TRUST DEED WITH FUTURE ADVANCES PROVISION
<br />w
<br />THIS TRUST DEED, is made as of the 21st day of April, 2016 by and among the Trustor, WEINRICH DEVELOPMENT, INC., a
<br />Nebraska Corporation, whose mailing address is PO Box 2235, Grand Island, 68802 (hereinafter referred to as the "Borrower ") and the
<br />Beneficiary, D & A INVESTMENTS, LLC a /k /a D & A INVESTMENTS, L.L.C., a Nebraska Limited Liability Company, whose address is 216 N
<br />Cedar 5t, Grand Island, Ne 68801 (hereinafter referred to as the Lender ").
<br />FOR VALUABLE CONSIDERATION, including the indebtedness identified herein and the trust herein created, the receipt of
<br />which is hereby acknowledged, Borrower herby irrevocably grants, transfers, conveys and assigns the Trustee, IN TRUST, WITH POWER
<br />OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real property,
<br />the following described real estate, to wit:
<br />LOT 7, BLOCK 13, ARNOLD & ABBOTT'S ADDITOIN TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA;
<br />Together with all building, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in any way pertaining thereto, and the rents, issues and profits, reversions and remainders thereof;
<br />including, but not limited to, heating and cooling equipment and such personal property that is attached to the improvements so as to
<br />constitute a fixture; and together with the homestead or marital interest, if any, declared to be a part of the Real Estate secured by the
<br />lien of the Trust Deed and all of the foregoing being referred to herein as the "Property ".
<br />This Trust Deed shall secure the payment of the principal sum and interest evidenced by Borrower's Note dated the 21st day
<br />of April, 2016, in the original principal amount of $10,000 and all other obligations, debts and liabilities, plus interest thereon, of
<br />Borrower to Lender, as well as all claims by Lender against Borrower, whether not existing or hereinafter arising, whether related or
<br />unrelated to the purpose of the aforesaid Note, whether voluntarily or otherwise, whether due or not due, absolute or contingent,
<br />liquidated or unliquidated and whether a recovery upon such indebtedness may be or hereinafter become otherwise unenforceable
<br />and all future amounts Lender in its discretion may loan to the Borrower, together withal interest thereon.
<br />Borrower, to protect the security of this Trust Deed, covenants and agrees with Lender as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on, and any
<br />fees or charges provided in, the Note or in the Trust Deed.
<br />2. Title. Borrower is the owner of the Property, has the right and authority to convey the Property, and warrants that the
<br />lien created hereby is a first and prior lien on the Property, except: None, and the execution and delivery of this Trust
<br />Deed does not violate any contractor other obligation which Borrower is subject.
<br />3. Taxes. The Borrower agrees to pay property taxes. Borrower shall pay when due all special assessments and all other
<br />charges against the property when due.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards including within the term "extended
<br />coverage ", and such other hazards as Lender may require, in at least the amount of the balance due on the Note
<br />secured hereby and with companies acceptable to the Lender, and with loss payable to the Lender. In case of loss
<br />under such policies, the Lender is authorized to adjust, collect and compromise, all claims thereunder and shall have
<br />the option of applying all or part of the insurance proceeds (I) to any indebtedness secured hereby and in such order as
<br />Lender may determine, (II) to the Borrower to be used for the repair or restoration of the Property or (111) for any other
<br />purpose of this Trust Deed for the full amount secured hereby before such payment ever too place. Any application of
<br />proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any
<br />default thereunder or hereunder. The Borrower shall provide the Lender upon Lender's request proof that such
<br />insurance required hereunder has been obtained and is in full force and effect.
<br />5. Maintenance Repairs and Compliance with Laws. Borrower 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 waste
<br />or deterioration of the Property; shall not remove, demolish or substantially alter any act to be done in or upon the
<br />c
<br />a $,
<br />UU
<br />
|