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<br />J
<br />WHEN RECORDED MAIL TO:
<br />Shorman Coumy Bank
<br />734 "0" SirMt
<br />P.O. Sox 543
<br />Loup Clty, NE 11153
<br />
<br />88- 102842
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<br />SEND TAX NOnCES TO:
<br />Gary SmIth Conatzuctlon Co.. Incl.
<br />Loup ettv, NE UIS3
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<br />SPACE ABOVE THIS UNE IS FOR RECORDER'S USE ONLY
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<br />DEED OF TRUST
<br />
<br />THIS MED OF tRUST IS DATED JUNE 1, till, AMONG Gary Smltb ConatructIon Co., lno., a Nebruka Corporation, whoM addreu Ie , Loup
<br />CIty. HE NI53 (Nferred to below u "Grantorj; SIMnnan Count)' IIanII, whoM addNea Ie 734 .0" SIrMt, P.O. Box 1543, Loup CIty, ME 11153
<br />(,.,."... to bIkM 80fMCIIMa .. "lAnder" and eonHIIImea .. "IIeMIIcIar('); and Sherman Courdy BlInk, whoM IICIchu Ie 734 "0'" Street -
<br />Loup CIty........ 1IIS3,........... to below .. "Tru....).
<br />
<br />CONVEYANCE AND GRANT. For vlllulble consideration. Grlmor conveys to Trustee for the beneIIt 01 Lender as Beneflclary III of Grantor's light, tille,
<br />and Inter8IIln Ind to !he following described rOlll property, together with 8Il existing or subellquently 81ICted or afIlxed buildlnge. ~vementI and
<br />fbClUres; IIIlN11181118f1tl. rights of Will, and eppurtoncnc:es; 811 wlteT. water r1ghtB and ditch r1gtna (Including S10Ck In utiIItIee with ditch or irrigation rights);
<br />and II ou. rights. royallies. and profits rol8llng to the relll property, Including wlthoutlimitltlon .. minerals. oK. gas, geothermal and 8imiIw matl8rS,
<br />Ioca18d In H" County, Slide 01 Nebraska (the "Rell Property"):
<br />
<br />Lot t CIenIand Subclvlalon and Lot . Hayman'. SWcIYIsIon to Grand laIand, HaD County, Nebruka.
<br />
<br />The Rul Property or Its addnlsa Is conmonly known as 2707 South North Road, Grind Island, NE 68801.
<br />
<br />Gnmtor preeenlIy IISSIgIll to Lender (also known as BoneflclllfY In thi8 Deed of Trust) .. of Grantor's right, title, and In!8reSt in and to the RenIIfrom the
<br />Property. In addition, Grantor grants Lendor I Uniform Col'nmII'clal Code _Cl.lIity Interest In the Rents Ind the Personal Property defined below.
<br />
<br />DEFINITIONS. The foIowlng words sh" have tho foAowlng meanlngs when uged In this Deed of Trust:
<br />
<br />1IMddary. The word "BenefIciaJy" means Sherman County Bank. Ita 8IUCC8IlIOf'S or uaigll8. Sherman County Bank Il1o II ~ec:t to ..
<br />"I.Bnder" In this Ooec:t of Trust.
<br />
<br />Deec:t of Trual The words ~Oeed of Trusf' mean this Deed of Trust among Grlmor. !.ender, and Trustee, and include without IimIUdIon II
<br />IlIIlIigmwnt and lMICUrttv Interest provlslom rDlating to ,he Peraonll Property Ind Renta.
<br />
<br />Grantor. The word "Grantor" means Iny and III! persoOl and en1llles executing thi8 Deed of Trust, Including without IImItIIIon Gary SmIlt1
<br />Col'lltructlon Co., Inc..
<br />
<br />ImprovlNMn\:L The word '/lllfovemenfS" means and Includel without IImIlatlon III exllltlng and future Improvements. ftxIuree, bulldngs.
<br />strucIulll8, mobile homes atlbced on tho Real Property. flllCll/Uell, addltloOllnd almII. construction on the R811 Property.
<br />
<br />I~ The word 'ndebtednoss" meMS III principal and Interest p~able under the Note and any .-nounta expended or advanced by
<br />Lender 10 ~harge obligations of Grantor or oxpeOllOlJ incurred by TnJlR88 or Lender to onIorce Obllgallolll of Grantor under this Deed of TN!!.
<br />IOgIlher with Interest on such amounts as provided In this Deed 01 Trust.
<br />
<br />lAnder. The word "Lender" means Sherman County alnk, Ita 8UCCeIl5GfS or aseigns.
<br />
<br />Hole. Tho wont .HeM" IMMS 11M noIe or crocIt .......... elided June 1, t_ In 11M ~ an'IOiIIIt of $40,000.00 from GranIor 10
<br />Lander, togeUw with.. renewtlls, exteo9ions. mocllflcatlone, IlIftnanclnga, and subatilJt60na!of the note or Cf8diIIlgI'8el.l8Il!. The nwkIrity dIIII of
<br />lhIIl'eed of Trust II June 1, 1993. NOTICE TO GRANTOR: 1HE NOll: CONTAINS A VARlAaI! INTEREST RATE.
<br />
<br />fWeonaI Property. The wonts "Penonll Property" mHn II equipment, flxtures. and ou. .nlcI8a of personal propef1y owned by Grantor. now
<br />or her..... Gt!achecl or alibied to the ReII Property; togCtlher with 51 1CC0000nll, parts. and acklIIloll8 to. III replacemlnta of. and .. IUbatitu1Ions
<br />for. any of such property; and together with III procaeds (Including without lImItallon II inlurance pIOCoods and refunds of prerriuO'1l) from any
<br />SIIe or other di8posItIon of the Property.
<br />
<br />Propertwo. The word "Propony" means cotlectlvely Ihe Roal Property and the Pursonal Property.
<br />
<br />RuI Property. Tho word! "RG~ Property" lTlllan tho property, interests and rights deecrlbed above In the .Conveyance and Grlnt" S8Clion.
<br />
<br />Related Documenb. The words "Relatod Documents. moan and Include without Iimllallon .. promissory notes, aedlt agteOn'l8fl1I, loan
<br />~ts, gu.lIltJes, oocurlty agrooments. mortgages. deeds ollJUsl, and all other documents, whelher now or hereafter existing. executed in
<br />cormeetion with Grantor's Indet.todness Irl Lender.
<br />
<br />Ranb. The word "Ronts" mean!il1II rents, rovent/os, Income, issues, and profits !rom the Property.
<br />
<br />Trus.... The word "Trus18O" lTIfIa'" Sherman County aank or Iny IiUC08lI8Or trustee.
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<br />THIS DEED OF tRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAl.
<br />PROPERTY, IS GIVEN TO Sl:CUflE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND AU. oeuGAllONS OF
<br />GRAHTOft UNDEft THE NOTE AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCUTED ON THE FOU.OWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except 13 01h8rwtge provided in this Dged of Trust, Gfantor llhlll pay 10 LGndor all amounts lMlCUl'ed by this Deed 01
<br />Trust . they become duo. and shall strIc1Iy perform III of Grantor's obligations undllr the Note and ltlIs Ooed 01 Trusl
<br />
<br />POSSESSION AND MAINTENAHCE OF THE PROPERTY. Grantor agroes Ihallts posseaslon llnd uso 01 the Property shllR bo governed by the
<br />fo!!owlng proII'isIoll$:
<br />
<br />~llkm and Un. UnlU the occurrence 01 an Evont 01 Oelaun, GrMtor may (a) mmaln In possesslon and control of the Property, (b) oporalO
<br />and manage the Property, and (c) colloctlhe Ronts from tho Proparty.
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