y _
<br /> OESCRI9EDNEREINBELOW. SEVENTY THOUSAND AND NO/100--�°- �-----_-""
<br /> 1I WHEREAS,TYusror!s Indebted tc�Bene/lclary In the p�incipaf sum ol • :
<br /> � I pollars(S �0.000.00 �,whlch Indebtedness!s evldenced by Tiusror's promissay note dated�ebX+�nrv LO , 19�_.(herainelfer �
<br /> called the "Note'),peyable to the onler ol Beneficiary and heving a matudry o�AS3Sus t.�Q-. -��.�-- "'�
<br /> � NOW,THfREFORE,lor the purpo�g o/secudng:
<br /> i (a)peymenf o/Ihe Note,toyether w(th Inrerest thereon,late charges,p�epeyment pRnaldes,eny luture edvences,and all extensfons,modiiicatlons, ����
<br /> aubstlNHons and renewals thereo/, ' �+
<br /> .; 'I 4 lq._�
<br /> - - (b)payment of eu otha�su�i�s,fm,s or th,ar�t� lenether s:�iLh!nt�+sr mwmnq Advanced ro protect the seCUdry o/thls Deed ol Tiust snd the pedormPnce _
<br /> T
<br /> ' d fhe carenants and agresments ot Tiusto� wheMe►or not sel lorth hereln, -:.�.'�^;, :�"`��••
<br /> i,4,dr•'
<br /> . � ' (c)performance�discharge ol and compllence wllh every rerm,carenant,obllgatloo and agreement o!liustor contalned heroln or lncorpo+ated by •s ��i L
<br /> re/erence a any othe►secwlry InsWment ei anytlme glven to secure the Note,and � 'a�,
<br /> + (d) fhe repeyment of ell other sums or►ufuro edvences, with Inferest thereon, which may heretolore have been a herentfer be advanced by Benelklary ro .r'�
<br /> 1Yusta or 7iustor's suCCessor In lnterest or dtle, i�`"-
<br /> all ol which b herelnafter cof/ecthrey cafled the"Indebtedness';7iustorlrrevocabty granta and trans�ers to Tiustee,In t�ust,V�ITH POWER OF SALE,the
<br /> l: ;�
<br /> fipllowing deu�Ibed prope►ty: �.•��
<br /> � Lot Twenty-Two (22), Jeffrey Oaks Fifth Subdiviaion, in the city of Grand Ialand, I�all ..,
<br /> ' County, Nebraska .�'� _
<br /> together wNh(!)ell bulldings,sductures,additlons,enlargements.madd�catlons,repairs,replecements,and improvements now or ht�realter foCafed Ihereon,
<br /> .�Q�——
<br /> (!1)all equfpment,machlnery end flxtures(lncluding,wllhout limltatlon.ell!l�hNng,heating,venNlating,Cooling,alr condidoning,sprinkling and plumbing _.
<br /> Bxtures, wate�and power systems,englnes,bol7er�rnnges,ov+ens,dlshwashers,mhrors and mantels,carpeting,lumaces,olf bumers,elevetors and __
<br /> motor�iel�lgeratlon plants or units,communlcaNOn systems,dynamos.transformer�elechlcal eqWpment,storm and screen wlndow�doors,ewnNQs end ��
<br /> „ � shades)nav or hereafter attached to,or bullt fn,a►y bullding lmprcxrement or lmpraement nav oi hereafter localed thereon,(!!!)a�l easements end dghfs o/ _ -
<br /> wey appurtenant thereto,(iv)all/easehold esrste,nght,dtle and lnte�est o►Tiustor In and ro all leases,whether now or hereafter exlsdng or ente►ed lnto
<br /> � ?� (lncluding,wRhour limlta8on,all cash and secudry depos�ts,advance rentals end depos(ts or payments ot a slmllar nature),perta�n(ng thareta(v)ed renrs,
<br /> ;��'-^
<br /> • Issues,prolils end Income therelrom(sub�ect ro the�lghf o�Lusror to col/ect and eppfy such rents.lssues,prolRs and Income es they become due and •
<br /> payrgble so bng as no event of de%uft exlsts he�eundor),(v!)all royaltles,minerel,ou and gas rlghts and profits,weter,wator rJghts,and water stock,(vlq al� ��
<br /> �. , tenements,hereditements,prlvlleges and appurtenanCes belonging, used or en/oyud In Cunnectlon therewlth,and(vlll)all proceeds of Cornrersbn,w/unteiy ��`�.•_��-.a,��
<br /> or Involuntery,of any ol fhe foregoing Inro cash or Ilquldated clelms pncluding, wlthouc llmitedon.pmceeds of Insurance end condemnatlon ewanys�,aIl d �=,;�--��R=:�,:
<br /> whlch is herelrteRer collectivey called tha"llust Propeny" L�'-_ _
<br /> �:..
<br /> Tn PROlECT THE SECURIlY OF THIS DEED Of TRUST.TRUSTC�R COVENANiS AND AGREES AS FOLLOWS: -_,,,���
<br /> 1. Iitle. flustor covenants,warrents and agrees with Beneficiary,its successo►s end asslgns,that Tiusror owns the bust Properry!ree Irom srry pbr I�n •, . -�::
<br /> � or encumbrance,that thls Ueed o/Tiust!s and wlll remaln a va!!d end en/orceable llrst lien on the Tiust Property.that 7iusto�at its expense, wdl ,•�;�:' i.
<br /> praserw such title and wlll mainte�n this Deed oi Trust as e first and paremount Ilen upon the hust Property and wlll forevisr warrant end defend tho �� � �y ,; .
<br /> valldiry and prbrlry ol the Ilen hereof agalnst the claims ot el1 persons an d parlies whomsoevec Tiusto�at!ts expense,wlri cause thls Deed ol llvst `��r��.�:•-_ �4�
<br /> �r;f:•.�n•. .
<br /> snd each amendmertt or supplement herero, ro be llled end recorded as a mongage o/the hust Property in such manne�and!n such place and w�� •` _
<br /> ! tako such ecfbn es In the oplNon ol hustee msy bo requlr�d by ery present a�uture faw!n order ro per/ect,malntein and proteCt the Ilen of Ihls Oeed M�,
<br /> , of Trust,es the samo mey bo amended or supplemented from tlme ro time. Tiuuo�will meke such further assurance or assurances to paASCt ds title to �
<br /> the Tiust Pioperry es may be raqulred by Bene%iary. Trustor hereby relrnqulshes all dght of davor and homestesd in and to the Tiust Properry . ,
<br /> 2. Poyment ol fndebtedness. Trusror shall punctualry pr,y the pnncipal of and interest on the Indebtedness secu�ed hemby.
<br /> j 3 Consnuctlon oi fmprwements.Tiustor shall complete in good end workmanlike manner ary buifdings,imprommonts or repa�rs reladng fhereto whrch
<br /> may be begun on fhe Trust Property o�contempJafed by tho loan evldenCed by Ihe Note seCUred hereby. to pay when due all Cosfs end lisbilides �
<br /> mcuned therelore,end not to permlt ary construction 1len against such Ti�st Pvperty !n tho event consnuchon o�bw�dinc�s,improvements o�repo�s i
<br /> � are conlemplated, riusror olso agrees,arything in this Deed ot Trust to the coMrary notwdhstanding:(a)ro prompNy commence any such work and ro ,
<br /> , complafe theproposed improvements prompty.(b)to complete fhe same!n accordance with the plans and sExrcrficatlons c+s approved bY Bene(ic�ery.
<br /> (c)to compty with all the terms oi e buifding loan agroement,i/ary,between irustor end Benel�ciary,fhv terms o!which are mcorporated herein GY
<br /> releronce and made a part horeot.(dl to ellow Beneiiciary to lnspect the Tiust PropeRy at all hmes tlunrtg conshuchon,end(e)to replBCe a►ry wo�k or i
<br /> matenals unsatlsfecrory to Beneticlary wdhin 6Reen(t5)oays aftor wntten nohce from 8ene6ciery ol such fact. �
<br /> . _ . . .. .- ^---.._.__......,.,.�,ro..r....�r�h . -•- - --.. .. ..
<br /> 4. Funds for Payment o/Chmges.Subject to applicable law a ro a wntton waroerqr trenenciary. �rusrt�r sna�,Nay w�+o�.o.�...ov�.•...�...-.-_,_ __. .._ ..
<br /> month,or such ofhor date esch month as may bo specdiod by Bone6ciAry, unl�l the Indebtedness�s pa�d m full,n sum(horeinaRe�callsd the"Funds") �
<br /> oqual fo 1/12th o!tho yoar/y taxos and nssessments wh�ch mey arta�n prio�ity ae�fhis Deod of Trust and ground rents on tho 11ust Property.A anv.p�us I
<br /> 1/12th of the yearry pmmium mstallmonts for hazarcJ�nsurancn.p�us 1/t2th of tne yearty premium instu�iments lo�mortgage�nsurance.d arry.ell as �I
<br /> reasonably ostimeted lndlalty and irom t�mo to hme by Benef�c�sry on tho bas�s ol assassments and bdls nnd rtjesoneble esfimates thvroo/. �he Funds �
<br /> shall be hvld m an lnsGWhon,the deposds or accounts ol wh�ch u�e�nsured a guurenteed by e fedoral or stete agcrncy�ncludmg 8oneliaary
<br /> 8nnelM�ary shall app/y the Funds ro pay sard faxes.assessmenls,�nsurance promiums und grountl rents.Benofiaary shall not bo reqw+ed to pay ;
<br /> � Tiusta arry mtprest or oarnings on the Funds BQnof�c�ary shull gne fo Trustot wrthout chargo.an annual eccounhng of the Funds shavmg Cred�is ancl I
<br /> dvbrts lo the Funds und the purposa for wh�ch euch debd to tho funds was mado The FunUS ero pledgvd os add�hona/socunry for tho/ndebtedneSs
<br /> socurod by fhis Dood ot Trust It fho amount of thn Funds held by Bonc+fic�ery.together w�lh the tuturo monthly insfal�mvnts of Funds p:ryabfo pr�c��ro
<br /> thp due dates ol fnxos assossmenfs,insuranco prommm5 and g�ound rvnts.shall oxCOOd tho amounf�equ��Ud ro ptty se�d faxos assessmenls. ,
<br /> msureneo prom�ums and ground rants as fhQy lall duo,such uxcoss shell be,a1 Tiusmr�optwn,athu�prompNy mpa�d ro Tiusfvr or credrted�o Trustor
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