|
<br /> r-t)~ ,., n n ;r-;J ~I
<br /> m :I: )r C"J o u;
<br /> c::>
<br /> ~ m (A _l o ---1
<br /> " , c::1>
<br /> o + Z n :r ,...1"- =:3 :z ~i
<br /> -- EN 'f' n ~ ;::0 ~', = -i[T1
<br /> :J: ~ 0 r"', t-I, = --< C>
<br /> ~ it ~ m ~ Co"") ,-oJ-- oar
<br />1'0 n (/I oc:~ N 0"'"
<br /><Sl -l ~ :c ..,., CD " z ~I
<br /><Sl :C::.e t\: :r: rTl
<br />-..,J 0 ~) )> UJ
<br /><Sl ", f'" ~ rrI ~; -0 IX
<br />N 0 rr1 ::3 r 1'"
<br />.l:::o. 6'--c, '='
<br />to Ul U)
<br />..... :: ~ ~ l-" ^
<br /> 1>
<br /> N --..,...----
<br /> ".. N r;n ~~
<br /> ~ r;n
<br />
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />
<br />/7. 0 0
<br />
<br />This DEED OF TRUST is made this 18th day of November, 2005, by and among Centura Hills Golf
<br />Club LLC, hereinafter referred to as "Trustors," whether one or more, whose mailing address is 312 Centura
<br />Hills Drive, Cairo, Nebraska 68824; THE STATE BANK OF CAIRO, a Nebraska Banking Corporation,
<br />hereinafter referred to as "Trustee," whose mailing address is Box 428, Cairo, Nebraska 68824; and THE
<br />ST A TE BANK OF CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "Beneficiary,"
<br />whose mailing address is Box 428, Cairo, Nebraska 68824.
<br />For valuable consideration, Trustors irrevocably grant, transfer, convey and assign to Trustee, in trust,
<br />with power of sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions of
<br />this Deed of Trust, the following described real property located in Hall County, Nebraska:
<br />
<br />The South Half of the Northeast Quarter (Sl/2NEl/4) and the North Half of the
<br />Southeast Quarter (Nl/2SEl/4) of Section Eighteen (18), Township (12), Range
<br />Eleven (11) West of the 6th P.M. Hall County, Nebraska, and Lots 13, 14 and 19 of
<br />Centura Hills Subdivision, An Addition to the Village of Cairo, Hall County,
<br />Nebraska
<br />
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />and appurtenances located thereon, and all personal property that may be or hereafter become an integral part of
<br />such buildings and improvements, all crops raised thereon, and all water rights, all of which, including
<br />replacements and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it
<br />being agreed that all of the foregoing shall be hereinafter referred to as the "Property."
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br />$1,700,000.00, together with interest at the rate or rates provided therein, and any and all renewals,
<br />modifications and extensions of such note, both principal and interest on the note being payable in accordance
<br />with the terms set forth therein, which by this reference is hereby made a part hereof; and any and all future
<br />advances and readvances to Trustors hereunder pursuant to one ore more promissory notes or credit agreements
<br />(herein called "Note");
<br />b. the payment of other sums advanced by Beneficiary to protect the security of the Note;
<br />c. the performance of all covenants and agreements of Trustor set forth herein; and
<br />d. all present and future indebtedness and obligations of Trustors to Beneficiary whether direct, indirect,
<br />absolute or contingent and whether arising by note, guaranty, overdraft or otherwise;
<br />
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTORS HEREBY COVENANT AND AGREE:
<br />
<br />1. To pay when due, the principal of, and the interest on, the indebtedness evidenced by the note, charges, fees and all other sums
<br />as provided in the loan instruments.
<br />2. Trustors are the owners of the property and have the right and authority to execute this Deed of Trust in respect to the property.
<br />3. To pay, when due, all taxes, special assessments and all other charges against the property, before the same become delinquent.
<br />Trustors shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the
<br />debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or any part thereof upon the
<br />Beneficiary.
<br />4. To keep the improvements now or hereafter located on the property insured against damage by fire and such other hazards as
<br />the Beneficiary may require, in amounts and companies acceptable to the Beneficiary, Such insurance policy shall contain a standard
<br />mortgage clause in favor of Beneficiary. Trustor shall promptly repair, maintain and replace the property or any part thereof, so that,
<br />except for ordinary wear and tear, the property shall not deteriorate.
<br />5. In the event the property, or any part thereof, shall be taken by eminent domain, the Beneficiary is entitled to collect and receive
<br />all compensation which may be paid for any property taken or for damages to property not taken, and the Beneficiary shall apply such
<br />compensation, at its option, either to a reduction of the indebtedness secured hereby, or to repair and restore the property so taken.
<br />6. The Beneficiary may, but shall have no obligation to, do any act which Trustors have agreed but failed to do, and the
<br />Beneficiary may also do any act it deems necessary to protect the lien hereof. Trustors agree to repay, upon demand, any sums so
<br />expended by the Beneficiary for the above purposes, and any sum so expended shall be added to the indebtedness secured hereby and
<br />become secured by the lien hereof. The Beneficiary shall no incur any liability because of anything it may do or omit to do hereunder.
<br />7. The Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents, issues
<br />and profIts of the property and of any personal property located thereon with or without taking possession of the property affected
<br />
|