|
201200503
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debt (hereafter defined), Trustor irrevocably grants, conveys and sells to Trustee,
<br />in trust for the benefit of the Beneficiary, with powar of sele, the following described property:
<br />An undivided one•third (113rd1 interest in Lot One (1) except the North 42 feet of Medical Park Fourth Additon to the City of
<br />Grand Island, Hall County, Nebraska
<br />The property is located in H811 at 620 Alpha Street
<br />(County)
<br />, Grand Island , Nebraska 68801
<br />(Address) ICity) (Zip Code)
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops,
<br />timber, all diversion payments or third party payments made to crop producers, and all existing and future
<br />improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of
<br />the real estete described above (all referred to as "Property"). The term Property also includes, but is not
<br />limited to, any and all water wells, water, ditches, reservoirs, reservoir sites and dams located on the real
<br />estate and all riparian and water rights associated with the Property, however established. ' °
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured
<br />by this Deed of Trust at any one time shell not exceed S 237,OOQ.00 _ . This
<br />limitation of amount does not include interest, loan charges, commitment fees, brokerage commissions,
<br />attorneys' fees and other charges velidly made pursuant to this Deed of Trust and does not apply to
<br />advances (or interest accrued on such advances) mede under the terms of this Deed of Trust to protect
<br />Beneficiary security and to perform any of the covenants contained in this Deed of Trust. Future advances
<br />are contemplated and, along with other future obligations, are secured by this Deed of Trust even though all
<br />or part may not yet be advanced. Nothing in this Deed of Trust, however, shall constitute a commitment to
<br />make additional or future loans or advances in any amount. Any such commitment would need to be agreed
<br />to in a separate writing,
<br />4. SECURED DEBT DEFINED. The term "Secured Debt" includes, but is not limited to, the following:
<br />A. The promissory note(s►, contract(s), guaranty�ies) or other evidence of debt described below and all
<br />extensions, renewals, modifications or substitutions (Evidence of Debtl. (When referencing the debts
<br />be%w it is suggested that you include items such as borrowers' names, noie amounts, inte�est raies,
<br />maturity dates, etc.J
<br />5237,000 note of even date
<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary
<br />under any promissory note, contract, guaranty, or other evidence of debt existing now or executed
<br />after this Deed of Trust whether or not this Deed of Trust is specifically referred to in the evidence of
<br />debt. - �
<br />C. All obligations Trustor owes to Beneficiary, which now exist or may later arise, to the extent not
<br />prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit
<br />account agreement between Trustor and Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or
<br />otherwise protecting the Property and its value and any other sums advanced and expenses incurred
<br />by Beneficiary under the terms of this Deed of Trust, plus interest at the highest rate in effect, from
<br />time to time, as provided in the Evidence of Debt.
<br />E. Trustor's performance under the terms of any instrument evidencing a debt by Trustor to Beneficiary
<br />and any Deed of Trust securing, guarantying, or otherwise relating to the debt.
<br />Security Instrumerrt-Commercial/Agricultural-NE AGCO-RESI-NE 7/1/2011
<br />VMP� Bankers SystemeTM VMP-0596(N� (1107).00
<br />Wolters Kluwer Flnanclal Services OO 1993, 2011 Page 2 of 10
<br />�
<br />/
<br />
|