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201605576
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7/3/2017 5:40:51 PM
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8/29/2016 1:51:24 PM
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DEEDS
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201605576
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20/6055'76 <br /> other fees and charges validly made pursuant to this Security Instrument.Also,this limitation does not <br /> apply to advances made under the terms of this Security Instrument to protect Beneficiary's security <br /> and to perform any of the covenants contained in this Security Instrument. <br /> 3. Secured Debt and Future Advances. The term "Secured Debt"is defined as follows: <br /> (A)Debt incurred under the terms of all promissory note(s), contract(s),guaranty(ies)or other <br /> evidence of debt described below and all their extensions,renewals,modifications or <br /> substitutions. <br /> The promissory note signed by Berry J Mapes(the `Borrower")and dated the same date as <br /> this Security Instrument(the "Note"). The Note states that Borrower owes Lender seventy five <br /> thousand and 00/100 Dollars(U.S. $75,000.00)plus interest. Borrower has promised to pay <br /> this debt in regular periodic payments and to pay the debt in full not later than November 1, <br /> 2021. <br /> (B)All future advances from Beneficiary to Trustor or other future obligations of Trustor to <br /> Beneficiary under any promissory note, contract,guaranty,or other evidence of debt executed <br /> by Trustor in favor of Beneficiary after this Security Instrument whether or not this Security <br /> Instrument is specifically referenced.If more than one person signs this Security Instrument, <br /> each Trustor agrees that this Security Instrument will secure all future advances and future <br /> obligations that are given to or incurred by any one or more Trustor,or any one or more Trustor <br /> and others.All future advances and other future obligations are secured by this Security <br /> Instrument even though all or part may not yet be advanced. All future advances and other <br /> future obligations are secured as if made on the date of this Security Instrument.Nothing in <br /> this Security Instrument shall constitute a commitment to make additional or future loans or <br /> advances in any amount.Any such commitment must be agreed to in a separate writing. <br /> (C)All obligations Trustor owes to Beneficiary,which may later arise,to the extent not prohibited <br /> by law, including,but not limited to, liabilities for overdrafts relating to any deposit account <br /> agreement between Trustor and Beneficiary. <br /> (D)All additional sums advanced and expenses incurred by Beneficiary for insuring,preserving <br /> or otherwise protecting the Property and its value and any other sums advanced and expenses <br /> incurred by Beneficiary under the terms of this Security Instrument. <br /> This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice <br /> of the right of rescission. <br /> This Security Instrument will not secure any other debt if Lender fails,with respect to that other debt, <br /> to fulfill any necessary requirements or to conform to any limitations of Regulation Z and X that are <br /> required for loans secured by the Property. <br /> 4. Payments. Trustor agrees that all payments under the Secured Debt will be paid when due and in <br /> accordance with the terms of the Secured Debt and this Security Instrument. <br /> 5. Warranty of Title. Trustor warrants that Trustor is or will be lawfully seized of the estate <br /> conveyed by this Security Instrument and has the right to irrevocably grant,convey and sell <br /> the Property to Trustee, in trust,with power of sale. Trustor also warrants that the Property is <br /> unencumbered,except for encumbrances of record. <br /> 6. Prior Security Interests. With regard to any other mortgage, deed of trust,security agreement <br /> or other lien document that created a prior security interest or encumbrance on the Property,Trustor <br /> agrees: <br /> (A)To make all payments when due and to perform or comply with all covenants. <br /> (B)To promptly deliver to Beneficiary any notices that Trustor receives from the holder. <br /> (C)Not to allow any modification or extension of,nor to request any future advances under any <br /> note or agreement secured by the lien document without Beneficiary's prior written consent. <br /> 7. Claims Against Title. Trustor will pay all taxes,assessments,liens,encumbrances, lease <br /> payments, ground rents,utilities,and other charges relating to the Property when due.Beneficiary <br /> may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and the <br /> receipts evidencing Trustor's payment.Trustor will defend title to the Property against any claims that <br /> would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary,as requested <br /> by Beneficiary,any rights,claims or defenses Trustor may have against parties who supply labor or <br /> materials to maintain or improve the Property. <br /> 8. Due on Sale or Encumbrance. Beneficiary may,at its option,declare the entire balance of the <br /> Secured Debt to be immediately due and payable upon the creation of,transfer or sale of all or any part <br /> of the Property. This right is subject to the restrictions imposed by federal law,as applicable. <br /> Deed Of Trust Closed End-NE <br /> Bankers Systems.VMP® 06/2016 <br /> Wolters Kluwer Financial Services®2014 2016080916.1.0.3638-N20160620N Page 2 of 6 <br />
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