|
200005764
<br />Space Above This Line For Recording Data
<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is June 23, 2000. The parties and
<br />their addresses are:
<br />TRUSTOR (Grantor):
<br />GEORGE D. ALLAN JR
<br />17596 W WOOD RIVER RD
<br />WOOD RIVER, Nebraska 68883
<br />DOLORES J ALLAN (AKA DeLoris J Allan and as Deloris J Allan)
<br />17596 W WOOD RIVER RD
<br />WOOD RIVER, Nebraska 68883
<br />TRUSTEE:
<br />THE OVERLAND NATIONAL BANK OF GRAND ISLAND
<br />Financial Institution
<br />304 West 3rd Street
<br />Grand Island, Nebraska 68801
<br />470261795
<br />BENEFICIARY (Lender):
<br />THE OVERLAND NATIONAL BANK
<br />Organized and existing under the laws of the United States of America
<br />304 West 3rd Street
<br />Grand Island, Nebraska 68801
<br />47- 0261795
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />North Half of the Northeast Quarter (N1/2NE1/4) of Section Twenty -One (21) in Township Ten (10) North,
<br />Range Twelve 0 2), West of the 6th P.M. , Hall County, NE
<br />The Property is located in rural Hall County , Nebraska .
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all
<br />diversion payments or third party payments made to crop producers and all existing and future improvements,
<br />structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate
<br />described (all referred to as Property). This Security Instrument will remain in effect until the Secured Debts and
<br />all underlying agreements have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $250,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, dated June 23, 2000, from Grantor to Lender, in the amount of
<br />$110,000.00 with interest at the rate of 10.5 percent per year maturing on March 2, 2001 and a promissory
<br />note, dated May 20, 1999, from Grantor to Lender, in the amount of $140,000.00 with interest at the rate of
<br />7.9 percent per year maturing on January 5, 2004. One or more of the debts secured by this Security
<br />Instrument contains a future advance provision.
<br />B. All Debts. All present and future debts from Grantor to Lender, even if this Security Instrument is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br />with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a
<br />commitment to make additional or future loans or advances. Any such commitment must be in writing. In the
<br />event that Lender fails to provide notice of the right of rescission, Lender waives any subsequent security
<br />interest in the Grantor's principal dwelling that is created by this Security Instrument. This Security
<br />Instrument will not secure any debt for which a non - possessory, non - purchase money security interest is
<br />created in "household goods" in connection with a "consumer loan," as those terms are defined by federal
<br />GEORGE D. ALLAN JR
<br />Nebraska Dead Of Trust Initials
<br />NE/ 2UBBSN0662000000000000004E0000004Fn8 01996 Bankers Systems, Inc., St. Cloud, MN
<br />
|