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<br /> 1 �� DEED OF TRUST 4VITH FU'iURE ADO/ANCES • • �� � _
<br /> N ' � -
<br /> � , THIS DEED OF TRUS7,is made as of the 28th day of ls9ar'ch , 19 97 ,by and amon� , ,-��
<br /> ' the Tnistor. Central Properties. �nc �r . � � '•. _ _ _
<br /> � whose mailing address is 410 S. Webb Rd. Grand Island NE 68803 (herein'Tnutof,whether one or more), • ' ��• _
<br /> -:.:..•
<br /> •_ .� --_-_----_ _
<br /> • �; j �e T�� Five Points Bank, a Nebraska Corqoration _ __ . , .
<br /> whose mailing address is ^ ^ n_.. ,en� .�....a Te�__.a ,..p SR��� (herein'Tnistee�,and , � ; '�
<br /> . ! � - � ��.–`+y,'�n��
<br /> � the Beneficiary. Five Points Bank . _ _
<br /> .�
<br /> _ � . . �...�,.�,.-_
<br /> � . whase mailing address is 2015 N Broadwel� n�� ^-�-�^a rai�.,a t� 6ggp� (herein'Lende�. - . , -�� �;�i—
<br /> F04 VALUABLE CONStDERATION,including Lenders extension of credit identified herein to •: �: :�=• �- ,�--•--.:
<br /> Central Properties, Inc. �1 � —
<br /> � (herein'Borrower;whether one or more)and the trust herein created,the receipt ; ` ���'1� ��`
<br /> of which is hereby acknowledged,Trustor hereby irrevoqbiy grants, transfers,conveys and assigns to Trustee. IN TRUST,WITH
<br /> R f SAIE for the benefit and se of Lender,under and subject W the terms and conditions hereinafter sef brth,the reai �`���.,� ,
<br /> POWE O . ��Y
<br /> property described as follows:
<br /> East One—half (�) of Lot Seven (7), Block Sever.ty—four (74), Oriqinal Town� �� . `
<br /> City of Grand Island, Hall County, Nebraska -� '��� � ,�
<br /> s
<br /> . �.-. .s .'
<br /> , Togsther with ail buitdings,improvements,fixtures,streets,aileys,passageways,easements,rights,privileges and appurtenances : i�,s�' �..�.
<br /> � located thereon or in anywise partatning thereto,and the rents,issues and profits,reversions and remaintlers thereof,and such per- .'_: �_� '';� , ��
<br /> sonal property that is attached to the Improvements so as to constitute a fixture,inGuding,but not limited to,heating and cooling equip-
<br /> menfi and together with the homestead or maritai interests,ff any,which interests are hereby reteased and waived;all of which,inctud- �;. �•
<br /> .. . ing replacements and additlons thereto,is hereby dectared to be a part of the real estate sewred by the lien of this Deecl of Trust and .. ' '
<br /> all of the toregoing being referred to herein as the'Propert�'. ~'` �'��
<br /> This Deed oi Trust shall secure(a)the payment of the prinGpal sum and interest evidenced by a promissory note or credit agree- . ':��,
<br /> : ment dated March 28. 1997 .having a matuAty date of�Dtil 10. 2002 . '/��,�_
<br /> in the origlnai prindpai amount of$ 23.285.50 . and any and all modficaUons, extensions and renawals ; �;:�
<br /> thereoi or thereto and any and all future advances and reaQvances to Borrower(or any of them ff more than one)hereunder pursuant . �::�
<br /> • to one ar more promissory notes or credit agreements(herein cailed'Note7:(b)the payment of other sums advanced by Lender to ,;.�•,�;'
<br /> protect the security ot the Note;(c)the pe�formance oi all covenants and agreemenb of Trustor sei forth herein;and(d)a11 present and -- . � '
<br /> tuture indebtedness and obligations of 8orrower(or any oi them A more than one)to Lender whether direct,indlrect,absotute or contin- '�-��.�..-:-:.
<br /> gent and whether arising by note,guaranty,overdraft or otherwise.The Note,this Deed oi Trust and any aRd all other documents ihat � 'y�+Y''`'� •
<br /> secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and , '��ya
<br /> � assignments ai leases and rents,shatl be referred to herein as the'Loan Instruments'. �
<br /> Trustor covenants and agrees with Lender as follows: . ,_. . _ —
<br /> 1. Payment ot Indebtedness.All indebtedness secured hereby shall be paid when due. ,�,,. �.=
<br /> . 2. Tttla.Trustor is the owner of the Property.has the right and aulhority to convey the Property,and warrants that the iien creat- • . .
<br /> � ' ed hereby 1s a first and prior pen on the Property,except for liens and encumbrances set forth by Trustor in writing and delivered to � ,
<br /> Lender betote execution of this Deed of Trust,and the execution and delivery of this Deed of Trusi does not violate any contrad or �-..ss_.-,..,�,�.
<br /> other obligation to which Trustor is subject. • �. . �
<br /> 3.Taxes,Assessments.To pay before delinquency all taxes,special assessments and all other charges against the Property . __
<br /> now or hereafter tevied. ;. �
<br /> 4.Insurance.To keep 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 additionai . .
<br /> � named insured,with loss payable to the Lender_ In case oi loss under such policies,the Lender is authorized to adJust,coilect and �
<br /> compromise,atl Gaims thereunder and shall have the opUon oi appiying ail or part oi the insurance proceeds(i)to any indebtedness � _R.
<br />. • secured hereby and in such order as Lender may detertnine.(ii)to the Trustor to be used for the repair or restoration ot the PropeRy or �_,
<br /> (iii)for any o'ther purposo or obJect satisiactory to Lender without aHecting the lien of this Deed of Trust for the full amount secured _-
<br /> � hereby before such payment ever taok place.Any applications of proceeds to indebtedness shall not extend or postpone the due date
<br /> . oi any payments under the Note,or cure any defauit thereunder or hereunder. �_:_
<br /> 5. Escrow.Upon written demand by Lender,Trustor shall pay to Lender,in such manner as Lender may designate,sufficient • . . �,�_
<br /> sums to enabte Lender to pay as they become due one or more oi the foilowing:(1)ali taxes,assessments and other charges against .
<br /> the Property, (ii)the premiums on the property insurance required hereunder,and (iii) the premiums on any moRgage insurance �
<br /> � required by Lender. � —
<br /> r 6. PAalntenanee, Repairs and Compllance witb Laws.Trustor shail keep the Property in good condition and repair: shatl .
<br /> � rom tl re air,or replace an im rovement which ma be dama ed or destro ed:shail not commit or ermit an waste or deteriora- a•�'
<br /> P PY P Y P Y S Y P Y
<br /> � tion of the Property;shail not remove,demolish or substantiaily aiter any of the improvements on Ihe Property;shall no!cammit,suffer � ��,_,_
<br /> . j or pertnit any act to be done in or upon the Property in violation of any law,ordinance, or regulation: and shalt pay and prompUy dis-
<br /> charge at Trustors cost and expense all liens.encumbrances and charges tevied,imposed or accessed against the Property or any � ��
<br /> . part thereoi.
<br /> � 7. Eminent Domain.Lender is heteby assigned all compensat+on,awards.6amages and other payments or relief(hereinafter �;��-
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