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200508802
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Last modified
10/17/2011 12:24:18 PM
Creation date
10/28/2005 12:13:34 PM
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DEEDS
Inst Number
200508802
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200508802 <br />10. Upon default, Beneficiary, either in person or by agent, with or without bringing any action or <br />proceeding and with or without regard to the value of the property or the sufficiency thereof to discharge <br />the indebtedness secured hereby, is authorized and entitled to enter upon and take possession of the <br />property in its own name or in the name of the Trustee and do any acts or expend any sums it deems <br />necessary or desirable to protect or preserve the value of the property or any interest therein, or <br />increase the income therefrom; and with or without taking possession of the property is authorized to <br />sue for or otherwise collect the rents, issues, crops, profits, and income thereof, including those past <br />due and unpaid, and apply the same upon any indebtedness secured hereby or in the loan <br />agreement(s). <br />No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of <br />any other remedy herein or by law provided or permitted, but each will be cumulative, will be in addition <br />to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute, and <br />may be exercised concurrently, independently or successively. <br />11. Trustor(s) acknowledges that the duties and obligations of Trustee will be determined solely by the <br />express provisions of this Trust Deed or the Nebraska Trust Deeds Act and Trustee will not be liable <br />except for the performance of such duties and obligations as are specifically set forth therein, and no <br />implied covenants or obligations will be imposed upon Trustee; Trustee will not be liable for any action <br />by it in good faith and reasonably believed by it to be authorized or within the discretion or rights of <br />powers conferred upon it by this Trust Deed or state law. <br />12. The integrity and responsibility of Trustor(s) constitutes a part of the consideration for the <br />obligations secured hereby. Should Trustor(s) sell, transfer, or convey the property described herein, <br />without prior written consent of Beneficiary, Beneficiary, at its option, may declare the entire <br />indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any <br />other default. <br />13. Assignment of Rents including Proceeds of Mineral Leases. Trustor(s) hereby assigns, transfers, <br />and conveys to Beneficiary all rents, royalties, bonuses, and delay moneys or other proceeds that may <br />from time to time become due and payable under any real estate lease or under any oil, gas, gravel, <br />rock, or other mineral lease of any kind including geothermal resources now existing or that may <br />hereafter come into existence, covering the property or any part thereof. All such sums so received by <br />Beneficiary will be applied to the indebtedness secured hereby; or Beneficiary, at its option, may turn <br />over and deliver to Trustor(s) or their successors in interest, any or all of such sums without prejudice to <br />any of Beneficiary's rights to take and retain future sums, and without prejudice to any of its other rights <br />under this Trust Deed. This assignment will be construed to be a provision for the payment or reduction <br />of the debt, subject to the Beneficiary's option as hereinbefore provided, independent of the lien on the <br />property. Upon payment in full of the debt and the reconveyance of this Trust Deed of record, this <br />assignment will become inoperative and of no further force and effect. <br />14. This Trust Deed constitutes a Security Agreement with respect to all the property described herein. <br />15. The covenants contained in this Trust Deed will be deemed to be severable; in the event that any <br />portion of this Trust Deed is determined to be void or -unenf rceable, that etermination will not affect <br />the validity of the remaining portions of the Trust Did. � , / - <br />D Mettenbrink Patricia A <br />Arlene O Mettenbrink <br />Four -M Ltd, A Limited Partnership <br />Cr ene Mettenbrink, Gn I Partner <br />Kim Mettenbrink <br />Bruce C Heide <br />By <br />Gary R Meftenbrink, General Partner <br />App #: 28288; CIF #: 132145; Note #: 201 220EK Legal Doc. Date: August 24, 2005 <br />FORM 5011, Trust Deed and Assignment of Rents Page 4 <br />
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