|
�� 5
<br />� -
<br />�e r � �I
<br />�� ��� �
<br />N �
<br />0 —
<br />� -
<br />� -
<br />-
<br />-
<br />�� IS DEED OF TRUST, is made as
<br />�� among Tim C. P1ate, a si�
<br />("Trustee"), whose mailing address
<br />Jaaob
<br />�- ..,
<br />1�6�4'il
<br />DEED OF TRUST �� �- � D
<br />r � � z —1
<br />r � � . .� m
<br />l�, � Sy � `� `°�' � - � o
<br />� ,� �� � o �,� W o- �
<br />.� , .—` s' ;» a- 6 � Z
<br />� � � � � Z R7
<br />� � � r.n - U D W
<br />'p -� � f" 7D
<br />� �o � �, r n
<br />� ;� -a o �, N �
<br />� � � r � " �
<br />1 f"rl p--� v `�
<br />� r � � �
<br />� � �_
<br />�lst day of �r.0 �. � � _� � 2012 � bY
<br />person ("Trustor" , whoae mailin addresa is
<br />nd NE. 68803• Kevin Brostrom, �ttorney-a� Law
<br />. Koeni� St., Grand Islan , Ne.
<br />and Plate Enter rises LLC ('Beneficiary")
<br />whose mailing addreas is 2209 E Sto11Y Park Road, Gran Is an , NE.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and asaigns to ZYvstee, IN TRUST, WITH
<br />POVYEft OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this Deed of Trust,
<br />the real property located in the City of Grand Island , County of
<br />Hall State of Nebraska, and legally described as follows the "Pro erty" •
<br />Part of the Northeast Quarter of the Northwest Quarter �NE$NW�) o��Section Twenty-Two
<br />(22), Township Eleven .�or� �a����u�larl �e�cr�b�dW�nta��acI�ed6�x-h�ib�iE'AHall County, Ne.
<br />TOGETHEft WITH, all rents, ease en , appurten�nces, ere taments, interests in adjoining roads, streeta and alleys,
<br />improvements and buildings of any kind aituated thereon and all personal property that may be or hereafter become an integral
<br />part of such buildings and improvements, all crops raiaed thereon, and a11 water rights.
<br />The Property and the entire estate and interest conveyed to the Z4�ustee are referred to collectively as the "Truat Estate".
<br />FOft TI� PURPOSE OF SECURING:
<br />a. Payment of indebtness in the total principal amount of $ 300 , 000 . 00 , with intereat thereon, ae evidenced by that
<br />certain promissory note of even date (the"Note") with a maturity date of Au�us t 1, 202 7 ,
<br />executed by Trustor, which has been delivered and ia payable to the order of Beneffciary, and which by this refereace is hereby
<br />nnade a part hereo� and any and all motiifications, extenaions and renewala thereo� and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of
<br />Four & One Ha�rcent ( 4� %) per annum, and
<br />c. The performance of Trustor's covenants and agreements.
<br />This Deed of 7Yust, the Note, and any other instrument given to evidence or further aecure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the"Loan Instruments".
<br />TO PROTECT TI� SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. 1Yustor shall pay when due tFie principal of, and the interest on, the indebtedneas
<br />evidenced by the Note, charges, fees and all other aums as provided in the Loan Instruments.
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and sgecial assessments of every kind, now or hereafter levied
<br />against the trust estate or any part thereof as follows:
<br />(initi�one)
<br />X� Trustnr shall directly pay such taxea, without notice or demand as each installment comes due and ahall
<br />provide the beneficiary with evidence of the payment of the same.
<br />1'rustor shall pay to beneficiary one-twelf�h of tbe real eatate taxes each month and such other assessments
<br />as they become due. The one-twelfth payment shall be adjusted annually as the taxes change and trustor agrees that
<br />aftQr payment of the taxes each year that any deficiency will be promptly paid to Beneficiary. Beneficiary agreea
<br />to provide trustor with receipts showing that the real estate tases have baen paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor ahall maintain fire and extended coverage insurance ineuring the improvements
<br />and buildings constituting part of the Trust Estate for an amount no less than the amount of the unpaid principal balance of the
<br />Note (co-insurance not excesding 80%n permitted). Such insurance policy shall contain a standard mortgage clause in favor of
<br />Beneficiary and shall not be cancellable, ter�unable or modifiable without ten (10) days prior written notice to Beneficiary.
<br />Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof ao that, except for ordinary wear and
<br />tear, the Trust Eatate ahall not deteriorate. In no event ahall the ZYuator commit waste on or to the 14�ust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor ahall appear in and conteat any action or proceeding purporting to
<br />affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and egpenses, including cost of
<br />evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary or Trustee may appear. Should Trustor
<br />fail to make any payment or to do any act as and in the manner provided in any of the Loan Instruments, Beneficiary and/or
<br />Truatee, each in its own discretion, without obligation so to do and without notice to or demand upon Trustor and without
<br />releasing Trustor from any obligation, may make or do the same in such manner and tfl such euteat as either may deem
<br />necessary to protect the security hereo£ Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and
<br />expensea incurred by Beneficiary in connection with the eserciae by Beneficiary of the foregoing righta, '(eluding without
<br />limitation costs of evidence of title, court coats, appraisals, aurveys and attorney's fees. Any such costs and�xpeases not paid
<br />within ten (10) days of written demand shall draw intereat at the default rate provided in the Note. �
<br />5. EMINENT DOMAIN. Shouid the Trust Eatate, or any part thereof or interest therein, he taken or �amaged by reason of
<br />any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condemnation
<br />("Condemnation"), or should Trustor receive any notice or other information regarding such proceeding, Truator shall give prompt
<br />written notice thereof to Beneficiary. Beneficiary ahall be entitled to all compensation, awards and other payments or relief
<br />therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name any action or groceedings.
<br />Beneficiary shall alao be entitled to make any compromiae or aettlement in connection with auch taking or damage. All auch
<br />compensation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds'7 are hereby asaigned to
<br />Beneficiary and Trustor agreea to execute such further assignments of the Proceeds as Beneficiary or Trustee may require.
<br />6. FLTTURE ADVANCES. Upon request of Trustor, Beneficiary, at Beneficiary's option, prior to reconveyance of the Property
<br />to Trustor may make future advances to Z�ustor. Such future advances, with intereat thereon, shall be secured by this Deed of
<br />1Yust when evidenced by promissory notes atating that said notes are secured hereby.
<br />7. APPOINTMENT OF SUCCESSOR TRUSTEE. Beaeficiary may, from time to time, by a written instrument executed and
<br />acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Trust Eatate is located and by
<br />� otherwise complying with the provisior^ of the applicable law of the State of Nebraska substitute a successor or aucceseors to
<br />the Trustee named herein or acting he� ider.
<br />8. SUCCES50RS AND ASSIGN5. This Deed of Trust appliea to, inures to the beaefit of and binds ail parties hereto, their
<br />heirs, legateea, divorcee, personal representatives, auccessors and assigns. The term "Beneficiary" shall mean the owner and
<br />holder of the Note, whether or not named as Beneficiary herein.
<br />9. INSPECTION. Beneficiary or its agent may make reasonable entries upon and inspections of the Property. Beneficiary
<br />ehall give 14vstor notice at the time of or prior to an inapection specifying reesonable cauae for the inspection.
<br />�
<br />�
<br />�
<br />�
<br />�
<br />--`=----� -. -___� -- --..
<br />Rev. 8/95
<br />
|