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r � <br />ACKNOWLEDGEMENT OF DEED OF TRUST 89-104117 <br />TRUSTOR READ THIS BEFORE SIGNING: <br />Trustor understands that the document that Trustor Is about to execute is a Dead of Trust and not a mortgage and that the power <br />of sale provided for In the Deed of Trust provides substantially different rights and obligations to Trustor than a mortgage In the event <br />of a default or breach of obligation under the Deed of Trust, Including, but not limited to, the Lender's right to have the Property sold <br />by the Trustee without any Judicial proceeding. Trustor represents and warrants that this acknowledgement was executed by <br />Trustor before the execution of the Deed of Trust. <br />i <br />//Trustor (Rodger L. Williams) <br />Trustor (Geralyn Williams) <br />DEED OF TRUST WITH FUTURE ADVANCES <br />THIS DEED OF TRUST, Is made as of the 26th day of July ,19 89 by and among <br />the Trustor, Rodger L. Williams & Geralyn Williams, Husband & Wife, as Joint Tenants and not <br />as Tenants In L'bmtao <br />whose mailing address is 113 WedQevond Drive- Grnad Inland, NE 6f Fi0erein "Trustor;' whether one or more). <br />the Trustee, William G. Blackburn, A Member of the Nebraska State Bar Association <br />whose mailing address is P-0- Any 2280 Grand -Tel and , HE 68802 (herein "Trustee"), and <br />the 8"eflciary, Five Points-Bank <br />whose mailing address is P.O. Box 1507, Grand Island, NE 68802 (herein "Lender "). <br />FOR VALUASLE CONSIDERATION, including Lender's extension of credit identified herein to Rodger L. Williams & <br />Geralyn Williams, Husband & Wife (herein. "Borrowe.r", whether one or more) and the trust herein created, <br />the receipt af.which is hereby acknowledged. Trustor hereby- irrevocably grants, transfers, conveys and assigns to Trustee, IN <br />TRUST, WITH POWER OF SALE_ for the benefit and security of Lender, under and subject to the terms and ccrt Monshereinafter set <br />forth, the re�aal pr gfe described as follows: Lot Twenty Two (22) and the East Half .(E of Lot Tr'tenxxyp ' <br />Three 1233 of Roush Pleasantville Terrance Subdivision a Subdivision. of Lots•Twenty (ZO), <br />Twentv One (21) and the Wpst 313' of Lot Thirty 130) of Matthew's Subdivision of part of <br />the Northwest Quarter (NW%) of section Zwenty seven (27) Townsnip-iAevn 11) North, <br />Range Nine (9) West of the 6th P.M., Hall County, Nebraska <br />Together with all buildings, improvements, fixtures, straets, alleys, passageways, cements, rights, privileges and appurte- <br />nances located thereon. or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and <br />such personal property that is attached to the improvements so as to constitute a fixture, Including,. but not limited to, heating and <br />cooling equipment; and together with the homestead or marital interests, If any, which Interests are hereby released and waived; all <br />of which, Including replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this <br />r Deed of T4vst and all of the foregcing being referred to herein. as the "Property ". <br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit <br />i agreement dated July 26, 13$9 , having a maturity date of August 5, 1996 <br />in the original principal amount of $ 70,000.00 and any and all modifications, extensions and renewals <br />thereof or thereto and any and all future advances and readvances to Borrower (or any of thern if more than one) hereunder <br />pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment of other sums advanced by <br />Lender to protect the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all <br />present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct. indirect, -_ <br />absolute or. contingent and whether arising. by. note. guaranty. overdraft or otherwise. The Note, this Deed of Trust and any and all <br />other docuents that secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security <br />agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments'. <br />Trustor covenants and agrees with Lender as follows: <br />1. Payment of Indabtednesa. All indebtedness secured hereby shall be paid when due. <br />2. THIe. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien <br />created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and <br />delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any <br />contract or other obligation to which Trustor Is subject. <br />3. Taxes, Asseeements. To pay before delinquency all taxes, special assessments and all other charges against the Property <br />now or hereafter levied. <br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage ": and <br />such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additional <br />named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and <br />compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness <br />secured hereby and in such order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration of the Property <br />or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured + <br />hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due <br />date of any payments under the Note, or cure any default thereunder or hereunder. <br />5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient <br />sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against <br />the Property. (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance <br />required by Lender. <br />L 6. Maielananee, Rapalre and Compliance with Laws. Trustor shall keep the Property in good condition. and repair; shall <br />promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or <br />deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not <br />commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and <br />promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the <br />Property or any part thereof. <br />7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter .� <br />"Proceeos') in connection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of condemna- <br />tion. Lender shall be entitled at its option to commence. appear in and prosecute in its own name any action or proceedings, and <br />shall also be entitled to make any compromise or settlement in connection with such taking or damage. in the event any portion of <br />NEC 3t5r rNOnsB,.cuftu,s[ tH.al R,v 10,88 <br />0 1888 NHronp A,rw Lf WmnH,t. Tru,[snd 6sn ,t A[sorat.on l.nto,n Ksbrst19 _ -- <br />