86106896 - Laserfiche WebLink

Browse

$�' • �{�sa8� Deed '`of Trust 19_g6 , by and between Richard B. Wieck —.,.. I z, Wftther one or more, (hereinafter called the " Trustor"), mailing address is - , (hereinafter bdthe "Bet►eficimy),whosem&VhVaddressis ru +SOx <tros urana island; NX 066t)L WITNESSETH.` IF THiS SOX IS CHECKED( J THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION $ECURITY AGREEMENT UNDE4THE NEBRASKA CONSTRUCTION LiEN ACT AND CREATES, GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY WHEREA �nu � drddebted to Beneficiary in the principal sum of T^ - -- Dollars ($ • WO ), which indebtedness is evidenced by Trusty's prof r issory le dated 19 _ , (hereinafter caged the "Note'), payable to Me order of Beneficiary and having a maturity of June 15 1991 NOW, THEREFORE, for the purpose of securing: (a) payment of the Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions, mo 0cabons, substitutions and renewals thereof, (b) payment of all other sums, fees or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and dw performance of the covenants and agreements of Trustor, whether or not set forth herein, (c) pertorrmance, discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein or incorporated by reference or any other security instrument at anytime given to secure the Note, and (d) the repayment of all other sums or future advances, with interest thereon, which may heretofore have been or hereafter be advanced by Beneficiary to Trustor or Trustor's successor in interest or title, all of which is hereinafter collectively called the -'indebtedness ". Trustor irrevocably grants and transfers to Trustee, in trust, WITH POWER OF SALE, the following described property: See Attached Exhibit 'A' ?ogeftw with (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter located thereon, (e) all equipment, machinery and fixtures (including, without limitation, aft lighting, healing, ventilating, cooling, air conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens. dishwashers, mirrors and mantels, carpeting, furnaces, oil bumers, elevators and motors, reingeratiat plants or units, communication systems, dynamos, transformers, electrical equipment; storm and screen windows,doors, awnings and shades) now or hereafter attached to. or built in, any building or improvement now or hereafter located thereon, (N) all easements and rights of way appurtenant thereto. (iv), all leasehold estate, right, title and interest of Trusts in and to as leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits, advance recitals and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject to the night of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as no event of default exists hereunder), (vi) all royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, (vii) all tenements, hereditaments, privileges and appurtenances belonging, used or en)oyed in connection therewith, and (viii) all proceeds of conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including, without limitation, proceeds of insurance and condemnation awards), all of which is hereinafter collectively called the "Trust Properly"'. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. Title. Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property free from any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first Lien on the Trust Property, 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 Property and will forever warrant and defend the validity and priority of the ken hereof against the claims of ail persons and parties whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be fifed and 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 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 be amended or supplemented from tkme to time. Trusty will make such further assurance or assurances to perfect its title to the Trust Property as may be required by Beneficiary . Trustor hereby relinquishes alt right of dower and homestead in and to the Trust Property. 2. Payment of Indebtedness. Trustor shall punctually pay the principal of and interest on the Indebtedness secured hereby. 3. Cormtructoon of Improvements. Trustor she' complete in good and warkmardike manner any buildings, improvements or repairs relating thereto which may be begun on the Trust Property or contemplated by the ban evidenced by the Note secured hereby, to pay when due all frosts and liabilities incurred therefore, and not to pernut any construction ken against such Trust Property. In the evert conswc9on of buddings, improvements or repairs are contemplated, Trustor also agrees, anything in this Deed of Trust to the contrary notwithstanding, (a) to promptly commence any such work and to complete the proposed improvements promptly, (b) to complete the same in accordance with the plaits and specifications as approved by Beneficiary, (c) to comply with all the terms of a building loan agreement it arty, between Trustor and Beneficiary, the terms of which are incorporated herein by reference and made a part hereof, (d) to allow ,Beneficiary to inspect the Trust Property at all times during construction, and (e) to replace any work or materials urmalisfactory to Beneficiary within fiffeen (15) days alter written notice from Beneficiary of such fact. 4. Funds for Payment of Charges. Subject to applicable law or to a written waiver by Beneficiary, Trustor shall pay to Beneficiary on the "day of each month, or such other date each month as may be specified by Beneficiary, until the Indebtedness is paid in full, a sum (ferule called the -Funds") equal to 11' 121h of the yearly taxes and assessments which may attain priority over this Deed of Trust and ground rents on the Trust Property, if any, plus 11 12th of the yearly premium installments for hazard insurance, plus 1112th of the ysuHy prankm iririents for mortgage irtstrrarroe, it any. all as reasonably estimated initially and from time to time by Beneficiary on dn! basis d aa4essrrants end bid mud reastxrable estimates thereof The Funds shall be held in an institution, the deposits or accounts of which are inaured or guaranteed by a federal or state agency including Beneficiary. Beneficiary shall apply the Funds to pay said terra, . insurance pramiwns and ground rents. Beneficiary shall not be required to pay Trustor any interest or eetrterga on the Funds. Ben ficiary suet give to Trusts wwrout charge, an annual accounting of the Funds showing credits and debMs to &te Funds and ft purpose for which each debit to the Funds was made. The Funds are pledged as additional security for ttte kmbbledriess secured by this Deed of Trust. N the amount of the Funds held by Beneficiary, together with the twture monthly mota lnlents of Funds payable prior to the due dates of tares; assessments; insurance premiums and ground rents, shall exceed the anxw t tsquired to pay said taxes• assessments. insurance premiums and ground rents as they fall due, such excess shalt be, at Tngdet's opkibn; &WW Pf"Prh' r0Pad to Trustor Or Credited to Trustor against future monthly instailrrterits of Funds. if the amount of 00 Ft+#14ft held by Ben W&V Shell n0( b@ serf mW to pay taxes, assessments, insurance premiums and ground rents as they fall due. Tr4efer plait prhr to any anoint necessary to make up the deficiency within thirty days from the date notice is mailed by OWWOOSPY to T4000t rsgwea&W Payment thereof Upon payment in of all indebtedness. Ben oliciary shall promptly refund to FnAMW arty Funds hekt by Berieftiary, N the Trust Property is sold under the power of sale or the Trust Property is otherwise acquirer; by cry shtel sooty, lehy prior ro the sal® of the 'Crust Prt>perty car its acclu?s.�tirrrr �y f3erreisc+ary, ran} l iarhis heal by at me tirne ol st%n as a credit against the ItsdebtecfrTess. if flenehiCiary axet;ules � »ri•te? war a f;� .�c i 's autda® the tkrragtapri 4, TruBAx C ; `aced tipsy, berorfl sarn� t�e?t'onre� c7t�dv`FC7..�r,,. �a.t t t ;es. tssc'ssrntrr?ts.