200003463 - Laserfiche WebLink

Browse

Trustor(s): SHERRY L GANGWISH, Trustee for SHERRY L GANGWISH LIVING REVOCABLE TRUST DATED DECEMBER 9, 1996 Mailing Address: PO BOX 530 SHELTON NE 68876 -0530 This Trust Deed and Assignment of Rents is made April 21 2000, by and among the above named Trustor(s) and AgAmerica, FCB, "Trustee," whose mailing address is PO Box TAF -05, Spo kane, Was ington 0 4005, and Farm Credit Services of America, FLCA, "Beneficiary," whose mailing address is 206 S 19th Street, Omaha NE 68102 -1745 in .consideration of the advance by Beneficiary of the principal sum specified below, the receipt of which is ere y ac now a ge , rustor s irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, its successors and assigns, under and subject to the terms and conditions of this Trust Deed, the property, located in Hall County(ies), State of Nebraska, and described as follows: The Northeast Quarter (NE1 /4) of Section Five (5), Township Nine (9) North, Range Twelve (12) West of the 6th P.M. and the Southeast Quarter (SE 1 /4) of Section Thirty -Two (32), Township Ten (10) North, Range Twelve (12) West of the 6th P.M., all in Hall County, Nebraska, excepting Railroad R.O.W. in SE1 /4 of Section 32, Township 10, Range 12, and excepting a 25 foot strip of land to the State of Nebraska per Easement filed January 3, 1958, in Book 5, at Page 321, of the records of Hall County, Nebraska together with all Trustor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, crops, and improvements now on or hereafter placed upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income, profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended or renewed by Trustor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively referred to in this document as the "property." It is understood and agreed between Trustor(s) and Beneficiary that this Trust Deed is given to secure the repayment in full of promissory note(s) in the original principal amount of $ 240 000. 00, and all future and additional loans or advances, protective or otherwise, which may be made by Beneficiary, at its option, at the request o an3to or for the account of Trustor(s), or any of them, for any purpose, plus interest thereon, all payable according to the terms of the note(s) or other instrument(s) modifying the same; provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of TWO HUNDRED FORTY THOUSAND DOLLARS ($ 240 000.00), exclusive of interest and protective advances authorized herein or in the loan agreement(s); provided urt er, that ROT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED. This Trust Deed will be due October 01, 2019. Trustor(s) hereby warrants that Trustor(s) holds fee simple title to the above described property, that Trustor(s) has good and lawful authority to deed and encumber the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Trustor(s) will warrant and defend the property, at Trustor(s) expense, against all claimants whomsoever. Trustor(s) also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. Trustor(s) and each of them further covenants and agrees with Beneficiary as follows: 1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon the property or under any lease, permit, license, or privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or on public domain. 2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Beneficiary. Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to Beneficiary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may be applied, at the option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. Such insurance will be in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail. Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Beneficiary and by the National Flood Insurance Act of 1968, as amended, and by regulations implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable for any failure by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in force. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Beneficiary may enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreement(s). 4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property, buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Beneficiary, at its option, may make such payments or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest at the default rate provided in the note(s) from the date of payment until paid. The advancement by Beneficiary of any such amounts will in no manner limit the right of Beneficiary to declare Trustor(s) in default or exercise any of Beneficiary's other rights and remedies. 5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust Deed, including any action by Beneficiary to enforce this Trust Deed or any suit in which Beneficiary is named a defendant (including condemnation and bankruptcy proceedings) Beneficiary may incur expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses, appraisal fees, and Ap #: 00186333; Primary Customer ID #: 00002466; CIF #: 86811 Legal Doc. Date: April 21, 2000 M m m S D n r'i n Z 2 � D Q to rJ o -a CD rm r) ut rV cv m p M o �'~ H p rn � '� D co p cS o D W ' 200003463 U') fr" fV D Cn W r-+ Do not write /type above this line. for filing purposes only. FORM 5011 (11 -99) RETURN TO Farm Credit Services of America, P.O. Box 250 Edith Wicht PRE'PARER: Kearney, NE 68848 -0250 (800)454 -2039 Farm Credit Services of America TRUST DEED AND ASSIGNMENT OF RENTS Trustor(s): SHERRY L GANGWISH, Trustee for SHERRY L GANGWISH LIVING REVOCABLE TRUST DATED DECEMBER 9, 1996 Mailing Address: PO BOX 530 SHELTON NE 68876 -0530 This Trust Deed and Assignment of Rents is made April 21 2000, by and among the above named Trustor(s) and AgAmerica, FCB, "Trustee," whose mailing address is PO Box TAF -05, Spo kane, Was ington 0 4005, and Farm Credit Services of America, FLCA, "Beneficiary," whose mailing address is 206 S 19th Street, Omaha NE 68102 -1745 in .consideration of the advance by Beneficiary of the principal sum specified below, the receipt of which is ere y ac now a ge , rustor s irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, its successors and assigns, under and subject to the terms and conditions of this Trust Deed, the property, located in Hall County(ies), State of Nebraska, and described as follows: The Northeast Quarter (NE1 /4) of Section Five (5), Township Nine (9) North, Range Twelve (12) West of the 6th P.M. and the Southeast Quarter (SE 1 /4) of Section Thirty -Two (32), Township Ten (10) North, Range Twelve (12) West of the 6th P.M., all in Hall County, Nebraska, excepting Railroad R.O.W. in SE1 /4 of Section 32, Township 10, Range 12, and excepting a 25 foot strip of land to the State of Nebraska per Easement filed January 3, 1958, in Book 5, at Page 321, of the records of Hall County, Nebraska together with all Trustor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, crops, and improvements now on or hereafter placed upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income, profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended or renewed by Trustor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively referred to in this document as the "property." It is understood and agreed between Trustor(s) and Beneficiary that this Trust Deed is given to secure the repayment in full of promissory note(s) in the original principal amount of $ 240 000. 00, and all future and additional loans or advances, protective or otherwise, which may be made by Beneficiary, at its option, at the request o an3to or for the account of Trustor(s), or any of them, for any purpose, plus interest thereon, all payable according to the terms of the note(s) or other instrument(s) modifying the same; provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of TWO HUNDRED FORTY THOUSAND DOLLARS ($ 240 000.00), exclusive of interest and protective advances authorized herein or in the loan agreement(s); provided urt er, that ROT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED. This Trust Deed will be due October 01, 2019. Trustor(s) hereby warrants that Trustor(s) holds fee simple title to the above described property, that Trustor(s) has good and lawful authority to deed and encumber the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Trustor(s) will warrant and defend the property, at Trustor(s) expense, against all claimants whomsoever. Trustor(s) also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. Trustor(s) and each of them further covenants and agrees with Beneficiary as follows: 1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon the property or under any lease, permit, license, or privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or on public domain. 2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Beneficiary. Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to Beneficiary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may be applied, at the option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. Such insurance will be in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail. Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Beneficiary and by the National Flood Insurance Act of 1968, as amended, and by regulations implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable for any failure by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in force. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Beneficiary may enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreement(s). 4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property, buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Beneficiary, at its option, may make such payments or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest at the default rate provided in the note(s) from the date of payment until paid. The advancement by Beneficiary of any such amounts will in no manner limit the right of Beneficiary to declare Trustor(s) in default or exercise any of Beneficiary's other rights and remedies. 5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust Deed, including any action by Beneficiary to enforce this Trust Deed or any suit in which Beneficiary is named a defendant (including condemnation and bankruptcy proceedings) Beneficiary may incur expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses, appraisal fees, and Ap #: 00186333; Primary Customer ID #: 00002466; CIF #: 86811 Legal Doc. Date: April 21, 2000