|
200304815
<br />The property is located in HALL at 1216 SOUTH LINCOLN AVENUE
<br />(County)
<br />GRAND ISLAND ,Nebraska 68801
<br />(Address) (City) (71P cede)
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights,
<br />ditches. and water stock and all existing and future improvements, structures, fixtures, and replacements that may now, or at any
<br />time in the future, be part of the real estate described above (all referred to as "Property . ")
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not
<br />exceed S 15 , 000. 00 . Tins limitation of amount does not include interest and other fees and charges validly made
<br />punuam to this Security instrument. Also, this limitation does not apply to advances made under the terms of this Security
<br />instrument to protect Beneficiary's security and to perform any of the covenants contained in this Security Instrument
<br />3. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt' is defined as follows:
<br />A. Debt incurred Ruder the terms of the promissory note, revolving line of credit agreement, contract, guaranty or other
<br />evidence of debt dated (12 124 1 20D3together with all amendments, extensions, modifications or renewals. The maturity
<br />date of the Secured Debt is 03I 0512005
<br />B. All future advances from Beneficiary to Trustor under evidence of debt, whether obligatory or discretionary. All future
<br />advances are as if made on the date of this Security Instrument Nothing in this Security Instrument shall constitute a
<br />commitment to make additional or fiane loans or advances which exceed the amomu shown in Section 3. Any such
<br />commitment must be agreed to in a separate writing.
<br />C. All sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting the Property
<br />and its value aid any other sums advanced and expenses incurred by Beneficiary under the terns of this Security
<br />Instrument.
<br />5. PAYMENTS. Truster agrees that all payments tinder the Secured Debt will be paid when due and in accordance with the terms of
<br />the Secured Debt and this Security Instrument.
<br />6. WARRANTY OF TITLE. Truster warrants that Trustor is or will be lawfully seized of the estate conveyed by this Security
<br />hism inient and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of sale. Tmstor also
<br />warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document
<br />that created a prior security interest or encumbrance on the Property, Truster agrees:
<br />A. 't to make all payments when due and to perform or comply with all covenants.
<br />B. I a promptly deliver to Beneficiary any notices that Toaster receives from the holder_
<br />C. Not to allow any modification or extension of, nor to request any future advances raider any note or agreement secured by
<br />the lien document without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE. Truster will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of
<br />all notices that such amounts are due mid the receipts evidencing Truster's payment. Trustor will defend title to the Property
<br />against any claims that would impair the Gen of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by
<br />Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve
<br />the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be
<br />immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the
<br />Property. This right is subject to the restrictions imposed by federal taw (12 C.F.R. 591), as applicable. This covenant shall run
<br />with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrimient is released.
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and make
<br />all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the
<br />Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the occupancv and
<br />use will not substantially change without Beneficiary's prior written consent.. Trustor will not perrriil any change in any license,
<br />restrictive covenant or casement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands,
<br />proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of
<br />inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a reasonable
<br />purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way
<br />rely on Beneficiary's inspection.
<br />J
<br />NEBRASKA DEED OF TRUST
<br />Uj127B(06 /2002) "��
<br />
|