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<br /> , �� Qeed of Trust
<br /> � eaar�s �
<br /> - � ge_,.. 100595
<br /> THiS DEED aF TRUST is made thts 25th day uf ��n�� . 19 9d,by and betr�veen Dennis D. Nelson and ,
<br /> r Pamela S. Ne lson� Nngi�anil an�i �,t fp wheiher or�e or more,(hereinaftercaffed the"Trusror�,
<br /> -- whosevnaf�Fngadd►essis �I -a�t �Otr stseet� �rand is�and Kehrant�a b88Q1 _ _ ,
<br /> NQ�RWEST BANK ��RASifA� NATTt1NAT. ASCAf'TATff1AI (hereiraafter ca!!ed the"Trustee'),whose ma�Ting address is
<br /> and N4AWEST BANK *T�4..�,_...*T�TIQDT{IL, ILSSOCIJLTION ,{herelnafter
<br /> Cdll@d thA��Beneficiary"),whose mailing add�ess fs p n AAA l 768,. rRnNn TSi.Ai+Si]� NP.l3RASKA ft$$07 ,
<br /> WITNESSE7H:
<br /> - . , 1F THIS 80X 1S CHECXEQ j J THtS DEED OF TAtJST CONSTiTtJTES A CONSTRUCF/ON . •
<br /> SECUAITV AGR�EMENT ilNDER TEIE NEBRASKA CONSTAUCTfON UEN r4CT AND CftEATES,
<br /> — � GRANTS A111D COAE�Tt�UTES A C011tSTRUCTlDAt SFCURI7Y IMTERFST!N THE PROPERTY . .
<br /> DESCRJBEf�tlEREIN�`c�OW. -. - � '
<br /> WHEREAS,rr...�^^tor is inC�SFd to B�r��4 ary in the prncrpal a�°rr.�a` E"1•-t�'�fi,'''a�tOUSAND AND N061�U � � ' �
<br /> • 170118/S(,f ��.--.,.., �=�-1�whieh i�r[fEL�fa`z3ssis e�denced!'�ir;:ti1r73�7'�„J.T�'%7it5�x'�!t'9f�[fa'�-''� Tani:aerv ?�r .1:� t�� .(hBBlI18fQBf .
<br /> • . �a38d:.''�"1�:'3,:,r�aya�lec�Uteflr�jc��?�r:r�saa;;y.��,';a,��u;����,,.7zen_�att..���:.n� '�s :..-�.$�.1! - , . ' .
<br /> , . ,
<br /> �s�i�:Sr T�+t��r7�ya4E,fvi th.s�purpose a"��c�i;i-EZr.. . .
<br /> ;a}'.;;Ja�:,�r.'c���'l:e Note,togather wit7:•in°a�st the�eon,fate chW*��.,prepayr�aeni nena'��:.a,.�i*j future advances,arrd af1 extensions,
<br /> modifrc�..'r�r�,sutis�Ntiuns and rat��u�31s thereot,
<br /> (b),paymerrY�f`alf other sums,tees or ctiarges,together with inte;�st thereon, advanced io proieci tha securiry af this Qeed of Trust and
<br /> th�performanCe ot the covennnts and agreements of Trvstor.wheihe�or not set faRh herein,
<br /> —, (c) pe�formance,discharge of and comptiance with every term,coverrant,obligafion and agreement of Trusta cont�ined herein n�
<br /> incorporafed by reference ar any other security rnstrument et anytime given to secure the Atote,and
<br /> � . (d) the�epayment af a/l other sums or frm�re advartces,with interest thereon, which m�ry horet�fore have been o�hereafCer be advartced
<br /> - by Beneficiary to Trusfor or Tastor's successor rn interest or tit/e,
<br /> all o!whlch Is heieln3lter colfectivery called the"lndebtedness".Trustor irrevocabty grants and trensfers to Trustee,in trust,WITH POWER
<br /> , OF SALE,the fallowing described praperry: .
<br /> -`
<br /> Lot One (1), $lock One(1), Waggener Subdivis3on to
<br /> the City of Grand Island, Hall County, N�braska '
<br /> y,' .
<br /> �i
<br /> together with(i)a11 build�ngs, structures,additrnns,entargement.s,morlifrcaiions, repa�rtr, replacementa,and improy 8manttr naw or Itareafter � `
<br /> located thereon,(i;)a!1 equlpment,machlnery and lixt�res(inc/uding,without Iimit�L�4n,aG!%f�h6ng,heafin�, venti.�a�ling,aanlicrg,ai� '
<br /> conditioning,sp�nkl►ng and plumbing fixtures, water and powersb�ta:.ns,enginas, bait�rrn,ranges,oa•ans,dish�vasharu,mino�s and mantals,
<br /> ca�pe6ng,fu��ces,of�bumers,elevatars and motors,relrigeratie:-r.Jants ar uni'�,cnmrnirn:as�ian sysernF,din�a:t�en�fOfi)Ef9,electrfcal �
<br /> equipment,storm and screen wlndows,doors,awnings and shades}now or horeafle�anaaHed:o�a bui�S�n,an)�bui;di:►g o�impravement '
<br /> - rcow or hereafter Ixated thereon,(iJi�a!!easements aarcd�i5hts of way appuRenant 1ltsieto.(iv),a/l leasehnl�ast�te,�ght,tifle and rrtCp!est ot �
<br /> Tc�:stor in and to a/lleases,whether now or hereslter��a5ng or e,:te�ed into{inr.l�di�7g;withaut limitation,a/1 cash arrd security de��:�.
<br /> , sdvance rer'a:'s and deposits ar paymer,t��t a similar natuia),p�r�ining theret�,{v)ell rer►!s,r.�sues,protits and irt�or,-rn�:'rereJrom!sLDject -
<br /> to rhe rightcfi'7ivsto�to collect and spp��;,ueh rents,issues,pra�l5ar�incvrn��as they b��rrsi?due artd payable sv!�-•�as no ever.t vi . —
<br /> � default exlsts Itereurtder), (W) all royafhes.�neraJ,ofl and gas n��rr.d prof!�-, water,w�.;s:�ghts,and water stock,(v.:�j all tenerrrs:,,s,
<br /> hereditaments,priv/feges and appuRerances belonging,used or��•{�;.�Yed i/1 r,ptTf7ECtron therewith,and(viri)a!!p�oceeds of conver.�i�n �.'
<br /> voluntary or Jnvalr�ntery,ol an y of the fcr�going into cesh or liq�ic'a��:ri ciarns(t�rcfuding, wlihout limitation,proceeds of Insu�ance artcl� ,
<br /> coRdemnatiar�r r,vards),all of whfch rs:,��eJnatter coliectivety c�'fut rlTa"Tiusr Piope�ry". �
<br /> TO PROT��i rHE SFCURIIY OF TH��DEED OF TRUST,TRfl�f�;R C01lENANTSAND A�CaREES AS FOLLOWS: i
<br /> 1. Tide,t rnxstar covenants,warrants and agrees wlth Benef,c.�;+,it:,saccessors and assigns,that Trustar owns ar.r�1'�5t Properry Iree `,
<br /> from a,T;+prJor lien or encumbrance,that this�E�c!of Trust is and.vift"remain a valid and enfo�ceabf��'�st lian�<:ihe Tiust Prope�ty. �r�.
<br /> ttrat Tr�ivr,at its expenso,wI11 prose�ve such titlo and wi/l ma,'n2a`r�thts Deed o!Tiust as s lirsr ar,d��1_�amo�rt 1;en upon the Trust �
<br /> Proped.yj rand wJll foreve►wanant and detend the vatidity and p�lar/ry oflhe lien he�eoi sgainst the claims of all�C��on�and paRies
<br /> wha�t��Wer. �iusiar,at�ts expense,wiN ceuse this Deed of Tius3�,and each amendment o�suppfement ireretc�.:;tt�be lited and a
<br /> recorded'es a mongage of the Trust Prope�iy!n such manna�an9 in sach place and will take such act+on as«r t.���n c�pinlon oJ Trustee � ��;
<br /> may be requlred by Any present or luture!aw in orde�to peAo�i;ma/ntain and protect the lien o!this Deed ot Titrst,as fhe same may
<br /> _ be amonded or supplemented lrom tlme to time. Tiustor wi;l cri:u�such luriher assurartce ar assurances to per/ect it�titlo to the Tiust
<br /> Prope►ry as may be requlred by Benelicfary.Trustor hereby Te:'inquishes all right of dower and home8tead in and to the Tiust Pioperiy.
<br /> 2. Payment of/ndebtedness. Tiustor shall puncfually pay PhD pfi.h�ipal ol and lnte►est on the Indabtedness secured hereby.
<br /> 3. ConsWctlon of Improvements. 7�usta ahail comp/ete in gp�d�3s�d worlrmanlike manner any bulidings,Impro�ementa or repal�s rel�ting
<br /> thereto whlch may De begun on the Trust Prope�ty or cor�isrnplated by the loan evldenced by Fhe Note secured hereby,to pay when
<br /> = due a/l casts and Iiabflities ineurred Iherefore,and not io pe�mit any construction/len agalnst such trust Pioperty.fn the event
<br /> construcUvn ol buildings,Improvements ar repa/rs are contemplated,Tiustor also agrees,anything in thls Deed ol Tiust to the contrary
<br /> — natwithsianding;(8)tv prOmptly commence any such work and lv comp/ele the p�oposed improvements promptfy,(bJ lo complete the
<br /> � same ln acco�darrce►�ith the plans end speclticotions as app�aved by Beneffclery,(c)to comply with alf the terms o!a building ioan
<br /> agreement,il any, between Trustar and Beneficiary, thA terms o1 which are rncorporatod herein by reforenco and made a pa►t he►eol,
<br /> (d)to ailow Benelielary to inspect the T�ust PrppeRy�t a/l time9 duiin�consfruction,and(e)to replace any work or materials
<br /> unsetisfectory to Beneliclery wlthln lifieen(15}days a�r�written notrce/rom Beneliciary of such fact.
<br /> � 4. Funds lar Payment of Chargo�.SubJect to appfrcabJO f&�vr or to a writtan waiver by Beneticiary, Tiusto�shalf pay t0 Be��efir./ary on thg
<br /> f�rat day o!eeCh►not►th,or such other date each mo»L7a�s may be speclfied by Beneliciary,until the Indebtea�nams!s pa�d!n futJ,e sum
<br /> (hsreir.a.`ta�calted rhe"Funds")epuaf to ti 12th of tAO yHarF�r��xes and assessments whlch may attain p�ioriry�.�v�r thig Deed ot Tiust - ---
<br /> and gr;�urtd�ent8 on the T�ust PropeRy,fl any,plus 1i12th c�'""e yea�ty premium installmenfs for haz��d lnsu^���:�3,plus fii2th of the � ,
<br /> yearh,�,�rs+n�um installments lor motigage insuranoe,rl ar.�.�:1 as reasonably estimated iniUalty an�.`-�m o,re*:i,me by Beneficlary on
<br /> � fhe C�rs�s ol essessments and bilis and�easona�b!e�sr.,^:��ss thereof. 7he Funds shall be held in�;�.�:�s',;�.��;,.'",g depaslts or ,
<br /> acccur,�ol whlch a�e insured or g.aianiead�;r a Peder��.�s,+ate egency Including Beneliclaty,Bar.s.�ciaRr s���,'�appty the Funds to �
<br /> 7�i [... �_': y • r: ' � � I _
<br /> ' . . �y` +�'Q.rB�,aS5b5Sm6ftiS.1r�„�..�.3;•.Gb p�bir;:w•,•+iS m�c}c,�',...�•:a tetrfs.Berrtali�Jary sfr�.i r;vP be repu�red fv Fa�/ >:-v.�r arry infe�est cr
<br /> � earrinyr�on tha F�nds.Benefi�%;;r;�.�hd11 give f� i'iub�r, �;�+'M.OJt chaig9.an ennuaJ sc�ounfin;q v!the �urd;�h�•sv;^g�c�edits and '
<br /> '� i�de1�A�!�Iho C��r.�,e.�a;��SIlL'n,�,rrr��n!nr wh;�bL u�s!�Jt w.,.r�, ► �•
<br /> ^, !. a:r,r,�c,x,�aa maMo_ Thv F,„�o�.e n��tnaw�se.niiiYifin nl e w.i h r��
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<br /> � the Ir.CebtodnesJ 4�:"urod by'�;s�eed al Trusi.II?ho<r�-�.r^2 0l the Funds held by BanotiClary,tc�•�,;uer�h_!r:tt��luture nranth/y
<br /> i,nstXhr�^t�of Funds payab/e�,���✓r td thp duo dt7tes Ol cc;:Y�3�.9ssessments,insurance ptemlums and g�ound ra•°�t9,sh�ll exceed the � ,
<br /> em�u�v"��quired ta paysaid taxes,assassmant.s,lnsurar;c�;��remlums and grouttd renfs ns fheylall dun,sucir c,xtsss sh�H Ge,dt �
<br /> , Trust�rs aptk�r►,either p�omptty r�pnld ia T�ustor ar croO�tvd to�iustar Qgalnst lutu►e�rranthly insfalimanls n��'urras. ll!hu amc:unt at
<br /> fho Funds hofd by 6anoficlary shal!not bo sul";Cr'ont to pay taxvs.�ssessrnents,insurartce p�emiwnv end,yrowtci rents ns tltoy lall d,�e. ��
<br /> 7rustvi she!!p�y to Henoliclary any emount nec��ssary to mt�kd up Iho daliclenc y wlfhtrr thtrty days Irom dru datc�trotrcu Is ma�lvd by �� .�-
<br /> EiBnQlrClBry tv Trusttr►r�quti5trng pc�yrr:bnf thE��tr.�t. Upon paympnt!n!uN pt�lf Ind9btUBnOSS.Bean��,c�ary sna�►�rern�rly rcrf,n�rc ,:,.
<br /> TruStur tuty Fcinds hatc!byr guna/rct�ry. !/1ha TiuSt Nioparty!y�old undor thn puwo��l salU vr tttu 7�usf Prv�U�ty ly vUtUnvrs[�at�quuud
<br /> by 13QItQhLinry.(ionp6crery 5h�ll ppply.�mm����rery p►ior ra rnu sn�o u�r►►v r•�sr��ovu►r�v►�rs r�c�ui�iUcm by L3e►tllh�tiruy.;ury Ftur�is
<br /> � Irc�ld by lip�rolu;lpry t+F thp limU ol[�p/�bet�t�vn�s Q trad�t a�g/utnst fho Indobtoclni�ss 1/ldvnnhCirt►y ea��t.•utus a wnfld�i t�;trv��r rt)rusti+r�:
<br /> � �� Gt�`,�jEll�Un�urulUr this F�aragrep/r 4. t�u,tn�r_t��t+ntrnlJ G�tf/la�'IyOJ tt�ji;1y, btlltn�fhn,=.arn�r UtTr.tunn(fob�t�7uetrl. t►�itsras.riss�s:ern���,�;
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