|
S
<br /> 11-01-1999 9 9 11 O H 3 4 DEED OF TRUST � ' ' �- ' Page 2
<br /> Loan No 765516 (Continued)
<br /> Hundred Eighty Five Feet (185'); thence running NortheNy parallel to and One Hundred Eighty-Five
<br /> Feet (185') Westerly from the Easterly line of the West Half of the Northwest Quarter (W1/2NW1/4) a
<br /> distance of Three Hundred Six Feet (306') to the Northerly line of the West Half of the Northwest
<br /> Quarter (W1/2NW1/4); thence running Easterly along and upon the Northerly line of the said West Half
<br /> of the Northwest Quarter (W1/2NW1/4) a distance of One Hundred Eighty-Five feet (185') to the point
<br /> of beginning, except as recorded in Warranty Deed recorded in Book 77, at page 358, in Warranty
<br /> Deed recorded in Book 135 at Page 231 and Deed of Relinquishment recorded in Book 140, at Page
<br /> 304, in Hall County, Nebraska.
<br /> The Real Property or its address is commonly known as 401 W Pine St, Doniphan, NE 68832-9600.
<br /> Trustor presently assigns to Lender(also known as Beneficiary in this Deed of Trust)all of Trustor's right,title,and interest in and to all present and
<br /> future leases of the Property and all Rents from the Property. In addition,Trustor grants Lender a Uniform Commercial Code security interest in the
<br /> Rents and the Personal Property de�iped trelow. ' �
<br /> DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust. Terms not otherwise defined in this Deed of
<br /> Trust shall have the meanings attributed to such terms in the Uniform Commercial Code. All reterences to dollar amounts shall mean amounts in
<br /> lawful money of the United States of America.
<br /> Beneficiary. The word "Beneficiery"means Five Points Bank, its successors and assigns. Five Points Bank also is referred to as"Lender" in
<br /> this Deed of Trust.
<br /> Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all
<br /> assignment and security interest provisions relating to the Personal Property and Rents.
<br /> Exlsting Indebtedness. The words"Existing Indebtedness" mean the indebtedness described below in the Existing Indebtedness section of
<br /> this Deed of Trust.
<br /> Guarantor. The word "Guarantor" means and includes without limitation any and all guarantors, sureties, and accommodation parties in
<br /> connection with the Indebtedness.
<br /> Improvements. The word "Improvements" means and includes without limitation all existing and future improvements, buildings, structures,
<br /> mobile homes affixed on the Real Property,facilities,additions,replacements and other construction on the Real Property.
<br /> Indebtedness. The word"Indebtedness"means all principal and interest payable under the Note and any amounts expended or advanced by
<br /> Lender to discharge obligations of Trustor or expenses incurred by Trustee or Lender to enforce obligations of Trustor under this Deed of Trust,
<br /> together with interest on such amounts as provided in this Deed of Trust.
<br /> Lender. The word"Lender"means Five Points Bank,its successors and assigns.
<br /> Note. The word "Note"means the Note dated November 1,1999, in the principal amount of $14,000.00 from Trustor to Lender,
<br /> together with all renewals, extensions, modifications, refinancings, and substitutions for the Note. The maturity date of this Deed of Trust is
<br /> November 5,2003.
<br /> Personel Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
<br /> owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all
<br /> replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
<br /> proceeds and refunds of premiums)from any sale or other disposition of the Property.
<br /> Property. The word"Property"means collectively the Real Property and the Personal Property.
<br /> Real Property. The words"Real Property"mean the property,interests and rights described above in the"Conveyance and Grant"section.
<br /> Related Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
<br /> agreements,environmental agreements,guaranties,security agreements, mortgages,deeds of trust,and all other instruments,agreements and
<br /> documents,whether now or hereafter existing,executed in connection with the Indebtedness.
<br /> Rents. The word "Rents"means all present and future rents, revenues, income, issues, royalBes, pro�its, and other banefits derived from the
<br /> Property.
<br /> Trustee. The word'Trustee"means Five Points Bank and any substitute or successor trustees.
<br /> Trustor. The word'Trustor"means any and all persons and entities executing this Deed of Trust,including without limitation all Trustors named
<br /> above.
<br /> THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br /> PROPERTY, IS GIVEN TO SECURE (1)PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
<br /> TRUSTOR UNDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED i
<br /> ON THE FOLLOWING TERMS: I
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust,Trustor shall pay to Lender all amounts secured by this Deed ?
<br /> of Trust as they become due,and shall strictly and in a timely manner perform all of Trustor's obligations under the Note,this Deed of Trust,and the
<br /> Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed by
<br /> the following provisions:
<br /> Possesslon and Use. Until the occurrence of an Event of Default,Trustor may (a)remain in possession and control of the Property, (b) use,
<br /> operate or manage the Property,and (c)collect any Rents from the Property.
<br /> �
<br /> Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs,replacements,and maintenance
<br /> necessary to preserve its value.
<br /> Hazardous Substances. The terms"hazardous waste,""hazardous substance,""disposal,""release,"and"threatened release,"as used in this
<br /> Deed of Trust, shall have the same meanings as set forth in the Comprehensive Environmental Response, Compensation, and Liability Act of
<br /> �
<br /> ;
<br />
|