201603117 - Laserfiche WebLink

Browse

t , 20160311/ Grand Island,NE 68801 Beneficiary Heritage Bank 1333 N. Webb Road PO Box 5138 Grand Island,NE 68802 1. Conveyance. For good and valuable consideration,the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt(defined below)and.Trustor's performance under this Security Instrument,Trustor irrevocably grants,conveys and sells to Trustee,in trust for the benefit of Beneficiary,with power of sale,the following described property: Lot One(1),Logan's Subdivision,Hall County,Nebraska. The property is located in Hall County at 3804 S Stuhr Rd,Grand Island,Nebraska 68801. Together with all rights,easements,appurtenances,royalties,mineral rights,oil and gas rights, all water and riparian rights,ditches,and water stock and all existing and future improvements, structures,fixtures,and replacements that may now,or at any time in the future,be part of the real estate described above(all referred to as "Property"). 2. Maximum Obligation Limit. The total principal amount secured by this Security Instrument at any one time shall not exceed$25,000.00. This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also,this limitation does not apply to advances made under the terms of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this Security Instrument. 3. Secured Debt and Future Advances. The term "Secured Debt"is defined as follows: (A)Debt incurred under the terms of all promissory note(s),contract(s),guaranty(ies)or other evidence of debt described below and all their extensions,renewals,modifications or substitutions. The promissory note signed by Brent J Schimmer and Jennifer L Schimmer(the "Borrower") and dated the same date as this Security Instrument(the "Note"). The Note states that Borrower owes Lender twenty five thousand and 00/100 Dollars(U.S. $25,000.00)plus interest. Borrower has promised to pay this debt in regular periodic payments and to pay the debt in full not later than August 1,2021. (B)All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any promissory note,contract,guaranty,or other evidence of debt executed by Trustor in favor of Beneficiary after this Security Instrument whether or not this Security Instrument is specifically referenced.If more than one person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by any one or more Trustor,or any one or more Trustor and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced.All future advances and other future obligations are secured as if made on the date of this Security Instrument.Nothing in Deed Of Trust Closed End-NE Bankers Systems,"VMP® 03/2018 Wolters Kluwer Financial Services®2014 2016050916.1.0.3454-N20160318N Page 2 0110 2