|
WHEN RECORDED MAIL TO:
<br />First Dakota National Bank
<br />Dakota MAC
<br />225 Cedar Street
<br />PO Box 495
<br />Yankton, SD 57078
<br />2023011 27
<br />FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $500,000.00.
<br />THIS DEED OF TRUST is dated March 9, 2023, among Ricky D Stelk aka Ricky Stelk, a single
<br />person, whose address is 4701 W Husker Hwy, Alda, NE 68810-9600; ("Trustor"); First
<br />Dakota National Bank , whose address is Dakota MAC, 225 Cedar Street, PO Box 495,
<br />Yankton, SD 57078 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"); and First Dakota National Bank, whose address is 225 Cedar St PO Box 156,
<br />Yankton, SD 57078 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE,
<br />for the benefit of Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real
<br />property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all
<br />easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with
<br />ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without
<br />limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall County,
<br />State of Nebraska:
<br />Parcel 1: The East Half of the Southeast Quarter (E1/2SE1/4) of Section Thirty -Four (34),
<br />Township Eleven (11) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska,
<br />Excepting therefrom Pierce Subdivision filed as Document No. 92-107072.
<br />Parcel 2: The Northeast Quarter of the Northeast Quarter (NE1/4NE1/4) of Section Three
<br />(3), Township Ten (10) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor
<br />whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust
<br />secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to
<br />Trustor, together with all interest thereon.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and
<br />interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Trustor
<br />grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents.
<br />TRUST BENEFICIARIES. The Grantor/Trustor acknowledges that the rights and options of all Trust beneficiaries to the
<br />Real Property are subordinate to the rights of any lender with a mortgage or other security interest against the Real
<br />Property.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br />PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF
<br />ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all
<br />amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of
<br />Trustor's obligations under the Note, this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the
<br />Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and
<br />control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs,
<br />replacements, and maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of
<br />Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal,
<br />release or threatened release of any Hazardous Substance by any person on, under, about or from the Property;
<br />(2) Trustor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use,
<br />generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br />on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously
<br />R.�
<br />
|