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<br /> � DEED OF TRUST ' . � .
<br /> AND CONSTRUCTION SECURITY AGREEMENT � � � ':=���-�
<br /> � ,_:
<br /> :. '� TH(S DEED OF TRUS�,Is made ae ol the�_dey ol_EeU*��a*v .„]997.by md�monp th�Tnttl . ' ,_�'`�r�''-
<br /> Sta�ostka Homes. Tnc.. 807 West 4th. Grand Tsland, NE 68801 . (hereh•eortoww'), .;;;;_._: `
<br /> ' �ha Trustee, _ Archer Coouerative Credit Union, PO Box 248, Archer, NE 68816 �hadn KN���e•�� ;.�t
<br /> " Rnd Ihe Be��Ilcl�ry,A�cher Coonerati.ve Cr.edi.t Un3.c�n, k0 Box T.48n Archex, IV.F 6A816 (h�r�y �- _
<br /> 'Lender'). ,_.�z:.-
<br /> i� '�-
<br /> � FOR VALUABLE CONSIDERATION,InCiuding Ihe Indcbtednesa idenlllied hadn and lha lruat heraln created, lhe recelpl ol v�hlch Is '�w�rti�
<br /> " �,. her�by ecknowt�dyad, earowor haeby�revuc�bly yrante,tru��tera,conveys �nd uilpns lo Tntstu, IN 1RUST. WITH POWER QF 3111E,lor �"-`�M
<br /> the bcne(it and sewrity ot Lmder, under and subJsct to the tcrms and condiUons hereinatter aet torlh. Ihe real propaly. desctibed as
<br /> ,�, ' foMows: �.,`
<br />_, . �Lot Eight (8), Nbzningside Acres Ttiird Subdivision, in the City of Grand Island, ����
<br />- � Hall County, Nebraska. f-�
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<br />`�� `. '' '�'��' IT IS UNDERSi00D BY BORROWEA ANO LElVDER 1HAT THIS INSTHUMENT, WHICH IS SECURED BY THE ABONE REFEAEKCED
<br /> ����, PAOPERTY, IS A CONSTIiUCYION SECURITY AOREEMENT AND THAT IT 00£S OR WiLL SECURE AN OHLt(�AATION WHICH THB
<br /> - �. BQRROWER HAS OR YVILL INCUA FOA THE PURPOSE OF MANINO AN IMPRQSfEMENT OR IMPR�VEMENT3 ON PFi0PER1Y
<br />�`"==_ ='�''-"� HER�iNUEFaRE DESCRIBED.
<br />�".,.��t%:r� .
<br /> ....__.,_y�,.-`=_� Topether with aq buading�, knprovements, NcNrca,atroets, atloys, paaaaflewaye, easemonts, dphts, pdvRcpea and apputtonancoa bcaled
<br />�;-r��;;;�;;. Ihareon or In anywise pert�{ning lhereto,�nd ihs rmis,Isaues a�d profils, reveralons and remalndae Ihereoh, Indudk�p, bul nol lYniled to.
<br /> ."'�'� heaUn md cooAn
<br />�_= 0 0���Md sucA pa�onal property lh�t Is attached to ths knprnvemaits ao a�to wnsttlut� �Ilxlun;ar ol whkh.
<br />�-°""��.:�•''' incWdhp replacem�nts�nd�dditkx►�thereto.ls henby declared lo be�pul ol the roal estata eecured by the Nan of lhla Oeed ol Trust�nd
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<br /> ``'_�';:; • d ol tha foregolnp bdnp roterted lo heuln as ihe 'Property'. �' _
<br /> - �� Tbla Deed oi Tnisl ehaN sRCUro (a) Iha paymrnt ot the p�incipal eum and�IntereaW evMlenced by BoROwe�s nol� d�lW
<br /> ��:'Y`'.,'��' Februarv 28. 1997 .havin • ry 1997..' . in tha or►p�nd pdndpal�mount of
<br /> -`-:=-��._�:�.;� , p m�tud dato ot Se1pt2lCtbex' 5, —�
<br /> r-«�+s�;�-,. s 100.000.00 and any �nd aq modlIIuUona, cxtmalons.and renowata IhMeof or therclo (herein caq� 'Note); (b) ih� payrnp�t ot
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<br /> _ :-w,,,.�. , otha aums adr�nced by Lender to protect the security of thie Deed o17Yust, with interest Ihereon aa provlded fn the Nole; �nd (c) Ihe
<br /> ���,,�,,,�".�',�" ! perfom�ance ot aM covanants�nd epreemml lo Bortower set(orlh hetcln.
<br /> - .%.,�. � •
<br /> --� -'�� �:�'''` Oortower,to protecl the eecudly ol lhts Deed ol Tiust,covenante and ngrees with lender�s fo0owa: =
<br /> af.--
<br /> •••• •. ; ''', •��'�•,: 1. Payment oi P�tnctpal and latoroet. Bonowcr shaM promptly pay when due Ihe principal ot�nd hterest on,nnd my tees
<br /> ; or charflas providad In, lho Note or ln lhls Qacd ol Trusl. �
<br /> � 2. T'itlo. Borrower is tha owner ol the Propedy, haa Ihe rk�ht and auihoriry to convey the PropMy. a�d wertant� thnt the tlrn �� _
<br /> � crcaled hereby Is�Ikat�nd pdor 6an an the PropMy. excapt�a may otherwise be aet (oAh hereln,and the execullon and delivery of ihis ��`��'-,��:�
<br /> Deed of Trust does noi vlotata any cont�act or olher obllpolton la wllch Borrower is subJeal. -•��'r•r:�'�'
<br /> . . •.:� -
<br /> .� : � � 3. Taxes� ASSOSSments. To pay when due aN taxes, epeclal assesama►ts and aq other charQes�patnat the Property a�d, upon �` �-�-��4
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<br /> wrillen demnnd by Lender,lo pay lo Lender auch amounl aa may be eulticicnt to onnble lhe Lcndcr lo pry such Inxos.assesaments or olher � �. , :..•.
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<br />_ ., 4. InsuranCO. Ta kaep the Propexty Insured agatnst damapo by fire, hazarda Included wilhln the lerm •extended covenpo'. and •�
<br /> , , auch oiha ha:ards �s Lend�r may requke, (n�mounla end with companlea aeceptablo to the lrnder, and with Oose payable to Iha Lrnder. � �
<br /> In cato ot toss under auch polictea, th�Lender la outhorizad to edJust, coqecl and compromise, atl ctalms lhorcunde�and ahap hive th� �
<br /> • oplion ol applyfng aA or pari ot tho Inaunnce proceeds Q)to any kedebtodness encured hereby and In such onlar at Lendot may deiem�lne, � �
<br /> �' , pn to Ihc 8onnwer to bo ueed tor lhe repak oi �astaratlon ol the Propm'y or pfi) for any other purpose or ob�oct aaQslactory to Lender
<br /> without dlectfnn ths Ilen o1 thls DeEd ol Truai for tho tul emounl secured hcreby before such paymenl ever Iook pkce, My �pppc�Uon o! '
<br /> {� : ' proceeds to Indebtedneao shall no►extend ur postpone tAo duo dato ol any peyment� under the Note, or cure �ny d�t�ult Iheteunder or
<br /> hereunda.
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