|
Deed of Trust
<br />(Nebraska)
<br />200101414
<br />This Trust Deed, made this 26th day of February, 2001, between David N. Ogden and Julie A. Ogden, husband and
<br />wife, whose address is 15802 Old Military Road, Wood River, NE, 68883, Trustor, and Bruce I. Smith, Attorney at
<br />Law, whose address is P. O. Box 790, Grand Island, NE 68802, Trustee,
<br />Witnesseth: That Whereas, Trustor has executed one certain Deed of Trust Note bearing even date herewith and drawn to
<br />the order of Metropolitan Life Insurance Company, hereinafter called Beneficiary, for the principal sum of -- -TWO
<br />HUNDRED FIFTY THOUSAND - -- Dollars ($250,000.00), payable in lawful money of the United States which shall be
<br />legal tender in payment of all debts and dues, public and private, at the time of payment, payable in installments, the final
<br />installment due March 15, 2021, with interest thereon from the date of disbursement as therein provided.
<br />And Whereas, Trustor is desirous of securing the prompt payment of said Deed of Trust Note and all interest and charges
<br />thereon, in whose hands soever the same may be.
<br />Now, therefore, Trustor, in consideration of the premises, and for the purpose aforesaid, hath granted, bargained, sold,
<br />and conveyed, and hereby does grant, bargain, sell and convey unto the Trustee, in trust, with power of sale, pursuant to
<br />the Nebraska Trust Deeds Act (Section 76 -1001 et. seq.), all the following described real estate, premises and
<br />property, situate in the County of Hall and State of Nebraska, to wit:
<br />The Southwest Quarter of Section Twenty- three, Township Ten North, Range Twelve West of the Sixth Principal
<br />Meridian, Hall County, Nebraska, together with all crops grown thereon, excepting therefrom a tract of land more
<br />particularly described in Quit Claim Deed in Book 79, Page 337 and excepting therefrom a tract of land more particularly
<br />described in Warranty Deed recorded as Document 79- 001619.
<br />The North Half of the Northwest Quarter of Section Twenty -six, Township Ten North, Range Twelve West of the Sixth
<br />Principal Meridian, Hall County, Nebraska, together with all crops grown thereon, excepting therefrom a tract of land
<br />more particularly described as Lot One (1), D & J Subdivision, Hall County, Nebraska.
<br />The Note secured hereby expressly provides that the holder thereof may at its option change or adjust the interest rates
<br />set forth therein.
<br />This Deed of Trust is given to secure a Deferred Purchase Money Note, which represents funds advanced by
<br />Beneficiary to pay for the balance of the purchase price paid to the grantor for said land and is to be deemed given for
<br />the purchase price and the continuation of the original Vendor's lien on said premises.
<br />It is agreed that all irrigation pumps, motors, engines pipes, sprinklers, control panels and accessories, and all other
<br />irrigation equipment together with all water and watering rights of every kind and description, and all improvements,
<br />fixtures and appurtenances connected therewith now or hereafter placed or installed on said premises shall be construed
<br />as affixed to and a part of the real estate hereinabove described and subject to all of the provisions of this Deed of
<br />Trust.
<br />The Note secured by this Deed of Trust is further secured by a Financing Statement and Security Agreement of even
<br />date herewith, covering all equipment, improvements, fixtures and appurtenances as described in said Financing
<br />Statement and Security Agreement.
<br />Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents,
<br />issues and profits of the property and of any personal property located thereon with or without taking possession of the
<br />property affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to
<br />Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and retention of such rents, issues and profits
<br />as they accrue and become payable, so long as Trustor is not, at such time, in default with respect to payment of any
<br />indebtedness secured hereby, or in the performance of any agreement hereunder. If any event of default described
<br />hereafter in respect to this Deed of Trust shall have occurred and be continuing, Beneficiary, as a matter of right and
<br />without notice to Trustor or anyone claiming under Trustor, and without regard to the value of the trust estate or the
<br />interest of the Trustor therein, shall have the right to apply to any court having jurisdiction to appoint a receiver of the
<br />property. It is further agreed that in case of default in the payment of the said principal Deed of Trust Note or interest, or
<br />any part thereof, as it shall mature, or in the case of failure to keep or perform any of the covenants or agreements
<br />contained in this Deed of Trust, then the Beneficiary, its successors or assigns, shall be and is hereby authorized and
<br />empowered to take immediate possession of the said premises hereby conveyed and all crops thereon, or to collect the
<br />rents therefrom, and to apply the proceeds thereof to the payments of the debt hereby secured.
<br />1
<br />
|