|
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 power of sale, the following described property:
<br />LOTS FIVE (5) AND SIX (6), BLOCK ONE (1), ORIGINAL TOWN OF DONIPHAN, HALL COUNTY, NEBRASKA, EXCEPT THE SOUTHERLY SIXTY (60)
<br />FEET OF THESE LOTS DEEDED TO ALBERT MAUL AND ROSE MAUL AS RECORDED IN BOOK 100 AT PAGE 477 OF THE DEED RECORDS OF HALL
<br />COUNTY, NEBRASKA
<br />The property is located in HALL
<br />Security Instrument- Commercial /Agricultural -NE
<br />VMP® Bankers SystemsTM
<br />Wolters Kluwer Financial Services 01993, 2011
<br />(County)
<br />at 105S7NDST
<br />DONIPHAN Nebraska 68832
<br />(Address) (City) (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 estate 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 />MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured
<br />by this Deed of Trust at any one time shall not exceed $ 60,000.00 This
<br />limitation of amount does not include interest,- loan charges, commitment fees, brokerage commissions,
<br />attorneys' fees and other charges validly made pursuant to this Deed of Trust and does not apply to
<br />advances (or interest accrued on such advances) made 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 />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 Debt). (When referencing the debts
<br />below it is suggested that you include items such as borrowers' names, note amounts, interest rates,
<br />maturity dates, etc.)
<br />BOD LOAN DATED 12-15-14, LOAN #702812 41800
<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 />AGCO- REST -NE 7/1/2011
<br />VMP- C5951NE) 1110700
<br />Page 2 of 10
<br />
|