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99 109900
<br /> the Northwest Quarter of the Southwest Quarter of the Southeast Quarter (S1/2NW 1/4SW 1/4SE 1/4) all in
<br /> Section Twenty-one (21), Township Eleven (11) North, Range Nine (9) West of the 6th P.M., Hall County,
<br /> NE,excepting therefrom tracts of land more particularly described in Deed recorded in Book 99, Page 682 and
<br /> Qitclaim Deed recordedin Book 137, Page 225 and Warranty Deed recorded in Book 144, Page 204 and
<br /> Warranty Deed recorded as Document No. 78-000393..
<br /> The Property is located in HALL COUNTY County at 804 W STOLLEY PARK RD, GRAND ISLAND, Nebraska
<br /> 68801.
<br /> Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all
<br /> diversion payments or third party payments made to crop producers and all existing and future improvements,
<br /> structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate
<br /> described (all referred to as Property►. This Security Instrument will remain in effect until the Secured Debts and
<br /> all underlying agreements have been terminated in writing by Lender.
<br /> 2. MAXIMUM OBL:IGAT�ON`�LI`IVIIT. The total principal amount secured by this Security Instrument at any one
<br /> time will not exceed S200,000.00. This 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 to advances
<br /> made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br /> covenants contained in this Security Instrument.
<br /> 3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br /> A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br /> replacements. A promissory note, No. LINE#, dated October 6, 1999, from Grantor to Lender, in the amount
<br /> of S200,000.00 with interest at the rate of 8.75 percent per year maturing on November 6, 2001.
<br /> B. All Debts. All present and future debts from Grantor to Lender, even if this Security Instrument is not
<br /> specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br /> one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br /> with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a
<br /> commitment to make additional or future loans or advances. Any such commitment must be in writing. In the
<br /> event that Lender fails to provide notice of the right of rescission, Lender waives any subsequent security
<br /> interest in the Grantor's principal dwelling that is created by this Security Instrument. This Security
<br /> Instrument will not secure any debt for which a non-possessory, non-purchase money security interest is
<br /> created in "household goods" in connection with a "consumer loan," as those terms are defined by federal
<br /> law governing unfair and deceptive credit practices. This Security Instrument will not secure any debt for
<br /> which a security interest is created in "margin stock" and Lender does not obtain a "statement of purpose,'
<br /> as defined and required by federal law governing securities.
<br /> C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
<br /> Instrument.
<br /> 4. PAYMENTS. Grantor agrees that al� payments under the Secured Debts will be paid when due and in
<br /> accordance with the terms of the Secured Debts and this Security Instrument.
<br /> 5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed by
<br /> this Security Instrument and has the right to irrevocably grant, convey and sell the Property to Trustee, in trust,
<br /> with power of sale. Grantor also warrants that the Property is unencumbered, except for encumbrances of
<br /> record.
<br /> 6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other
<br /> lien document that created a prior security interest or encumbrance on the Property, Grantor agrees:
<br /> A. To make all payments when due and to perform or comply with all covenants.
<br /> B. To promptly deliver to Lender any notices that Grantor receives from the holder.
<br /> C. Not to allow any modification or extension of, nor to request any future advances under any note or
<br /> agreement secured by the lien document without Lender's prior written consent.
<br /> 7. CLAIMS AGAINST TITLE. Grantor will pay all taxes, assessments, liens, encumbrances, lease payments,
<br /> ground rents, utilities, and other charges relating to the Property when due. Lender may require Grantor to
<br /> provide to Lender copies of all notices that such amounts are due and the receipts evidencing Grantor's
<br /> payment. Grantor will defend title to the Property against any claims that would impair the lien of this Security
<br /> Instrument. Grantor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Grantor
<br /> may have against parties who supply labor or materials to maintain or improve the Property.
<br /> 8. DUE ON SALE. Lender may, at its option, declare the entire balance of the Secured Debts to be immediately
<br /> due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. This
<br /> right is subject to the restrictions imposed by federal law governing the preemption of state due-on-sale laws, as
<br /> applicable.
<br /> 9. WARRANTIES AND REPRESENTATIONS. Grantor has the right and authority to enter into this Security
<br /> Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing
<br /> Grantor or to which Grantor is a party.
<br /> 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Grantor will keep the Property in good condition
<br /> and make all repairs that are reasonably necessary. Grantor will not commit or allow any waste, impairment, or
<br /> deterioration of the Property. Grantor will keep the Property free of noxious weeds and grasses. Grantor agrees
<br /> that the nature of the occupancy and use will not substantially change without Lender's prior written consent.
<br /> Grantor will not permit any change in any license, restrictive covenant or easement without Lender's prior
<br /> written consent. Grantor will notify Lender of all demands, proceedings, claims, and actions against Grantor, I
<br /> and of any loss or damage to the Property. �
<br /> TIMOTHY R O'NEILL x�
<br /> Nebraska Deed Of Trust Initial u�e
<br />� .�c�o.,..w...�ncconnnnnnnnnnnnnn�ennn(1(1n3RnA '�1996 Bankers Svstems,Inc.,St.Cloud,MN a9e 2
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