|
+ t>
<br />ca
<br />Ilk�
<br />�9
<br />"�,V
<br />This Deed of Trust, made this � day of ak!ty 2000, by and among Parrella Motors, Inc., a Nebraska
<br />corporation, whose mailing address is 1803 South Locust, Grand Island, NE 68801, (herein Trustor whether one or more); and Arnie
<br />C. Martinez, whose mailing address is 1630 K' Street, Lincoln, NE. 68508, (herein Trustee, whether one or more); and Rex E.
<br />Carpenter, whose mailing address is P.O. Box 610, Grand Island, NE 68802 (herein Beneficiary, whether one or more.)
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST,
<br />WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this Deed of
<br />Trust, the following described real property, located in Lancaster County, Nebraska:
<br />Lot 6, Former Second Subdivision, Grand Island, Hall County, Nebraska
<br />TOGETHER WITH, all rents, profits, royalties, income and other benefits derived from the real property; all leases or
<br />subleases covering the real property or any portion thereof, now or hereafter existing or entered into, and all right, title and interest of
<br />Trustor thereunder; all interests, estate or other claims, both in law and in equity, which Trustor now has or may hereafter acquire in
<br />the real property; all easements, rights -of -way, tenements, hereditaments and appurtenances thereof and thereto; all oil and gas rights
<br />and profits, water rights and water stock; all right, title and interest of Trustor, now owned or hereafter acquired, in and to any land
<br />lying within the right -of -way of any street or highway adjoining the real property; any and all buildings, fixtures, improvements, and
<br />appurtenances now or hereafter erected thereon or belonging thereto, (herein referred to as "Improvement" or "Improvements "); and
<br />any and all awards made for the taking by eminent domain, or by any proceeding or purchase in lieu thereof, of the whole or any part
<br />of the real property. All of the foregoing estate, property and interest conveyed to Trustee herein collectively referred to as the
<br />"Property ".
<br />FOR THE PURPOSE OF SECURING:
<br />(a) The payment of indebtedness evidenced by Trustoes note of even date herewith in the principal sum of $700,000.00
<br />together with interest at the rate or rates provided therein, or the principal and interest on any future advances evidenced by
<br />promissory notes stating they are secured hereby, (herein 'Note" or "Notes ") and any and all renewals, modifications and extensions
<br />of such Note, both principal and interest on the Note being payable in accordance with the terms set forth therein, reference to which
<br />is hereby made.
<br />(b) The performance of each agreement and covenant of Trustor herein contained; and
<br />(c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or advanced under the
<br />terms of this Deed of Trust.
<br />A. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS AND AGREES
<br />AS FOLLOWS:
<br />1. Payment of Principal and Interest. Trustor shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, and all other charges and fees as provided in the Note, and the principal of and interest on any
<br />Future Advances secured by this Deed of Trust.
<br />2. Warranty of Title. Trustor is lawfully seized and possessed of good and indefeasible title and estate to the Property
<br />hereby conveyed and has the right to grant and convey the Property; the lien created hereby, shall constitute a fast lien upon the
<br />Property; the Property is free and clear of all other liens and encumbrances except liens now of record not rendering title
<br />unmarketable; and Trustor will warrant and defend the title to the Property against all claims and demands.
<br />3. Maintenance and Compliance With Laws. Trustor shall keep the Property in good repair and condition and shall not
<br />commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of
<br />Trust is on a leasehold. No improvement now or hereafter erected upon the Property shall be altered, removed or demolished
<br />without the prior written consent of Beneficiary. Trustor shall comply with all laws, ordinances, regulations, covenants, conditions
<br />and restrictions affecting the Property and not commit, suffer or permit any act to be done in or upon the Property in violation of any
<br />law, ordinance, regulation, covenant, condition or restriction. Trustor shall complete or restore promptly and in good workmanlike
<br />manner any improvement on the Property which may be damaged or destroyed and pay, when due, all claims for labor performed
<br />and materials fiunished therefore and for any alterations thereof.
<br />4. Insurance. Trustor, at its expense, will maintain with insurors approved by Beneficiary, insurance with respect to the
<br />Improvements and personal property, constituting the Property, against loss by fine, lightening, tornado, and other perils and hazards
<br />covered by standard extended coverage endorsement, in an amount equal to at least one hundred percent of the full replacement value
<br />thereof and insurance against such other hazards and in such amounts as is customarily carried by owners and operators of similar
<br />properties or as Beneficiary may require for its protection. Trustor will comply with such other requirements as Beneficiary may
<br />from time to time request for the protection by insurance of the interests of the respective parties. All insurance policies maintained
<br />pursuant to this Deed of Trust shall name Trustor and Beneficiary as insureds, as their respective interests may appear, and provided
<br />that there shall be no cancellation or modification with less than 15 days prior written notification to Trustee and Beneficiary. In the
<br />event any policy hereunder is not renewed on or before 15 days prior to its expiration date, Trustee or Beneficiary may procure such
<br />insurance in accordance with the provisions of Paragraph A.6 hereof. . Trustor shall deliver to Beneficiary the original policies of
<br />insurance and renewals thereof or memo copies of such policies and renewals thereof. Trustor shall promptly fumish to beneficiary
<br />receipts evidencing such payment. Failure to fumish such insurance by Trustor, or renewals as required hereunder shall, at the option
<br />of Beneficiary, constitute a default.
<br />5. Taxes, Assessments and Charges. Trustor shall pay all taxes, assessments and other charges, including, without
<br />limitation, fines and impositions attributable to the Property, and leasehold payments or ground rents, if any, before the same become
<br />delinquent. Trustor shall promptly furnish to Beneficiary all notices of amounts due under this paragraph, and in the event Trustor
<br />shall make payment directly, Trustor shall promptly famish to Beneficiary receipts evidencing such payments. Trustor shall pay all
<br />taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust without regard to any law
<br />that may be enacted imposing payment of the whole or any part thereof upon the Beneficiary.
<br />r
<br />6. Additional Liens and Protection of Beneficiary's Security. Trustor shall make all payments of interest and principal and
<br />payments of any other charges, fees and expenses contacted to be paid to any existing lien holders or prior beneficiaries under any
<br />0
<br />Go
<br />.L.. C 3
<br />V7 Ap
<br />06'
<br />M
<br />S
<br />D
<br />;
<br />M
<br />�
<br />Z
<br />o
<br />_
<br />N
<br />-
<br />=30
<br />—4 crr
<br />�
<br />{
<br />n m
<br />rn
<br />=3
<br />�
<br />vv
<br />n O (1 C
<br />DEED OF
<br />TRUST
<br />O
<br />��J
<br />V V z J
<br />2 o J
<br />cR
<br />"�,V
<br />This Deed of Trust, made this � day of ak!ty 2000, by and among Parrella Motors, Inc., a Nebraska
<br />corporation, whose mailing address is 1803 South Locust, Grand Island, NE 68801, (herein Trustor whether one or more); and Arnie
<br />C. Martinez, whose mailing address is 1630 K' Street, Lincoln, NE. 68508, (herein Trustee, whether one or more); and Rex E.
<br />Carpenter, whose mailing address is P.O. Box 610, Grand Island, NE 68802 (herein Beneficiary, whether one or more.)
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST,
<br />WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this Deed of
<br />Trust, the following described real property, located in Lancaster County, Nebraska:
<br />Lot 6, Former Second Subdivision, Grand Island, Hall County, Nebraska
<br />TOGETHER WITH, all rents, profits, royalties, income and other benefits derived from the real property; all leases or
<br />subleases covering the real property or any portion thereof, now or hereafter existing or entered into, and all right, title and interest of
<br />Trustor thereunder; all interests, estate or other claims, both in law and in equity, which Trustor now has or may hereafter acquire in
<br />the real property; all easements, rights -of -way, tenements, hereditaments and appurtenances thereof and thereto; all oil and gas rights
<br />and profits, water rights and water stock; all right, title and interest of Trustor, now owned or hereafter acquired, in and to any land
<br />lying within the right -of -way of any street or highway adjoining the real property; any and all buildings, fixtures, improvements, and
<br />appurtenances now or hereafter erected thereon or belonging thereto, (herein referred to as "Improvement" or "Improvements "); and
<br />any and all awards made for the taking by eminent domain, or by any proceeding or purchase in lieu thereof, of the whole or any part
<br />of the real property. All of the foregoing estate, property and interest conveyed to Trustee herein collectively referred to as the
<br />"Property ".
<br />FOR THE PURPOSE OF SECURING:
<br />(a) The payment of indebtedness evidenced by Trustoes note of even date herewith in the principal sum of $700,000.00
<br />together with interest at the rate or rates provided therein, or the principal and interest on any future advances evidenced by
<br />promissory notes stating they are secured hereby, (herein 'Note" or "Notes ") and any and all renewals, modifications and extensions
<br />of such Note, both principal and interest on the Note being payable in accordance with the terms set forth therein, reference to which
<br />is hereby made.
<br />(b) The performance of each agreement and covenant of Trustor herein contained; and
<br />(c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or advanced under the
<br />terms of this Deed of Trust.
<br />A. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS AND AGREES
<br />AS FOLLOWS:
<br />1. Payment of Principal and Interest. Trustor shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, and all other charges and fees as provided in the Note, and the principal of and interest on any
<br />Future Advances secured by this Deed of Trust.
<br />2. Warranty of Title. Trustor is lawfully seized and possessed of good and indefeasible title and estate to the Property
<br />hereby conveyed and has the right to grant and convey the Property; the lien created hereby, shall constitute a fast lien upon the
<br />Property; the Property is free and clear of all other liens and encumbrances except liens now of record not rendering title
<br />unmarketable; and Trustor will warrant and defend the title to the Property against all claims and demands.
<br />3. Maintenance and Compliance With Laws. Trustor shall keep the Property in good repair and condition and shall not
<br />commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of
<br />Trust is on a leasehold. No improvement now or hereafter erected upon the Property shall be altered, removed or demolished
<br />without the prior written consent of Beneficiary. Trustor shall comply with all laws, ordinances, regulations, covenants, conditions
<br />and restrictions affecting the Property and not commit, suffer or permit any act to be done in or upon the Property in violation of any
<br />law, ordinance, regulation, covenant, condition or restriction. Trustor shall complete or restore promptly and in good workmanlike
<br />manner any improvement on the Property which may be damaged or destroyed and pay, when due, all claims for labor performed
<br />and materials fiunished therefore and for any alterations thereof.
<br />4. Insurance. Trustor, at its expense, will maintain with insurors approved by Beneficiary, insurance with respect to the
<br />Improvements and personal property, constituting the Property, against loss by fine, lightening, tornado, and other perils and hazards
<br />covered by standard extended coverage endorsement, in an amount equal to at least one hundred percent of the full replacement value
<br />thereof and insurance against such other hazards and in such amounts as is customarily carried by owners and operators of similar
<br />properties or as Beneficiary may require for its protection. Trustor will comply with such other requirements as Beneficiary may
<br />from time to time request for the protection by insurance of the interests of the respective parties. All insurance policies maintained
<br />pursuant to this Deed of Trust shall name Trustor and Beneficiary as insureds, as their respective interests may appear, and provided
<br />that there shall be no cancellation or modification with less than 15 days prior written notification to Trustee and Beneficiary. In the
<br />event any policy hereunder is not renewed on or before 15 days prior to its expiration date, Trustee or Beneficiary may procure such
<br />insurance in accordance with the provisions of Paragraph A.6 hereof. . Trustor shall deliver to Beneficiary the original policies of
<br />insurance and renewals thereof or memo copies of such policies and renewals thereof. Trustor shall promptly fumish to beneficiary
<br />receipts evidencing such payment. Failure to fumish such insurance by Trustor, or renewals as required hereunder shall, at the option
<br />of Beneficiary, constitute a default.
<br />5. Taxes, Assessments and Charges. Trustor shall pay all taxes, assessments and other charges, including, without
<br />limitation, fines and impositions attributable to the Property, and leasehold payments or ground rents, if any, before the same become
<br />delinquent. Trustor shall promptly furnish to Beneficiary all notices of amounts due under this paragraph, and in the event Trustor
<br />shall make payment directly, Trustor shall promptly famish to Beneficiary receipts evidencing such payments. Trustor shall pay all
<br />taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust without regard to any law
<br />that may be enacted imposing payment of the whole or any part thereof upon the Beneficiary.
<br />r
<br />6. Additional Liens and Protection of Beneficiary's Security. Trustor shall make all payments of interest and principal and
<br />payments of any other charges, fees and expenses contacted to be paid to any existing lien holders or prior beneficiaries under any
<br />0
<br />Go
<br />.L.. C 3
<br />V7 Ap
<br />06'
<br />
|