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<br />WHEN RECORDED MAIL TO:
<br />Farmers State Bank
<br />2nd and Vine
<br />P. O. Box 246
<br />Silver Creek, NE 68663 -0246 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $250,000.00.
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<br />THIS DEED OF TRUST is dated February 15, 2002, among Nancy Stephens, whose address is 209 Sunny
<br />Drive, Doniphan, NE 68832 and Kurvin B. Sampson, whose address is 209 Sunny Drive, Doniphan, NE
<br />68832; wife and husband ( "Trustor "); Farmers State Bank, whose address is 2nd and Vine, P. 0. Box 246,
<br />Silver Creek, NE 68663 -0246 (referred to below sometimes as "Lender" and sometimes as "Beneficiary");
<br />and Farmers State Bank, whose address is P. 0. Box 246, Silver Creek, NE 68663 (referred to below as
<br />"Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property includin
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall County, §tate of
<br />Nebraska:
<br />Beginning at a point 843.8 feet East of the Southwest Corner of Section Three (3), Township Eleven (11)
<br />North, Range Nine (9) West of the 6th P.M.; running thence North on a line parallel with the Section line
<br />516 feet; thence East on a line parallel with the Section line 421.4 feeet; thence South parallel with the
<br />Section line 516 feet, to the South Line of said Section; thence West along said Section line 421.4 feet
<br />to the place of beginning, containing Five (5) acres, more or less AND Commencing at a point 452.8
<br />feet West of the center of the Omaha and Republican Valley Railroad now known as the Ord Branch of
<br />the Union Pacific Railroad Company, and the Northeast Corner of the North Twelve (12) acres, more or
<br />less of the South Thirty -Two (32) acres of that part of that part of the Southwest Quarter (SW 1/4) of
<br />Section Three (3) in Township Eleven (11) North, Range Nine (9) West of the 6th P.M., and lying West of
<br />said Railroad; thence running in a Southerly direction 312.5 feet; thence in a Westerly direction 697.0
<br />feet; thence in a Northerly direction 312.5 feet; thence in an Easterly direction 697 feet to the place of
<br />beginning, containing Five (5) acres, more or less.
<br />The Real Property or its address is commonly known as 908 East Capital, Grand Island, NE 68801.
<br />CROSS- COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
<br />Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower or any one or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due,
<br />direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated whether Borrower or Trustor may be liable
<br />individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such
<br />amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or
<br />hereafter may become otherwise unenforceable.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future
<br />amounts Lender in its discretion may loan to Borrower, together with all interest thereon.
<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
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />interest in the Personal Property and Rents.
<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 (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and not
<br />at the request of Lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the Property; (c)
<br />the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument binding upon Trustor and
<br />do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of
<br />obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no representation to
<br />Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti - deficiency" law, or any other law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a
<br />claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by
<br />this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Deed of
<br />Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of the
<br />Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property; (2)
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<br />WHEN RECORDED MAIL TO:
<br />Farmers State Bank
<br />2nd and Vine
<br />P. O. Box 246
<br />Silver Creek, NE 68663 -0246 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $250,000.00.
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<br />THIS DEED OF TRUST is dated February 15, 2002, among Nancy Stephens, whose address is 209 Sunny
<br />Drive, Doniphan, NE 68832 and Kurvin B. Sampson, whose address is 209 Sunny Drive, Doniphan, NE
<br />68832; wife and husband ( "Trustor "); Farmers State Bank, whose address is 2nd and Vine, P. 0. Box 246,
<br />Silver Creek, NE 68663 -0246 (referred to below sometimes as "Lender" and sometimes as "Beneficiary");
<br />and Farmers State Bank, whose address is P. 0. Box 246, Silver Creek, NE 68663 (referred to below as
<br />"Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property includin
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall County, §tate of
<br />Nebraska:
<br />Beginning at a point 843.8 feet East of the Southwest Corner of Section Three (3), Township Eleven (11)
<br />North, Range Nine (9) West of the 6th P.M.; running thence North on a line parallel with the Section line
<br />516 feet; thence East on a line parallel with the Section line 421.4 feeet; thence South parallel with the
<br />Section line 516 feet, to the South Line of said Section; thence West along said Section line 421.4 feet
<br />to the place of beginning, containing Five (5) acres, more or less AND Commencing at a point 452.8
<br />feet West of the center of the Omaha and Republican Valley Railroad now known as the Ord Branch of
<br />the Union Pacific Railroad Company, and the Northeast Corner of the North Twelve (12) acres, more or
<br />less of the South Thirty -Two (32) acres of that part of that part of the Southwest Quarter (SW 1/4) of
<br />Section Three (3) in Township Eleven (11) North, Range Nine (9) West of the 6th P.M., and lying West of
<br />said Railroad; thence running in a Southerly direction 312.5 feet; thence in a Westerly direction 697.0
<br />feet; thence in a Northerly direction 312.5 feet; thence in an Easterly direction 697 feet to the place of
<br />beginning, containing Five (5) acres, more or less.
<br />The Real Property or its address is commonly known as 908 East Capital, Grand Island, NE 68801.
<br />CROSS- COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
<br />Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower or any one or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due,
<br />direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated whether Borrower or Trustor may be liable
<br />individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such
<br />amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or
<br />hereafter may become otherwise unenforceable.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future
<br />amounts Lender in its discretion may loan to Borrower, together with all interest thereon.
<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
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />interest in the Personal Property and Rents.
<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 (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and not
<br />at the request of Lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the Property; (c)
<br />the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument binding upon Trustor and
<br />do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of
<br />obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no representation to
<br />Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti - deficiency" law, or any other law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a
<br />claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by
<br />this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Deed of
<br />Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of the
<br />Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property; (2)
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