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<br /> DEED OF TRdJST WITH FUTUR�ADVANCES „ "
<br /> :_'�:T.
<br /> THIS DEED OF TRUST,Is made as of the 3RD day ot MARCH ,�g 97 ,by and among�� • ••----"°T=--.
<br /> `' \v , ,���'`_--
<br /> � theTrustor, PAULSEN ANO SONS, INC. , � '��---
<br /> �j.. --- —
<br /> � whose mailing address Is 247 1 S_ I OCLIST, GRAND ISLAND. NE 6$601 (hereln"Trusror',whetherrnoor more), �• A==
<br /> ' theTrustee FIVE POINTS BANK, A NEBRASKA CORPORATION
<br /> •� � whosemeilingaddressls P.0_ BOX 1507. GRAND ISLAND, NE 68802-1507 (hereln'T�ustee"),end
<br /> : the Beneflciary, FIVE POINTS BANK -'�`�°�����
<br /> � �.
<br /> � whosemaitingaddress(s 2015 N. BROADWELL. GRAND ISLAND NE 68801 (herein'Lende�'). �� • ,
<br /> '`._;�:
<br /> �� �
<br /> �. FOR VAL.UABLE CONSIDERATION,including Lender's sRtenslon of credit identifled t�erein to ��?• .
<br /> „ PJ�IIISFN AND SONS� INf._
<br /> � (herein "Borzower;whether one or more) and the trust herein created,the recelpt
<br /> oi which Is hereby acknowledged,Truslor hereby Irrevocably grants, transfers,conveys and assigns to Trustee, IN TRUST, WITH '
<br /> t? POWER OF SALE,for the beneflt and security of Lender, under and subject to the terms end conditlons herelnafter set forth,the real •::
<br /> 3' property described ae follows:
<br /> � LOTS ONE �1) TWO (2)� THREE �3) � TWENT Y-S I X �26)� TWENTY-SEV EN (27)� AND �,., y�
<br /> � TWENTY-EIGNT (2a)� I;V ROUSH S PLEASANTVILLE TERRACE SUBDIVISION", A SUBDIVISION OF LOTS 20. ;, ;;;
<br /> � �� �
<br /> � w 21 AND THE WEST 313.0 FEET OF LOT 30 OF MATTHEW'S SUBDIYI SION OF PART OF THE NORTHWEST � ��
<br /> � � U TER ( Wl/4S�eOF SECTION 27. IN TOWNSHIP 11 NORTH, RANGE 9, WEST OF THE 6TH P .M., HALL `�;
<br />,� ��1��tw������il�iht�s,tmprovements,flxtures,streets,alieys,pansageways,easementa,Hghts,privileges and appudenancas ' :t
<br /> loceted thereon or In anywise perteining thereto,and the rents, issues end praiits, roverslons and remainders thereoi,end such per-
<br /> sonal propsrty that Is attached to tha Improvements so as to constitute a flxture,Including,but not Ilmited to,hea8ng and cooling equlp- �,
<br /> � ment;and together with the homestead or marital intereats,If eny,which interests ere he�eby reieased and waived;all oi whlch, includ• _-�
<br />_ ing replacements and addit(ons thereto,Is hereby declared to be a part of the reel eslate secured by the Ilen oi this Deed of Trust and
<br />,, all of the foregoing being referred to herein es the"Property". ��--
<br /> ��� � Thls Deed ot Trust shall secure (e)the payment of the principal sum end interesl evidenced b e promissory note or credit agree- �'--'�
<br /> �``. � . .,, mentdated MARCN 3� 1997 ,havingamaturitydateot MAf�CH 1, 20U2
<br />�' �� '�H � fn the original prinGpal emount of$ 75,034.50 , and enyand sll modlflcations, extenslons and renewals �_—.
<br />�� � ' th9reof or thereto and any and ell future edvencos and readvances to Dortower(or any of ihem if more than one)hereunder pursuant __._�
<br /> ..'' � to one or more promissory notes or credlt agreements(hereln called'Note'); (b)the payment of other sums odvanced by Lender to ___
<br />-_ _ �.-���.� (�iivioi.i Z�'io b6wi i�0=tti6�'SBtv�tC�ii�o y"v�tmarca ai a�!cc.cr�ar,s ar,d ay(CuRiCi1►J N TIYJ�VI oCt�Ciii7 hvfv�f:�.^.^•:�.'�.j.^.!! AfP,�r^.lS���:� --' - --� --_--
<br />'=`= "� futurA(ndebtedness and obligetlons ot 8orrower(or eny oi them ff more than one)to Lender whethor direct,IndUoct,absolute or contfn- �-��
<br />-�'��s gent end whelher arising by note,guaranty,overdraft or otherwise.The Note,thls Deed oi Trust end any and all other documonts that _
<br /> - secure the Noto or otherwise executed in connectlon thorewith, including without�mitatlon guarantees, security agreements and �;;,°;;_
<br /> 'w'��'� `•� essignrnents of leases and rents,shall be roferred to herein es the'Loan Instrurnents'. �`.:�;;,,..�,.v,� __
<br /> ���� Trustor covenants and egrees with Lender as follows: ' =_ —
<br />-' : 1. Payment of Indebtedneas.All Indebtedness secured hereby shall be peid when due. °ry'° —�
<br />±� � 2. Title.Trustor Is the owner of lha Property,has the right and euthority to co�vey the Property,end warranta that the Ilen creat• ,,a,�,�..,.,�,
<br /> E_'_:�-,�,-�-�:.��r.,
<br /> " ed hereby is e ftrst and prlor Ilen on the Property,except for Ilens and encumbrances set(orth by Trusror In wrfting and delivered to ,: ---;�
<br /> � Lender before execution oi thls Deed oi Trust, and the execution and delive of this Deed of Trust does not vlolate an contract or � '-�- �:'`
<br /> �r rY Y E:tr��:�,,�5+3....-:
<br /> other obllgation to which Trustor Is subJect. ' „ �:
<br /> `' 3.Taxes,Asoessmenta. To a before delin uenc ali taxes,s ecfal assessments end ell other cher es a ainat the Pro e � ''�`"
<br /> P Y 4 Y P 9 9 P rh' ..'"':t � ,�.ff�t��� r.
<br /> now or hereafter levied. -�� � µ«ti .
<br /> , , . ` Z'r."�',
<br /> 4.Insurance.To keep the Property Insured against damage by flre,hazards tnctuded within lhe term'extended coverage',and , ..
<br /> such other hazards as Lender may requlre, In emounts and with companles acceplabie to Lender, neming Lendor as an eddlUonel • '� �•• �
<br /> named insured, with loss payable to the Lender. In case of loss under such policies,the Lender Is authorized to ad�ust,collect and �'��V����
<br /> •*.
<br /> compromise,all claims thereunder and shall have the optinn of applying all or part of the insurance proceeds(i)to any indebtedness � � � �
<br /> ' secured hereby and In such order es Lender may determine,(II)to the Truaror to be used for the repalr or resroration of the Property or '' �
<br /> � (III)for any other purpose or obJect s�tis(actory to Lender without aHecting the Ilen d this Deed oi Tnist for the full amount secured �
<br /> __ ____ ; hereby before such payment ever took place.Any applications of proceeds to indebtedness shall nat extend or postpone the due date _,",_:,____,____,__,___
<br /> oi any payments under the Note,or cure any default thereunder or hereunder. "
<br /> � 5.Escrow. Upon written demand by Lender.Trustor shall pay to LQnder,in such manner as l.ender may designato,sufficient .
<br /> _ _ � sums to enable Lender to pay es the.y become due one or more of the following:(i)ail taxes, assessments and other chargos agalnst
<br /> � the Property,(li) the premiums on the property Insurance required hereunder,and(lii)the premtums on any mortgage Insurance
<br /> requfred by Lender.
<br /> - 6.Niaintonanco, Repalrs and Compllance with Lawo. 7rustor shall keep Ihe Property In good condition and repair;shall
<br /> - � promptty repalr, or replace any Impruvamont which may he demagod or dostroyed; shall not commit or pormft any waste or deteriora- �
<br /> tion�f the Property;shall not remove,demolish or substantiaily alter any o(the Improvements on the Property;shall not commit,suNer
<br /> or parmit any act to be done In or upon tho Property in violation of any law,ordinance, or regulation; and shall pay and promptiy dis-
<br /> � . charge et Trustor's cost and expense atl Ilens, oncumbrances and ch�rges Ievied, imposed or nccessed agalnst the Property or any
<br /> , part thereot. �
<br /> 7.Eminent Domaln. Lender is hereby assigned e�l compensatlon,awards, damages and other payments or rellef(herelnafter „
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