|
-
<br />M
<br />f1n
<br />r,
<br />2 r
<br />o
<br />Cl) cn
<br />p
<br />xD,
<br />CD
<br />C
<br />r Y1
<br />C3
<br />rn r
<br />-< p
<br />a
<br />cj
<br />p -*t
<br />O
<br />LZ.
<br />a
<br />N
<br />-n :Z
<br />YJ
<br />rr
<br />t
<br />D cA
<br />©
<br />' )>
<br />_3
<br />N
<br />~
<br />(T
<br />O
<br />7% l
<br />N
<br />N
<br />fJ>
<br />M
<br />e
<br />SECURITY AGREEMENT AND FINANCING STATEMENT
<br />ca
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That David C. Powers and Rosemary Powers , Husband and Wife, of 15 Kuester Lake, Grand Island,
<br />Nebraska, DEBTOR, for the purpose of securing the payment of $75,000.00 and interest at 8.50% percent initial annual V
<br />percentage rate according to a Promissory Note described as follows: Promissory Note # 771238, dated July 27, 2001,
<br />in the amount of $75,000.00, with an annual interest rate of 8.50 %, payable by the Debtors to Five Points Bank of
<br />Grand Island, Nebraska, with it's main office at 2015 North Broadwell, Grand Island, Nebraska, the SECURED PARTY,
<br />the debtors do hereby grant, mortgage and assign unto said Secured Party the house and all other improvements now
<br />or hereafter situated on a leasehold, at 11 Kuester Lake, Grand Island, Nebraska, and all appurtenances thereto, of
<br />frame construction and said house being situated upon:
<br />Lot Twenty -One (21) Situated on the West Side of the West Portion of Kuester Lake and being on a part of the
<br />East Half of the Southwest Quarter (El /2SW1/4) of Section Thirteen (13), Township Eleven (11) North, Range Nine (9)
<br />West of the 6th P.M., Hall County, Nebraska.
<br />including any improvements, accessions, accessories, parts, or equipment now or hereafter affixed hereto.
<br />E
<br />The Debtors warrant that the above - described property situated on said leased premises is free and clear of all
<br />liens and encumbrances, that they will pay the annual ground rent and any assessments payable to the Lessor of such
<br />leased premises when the same is.due and payable and before the same become delinquent, according to the
<br />provisions of Debtors' lease; that they will pay all personal taxes before the same become delinquent; that they will
<br />maintain and pay the premiums for fire and extended coverage insurance on said improvements in an amount not less
<br />than the unpaid balance of the indebtedness; that if they fail to pay any such rents, assessments or taxes before the
<br />same become delinquent, or such premiums when the same become due, that the Secured Party may pay the same,
<br />and any such payments by the Secured Party shall be a part of this indebtedness, payment of which shall be secured by
<br />this Security Agreement and Financing Statement shall be forthwith due and repayable by Debtors to the Secured Party
<br />and shall bear interest at the maximum legal rate from the time of such payment of rents, assessments, taxes or
<br />premiums until the same have been repaid to the Secured Party.
<br />It is hereby agreed that if default be made in the payment of said Note or any part thereof when due or if the
<br />Debtors fail to pay ground rent and assessments to the Lessor as required under their Lease or personal taxes before
<br />the same become delinquent, or said insurance premiums when due or if any attempt be made to dispose of or remove
<br />the said mortgaged improvements from said premises or if at any time the Secured Party shall deem the said debt
<br />unsafe or insecure, including nonconformance by the Debtors with any of the terms of their Lease with their Lessor, the
<br />Secured Party is authorized to enter upon the premises where said property may be, and Debtors will forthwith
<br />relinquish possession of the leased premises and improvements to the Secured Party; and thereafter, the Secured Party
<br />shall receive all rents to apply upon said debt and may at its option sell said property at public or private sale with or
<br />without,notice, and out of the proceeds of any such sale retain the amount then owing on said debt, with advances and
<br />for expenses pertaining to any such sale, rendering the account to the Debtors and payment to them of any surpluses,
<br />after the whole of said debt shall have been paid, with such advances and expenses of sale.
<br />WITNESS our signatures to the foregoing instrument this 27 July, 2001
<br />David C. Powers
<br />(DEBTOR)
<br />STATE OF NEBRASKA )
<br />COUNTY OF HALL )
<br />Fj Rosemary Po rs
<br />�� (DEBTOR)
<br />p FIVE POINTS BANK, GRAND ISLAND, NEBRASKA
<br />rp cc, (SECURED PARTY)
<br />-4
<br />Alt
<br />By:
<br />Tim Wojcik, Vice President
<br />On this 27 July, 2001, before me the undersigned, a Notary Public within and for said County, personally came
<br />David C. Powers and Rosemary Powers, Husband and Wife, who are known to me and known to me to be the identical
<br />persons whose names are so affixed to the foregoing Security Agreement and Financing Statement as Debtor, and they
<br />acknowledges there execution thereof to be their voluntary act and deed for the purposes therein stated.
<br />WITNESS my hand and Notarial Seal the date last above written.
<br />II GENERAL NOTARY-State of Nebraska Nota 'Public
<br />VICKY J. ZASKA
<br />My Comm. Ea➢. Dec. 30. 2002
<br />
|