|
Return to: Adams County Bank, 401 N Smith Ave, PO Box 149, Kenesaw NE 68956
<br />DEED OF TRUST
<br />W
<br />Cn
<br />This Deed of Trust, hereinafter referred to as Security Instrument, is made on this 28th day of January,
<br />2019. The Trustor, hereinafter referred to as Borrower, is J & L Westward Enterprises, L.L.C., a Nebraska
<br />Limited Liability Company, whose address is 3104 Bison Court, Grand Island, Nebraska 68803.
<br />The Trustee, hereinafter referred to as Trustee is Adams County Bank. The Beneficiary, hereinafter
<br />referred to as Lender, is Adams County Bank, which is organized and existing under the laws of the State of
<br />Nebraska, and whose address is Kenesaw, County of Adams, State of Nebraska. Borrower owes Lender the
<br />principal sum of Eighty -Three Thousand, Eight Hundred Nineteen Dollars and 75/100 Dollars
<br />▪ ($83,819.75). This debt is evidenced by Borrower's note dated the same date as this Security Instrument, hereinafter
<br />▪ referred to as Note, with the full debt, if not paid earlier, due and payable on June 30, 2023. This Security
<br />po Instrument secures to Lender: (a) the repayment of the debt evidenced by Note(s), together with interest thereon,
<br />COO any further advances, and all extensions, modification, substitutions, and renewals thereof; (b) the payment of all
<br />other sums, with interest, advanced under Section Nine hereof to protect the security of this Security Instrument; and
<br />(c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this
<br />..� purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with Power of Sale, the following described
<br />real estate:
<br />A tract of land being a part of the Southeast Quarter of the Southeast Quarter (SE '/. SE '/), Section
<br />Seventeen (17), Township Eleven (11) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska,
<br />and more particularly described as follows:
<br />Beginning at a Survey Marker Spike and L.S. Washer at the Southeast Corner of the Southeast Quarter of
<br />Section 17 and assuming the South line of said Southeast Quarter as bearing S 89°32'20" W and all bearing
<br />contained herein are relative thereto; thence S 89°32'20" W on said South line a distance of 600.00 feet;
<br />thence N 00°06'28" E parallel with the East line of said Southeast Quarter a distance of 735.00 feet to a 5/8"
<br />rebar w/cap; thence N 89°32'20" E parallel with said South line of the Southeast Quarter a distance of 600.00
<br />feet to the East line of said Southeast Quarter; thence S 00°06'28" W on said East line a distance of 735.00
<br />feet to the Point of Beginning,
<br />which is located in Hall County, Nebraska, and is hereinafter referred to as "Property Address."
<br />Together with all the improvements now or hereafter erected on the property and all easements, rights,
<br />appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or
<br />hereafter a part of the said property. All replacements and additions shall also be covered by this Security
<br />Instrument. All of the foregoing is referred to in this Security Instrument as the "Property".
<br />Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to any
<br />encumbrances of record. Borrower and Lender covenant and agree as follows:
<br />1. TRUST DEEDS ACT. That this Trust Deed shall be governed by the terms of Section 76-1001, and
<br />following, of the Revised Statutes of the State of Nebraska, also known as the Nebraska Trust Deeds Act.
<br />2. PAYMENT. That the Borrower shall pay to the Beneficiary the principal and interest under the terms of
<br />the Promissory Note(s).
<br />3. TAXES. That the Borrower shall pay all general real estate taxes and special assessments levied
<br />hereinafter against the property when the same become due and before the same become delinquent.
<br />4. INSURANCE. That the Borrower shall insure the property against loss by fire, hazards, included within
<br />the term "Extended Coverage" and any other hazards for which the Lender requires insurance in an amount not less
<br />than No Dollars and no/100 Dollars (00.00) with a company qualified in the State of Nebraska by a
<br />policy containing a clause for loss payable to the Beneficiary and the Borrower as their respective interests exist at
<br />the time of the loss and to provide evidence of payment of the premium of said policy upon reasonable demand by
<br />the beneficiary.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration
<br />or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not
<br />lessened, or the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not
<br />then due, with any excess paid to Borrower.
<br />If Borrower abandons the Property, or does not answer within thirty (30) days a notice from Lender that the
<br />insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the
<br />
|