|
qn
<br />t
<br />r
<br />-�
<br />v
<br />A
<br />n
<br />n
<br />Z n=
<br />~,
<br />w
<br />c.) cn
<br />o M
<br />I�
<br />p
<br />°
<br />w
<br />-n -�
<br />CA
<br />T
<br />C'.)
<br />r
<br />�
<br />>
<br />co
<br />200310592
<br />W
<br />�
<br />C73
<br />�.
<br />CD
<br />^'
<br />z
<br />Space Above This Line For Recording Data
<br />DEED OF TRUST
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is August 6, 2003. The parties and
<br />their addresses are:
<br />TRUSTOR (Grantor):
<br />ENCINGER PROPERTIES, L.L.C.
<br />A Nebraska Corporation
<br />1004 Diers Ave, Suite 310
<br />Grand Island, Nebraska 68803
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Corporation
<br />2223 Second Ave
<br />PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />2223 Second Ave.; PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />47- 0343902
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sel!s to 'Trustee, in trust for the. benefit of Lender, with power of sale, the following
<br />described property:
<br />See Attached Exhibit "A"
<br />The property is located in Hall County at 3477 US Hwy 281, Grand Island, Nebraska 68803.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber,
<br />all diversion payments or third party payments made to crop producers and all existing and future
<br />improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the
<br />real estate described (all referred to as Property). This Security Instrument will remain in effect until the
<br />Secured Debts and all underlying agreements have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $150,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, dated August 6, 2003, from Ibusol, Inc. (Borrower) to Lender, with a loan
<br />amount of $125,049.50 and maturing on August 10, 2008.
<br />B. A!! Debt. AI! present and future debts from !busol.. Inc. to Lender, even if this Security Instrument is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br />with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a
<br />commitment to make additional or future loans or advances. Any such commitment must be in writing. In
<br />the event that Lender fails to provide any required notice of the right of rescission, Lender waives any
<br />subsequent security interest in the Grantor's principal dwelling that is created by this Security Instrument.
<br />This Security Instrument will not secure any debt for which a non - possessory, non - purchase money security
<br />interest is created in "household goods" in connection with a "consumer loan," as those terms are defined by
<br />federal law governing unfair and deceptive credit practices. This Security Instrument will not secure any
<br />debt for which a security interest is created in "margin stock" and Lender does not obtain a "statement of
<br />purpose," as defined and required by federal law governing securities.
<br />C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
<br />Instrument.
<br />4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Security Instrument.
<br />Ibusol, Inc.
<br />Nebraska Deed Of Trust Initials
<br />NE/ 4XX28322000623900003872012080603Y 01996 Bankers Systems, Inc., St. Cloud, MN Ex � Page 1
<br />6
<br />
|