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P.O.
<br />called the
<br />OF TRUST is made this 17th day of November
<br />addressis Mute Z. Box iUb. Grand Isla'
<br />qSnCTATTnN
<br />1768, Grand eland, NE and NORWEST Bi
<br />xleficiary" ), whose mailing address is P • 0. Box 1
<br />86- 106681 Deed of Trust
<br />19 $ , byand between Maynard J. Stelk grid
<br />_ 'whether one or more, ( here,nafter called the "Trustor "),
<br />WITNESSETH:
<br />IF THiS BOX iS CHECKED ( j THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION
<br />SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES,
<br />GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY
<br />DESCRIBED HEREiNBELOW.
<br />mailing address is
<br />_ , (hereinafter
<br />WHEREAS. Trustor is indebted to Beneficiary in the principal sum of _
<br />Cedars (3 ), which indebtedness is evidenced by Trustor's pro s o note dated 19 . (he a n�/ter
<br />called the "Note'), payable to the order of Beneficiary and having a maturity ofT.V9.ary 1S lend �e6ivary I5, r1491
<br />NOW THEREFORE, for the purpose of securing:
<br />(a) payment of the Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions,
<br />modffrcabons, substitutions and renewals thereof,
<br />(b) payment of all other sums, fees or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and
<br />the performance of the covenants and agreements of Trustor, whether or not set forth herein.
<br />(c) performance, discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein or
<br />incorporated by reference or any other security instrument at anytime given to secure the Note. and
<br />(d) the repayment of all other sums or future advances, with interest thereon, which may heretofore have been or hereafter be advanced
<br />by Beneficiary to Trustor or Trustor's successor in interest or title,
<br />all of which is hereinafter collectively called the "Indebtedness ", Trustor irrevocably grants and transfers to Trustee, in trust. WITH POWER
<br />OF SALE, the following described property: The Northeast Quarter of the Northwest Quarter (NE14NWk) and the
<br />West Half of the Northwest Quarter (WkNWk) of Section Thirteen (13), Township Ten (10), North,
<br />Range Ten (10) West of the Sixth P.M., in Hall County, Nebraska; and The Northwest Quarter of
<br />the Northwest Quarter (NW'ZM14) and the West Half of the Northeast Quarter of the Northwest
<br />Quarter (ANEhNW1t), of Section Fourteen (14), in Township Ten (10), North, of Range Ten (10),
<br />West of . h P.M. in Hall Cc1�mty, Nebraska.
<br />together hrr) �fldings, structures, akatons, enlargements, modifications, repairs, replacements, and improvements now or hereafter
<br />located thereon, (if) all equipment, machinery and fixtures (including, without limitation, all lighting, heating, ventilating, cooling, air
<br />conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels,
<br />carpeting, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical
<br />equipment, storm and screen windows, doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement
<br />now or hereafter located thereon, (m) all easements and rights of way appurtenant thereto, (w), all leasehold estate, right, title and interest of
<br />Trustor in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits,
<br />advance rentals and deposits or payments of a similar nature,), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject
<br />to the right of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as no event of
<br />default exists hereunder), (vi) all royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, (vhf) alt tenements,
<br />hereditaments, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including, without limitation, proceeds of insurance and
<br />condemnation awards), all of which is hereinafter collectively called the "Trust Property".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br />1. Title. Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property free
<br />from any prior ken or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property,
<br />that Trustor, at its expense, will preserve such title and will maintain this Deed of Trust as a first and paramount lien upon the Trust
<br />Property and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties
<br />whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and
<br />recorded as a mortgage of the Trust Property in such manner and in such place and will take such action as in the opinion of Trustee
<br />may be required by any present or future law in order to perfect, maintain and protect the lien of this Deed of Trust, as the same may
<br />be amended or supplemented from time to time. Trustor will make such further assurance or assurances to perfect its title to the Trust
<br />Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property.
<br />2. Payment of indebtedness. Trustor shall punctually pay the principal of and interest on the Indebtedness secured hereby.
<br />3. Constructor, of Improvements. Trustor shall complete in good and workmanlike manner any buildings, improvements or repairs relating
<br />thereto which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when
<br />due alt costs and liabilities incurred therefore, and not to permit any construction lien against such Trust Property. In the event
<br />Construction of buildings, improvements or repairs are contemplated, Trustor also agrees. anything in this Deed of Trust to the contrary
<br />notwithstanding; (a) to promptly commence any such wok and to complete the proposed improvements promptly, (b) to complete the
<br />same in accordance with the plans and specifications as approved by Beneficiary, (c) to comply with all the terms of a building loan
<br />agreement, it any, between Trustor and Beneficiary, the terns of which are incorporated herein by reference and made a part hereof,
<br />(d) to allow Beneficiary to inspect the Trust Property at all times during construction, and (e) to replace any work or materials
<br />unsatisfactory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact.
<br />4. Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary. Trustor shall pay to Beneficiary on the
<br />first day of each month, or such otter date each month as may be specified by Beneficiary, until the Indebtedness is paid in full, a sum
<br />(hereinafter caged the "Funds') equal to 1/121h of the yearly taxes and assessments which may attain priority over this Deed of Trust
<br />and ground rents on the Trust Property, it any, plus 1 12th of the yearly premium installments for hazard insurance, plus 1; 12tH of the
<br />yearly premium installments for mortgage insurance, if any, ail as reasonably estimated initially and from time to time by Beneficiary on
<br />ft basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution, the deposits or
<br />accounts of which are insured or guaranteed by a federal or state agency including Beneficiary. Beneficiary shall apply the Funds to
<br />pay said faxes, assessments, insurance premiums and ground rents. Beneficiary shag not be required to pay Trustor any interest or
<br />Wnfngs on the Funds. BWONCrary shag give to Trustor, without charge, an annual accounting of the Funds showing credits and
<br />dates to the funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for
<br />Me Mdebledness secured by this Deed of Trust. N the amount of the Funds held by Beneficiary, together with the future monthty
<br />of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the
<br />emotatt.required to pay said , assessments, insurance premiums and ground rents as they tali due. such excess shall be, at
<br />Truatol'a option, e).ther promptly repaid to Trustor or credited to Trustor against future monthly instalments of Funds. It the amount of
<br />the Funds held by Beneficiary shaft not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they tor)) due,
<br />Tnrstor std pay to lorry any amount ne�essety ttr make up the deficiency within lh:irty days f.*cam trie tiara ncrt. +ce �s meriiaa by
<br />' to Tnrshrr r payment thereof [!porn payment in lull t?f a)) lr,debtedrress, t3ctneticiar} shay! j:rOrtlptiy : crtuno tt!
<br />Trur�ILrr- .may- fitertda .'tMkl Gy vary- )1 tlYe 1.iu5f PrtYpfsrty is �gld UrMfer the ):xtwer of se�te rzr the Trust a' t)pc�fy tc ntr+erwisr3 �rC�:rrrr�c!
<br />S,
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