|
<br />200606372
<br />
<br />Space Above This Line For Recording Data
<br />
<br />DEED OF TRUST
<br />
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is June 30, 2006. The parties and
<br />their addresses are:
<br />
<br />TRUSTOR (Grantor):
<br />JUDITH A. LAUTENSCHLAGER
<br />A Single Person
<br />11525 S. Hwy 281
<br />Doniphan, Nebraska 68832
<br />
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Nebraska Corporation
<br />PO Box 430
<br />Kearney, Nebraska 68848
<br />
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />810 Allen Drive
<br />Grand Island, Nebraska 68803
<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 sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />describedrroperty: South Half of the Southwest Quarter (Sl/2SW1/4) and the South Half of the
<br />North Ha f of the Southwest Quarter (Sl/2N1/2SW1/4) of Section Eight (8), Township Nine (9)
<br />North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska excepting a certain tract
<br />deeded to the State of Nebraska more particularly described in Warranty Deed recorded as
<br />Document No. 82-002223 and exceyting a certain tract more particularly described in
<br />Condemnation recorded in Book 17, Pa~e 452.
<br />The property is located in Hall County at , , Neoraska .
<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 anyone
<br />time will not exceed $260,000.00. 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. The term "Secured Debts" includes and this Security Instrument will secure each of the
<br />following:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note or other agreement, No. 254953-100, dated June 30,2006, from Circle L
<br />Land & Cattle, Inc. and Judith A. Lautenschlager (Borrower) to Lender, with a loan amount of $260,000.00.
<br />B. All Debts. All present and future debts from Circle L Land & Cattle, Inc. and Judith A. Lautenschlager to
<br />Lender, even if this Security Instrument is not specifically referenced, or if the future debt is unrelated to or
<br />of a different type than this debt. If more than one person signs this Security Instrument, each agrees that it
<br />will secure debts incurred either individually or with""others who may not sign this Security Instrument.
<br />Nothing in this Security Instrument constitutes a commitment to make additional or future loans or
<br />advances. Any such commitment must be in writing. In the event that Lender fails to provide any required
<br />notice of the right of rescission, Lender waives any subsequent security interest in the Grantor's principal
<br />dwelling that is created by this Security Instrument. This Security Instrument will not secure any debt for
<br />which a non~possessory, non-purchase money security interest is created in "household goods" in connection
<br />with a "consumer loan," as those terms are defined by federal law governing unfair and deceptive credit
<br />practices. This Security Instrument will not secure any debt for which a security interest is created in
<br />"margin stock" and Lender does not obtain a "statement of purpose," as defined and required by federal law
<br />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 />
<br />Circle L Land & Cattle, Inc.
<br />NebraSka Deed Of Trust
<br />NE/4XX28344000937100005187015071306Y
<br />
<br />@1996 Bankers Systems, Inc" St. Cloud, MN ~
<br />
<br />Initials
<br />Page 1
<br />
|