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<br /> DEED OF TRUST WfTH �UTURE ADVANCES �� � `_
<br /> . '� � -.'-�: - �
<br /> THiS DEED OF 7RUST,is made as of the�j._day of MARCH _ .19 97 .by and among � ' ;` ,:������.=":
<br /> ��a ' . . . . ---:.;�.:
<br /> theTrusmr, JAMES E. EILTS ANO LINOA EILTS, HUSBAND AND WIFE � � .��--_;_
<br /> � GRAND I S LAND, NE 68801 �herein'Tnutor,whether ane or more). '���`'- :��
<br /> whose maiting address is 649 MACARTHUR AVE., � � ��,t�.
<br /> theTrustee FivF POINTS BANK. " ��rooncva rnttaORATION � �":_ -�
<br /> P.O. BOX 1507, GRANO ISLAND, NE 68802-1507 (herein'Tnistee�,and ,� �
<br /> whose mailing address is '_._�.,,
<br /> the Beneficiary. 0 S BA�K , �-
<br /> .�� .:::
<br /> � whose maiiing address is 2015 N. BROADWELL GRAND ISLANO, NE 68802 (herein'l.ende�'I. � --_.:=:�;�•�
<br /> : "���
<br /> ' FOR VALUABLE CONSIDE�q�iO i G n ertders extension of credft idenUfied herein to STAR-LITE �HASS IS . . �- -.:�.,;;��
<br /> DEVELOPMENT, INC. AND �'iPl ��L�'� �%`�"' .
<br /> . , (herein'Borrower;whether one or more)and the trust herein created,the receipt .
<br /> , . of which is hereby acknowledged,Trusto�hereby irrevopbly grants,transfets,conveys and assigns to Trustee, IN TRUST,WITH _.. ,., - _
<br /> ,` POWER OF 3ALE,for the beneflt and security of Lender,under and subject to the tertns and condidons hereinafter set bAh,the real ••�,., � _
<br /> property described as follows: �-"�� "
<br /> y, .
<br /> � '�'' SEE ATTACHED EXHIBYT "A" :�';` � `��'.'
<br /> -.t,��� ";;� _
<br /> , ,, .`��•.'.
<br /> • Together with ali buildings,improvements,fixhires.streets,alleys,passageways,easements,rights,privileges and a��uRenances '�: .
<br /> � lopted thereon or in anywise pertaining thereto,and the rents,issues and profits,reversions and remainders thereof,and such per- ��,�°.
<br /> � sonal property that is attached to the improvements so as to constiU+te a fixture,including,but not limited to,heatlng and cooling equip- - �•.
<br /> - menfi and togother with the homestead or marital interests,'rf z�y,which interests are hereby reteased artd waived:all oi which,inciud- - , ;���__
<br /> •� ing replacements and additions t here t v,is her e by dec l a r e d t o C e a p a rt o f t h e r e a l e s t a t e s e c u r e d b y t h e l i e n o f t hi s Oeed of Trust and � �`;�;�_
<br /> aii of the foregoing being roferred to herein as the'Propertyr. � "'9'"'.,� -
<br /> This Oeed of Truat shall secure(a)the payment of the principal sum and interest evidenc$d by a romisso no2e or credit agree- . ��. ;=�'r
<br /> ment dated MARCH 21 1997 ,naving a maturity date of MAY 20�fH, 19�7 `�•�-�.,;.� '
<br /> � in ttso original prinGpal amount of$ g,rt ti9 �n .and any and all mod�ptions, extenslons and ren��nraFt ��
<br /> •4.i���f•..'.
<br /> thereof or thereto and any and ail future advances and readvances to BoROwer(or any of them if more than one)hereurder pursuant �,�`�_:�;�.
<br /> � to one or more promissory notes or credit agr�eements(herein catled'Note�:(b)the payment oi other sums advanced @y Lender to �...�.___r��-
<br /> �-` ,.--
<br /> protect the security of the Note:(c)the performance of all covenants and agreements of Trustor set forth herein;and(d)ail present and R: _.
<br /> future indebtedness and obUgations oi BoROwar(or any of them ii more than one)to Lender whether direct,indired,absolute or oontirt- . ���"'�';�:
<br /> gent and vmether arising by nate,guaranty,overdraft or otherwise.The Note,this Deed of Trust and any and ali other documents that �*'=�"`��"'.''"`°•"
<br /> �n:�
<br /> � secare the Note or otherwlse executed in connectlon therewith, including without limitation guarantees, security agreements and �'r°�'�f'�==°�:��.
<br /> ..--„z,...g.Fr�.;,�� .
<br /> assignments ot leases and rents,shall be referred to herein as the'Loan lnsWments'.
<br /> � Trustor covenants and agrees with Lender as tollows: �h-�t�*`x� �.
<br /> 1. Payment ot tndebtedness.All indebtedness secured hereby shall be paid when due. • � � �a�
<br /> ' 2. TiUe.Trustor is the owner of the Property.has the right and authority to oonvey the Property,and warrants that the Iien creat- • �`� � .
<br /> � . ed hereby is a flrst and prior lien on the Property,except for liens and encumbrances set forth by Trustot In wriGng and dsNvered to _ .
<br /> ' ', Lender betore execution o!this Oeed of Trust,and the execution and delivery of this Oeed oi Trust daes not vlolate any wntract or _
<br /> � other obligation to whlch Trustor is subJect. �� � � �
<br /> �� 3.Taxes,Assessments.To pay before detinquency all taxes,special assessments and afl other charges against the Property . . . .
<br /> now or hereafter levied.
<br /> A.Insurance.To keap the Property insured against damage by fire,hazards included within the tertn'extended coverage',and _
<br /> such other hazards as Lender may require,in amounts and with companies acceptable to Lender, naming Lender as an additional
<br /> named insured,with loss payable to the Lender. In case oi loss under such policies,the Lender Is authorized to adjust,cotlect and ,
<br /> oompromise,atf claims thereunder and shatt have the opdon of appiyln�atl or paR of the Insurance proceeds(i)to any Indebtedness • . .
<br /> . secured hereby and in such order as Lender may determine.(ii)to the Trustor to be used tor the repair or restoratlon of the Properiy or ,
<br /> (ili)for any other purpose or object saUStactory to Lender without affecUng the Aen of this Oeed oi Trust for the full amount secured
<br /> � hereby before such payment ever took ptace.Any applications oi proceeds to indebtedness shall noi extend or postpone the due date
<br /> � ` oi any payments under the Note,or cure any default thereunder or hereunder.
<br /> ' S. Eserow.Upon v�ritten demand by Lender,Trustor sha�l pay to Lender,in such manner as Lender may designate.sufficient , _ •
<br /> sums to enable Lender to pay as lhey become due one or more ot the following:(i)aIl taxes,assessments and other charges against .
<br /> the Property. (ii)the premiums on the proparty insurance requiretl hereunder.and (iii)the premiums on any mortgage insurance •
<br /> required by Lender. � •
<br /> 6. Maintonancu, Repai�s and Complianeo�vlth Laws. Trustor shalt keep tha Praperty�n good condition and repair; shall �
<br /> promptfy repair,or replace any improvement which may be damaged or destroyed:shall not commit or permit any waste or dete�iora- �
<br /> � . tion ot the PropeAy:shall not remove,demolish or substantialty after any of the improvements on the Property:shall not commit,suffer
<br /> or permit any act to be done in or upon the Property�n violation nf any law,ordinance,ar regulaLon;and shall pay and prompt(y dis- .
<br /> • charge at Trustor's cost and expense all liens.enwmbrances and charges levied,imposed or accessed against the Property or any
<br /> part thereof. • �
<br /> 7 Eminont Oomain.Lender is hereby ass�grted all compensation, awards.damages and other payments or re6ef(heroinafter ="
<br /> I• ' .
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