|
<br />
<br />"~.r)l~
<br />
<br />ACKNfl.')WLEDGEMENT OF DEED OF TRUST
<br />
<br />'9341-0902
<br />
<br />TRUSTOR RfAD THIS BEFonE SIGNING:
<br />
<br />Trus,or understands that the document that Trustor Is about to execute Is a Deed of Trust and not a mortgage and that the power
<br />of sale provided lor In the Deed of Trust provldos substantJeliy different rights and obligations to Trustor than a mortgage In the event
<br />of a default or breach 01 obligation under the Deed of Trust, Including, but not limited to, the Lehder',.j right to have the Property eold
<br />by the Trulltee without any judicial pro<:eedlng. Trustor represents and warrants that this ac!mowledOctment wU exacutad by
<br />Trustor before the execution of the Deed of Trust
<br />
<br />Grand Partnership,
<br />J\ Nebras~a Partnership:
<br />
<br />Jfk, ~ // e l' I
<br />, "' ;.-cx../ /)' ~>
<br />Jose hlne K. Cote, Individually)
<br />
<br />
<br />Partner)
<br />
<br />Trustor
<br />(LeR y G. Cote, Individually)
<br />DElED OF TRUST WITH FUTURE ADVANCES
<br />
<br />THIS DEED OF TRUST, is made as of the 22nd day of
<br />
<br />, 19....93-. by and among
<br />
<br />Novp.mhp.r
<br />
<br />the Trustor, --Gr.:(1n(i P:1Il"tnl;'I"'7-hip. . A N~~u-.aska P~rtn('rchlr
<br />whose mailing address is e....I.9 .BOjl( 5 79~ GrandJ..s.land N E 68802-0S7liL (herein "Trustor," whether one or more),
<br />
<br />the Trustee, Flv~ Point.... Bank, A N""hr:;tc:kA .-CorpnrAtlnn
<br />
<br />whose maill,ng address Is P.O. BQX-1507. ~Iand NE 68602-1507
<br />the Beneficiary, Five P.nl.n1.a-61mK, A Nebraska Corporation
<br />whosemailingaddress!s....EnRny11\07.Grandlslan(~.NE 688Q1-15n7
<br />
<br />(herein "Trustee'1, and
<br />
<br />(herein "Lender'"
<br />
<br />FOR VALUABLE CONSIDERATION, inclUding Lender's e)!tenslon of credit Identified herein to r:rRnd Partnership,
<br />
<br />A....l'Jl'hrRc;kR CnrporRtll"..D. _. (herein "Borrowl1r", whether one or more) ::'ild the trust horein created,
<br />the receipt of which Is hereby acknowledged, Trustor he;,eby Irrevocably grants, tranlllers, ,...."veys and assigns to Trustetll, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security 01 Lender, under and subje,.!:", the terms and conditions hereInafter set
<br />forth, the real property, described 811 foHoWll:
<br />
<br />The West 10LJ Feet of the South 1 LJa Feet of Block Six. (6) Pleasant Home
<br />Subdivision, of a part of the East Half of the Southeast Quarter (E~SE\) of Section
<br />Twenty-one (21) Township Eleven (11) North, Range Nine (9) West of The 6th P.M.,
<br />
<br />Hal+o~mPtYtt1 afi'J~~~~~~rflprovements, fixtures, streets, alleys, passagewl:':ys, easements, rights, privileges and appurte-
<br />nance3 IClcated .hereon or in anywise pertaining thereto, and the rents, Issues and profits, reversions and remalndersthereol, and
<br />suc" personal property that is attached to the improvements so a$ to constitute a fixture, including, but not limited to, heating and
<br />cooling equipment; and together with the homestead or maritallnteresls, if any, which Interests are hereby released and waived; all
<br />of which, including replacements and additions thereto, Is hereby declare:.! to be a part of the real estah. secured by the lien of this
<br />Deed of Trust and all of the foregoing being referred to herein as the "Property".
<br />
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit
<br />
<br />agreement dated November 22. 1993
<br />
<br />,having a maturity date 01 November 22, 2008
<br />
<br />in the original principal amount 01 $ 67,500.00 , and any and all modifications, extensions and renewals
<br />thereof or thereto and any and all futufp. advances and readvances to Borrower (or any of them If more than one) hereunder
<br />pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment of other sums advanced by
<br />Lender to protect the seCL'rity of the Note: (c) the performance of all covenants and agreements of Trustor set lorth herein; and (d) all
<br />present and future Indebtedness and obligations of Borrower (or any of them II more than one) to Lender whether direct, indirect,
<br /><\b5oiute or contingent and whether arising by note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />other docuents that secure the Note or otherwise executed In connection therewith, Including without limitation guaranteos. security
<br />agreements and assignments 01 leases and rents, shall be referred to herein as the "Loan Instruments".
<br />Trustor covenants and agrees with Lender as follows:
<br />1. Payment of Indebtedne... All Indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor Islhe owner of the Property, has the right and authority to convey the Property, and warrants that the 1!.:IIl
<br />created hereby is a first and prior lien on the Property, except for liens and ellcumbrances srt forth by Trustor In wrltl~g anlj
<br />delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not vblate any
<br />contract or other obligation to which Trustor Is subject.
<br />3. Taxe., AllSellSmenta. To pay before deli; ..,uency all taxes, special assessments and all other charges against the Property
<br />now or hereafte~ levied.
<br />4. Insurance. To keep the Property Insured against damage by fire, hazards Included within the term "ell!ended coverage", and
<br />such other hazards as Lender may require, In amounts and with companies acceptable to Lender, nami"" Lender 8S an addltlonl!l
<br />namFJd Insured, with loss payable to the Lender. In case of loss under such policies, the Lender Is aufl"lorlzed to adjust, collect and
<br />compromise, all claims thereunder and shall have the option of applying all or part of the Insurance f;roceeds (I) to any Indebtedne!ls
<br />secured hereby and In such order as Lender may determine, (II) to the Trustor to be used lor the r~palr or restoration of the Property
<br />or (Iii) for any othel purpose or object satisfactory to Lender without ANectlng the lien 01 this DelJd 01 Trust for tht'lfull amour' secured
<br />hereby before such pAyment ever took place. Any eppllcatlon of proceeds to Indebtedne!ls shell not extend or postpone the due
<br />date of any payments under the Note, or cure any defaullthereunder or hereunder. .
<br />5. Escrow. Upon written demand by Lender. Trustor,hall pay to Lender, in such manner as Lender may deslr~nate, sufficient
<br />~UiTi:;!O enable Lender to pay as they become due one 0; more of the following: (I) al~ taxes, assessments and other ';harges Agalnllt
<br />the Pr0perty, (Ii) the prQlniurns on the property Insurarlce required hereunder, af,d (IIi) the premiums on any mortgage Insurance
<br />required by Lender.
<br />6. Maintenance, Repairs and Compliance with Law.. Trustor shall kr..ep the Property In good condition nnd repair: shall
<br />promptly repair, or replace any Improvement which may be damaged rr destroyed; shall not commit or perrllt any waste Co'
<br />deteriora~jon of the Property; shall not remove, demolish or s:.bstanllalli' alter any 01 the Improvements on the Property; she!! net
<br />c.ommit. sulfer or permit any act to be done In or upon the Property In vlulallon of any law, ordinance, or regulation; I!nd shall pay and
<br />promptly discharge at Trustor's cost and expense all liens, encu~"r8nces and charges levied. Imposad or 8SSl)SSed against thu
<br />Property or any part thereof.
<br />7. Eminent Domain, Lender is hereby assigned all comr.<;Jnsation, awards. damages and other payments or relief (herelnafto:-
<br />"Proceeds") in connecilon with condemnation or other takiilg of the Property or part thereof, or for conveyance. In lieu of condemna-
<br />tion. Lend'lr shall be entitled at its option to ccmrnence. appear in and prosecute in its own name any acllon or proceedings, and
<br />shall "Iso b:'1 entitled to make any comproml ;1) or senlement in connection with such taking or damaR::'. In the event any portion cf
<br />
<br />~8C J..457 {kon""g'reul1l1f~1 0.."0} AIW lO/E'B
<br />"tt 198.8 N.II11-Of'\1lI: BolInk of Comfl'lIlifCI' Trult af'ld SlIvlngl' At.t.OCIIJ' ,,")0, lln.colf'\. NObl'lI1i.kil
<br />
|