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<br />_•_�i:� � �' DEED OF TRUST WITH FUTURE AOV�lNCES 97,� 1Q11�
<br />:>_� —
<br />-.-�a�=
<br /> ��'``s;';� 7HIS DEED OF TRUST,Is made t��ot the 20th_day oi Feb ruarv , �8 97 ,by and among�
<br /> �y� Q
<br /> :=_�� the Trustar, K n eth F S h u d g, a ci�g1�o erse n � �
<br />-=a.,.�. \a
<br /> -- whose melling eddress is,�2�7 S u m mer Circle, G ra n d Islan d. N E 66803 (hereln•Tn,scnr,whether one or more),
<br /> �.`A..I
<br /> ,j,;;�� lhe Truatee F1ve Points Bank� Webt aska Cornoration _
<br /> _f�;�� whose mail►ng address is P.0. Box 1507. Grand Island. N E 68802-1507 (herein•Truatee'),And
<br />�����
<br /> the Beneflclary,
<br /> whosemailingeddressis 2015 N. Broadwell Ave.. Grand Ysland. NE 68B03 �neretn"Lende�').
<br /> FOR VALUABLE CONSIDERATION,including Lender's extonsion of credlt identffled herel�to Kan nath F_ Sh ud�,
<br /> ,�� _(hereln"Borrower,"whether one or rnore) end the trust hereln created,the recefpt
<br /> of which is hereby acknowledged,TNStor hereby irrevocably grents,transfors, conveys and assigns to Trustee, IN TRUST,WITH
<br /> . �����a���LF,��ma����!���,���,flf�n�ps.'i�nw�a"�t aubject to tha terms end condllbns hereinafter set forth, the real
<br /> properly describAd as follows:
<br /> _ �� Lot Twenty-four (24) Jeffrey Oaks �ifth Subd9v9sion to the City of Grand Island, Hall
<br /> - County. Nebraska.
<br /> Together with all buildings,Improvements,tixtures,etreets,alleys,passageways,easemente,rights,pdvileges and eppunenances
<br /> located thereon or fn enywise pertafning thereto,and the rents, Issues and proflts,reverslons end ramainders thereqt,end such per-
<br /> sonal properly that is�ttachc�d to the Improvements so es to constltute a ftxtura,Including,but not IirrYled to,heatinp a�d cooling equlp�
<br /> menh a�d together w(th the homestead or marttel i�terests,If any,whlch interests are hereby releasod end waived;a11 of whlch,includ-
<br /> ""'� Ing replasements and additfons thereto,Is hereby declared to be a part of the resl estate secured by lhe Ilen of this Deed of Tn�st and
<br /> a!I ot the forego!ng beinp referred to heretn es the"Propert�'.
<br /> Thfs Deed of Tnist shall secure(a)the payment oi the principal sum end Interest evldenced by e pramissory note or aedit egree-
<br /> ment dated F,p�, �r�„�a_,r_�2Q,�.�.49-7 ,having e matu�ity date af�nr�L22,..149.�.�
<br /> In the oripinal pdncipal emount oi S�Q�nnn_pp , end any and sll moditlraUons, extenstons and renewals
<br /> � thoreo7 or thereto end any and ell future advances end readvances to Borrower(or any ot tt�om 19 more than ane)hereunder purouani
<br /> to one or more promissory notes or credit agreements(hereln cailad'Note");(b)fhe payment of olher sums edvanced by Lender to
<br /> — pe�t�:.tis�sscudty af th6 tteis;(c}tho Ferfcrsnancp�t AI�r.nvnnants end aqreements of Trustor set torth herele�;end(d)ali prHSent artd
<br /> futuro fnde�tedness and otrligattons oi Borrower(or any of them If more than one)to Lender whetherdirect,indirect,absolute or conNn-
<br /> gent end whether edsing by note,guaranty,overdraft or othervvise.The Note,this Deed of T�ust a�d eny end nll other documents that
<br /> secure the Nflte or othervvlse executed in connection therewith, including wlthout Ilrnitetion guarentees, secudty e�reements and
<br /> asslgnments uf leases and rents,shall be refened to heretn as the'Loan Instruments'.
<br /> Trustor covenanta end agrees with Lender as follows:
<br /> 1. P�ym�nt of ind�bt�dn�ss.All Indebtednass secured heroby shali bo paid when due.
<br /> — 2. Titis.Trustor is tha ownsr of the Property,has the right and outhority to convey the Proparry,and warrants Yhat the lien creat-
<br /> ed hereby Is a ftrst and prior Ilen on the Property,except for liens and encumbrances set forlh by Trustor in w�iting end deUvered to
<br /> _�:�;�� Lender before execuUon of thls Deed of Trust,end the executlon and delivery of thls Deed ot Trust daes not v(olete any contract or
<br /> --------� other�biigation to whlch 7rustor is subJect.
<br /> _..._ — 3.Trx�s,Aas�ssm�nts.To pay before delinquency ell taxes,spec{al essessments and all Wher charges agalnst the Nropatty
<br /> --=--= now or hereafter lovied.
<br />— � 4.Insurance.To ke�p the Properry Insured agalnst damage by flro,hazards Included withln Ihe tertn'extended coverage',and
<br /> .�:��=:.;,� such other hazerds as Lender mey require, In emounta and with companies acceptable to Lender, naming Lender as an addlttonal
<br /> --_---- named Insured,wfth los�payabte to the Lender. In case of loss under such pnliciss. the Lender is authorized ta adjust,caflc�t and
<br /> - -�(•�� compromise,all clalms thereunder and shall have the optfon oi epplying alt or part of the fnsuranca procoeds(i)to any indebtedness
<br /> =�;�;;�n�-�''`�� secured hereby and in such order as Lender may deterrnlne,(II)to the Trustor to be used for the repalr or resroreUon of the Property or
<br /> --` (III)tor eny other purpose or obJect satisfactory to Lender without e Hect ing t he i len o f t h ls Qoa d o l Tru s t f o r t h e f uil emount secured
<br />-�';,�� hereby before such payment ever took p lace.Any app l ica t tons o i procee ds t o I n d e b t e d n e s s s h a l l n ot extend or post p one the due date
<br /> �__.__.....�..�......e.�no w.ro .,r���ro anu dafault thareunder or hereunder.
<br /> rrrrrs�u:,a v�o�q Nuln�v,..u...�..... »....--^�-• -°--••• ----- .. . .
<br /> -���`�_� 6.Escrow. Upon written demand by Lender,Trustor shall pay to Lender, In such manner as Lender mey deslgnele, sufticlent
<br />��_��;:,,;:'�; aums to enaDte Lender to poy as they hecome due one or more of the fo�lowing:(I)all taxes,assessments and uther chargos against
<br /> --�`"` ' the Property, (fl) the promlums on the properly Insurance roqulred hereunder,end piq the premlum�on any mortgego Insurance
<br />__'":`_��'�, requlred by Lender.
<br />= P=;�T�-c+r 8.Msintenance, Rspalrs and ComPllance with l.�iwa.7rustor shail keep the Property In good condltlon and repalr, shall
<br />-^"�'`��•'��'=''� prompUy repalr,or replace any Improvement whtch may be damaged or destroyed;shan not commit or permit any waste or deterlora-
<br />���"�'�;�;'�'��y tion of the Property;sheli not remove,demolish or substentlaily alter any of the Improvementson the Propertyr;shall not commit,�uflor
<br />���Rt�'<a�rt> �� or portnit any act to be done In or upon the Property in violatlon of any lew,ordinance,or regulaUon; end shell pay end�romptty dls-
<br />--��"r' �� charge et TnistoPs cost and expense all Ilens,enraimbrances and chargas Ievied,Imposed or aaossed agalnst the Property or eny
<br />-=�'•:���'"�" partthereof.
<br /> .�'�"""'r �• 7.Eminsnt Domaln. Lender fs hereby assigned all compensatlon, owerda,darneges end other paymonta or relief(hereinaRo�
<br />_��.�. �x,_� 1
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<br /> . •r�,,-� o�9NeuwwlSWaemneror�uu�ne�MW��+,oa�ua��ncanNwr.w
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