|
<br />WHEN RECORDEO MAIL TO:
<br />SII......n County Bank
<br />734 "0' S-'
<br />P.o.!lox SC3
<br />Loup City, HE CIIS3
<br />
<br />88-105575
<br />
<br />SEND TAX NOTICES TO:
<br />
<br />KAROL KAY SCHWIEGER tomerty known as KAROL KAY
<br />GRIM ond RICHARD L. SCHWIEGER
<br />Box 37
<br />Loup CIty, NE 11153
<br />
<br />SPACE ABOVE THIS UNE IS FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF muST IS DATED OCTOBER 7, 198., AMONG KAROL KAY SCHWIEGER lom.rty known .. KAROL KAY GRIM and RICHARD L.
<br />SCHWIEGER, hUlband and wtte. whoa. acIcIrua Is Box 37, Loup City, HE 6I8S3 (refelTed to belbw as -Grantor-): Shennan County' Bank,
<br />whOM .ddrau II 734 -Ow Street, P.O. Box 5C3. Loup CIty, HE 68853 (referred to below BOm.Umes .. -Lemler"" and BomeUmea as
<br />-Beneflcfa.ry1: and Sherman County Bank, whose adtJrus Is 734 "0. Street - Loup City, Nebraska 88853, rah1rrecf to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Grantor conveys to TruS1ee for the benefit 01 Lender as Benefictary an of Grantor's righi, title,
<br />and InterBSt In and to the following described real property, logather with all existing or subsequently erected or affixed buUdlngs. Improvemerns and
<br />fixtures; BII easements, rights a' way, and appunenances; all water, waler rights and ditch rights (including stock In utilities with ditch or lrrlgatlon rights);
<br />and aU other rights, ~yaJtfes, and prnrrts mlatlng to the real property, Including without limitation all minerals, 011, gas, geothermal and slmlIar matters,
<br />located In HBIJ County, Staig~! ~:dDraska (tho "Real Property"):
<br />Lot Th.... (3), Block Two (2), Moves Rrst Addition to the City of Grand Island. Ht'lI County. Nebraska.
<br />The Real Property or Its address Is corrroonly known 89 643 E. Memorial Drive, Grand Island. NE 68801.
<br />Grantor presenlfy assigns to Lender (also known as Benoflciary In Ihis Doed 01 Trust) all of Grantor's righi, tlde, and Interest In and 10 the Rents from the
<br />Property. In addition, Grantor grants Landor a Unlfonn CommorclaJ Code security Interest In the Rents and the Personal Property defined below.
<br />DEFlNmON5. The following words shall have the following meanings when used In this Deed 01 Trust
<br />Beneftclary. TIle word "Beneficiary" means Sherman County Bank, lis successors or assigns. Shennan County Bank also Is referred to as
<br />"LBnder"' In this Deed 01 Trust
<br />Deed of Truat. The words "Deed of Trusr moan this Deed of Trust among Grantor, Lender. and Trustee, and Include without limitation all
<br />assignment and securtty interest provisions relatlng to lhe Personal Property and Rents.
<br />Grantor. The word "Grantor" means any and all persons and entities executing this Deed of Trust, Including wlthout limitation KAROL KAY
<br />SCHWIEGER fomer1y known as KAROL KAY GRIM and RICHARD L SCHWIEGER.
<br />Improv....-nta. The word "Improvements" moans and Includes without lIrri1ation all existing and future Improvements, fixtures. buildIngs.
<br />structures. mobile homes affixed on the Real Property, faclllUe9. additions and simler construction on the Real Property.
<br />IncMbtedneu. The word "Indebtedness" means all principal and Interest payabJe under the Note and any amounts expended or advanced by
<br />Lender to discharge obligations of Grantor or expenses Incurred by Trustee or Lender to enf obi tlons of Grantor under this Deed of Trust,
<br />togB1har with Interust on such amounts as provided In this Deed 01 Trust (InlUlI Here :S. ~ 5.) In adtfrtion to the Nole, the word
<br />"Ir,debtedness-lndude9 the following desctlbed prior Indebtedness: Promissory Nole No. 7 daled October 7, 1968 In the principal amount oj
<br />$21,549.89 from RIchard L SchwIeger to Sherman County Bank. dUB Octobef' 7, 1995.
<br />Lender. The word "len~ means Sherman County Bank. Its successors or BSSIgns.
<br />Hote. The'tlllOrd "No.- muna the note or credtt agreement dated October 7. 1988 In the principal amount of $2t,549.89 Irom Grantor to
<br />Lender.1Ogelher with aD renewals, extensions, modlflcatlons, refinancings, and substitutlons for tho nole or credit agreement The maturity dale of
<br />this Dood 01 TruS11s Oc1obor 7. 1995, NOTICE TO GRANTOR: THE NOTE CONTAINS A VARIABLE IKTalEST RATE.
<br />PeraoMl Propwty. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property owned by Grantor, now
<br />or ~ attached or 8ffixed to the Real Property; together with an accessions, parts. and additions to. all replacemunts 01. and all substitutions
<br />for. any ot such property; and together with all proceeds (Including withoutlim/tatlon all Insurance proceeds and refunds of premiums) from any
<br />$IIJe 0( other disposition of the Property.
<br />Property. The word "Property" means coIloctiveIy the Relll Property and the Personal Property.
<br />Real Property. The words "Real Property" mean the property, interests anc rights described above In the "Conveyance and Granr section.
<br />Related Documents. The words "Rele.ted OocumentsM mean and Include without Iiml.1ation all promissory notes, credit agreements, loan
<br />agreements., guBrsodes, 90CUrtty agreements, mortgages, deeds of trust, and an other documents, whether now or hereafter existing, executed in
<br />connection with Grantor's Indebtedness 10 Lender.
<br />Rents. The word "Rents" means all rents, revenues, lncoms. Issues, and profits Irom the Property.
<br />Trustee. The word -Trustee" means Sherman County Bank or any successor lrustee.
<br />THIS DEED OF mUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY IKTalEST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE INIlEIrTEDNESS AND (2) PERFORMANCE OF ANY AND All. OBUGATlONS OF
<br />GRANTOR UNIlER THE NOTE AND THIS DEED OF muST, THIS DEED OF muST IS GIVEN AND ACCEPTED ON THE FOLLOWING lERMS:
<br />PAYMENT AND PERFORMANCE. Excepll!lS otherwise provided in this Deed 01 Trust. Grantor shllll pay to Landor all amounts secured by this Deed 01
<br />Trust as they become due, and shaD stric1ty perform all of Granlor's obligatlons under the Note and this Deed 01 Trust.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agroes that Its possession and use of the Property shall be governed by the
<br />IolIOwlng ~fOvIolo""
<br />
|