200213627 - Laserfiche WebLink

Browse

DEED OF TRUST Loan No: 10051 200213627 (Continued) l Page 3 such Indebtedness and obligations secured by I Dead of Trust may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otheraise. Neither the acceptance of this Dead of Trust nor its enforcement, whether by court action or pursuant to the power of sale or other powers contained in this Deed of Trust, shall prejudice or in any manner affect Trustee's or Lenders right to realize upon or enforce any other security now or hereafter hold by Trustee or Lender, it being agreed that Trustee and Lender, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No remedy conferred upon or reserved to Trustee or Lender, is intended to be exclusive of any other remedy in this Deed of Trust or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given in this Deed of Trust or now or hereafter existing at law or in equity or by statute. Every power or remedy given by the Note or any of the Related Documents to Trustee or Lender or to which either of them may be otherwise entered, ed, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Lender, and either of them may pursue inconsistent remedies. Nothing in this Deed of Trust shall be construed r s prohibiting Lender from seeking a deficiency judgment against the Trustor to the extent such action is permitted by law. Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or together. If Lender decides to spend money or to perform any of Trustor's obligations under this Deed of Trust, after Trustor's failure to do so, that decision by Lender will not affect Lender's right to declare Truster in default and to exercise Lender's remedies. Request for Notice. Traitor, on behalf of Truster and Lender, hereby requests that a copy of any Notice of Default and a copy of any Notice of Sale under this Deed of Trust be mailed to them at She addressee set forth in the first paragraph of this Deed of Trust Anorneys' Fags; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall became a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses, whether or not there is a lawsuit, including attorneys' face and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining tee reports (including foreclosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law. Truster also will pay any court costs, in addition to all other sums provided by law. MISCELLANEOUS PROVISIONS. The following miscellaneous previsions are a part of this Deed of Trust: Governing Law. This Dead of Trust will be governed by and interpreted In accordance with federal law and the laws of the State of Nebraska. This Deed of Trust has bean accepted by Lender In the State of Nebraska. Choice of Venue. If there is a lawsuit, Truster agrees upon Lender's request to submit tg,ihe junagidtlon of the courts of ADAMS County, State of Nebraska. E Time Is of the Essence. Time is of the essence in the performance of this Deed of Trust. gqe ^,�f -,,, - Waiver of Homestead Exemption. Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Nebraska as to all Intersperses, secured by this Deed of Trust. DEFINITIONS. The following words shall have the following meanings when used in this Dead of Trust: Beneficiary. The word "Beneficiary" means FIVE POINTS BANK OF HASTINGS, and he successors and assigns. Borrower. The word 'Be,.,' means RICHARD A RAIL and RHONDA S RAIL, and all other persons and entities signing the Note. Deed of Trust. The words "Deetl of Trust" mean this Deed of Trust among Truster, Lender, and Trustee, and includes without limitation all assignment and - security interest previsions relating to the Personal Property and Rents. Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, at saq. ( "CERCIA "), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 98-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, at seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, at seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default section of this Deed of Trust. Existing Indebtedness. The words "Existing indebtedness" mean the indebtedness described in the Existing Liens provision of this Deed of Trust. - Guaranty. The word 'Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation parry to Lender, including without limitation a guaranty of all or part of the Note. Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property. Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by Trustee or Lender to enforce Trusters obligations under this Deed of Trust, together with interest on such amounts as provided in this Dead of Trust. Lender. The word "Lender" means FIVE POINTS BANK OF HASTINGS, its successors and assigns. The words "successors or assigns" mean any person or company that acquires any interest in the Note. Note. The word "Note" means the promissory note dated December 2, 2002, In the original principal amount of $201045.50 from Truster to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. The maturity date of this Deed of Trust is December 16, 2007. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Truster, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property. Property. The word "Property" means collectively the Real Property and the Personal Property. Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust. Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and Documents, whether now or hereafter existing, executed in connection with the Indebtedness. Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property. Trustee. The word "Trustee" means Five. Points Bank of Hastings, whose address is P.O Box 55, Hastings, NE 68902 -0055 and any substitute or successor trustees. Trustor. The word " Trustor" means RICHARD A RAIL and RHONDA S RAIL.