|
,zo v o sa 41V z
<br />It is agreed by and between parties hereto that until filing of Notice of Default, the Trustor shall: (1) pay all present and future taxes and
<br />assessments, general and special, against said property before the same becomes delinquent or actionable; (2) keep all improvements erected on the
<br />land insured as may be required from time to time by Beneficiary against loss by fire and other hazards, casualties and contingencies, in such
<br />amounts and for such periods as are reasonable and may be required by Beneficiary, and to keep all policies of such insurance in force of effect upon
<br />the property herein described constantly assigned and delivered to Beneficiary: (3) pay and comply with all the terms and conditions of any lien,
<br />claim or indebtedness that may be senior to or take precedence over this Trust Deed as soon as any such payment on or of such lien, claim or
<br />indebtedness shall become due; and upon failure of Trustor to keep any said agreements, Beneficiary may pay such tax, pay for such insurance of pay
<br />off such liens or claims or indebtedness as the case may be, and the money so expended, with interest at 9% per annum, shall be secured by this Trust
<br />Deed, and the Trustor agrees to repay the same upon demand, and upon failure to do so the balance of the attached note shall become immediately
<br />due and payable at the option of the Beneficiary; (4) specifically confer upon the Trustee the power of sale as provided in Nebraska law; (5) retain
<br />possession of the premises and collect the rents and revenues therefrom.
<br />Upon payment of all the sums secured by the Trust Deed, the Beneficiary shall request the Trustee to reconvey the property and shall
<br />surrender this Trust Deed and all notes evidencing indebtedness secured by this Trust Deed to the Trustor and Trustee shall reconvey the property
<br />without warranty to the person or persons legally entitled thereto. But if default be made in the payment of said note or any part thereof or any of the
<br />interest thereon when due or in the faithful performance of any or either of said agreements as aforesaid, then this deed shall remain in force and the
<br />whole of said note shall become due and be paid, at the Beneficiary's option, as hereinafter provided. The Trustee shall have the right, upon demand,
<br />to any or all of the following: to take immediate possession of the property, to rent the same at such rentals as you may deem proper, to collect the
<br />rents, to make any necessary repairs or replacements to the property, and after paying the cost of renting the property, collecting the rents and the
<br />making of any repairs to the property, to apply the balance on the sums hereby secured; and if there is not sufficient net rental money received to pay
<br />the cost of repairs, then any balance shall be secured hereby along with the note and bear the same rate of interest; and in addition the Trustee of his
<br />attorney may proceed to sell the property in its entirety or in parcels at the option of the Trustee hereinbefore described at public auction, to the
<br />highest bidder, for cash. However, the power of sale herein confirmed upon the Trustee shall not be exercised until (l) the Trustee shall first file for
<br />record, in the office of the register of deeds of each county wherein the trust property or some part or parcel thereof is situated, a notice of default,
<br />identifying the Trustee by stating the names of the Trustor and names therein and giving the book and page where the same is recorded, a description
<br />of the trust property, and containing a statement that a breach of obligation for which the trust property was conveyed as security has occurred, and
<br />setting forth the nature of such breach and of his election to sell or cause to be sold such property to satisfy the obligation; and (2) after the lapse of
<br />not less then one month, the Trustee shall give notice of sale as provided by Nebraska law. After notice of default and lapse of not less than one
<br />month, the Trustee shall give written notice of the time and place of sale particularly describing the property to be sold by publication of such notice,
<br />at least five times, once a week for five consecutive weeks, the last publication to be at least 10 days but not more than 30 days prior to the sale, in
<br />some newspaper having a general circulation in each county in which the property to be sold, or some part thereof, is situated. Upon such sale, the
<br />trustee shall execute and deliver a deed of conveyance of the property sold to the purchaser or purchasers thereof and any statement or recital of fact
<br />in such deed in relation to the exercise of the power of sale and sale of the property described therein, including recitals concerning any mailing,
<br />personal delivery and publication of the notice of default, any mailing and the publication and posting of notice of sale, and the conduct of sale; and
<br />such recital shall constitute prima facie evidence of such compliance and conclusive evidence thereof in favor of bona fide purchasers and
<br />encumbrancers for value and without notice. The Trustee's deed shall operate to convey to the purchaser, without right of redemption, the Trustee's
<br />title and all right, title, interest and claim of the Trustor and his successors in interest and of all person claiming by or through or under them, in and
<br />to the property sold, including all such right, title, interest and claim in and to such property acquired by the trustor or his successors in interest
<br />subsequent to the execution of the Trustee. The Trustee shall apply the proceeds of the Trustee's sale, first, to the cost and expenses of exercising the
<br />power of sale, and of the sale, including the payment of the Trustee's fees actually incurred not to exceed the amount which may be provided for in
<br />the trust deed, second, to payment of the obligations secured by the trust deed, and the balance, if any, to the person or persons legally entitled
<br />thereto.
<br />And the Trustee covenants faithfully to perform the trust herein created.
<br />BENEFICIARY may from time to time substitute a successor or successors to any Trustee named herein or acting hereunder to execute this
<br />Trust Deed. Upon such appointment and without conveyance to the successor Trustee, the latter shall be vested with all title, powers, and duties
<br />conferred upon any Trustee herein named or acting hereunder. Each such appointment and substitution shall be made by written instrument and
<br />executed by Beneficiary, containing reference to this Trust Deed and its place of record, which, when recorded in the office of the Register of Deeds
<br />of the county or counties in which said property is situated, shall be conclusive proof of proper appointment of the successor Trustee. The foregoing
<br />power of substitution and the procedure therefore shall not be exclusive of the power and procedure provided for by law for the substitution of a
<br />Trustee or Trustees in the place of the Trustee or Trustees named herein.
<br />Should the Trustor or its successor in interest without the consent in writing of the Beneficiary sell, transfer, or convey, or permit to be
<br />sold, transferred or conveyed, by agreement for sale or in any manner, its interest in the above described real estate (or any part thereof), then
<br />Beneficiary may declare all sums secured hereby immediately due and payable, subject to applicable law.
<br />The waiver by Trustee or Beneficiary of any default of Trustor under this Trust Deed shall not be deemed to be a waiver of any other or
<br />similar defaults subsequently occurring.
<br />This Trust Deed shall inure to and bind the heirs, legatee, devisees, administrators, executors, successors and assigns of the parties hereto.
<br />The Trust Deed shall be construed according to the laws of the State of Nebraska.
<br />The Trustor requests that a copy of any notice of default and of any notice of sale hereunder be mailed to him by certified mail at the
<br />address hereinbefore set forth and evidence of such mailing shall constitute evidence of receipt of such notice.
<br />Trustor represents and warrants that the above described real estate is not used for an agricultural activity.
<br />Wherever the context so requires, singular words shall be construed in the plural and vice versa, and the masculine gender shall be
<br />construed to include the feminine and vice versa.
<br />IN WITNESS WHEREOF, the Trustor has hereunto set his hand the day and year first above written.
<br />Trustor Charles R D Everly
<br />I
<br />G_,,-,
<br />Trustor oann Stanford
<br />STATE OF NEBRASKA
<br />1 SS.
<br />COUNTY OF Hall I
<br />Before me, a Notary Public, qualified by said county, personally came _ Charles R D Everly and
<br />Joann Stanford known to me to be the identical person(s) who signed the foregoing Deed of Trust Acknowledgement and then signed
<br />the Trust Deed and acknowledged the execution thereof to be his, her or their voluntary acts and deeds. Witness my hand and Notarial Seal on
<br />November 0th 2000
<br />(month /day) ( (year)
<br />c G
<br />GENERAL NOTARY -State of Nebraska NOTARY PUBLIC
<br />III DEBRA J. KOZAK
<br />MY Comm. Exp. Jan. 30, 2004 My commission expires: January 30, 2004
<br />(date)
<br />(seal)
<br />
|