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89100858
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Last modified
10/19/2011 6:04:29 PM
Creation date
10/20/2005 9:17:05 PM
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DEEDS
Inst Number
89100858
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1 <br />r <br />89--1 00858 <br />appralsnls, surveys and attorney's fees. Any such costs and <br />expenses not - paid within ten (10) days of written demand shall <br />draw interest at the rate applicable to outstanding Advances <br />(under and as defined in the aforementioned Loan Agreement) until <br />repaid by the Trustor. Trustor shall not use or allow use of the <br />Trust Estate for any unlawful purpose. Trustor agrees not to <br />sell, transfer, lease, or further encumber the Trust Estate.in <br />any way without prior written approval of Beneficiary. <br />5. Further Financing. Trustor shall not diracily-.ar <br />indirectly mortgage, pledge or otherwise encumber th4 Tisist <br />Estate or assign or attempt to assign the rents and profits from <br />tine -Trust Estate, to any person or party other than Francis Maul <br />and Maxine Moul to secure obligations to them incurred by Trustor <br />in connection with the December 15, 1989, Stock Purchase <br />Agreement and related documents or the Bene ficiary. <br />6. Eminent Domain. Should the Trust Estate, or any <br />material part thereof or interest therein, be taken or damaged by <br />reason of any public improvement or condemnation proceeding, or <br />in any other manner including Deed in Lieu of Condemnation <br />( "C�emnation"), or should Trustor receive any. notice or other <br />information regarding such proceeding, Trustor shall give prompt <br />written notice thereof to Beneficiary. Beneficiary shall be <br />entitled to all compensation, awards and other payments or relief <br />therefor, and shall be entitled at its option to commence, appear <br />in and prosecute in its own name any action or proceedings. <br />Beneficiary shall also be entitled to make any compromise or <br />settlement in connection with such taking or damage. All such <br />compensation, awards, damages, rights of action and proceeds <br />awarded to Trustor (the' "Proceeds ") are hereby assigned to <br />Beneficiary and Trustor agrees to execute such further assign- <br />ments of the Proceeds as Beneficiary -or Trustee may recpiire. <br />7. AOpointme3st of Successor Trustee. Beneficiary may, <br />from time to time,.Icy a written instrument executed and acknowl- <br />edged by Beneficiary, mailed to Trustor and recorded in tNe <br />County in which the? Trust Estate is located and try. ot%err';sse <br />complying with the provisions of the applicable law cf. Elie State. <br />of 'fUbraska, substitute a successor or successors to the Tru.stes <br />named herein or acting hereunder. <br />8. Successors and Asmigns. This Deed of Trust applies to, <br />inures to the benefit of and binds all parties hereto, their <br />heirs, legatees, devisees, personal representatives, successors <br />and assigns. The term "Beneficiary" shall mean the owner and <br />holder of the Obligations, whether or not named as Beneficiary <br />herein. <br />9. Inspections. Beneficiary, or its agents, representa- <br />tives or workmen, are authorized to enter at any reasonable time <br />upon or In any part' of the Trust Estate for the purpose of <br />-4- <br />t� <br />
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