|
Deed of Trust 200304940
<br />(Nebraska)
<br />This Trust Deed, made this 21 st day of April, 2003, between Michael D. Schneider, also known as Michael Schneider, and
<br />Laurie A. Schneider, husband and wife , whose address is 15681 California St., Omaha, NE, 68118 Trustor, and Bruce I.
<br />Smith, Attorney at Law, whose address is P. O. Box 790, Grand Island, NE 68802, Trustee,
<br />Witnesseth: That Whereas, Trustor has executed one certain Deed of Trust Note bearing even date herewith and drawn to
<br />the order of Metropolitan Life Insurance Company, hereinafter called Beneficiary, for the principal sum of -- TWO
<br />MILLION SIX HUNDRED TWENTY THOUSAND - -- Dollars ($2,620,000.00), payable in lawful money of the United
<br />States which shall be legal tender in payment of all debts and dues, public and private, at the time of payment, payable in
<br />installments, the final installment due January 5, 2023, with interest thereon from the date of disbursement as therein
<br />provided.
<br />And Whereas, Trustor is desirous of securing the prompt payment of said Deed of Trust Note and all interest and charges
<br />thereon, in whose hands soever the same may be.
<br />Now, therefore, Trustor, in consideration of the premises, and for the purpose aforesaid, hath granted, bargained, sold, and
<br />conveyed, and hereby does grant, bargain, sell and convey unto the Trustee, in trust, with power of sale, pursuant to the
<br />Nebraska Trust Deeds Act (Section 76 -1001 et. seq.), all the following described real estate, premises and
<br />property, situate in the County of Hall and State of Nebraska, to wit:
<br />SEE ATTACHED EXHIBIT "A"
<br />Together with all and singular tenements, hereditaments, privileges and appurtenances, now or hereafter located upon or
<br />belonging to or in anywise appertaining to the above described property, or any part thereof, including any right of
<br />homestead and every contingent right or estate therein.
<br />The Note secured hereby expressly provides that the holder thereof may at its option change or adjust the interest rates set
<br />forth therein.
<br />It is agreed that all irrigation pumps, motors, engines pipes, sprinklers, control panels and accessories, and all other
<br />irrigation equipment together with all water and watering rights of every kind and description, and all improvements,
<br />fixtures and appurtenances connected therewith now or hereafter placed or installed on said premises shall be construed
<br />as affixed to and a part of the real estate hereinabove described and subject to all of the provisions of this Deed of Trust.
<br />The Note secured by this Deed of Trust is further secured by a Financing Statement and Security Agreement of even date
<br />herewith, covering all equipment, improvements, fixtures and appurtenances as described in said Financing Statement and
<br />Security Agreement.
<br />Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents, issues
<br />and profits of the property and of any personal property located thereon with or without taking possession of the property
<br />affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Trustor's collection and retention of such rents, issues and profits as they accrue
<br />and become payable, so long as Trustor is not, at such time, in default with respect to payment of any indebtedness secured
<br />hereby, or in the performance of any agreement hereunder. If any event of default described hereafter in respect to this Deed
<br />of Trust shall have occurred and be continuing, Beneficiary, as a matter of right and without notice to Trustor or anyone
<br />
|