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202008266
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Last modified
10/26/2020 11:19:44 AM
Creation date
10/26/2020 11:19:42 AM
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DEEDS
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202008266
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202008266 <br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is <br />acknowledged, and to secure the Secured Debts and Grantor's performance under this Security <br />Instrument, Grantor does hereby irrevocably grant, convey and sell to Trustee, in trust for the <br />benefit of Lender, with power of sale, the following described property: <br />See attached Exhibit "A" <br />The property is located in Hall County at 6060 W Old Potash Hwy, Grand Island, Nebraska <br />68803. <br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, <br />all water and riparian rights, wells, ditches and water stock, crops, timber including timber to be <br />cut now or at any time in the future, all diversion payments or third party payments made to <br />crop producers and all existing and future improvements, structures, fixtures, and replacements <br />that may now, or at any time in the future, be part of the real estate described (all referred to <br />as Property). This Security Instrument will remain in effect until the Secured Debts and all <br />underlying agreements have been terminated in writing by Lender. <br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security <br />Instrument is unlimited. Any limitation of amount does not include interest and other fees and <br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply <br />to advances made under the terms of this Security Instrument to protect Lender's security and <br />to perform any of the covenants contained in this Security Instrument. <br />4. SECURED DEBTS AND FUTURE ADVANCES. The term "Secured Debts" includes and this <br />Security Instrument will secure each of the following: <br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, <br />modifications and replacements. A promissory note or other agreement, dated October 12, <br />2020, from Grantor to Lender, with a loan amount of $2,000,000.00. <br />B. Future Advances. All future advances from Lender to Grantor under the Specific Debts <br />executed by Grantor in favor of Lender after this Security Instrument. If more than one <br />person signs this Security Instrument, each agrees that this Security Instrument will secure <br />all future advances that are given to Grantor either individually or with others who may not <br />sign this Security Instrument. All future advances are secured by this Security Instrument <br />even though all or part may not yet be advanced. All future advances are secured as if <br />made on the date of this Security Instrument. Nothing in this Security Instrument shall <br />constitute a commitment to make additional or future advances in any amount. Any such <br />commitment must be agreed to in a separate writing. <br />C. All Debts. All present and future debts from Grantor to Lender, even if this Security <br />Instrument is not specifically referenced, or if the future debt is unrelated to or of a different <br />type than this debt. If more than one person signs this Security Instrument, each agrees <br />that it will secure debts incurred either individually or with others who may not sign this <br />Security Instrument. Nothing in this Security Instrument constitutes a commitment to make <br />additional or future loans or advances. Any such commitment must be in writing. This <br />Security Instrument will not secure any debt for which a non -possessory, non -purchase <br />money security interest is created in "household goods" in connection with a "consumer <br />loan," as those terms are defined by federal law governing unfair and deceptive credit <br />practices. This Security Instrument will not secure any debt for which a security interest is <br />J & L Westward Enterprises, LLC <br />Nebraska Deed Of Trust <br />NE/4XXMUTTER00000000002299072101020N <br />Wolters Kluwer Financial Services m1996, 2020 Bankers Page 2 <br />SystemsTM <br />
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