|
DEED OF TRUST
<br />THIS DEED OF TRUST is dated November 15, 2002, among BROWN FAMILY TRUST, Keith W. Brown, J\Y`
<br />Trustee, whose address is 3158 25TH AVE, COLUMBUS, NE 68601 ( "Trustor "); United Nebraska Bank, 2
<br />whose address is Columbus Office, PO Box 606, Columbus, NE 68602 (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary "); and United Nebraska Bank , whose address is P.O. Box 606,
<br />Columbus, NE 68601 (referred to below as "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 Toaster'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
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in Hall
<br />and Buffalo County, State of Nebraska:
<br />Parcel 1: All that part of the NW 1/4 lying South of the Railroad Right -of -Way and the N 1/2 of the SW
<br />1/4, (Also described as Lot 3) and the NE 1/4 of the SW 1/4, Section 18, Township 9 North, Range 13
<br />West of the 6th P.M., Buffalo County, Nebraska,
<br />Parcel 2: A Tract of land comprising a part of the NE 1/4 of Section 6, Township 11 North, Range 10
<br />West of the 6th P.M., Hall County, Nebraska, and more particularly described as follows; beginning at the
<br />NE corner of said NE 1/4; Thence running southerly, along and upon the East line of said NE 1/4, a
<br />distance of 2,645.76 feet to the SE corner of said NE 1/4; thence deflecting right 91 degrees, 01 minutes,
<br />53 seconds and running Westerly along and upon the South line of said NE 1/4, a distance of 1,677.06
<br />feet; thence deflecting right 82 degrees, Ot minutes, 14 seconds and running Northwesterly, a distance of
<br />313.51 feet; thence deflecting left 01 degrees, 57 minutes, 50 seconds and running Northwesterly, a
<br />distance of 2,370.08 feet to a point on the North line of said NE 1/4; thence deflecting right 99 degrees,
<br />55 minutes, 58 seconds and running Easterly, along and upon the North line of said NE 1/4, a distance of
<br />2,082.21 feet to the point of beginning.
<br />The Real Property or its address is commonly known as RURAL HALL COUNTY AND RURAL BUFFALO, NE.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all
<br />future amounts Lender in its discretion may loan to Trustor, together with all interest thereon; however, in no event shall such future
<br />advances (excluding interest) exceed in the aggregate $400,000.00.
<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
<br />present and future leases of the Property and all Rents from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Code security 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 III) 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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Deed of Trust as they became due, and shall strictly and in a timely manner perform all of Truster's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Truster 'a possession and use of the Property shall be
<br />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;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental taws. Trustor represents and warrants to Lender that: U During the period of Truster 'a ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Laws, @) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and da any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor 'a expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Truster or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />m
<br />n
<br />�
<br />T
<br />=
<br />>
<br />m
<br />G,
<br />n
<br />n
<br />z
<br />m
<br />2
<br />D
<br />O
<br />X
<br />C
<br />s N
<br />O
<br />Xii.
<br />m
<br />n
<br />N
<br />N
<br />N
<br />O —i
<br />eD
<br />X
<br />Z
<br />d
<br />M
<br />O
<br />i
<br />i
<br />CD
<br />m.z
<br />N
<br />a
<br />� m
<br />�c>
<br />n
<br />fi
<br />Z3
<br />n
<br />N
<br />pI
<br />•�t:'
<br />cn
<br />N
<br />...c
<br />WHEN RECORDED MAIL TO:
<br />United Nebraska Bank
<br />Columbus Office
<br />PO Box 606
<br />_ Columbus. NE 68602
<br />FOR
<br />RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated November 15, 2002, among BROWN FAMILY TRUST, Keith W. Brown, J\Y`
<br />Trustee, whose address is 3158 25TH AVE, COLUMBUS, NE 68601 ( "Trustor "); United Nebraska Bank, 2
<br />whose address is Columbus Office, PO Box 606, Columbus, NE 68602 (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary "); and United Nebraska Bank , whose address is P.O. Box 606,
<br />Columbus, NE 68601 (referred to below as "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 Toaster'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
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in Hall
<br />and Buffalo County, State of Nebraska:
<br />Parcel 1: All that part of the NW 1/4 lying South of the Railroad Right -of -Way and the N 1/2 of the SW
<br />1/4, (Also described as Lot 3) and the NE 1/4 of the SW 1/4, Section 18, Township 9 North, Range 13
<br />West of the 6th P.M., Buffalo County, Nebraska,
<br />Parcel 2: A Tract of land comprising a part of the NE 1/4 of Section 6, Township 11 North, Range 10
<br />West of the 6th P.M., Hall County, Nebraska, and more particularly described as follows; beginning at the
<br />NE corner of said NE 1/4; Thence running southerly, along and upon the East line of said NE 1/4, a
<br />distance of 2,645.76 feet to the SE corner of said NE 1/4; thence deflecting right 91 degrees, 01 minutes,
<br />53 seconds and running Westerly along and upon the South line of said NE 1/4, a distance of 1,677.06
<br />feet; thence deflecting right 82 degrees, Ot minutes, 14 seconds and running Northwesterly, a distance of
<br />313.51 feet; thence deflecting left 01 degrees, 57 minutes, 50 seconds and running Northwesterly, a
<br />distance of 2,370.08 feet to a point on the North line of said NE 1/4; thence deflecting right 99 degrees,
<br />55 minutes, 58 seconds and running Easterly, along and upon the North line of said NE 1/4, a distance of
<br />2,082.21 feet to the point of beginning.
<br />The Real Property or its address is commonly known as RURAL HALL COUNTY AND RURAL BUFFALO, NE.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all
<br />future amounts Lender in its discretion may loan to Trustor, together with all interest thereon; however, in no event shall such future
<br />advances (excluding interest) exceed in the aggregate $400,000.00.
<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
<br />present and future leases of the Property and all Rents from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Code security 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 III) 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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Deed of Trust as they became due, and shall strictly and in a timely manner perform all of Truster's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Truster 'a possession and use of the Property shall be
<br />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;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental taws. Trustor represents and warrants to Lender that: U During the period of Truster 'a ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Laws, @) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and da any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor 'a expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Truster or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />
|