|
N
<br />01 �
<br />N
<br />0
<br />■rrr_
<br />+
<br />T
<br />c
<br />Z
<br />F3
<br />M
<br />R1
<br />rn
<br />7C
<br />2
<br />n
<br />M = `. .
<br />Q
<br />6A
<br />0
<br />N R - EC RDEP,
<br />L :,
<br />rn 13
<br />c�
<br />cn a
<br />GAJ
<br />DEED OF TRUST IMMU 31ANCES
<br />C.) U")
<br />O -4
<br />M,,
<br />c�
<br />ru
<br />C7
<br />�1
<br />C7
<br />CJl
<br />ru
<br />M
<br />2
<br />D
<br />THIS DEED OF TRUST, is made as of the 6T" _ day of JUNE_, 2005, by and among the Trustor.
<br />KIRK L. HARTMANN AND MICHELLE R. HARTMANN AS EQUAL TENANTS IN COMMA N whose mailing^
<br />address is 11678 W OLD POTASH HWY, WOOD RIVER, NE 68883 -- herein "Trustor ", whether one or more), the
<br />Trustee, FIRST STATE BANK, whose mailing address is 119 C STREET, P O BOX 639, SHEL_TON, NE 68876 (herein
<br />"Trustee "), and the Beneficiary, FIRST STATE BANK, whose mailing address is 119 C STREET, P O BOX 639,
<br />SHELTON, NE 68876 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to
<br />KIRK L. HARTMANN AND MICHELLE R. HARTMANN, AS EQUAL TENANTS IN COMMON (herein "Borrower,"
<br />whether one or more) and the trust herein created, the receipt of which is hereby acknowledged, Trustor hereby
<br />irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Lender, under and subject to the terms and conditions hereinafter set forth, the rea! property described as
<br />follows:
<br />LOT ONE (1), B & D SUBDIVISION, HALL. COUNTY, NEBRASKA
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights. privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof,
<br />and such personal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and
<br />cooling equipment, and together with the homestead or marital interests, if any, which interests are hereby released and waived; all of
<br />which, including replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed
<br />of Trust and all of the foregoing being referred to herein as the "Property ".
<br />fnis Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note(s) or credit
<br />agreement.(,;) dated .14_IN 4f, 2005 having a maturity date of JUNE 5. 2035 in thr-,, original principal amount of
<br />$ 56,O0O.00 and any and all modifications, extensions, and renewals thereof or thereto and any and all future advances and
<br />readvances to Borrower (or any of them if more than one) hereunder pursuant to one or more promissory notes or credit agreements
<br />(herein called "Note "); (b) the payment of other sums advanced by Lender to protect the security of the Note; (c) the performance of all
<br />covenants and agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any
<br />of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty, overdraft or
<br />otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note or otherwise executed in connection
<br />therewith, including without limitation guarantees, security agreements and assignments of leases and rents, shall be referred to herein
<br />as the "Loan Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid whan due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to conve}° the Property, and warrants that the lien
<br />created hereby is a first and prior lien on the Property, except for liens and encumbrances :et forth by Trustor in writing and delivered to
<br />Lender before execution of this Deed of Trust, and the execution and delivery of this Deed *f Trust Noes not violate any contract or
<br />other obligation to which Trustor is subject.
<br />3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the
<br />Property now or hereafter levied.
<br />A. Insurance. To keep the Property insured against damage by fire, hazards included within the tern "extended coverage ",
<br />and such other hazards as Lender may require, in amounts and with rompranles acceptable to Lender, naming Lender as an additional
<br />named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br />compromise, all clairns thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness
<br />secured hereby and in such order as Lender may determine; (ii) to the Trustor to be used for the repair or restoration of the Property or
<br />(iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
<br />hereby before such payment ever took place. Any ar plications of proceeds to Indebtedness shall not extend or nostocne the due date
<br />of any payments under the Note, or cure any default thereunder or hereunder.
<br />5. Escrow. Upon written demand by Lender, ''"rustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br />SLIMS to enable Lender to nay as they become due one or mono. of the following: (i) all taxes, assessments and other charges against
<br />the Property, (ii) the premiurs on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance
<br />required by Lender.
<br />6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair, shall
<br />promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or
<br />deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not
<br />commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and
<br />promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or accessed against the
<br />Property or any part thereof..
<br />7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief
<br />(hereinafter "Proceeds ") in connection with condemnation or other taking of the Property or part thereof', or for conveyance in lieu of
<br />condemnation. Lender shall be entitled at its option to commence, appear in and prosecute in its own name any ;action or proceedings,
<br />and shall also be entitled to make any compromise or settlement in connection with such taking or darnage. In the event any portion of
<br />the Property is so taken or damaged, Lender ;hall have the option in its sole and abso!ute discretion, to apply all such proceeds, after
<br />deducting therefrom all costs and expenses incurred by it in connection with sucih Proceeds, upon any inaebtedriess secured hereby
<br />and in such order as Lender may determine, or to app!y all such Proceeds, after such deductions, to the restoration of the Property
<br />Page 1of.l *Deed of Trust re —filed to add marital status.
<br />
|