|
ACKNOWLEDGEMENT OF DEED OF TRUST
<br />TRUST ©A BEAD TIPS BEFORE SiGN-Wi5l' 90-106355 5
<br />TruaWr understand* that the d=umant that Trustor is about to executa Is a Deed of Trust and not a mortgage and that the power
<br />of sale provided for in Me Deed of Tt%&si ptovide3 substantlally differant rights and obllgations to Trustar than a mortgage In the awnt
<br />of a default or breach of obligation tinder the Deed of Trust. Including, but not limited to, the Lender's right to have the Property sold
<br />by late Trustee without any Judicial p:ocaading. Trustor repre.ents and warrant3 that this SCknow'.ra.;i►3ement was executed by
<br />Trustor before the execution of the Oati►'d of Terri
<br />C 0tr It�ertAW
<br />gy, (Robert J. ff Tnutor 4sig. President)
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, Is made as of" _6tw day of sav *.r ,119_ ft by and among
<br />the Trustor.
<br />whose mailing address is dherein "Trustor;' whather one or more),
<br />ate Trustee, Byte Polide Sn"It, a Nobsooke C'..rP —
<br />whose mailing address is P• 1 101* 15V GrAnd slandi, iIS 69M2 (herein "Trustee?, and
<br />the Beneficiary, Five Pad s�i<
<br />whose mailing address is V 0- tax •'.sue Grand hail msel U. 611IMZ 3567 (herein "Lender").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to raft y caparli mi Inc
<br />(herein "Borrower ", whether one or more) and the trust herein created.
<br />the receipt of 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 conditions hereinafter set
<br />forth, the real property, described as follows:
<br />PAST 11; 3F LoT 5, Rod 9 to ottIGI/AL Talltl OF GRAND ISLAND, HAM M116':'Y,
<br />NEIRASU
<br />Together with ell buildings, improvements, fixtures, streets, alleys. passageways, easements, rights, privileges and appurte-
<br />nances iociafed thereon or in anywise pertaining thereto, and the rents. issues and profits, reversions and remainders thereof, and
<br />.sU,:•h der_,_ ,at .!iron„ that in attar.had to t imnrow mants 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 />ct which, including replacements and additions thereto, is hereby declared lobe a part of the real estate secured by the lien of this
<br />lined of Trust and all of the foregoing 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 />agreement dated ,_,;, *. 6. O'�hm , havirg a maturity date of
<br />In the original principal Pmount of S 'S, "IM- r . and any and al! modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and readvances to Borrower (or any of them if more than one) hereunder
<br />pursuant to one or more promissory note:• or credit agreements (herein called "Note "); (b) the payment of other sums advanced by
<br />Lender to protect the security of the t4:ao� Ic, the performance of all covenants and agreements of Trusit:r set forth herein: and (d) all
<br />present and future indebtedness and of N;ztions of Borrower (or any ol: U^em if more than one) to Lender whether direct, indirect,
<br />absolute or contingent and whether ansiag by note, guaranty, overdraft or otherwise. The Note, th is. Deed of Trust and any and all
<br />ether docuents that secure the Note or otherwise executed in connection therewith, including without I kinitatiotn gl aranteas, security
<br />agreements and assignments of teases and rents. shall be referred to herein as the '•Loan Instru nC�i'ts
<br />Trustor covenants and agrees with tender as follows:
<br />1. Payment of Indebtednes3. Aft Indebtedness secured hereby shall be paid when due.
<br />2. Tice. Trustor is the owner of tte Property, has the right and: authority to convey the Property, and warrants that the 11 m
<br />-
<br />created hereby is a first and prior lien cii me Property, except for yens and encumbrances sei torth 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, Assessnttet bL To pay before delinquency al! taxes, special assessments and all other charges againstthe Property
<br />now or hereafter levied.
<br />4. insurance. To keep the Property insured against damage by f) if hazards ; r c,; tided within the term " extended'o:,w.-ra:ge; , and
<br />such other hazards as Lender may require; In 4mounts and with cornparica. acca :rtaah a to Lender, naming Lender ;).s ,an ,vidif anal
<br />named insured, with loss payable to the Lwider. in case –of toss urge- such policies lire Lender rs authorized to 3iijw :f. i:oi,]4ct and
<br />compromise. all claims thereunder and s"( bare. theopilonofapply* ii g ail avparl', dma insurance proceeds (r)toanyan¢Ci3t� nesS
<br />secured heroby and in such order as Lender• May deicmt,nc, ;i�j :o it:e 1]vstor to Ge u ed for the repair or restoration of tiva Prul2luty
<br />or (iii) for any other purpose or object sabsiiti tory to Lender without ailecii ng the hen of this Deed of Trust forth e full *mould s ecumd
<br />hereby before such payment ever took place. Any application of proceeds to Indebtedness spill not extend or postpone jite dile
<br />date of any payments under the Note. or cure any default thereunder or hereunder.
<br />S. Escrow. Upon written demand by Lender. Trustor shall pay to Lender, in such manneras Lender .ray designate, suflfieWnt
<br />sums to enable Lender to pay as they become due one or more of the following: (q all taxes, assessments and othercltarges against
<br />the Property, (ii) the premiums on the property Insurance required hereunder, and (iii) the premiums on any madtTage insurance
<br />required by Lender.
<br />B. Waintenanee. Repairs 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 w substantia ".ly 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 />"Proceeds) 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 act'on 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 />MIC 3457 Obns co"ai Do" Rw 10 ,e
<br />O i m itc anai so* at commnc, Trust W 9,nn4s Assonann Ld=ift. KMASka
<br />f
<br />c
<br />i
<br />i
<br />f
<br />1
<br />S
<br />to
<br />-3,
<br />1;
<br />f
<br />c
<br />i
<br />
|