200311310 - Laserfiche WebLink

Browse

200311310 The R,evoeable Trust Trustcts warrant to the Lender that: (i) the Revocable Trust is v: lidly created under the laws of the State of Missouri ; (1) the trust instrument cresting the Revocable i rust is in full force and effect and Stare are no amendments or other modifications to the trust instrument i'Mctinl the revocabiliry of ff the Revocable Trust; (iii) the property is located in the State of Nebraska ; (iv) he Revocable Trust Trustees have full power and authority as trustees under the trust insmumcut creating the Revoeu ble Trust and under applicable law to execute the Security Instrument, including this Rider; (v) the Revocable 'mist Trustees have executed the Security Trtstrtmnent, Including this Rider. on behalf of the Revocable Trust; (vi) he Revocable Trwt Sediors have executed the Security Instrument, including this Revocable Trust Rider, acknowle< -zing all of the tens and conditions contained therein, and agreeing to be bound thereby', (vii) only the Revocable 7 -as( Settlors and the Revocable Trust Trustees may hold any power of direction over the Revocable Tntst; (viii) only the Revocable Trust Settlors hold the power to direct the Revocable Trust Trustees in the management of the Prc arty; (ix) only the Revocable Trust Settlors hold the power of revocation over the Revocable Trust; and (x) be Revocable Trust Trustees have not been notified of the existence or assertion of any lien, encumbrance c • claim against any beneficial interest in, or transfer of all or any portion of any beneficial interest in or powers if direction over the Revocable Trust Trustees or the Revocable Trust, as the case may be, or power of revocatiot over the Revocable Trust. 2. NOTICE OF CHANG1f,S TO REVOCABLE TRUST AND TRANSFER 01 POWERS OVER REVOCABLE TRUST TRUSTIEES OR REVOCABLE TRUST OR BOTH; NOTICE OF CHANGE OF REVOCABLE TRUST TRUSTEES; NOTICE OF CHANGE OF OCCUPANCY OF rH1E PROPERTY; NOTICE OF TRANSFER OF BENEFICIAL INTEREST IN REVOCABLE TRUST. The Revocable Trust Trustees &ball provide timely notice to the Lender promptly upon notict or knowledge of (i) any revocation or termination of the Revocable Trust; or (ii) of any change in the holders of t t powers of direction over the Revocable Trust Trustees or the Revocable Trust, as the case may be, or of any chaug : in the holders of the power of revocation over the Revocable Trust, or both; or (ih) any change in the trustees o: the Revocable Trust (whether such change is temporary or permanent); or (Iv) any change in the occupancy of th Property; or (v) any sale, transfer, assignment or other disposition (whether by operation of law or otherwise) of an beneficial interest in the Revocable Trust B. ADDITIONAL BORROWERS. The term "Borrower" when used in the Security Instrument shall refer to the Revocable Tres . the Revocable Trust Trustees and the Revocable Trust Settlors, jointly and severally. Each patty signing this RI( :r below (whether by accepting and agreeing to the terrors and covenants contained berein or by acknowledging all of the terms and covenants contained herein and agreeing to be bound thereby. or both) covenants and agret ; that, whether or not such party is maned as "Borrower" on the first page of the Security Instrument, each eovem at and agreement and undertaking of the 'Borrower" in the Security Instrument shall be such party's covenat t and agreement and undertaking as "Borrower" and shall be enforceable by the Lender as if such party were name 1 as "Borrower" in the Security instrument. C. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN THE R] ,VOCABLE TRUST. Uniform covenant IS of the Security Instrument is amended to read es follows: Transfer of Beneficial Interest; Transfer of the Property. If, without the Leader's prior written consent: (i) all or any pact of the Propert • or an interest in the property is sold or transferred; our (ii) there is a salt, transfer, assignment or otter dispos lion of any beneficial interest is the Revocable Trust, the Lauder may, at its option, require immediate payment in tell of all sums secured by the Security Instrument. However, this option shall not be exercised by the Lender if e: ercise is prohibited by federal law as of the date of the Security Instrument. 03SQ : et /or fte 2