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<br /> DEED OF TRUST WITH FUTURE ADVANCES t
<br /> THIS DEED OF TRUST,is made as of the 24TH day of JANUARY , � 2000 , by and among �
<br /> �
<br /> the Trustor, ROGER MUCKEL AND KARF.N M 1 K . . , �I BAND AND W T , �'
<br /> whosemailingaddressis 3209 VALLEY VIEW, GRAND ISLAND, NE 688�herein"Trustor",whetheroneormore),
<br /> theTrustee FIVE POINTS BANK, A NEBRASKA CORPORATION
<br /> i;
<br /> ra
<br /> whose mailing address is P.O. BOX 1507 , GRAND ISLAND, NE 68802-1507 (herein"Trustee"),and a:
<br /> the Beneficiary, FIVE POINTS BANK
<br /> whose mailing address is 2015 N. BROADWELL , GRAND I SLAND, NE 68802 (herein"Lender").
<br /> FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to
<br /> (herein "Borrower," whether one or more) and the trust herein created, the receipt
<br /> of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br /> POWER OF SALE, for the benefit and securiry of Lender, under and subject to the terms and conditions hereinafter set forth, the real
<br /> property described as follows:
<br /> LOT SIXTEEN (16) MARYLANE SUBDIVISION, TO THE CITY OF GRAND ISLAND, �,
<br /> HALL COUNTY, NEBRASKA. j
<br /> ��
<br /> Together with all buildings, improvements,fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances `
<br /> located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such per-
<br /> sonal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling equip-
<br /> ment; and together with the homestead or marital interests, if any,which interests are hereby released and waived; all of which, includ-
<br /> ing replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and
<br /> all of the foregoing being referred to herein as the"Property".
<br /> This Deed of Trust shall secure(a)the payment of the principal sum and interest evidenced by a promissory note or credit agree-
<br /> mentdated ,7ANiiARY 24, �nOn , havingamaturitydateof A 7 ,i7ST �4, �nOn ,
<br /> in the original principal amount of $ 150� 000.00 , and any and all modifications, extensions and renewals
<br /> thereof or thereto and any and all future advances and readvances to Borrower(or any of them if more than one) hereunder pursuant
<br /> to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment of other sums advanced by Lender to
<br /> protect the security of the Note; (c)the performance of all covenants and agreements of Trustor set forth herein; and(d)all present and
<br /> future indebtedness and obligations of Borrower(or any of them if more than one)to Lender whether direct, indirect,absolute or contin-
<br /> gent and whether arising by note, guaranty,overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that
<br /> secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and
<br /> assignments of leases and rents,shall be referred to herein as the"Loan Instruments".
<br /> Trustor covenants and agrees with Lender as follows:
<br /> 1. Payment of Indebtedness.All indebtedness secured hereby shall be paid when due. i
<br /> A
<br /> 2. Title.Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien creat- ;;
<br /> ed hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to �
<br /> Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or
<br /> other obligation to which Trustor is subject.
<br /> 3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property
<br /> now or hereafter levied.
<br /> 4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage", and
<br /> such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additional
<br /> named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br /> compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness
<br /> secured hereby and in such order as Lender may determine, (ii)to the Trustor to be used for the repair or restoration of the Property or
<br /> (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
<br /> hereby before such payment ever took place. Any applications of proceeds to indebtedness shall not extend or postpone the due date
<br /> of any payments under the Note, or cure any default thereunder or hereunder.
<br /> 5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, su�cient
<br /> sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against
<br /> the Property, (ii) the premiums on the property insurance required hereunder,and (iii) the premiums on any mortgage insurance
<br /> required by Lender.
<br /> 6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br /> promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deteriora-
<br /> tion of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, suffer
<br /> or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly dis-
<br /> charge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or accessed against the Property or any
<br /> part thereof.
<br /> 7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief(hereinafter
<br /> N8C 3457(Nonagncuhural Deed)Rev.5/96
<br /> OO 7988 Nalional Bank of CommerceTmsl and Savings Association,Lincoln,Nebraska
<br />
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