|
<br />I\.)
<br />e
<br />e
<br />-..J
<br />e
<br />co
<br />-..J
<br />-->.
<br />W
<br />
<br />~t;~
<br />!. ~ .'\'\
<br />, J<'
<br />~~
<br />.\ 1: r"..
<br />\ ~,
<br />...........~. ~
<br />~~~
<br />(() ~M,
<br />~, ~,
<br />~ ~
<br />~. ~\
<br />
<br />Q~
<br />~:I:
<br />~~ \
<br />
<br />m
<br />c::.
<br />III~?,
<br />n .......
<br />:I: n e'
<br />m )> !.~
<br />OW
<br />~:.c
<br />
<br /> i'....;Jt ~
<br /> (.~ C"> (f) cfI';
<br /> <::;=> 0 -l
<br /> -.JI
<br /> '-''''''{ c: J:> '""
<br /> _",,...Jo.",... = Z -i a
<br />:::0 '1'>.'< = -i m 0
<br />---l
<br />rTl S;t. -< ,:J
<br />~') c:::> ~
<br /> (,~~,,~ ....... 0 .."
<br />o '\~ ~ ....., Z -.3.
<br />-, -
<br /> r x rTl I
<br />Cl J> ~:J:l c:::>
<br />JTI ::D I ;:0
<br />1'1 :3 I :r..". CD
<br />0
<br />(fl if) -::--l
<br /> CD ::x
<br /> 0 J> ~
<br /> N --- '-'
<br /> w if) w
<br /> if) Z
<br /> ....,
<br />200708713
<br />
<br />
<br />DEED OF TRUST
<br />
<br />This Deed of Trust, hereinafter referred to as Security Instrument, is made on this 25th day of September, 2007.~
<br />The Trustor, hereinafter referred to as Borrower, is John P. Webb & Lisa L. Webb, Husband and Wife, whose address ~
<br />is 204 S Claude Rd, Gran_d Island, Nebraska 68803. .
<br />The Trustee, hereinafter referred to as Trustee is Adams County Bank. The Beneficiary, hereinafter referred to as
<br />Lender, is Adams County Bank, which is organized and existing under the laws of the State of Nebraska, and whose
<br />address is Kenesaw, County of Adams, State of Nebraska. Borrower owes Lender the principal sum of One Hundred
<br />Fifty Thousand Dollars and NoIlOO---------------------Dollars ($150,000.00). This debt is evidenced by Borrower's note
<br />dated the same date as this Security Instrument, hereinafter referred to as Note, with the full debt, if not paid earlier, duc
<br />and payable on December 27, 2007. This Security Instrument secures to Lender: (a) the repayment of the debt
<br />evidenced by Note(s), together with interest thereon, any further advances, and all extensions, modification, substitutions,
<br />and renewals thereot; (b) the payment of all other sums, with interest, advanced under Section Nine hereof to protect the
<br />security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security
<br />Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with Power of
<br />Sale, the following described real estate:
<br />Lot Twenty-Two (22), Indianhead 7th Subdivision, City of Grand Island, Hall County, Nebraska, which is located in
<br />Hall County, Nebraska, having the address of Grand Island, Nebraska, and is hereinafter referred to as "Property
<br />Address."
<br />Together with all the improvements now or hereafter erected on the property and all easements, rights,
<br />appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or
<br />hereafter a part ofthe said property. All replacements and additions shall also be covered by this Security Instrument. All
<br />of the foregoing is referred to in this Security Instrument as the "Property".
<br />Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and
<br />convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and
<br />will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />Borrower and Lender covenant and agree as follows:
<br />1. TRUST DEEDS ACT. That this Trust Deed shall be governed by the terms of Section 76-100 I, and
<br />following, ofthe Revised Statutes of the State of Nebraska, also known as the Nebraska Trust Deeds Act.
<br />2. PAYMENT. That the Borrower shall pay to the Beneficiary the principal and interest under the terms of the
<br />Promissory Note(s).
<br />3. TAXES. That the Borrower shall pay all general real estate taxes and special assessments levied hereinafter
<br />against the property when the same become due and before the same become delinquent.
<br />4. INSURANCE. That the Borrower shall insure the property against loss by fire, hazards, included within the
<br />term "Extended Coverage" and any other hazards for which the Lender requires insurance in an amount not less than
<br />Two Hundred Thousand Dollars and no/l00--------------Dollars ($200,000.00) with a company qualified in the State
<br />of Nebraska by a policy containing a clause for loss payable to the Beneficiary and the Borrower as their respective
<br />interests exist at the time of thc loss and to provide evidence of payment of the premium of said policy upon reasonable
<br />demand by the beneficiary.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened,
<br />or the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />any excess paid to Borrower.
<br />If Borrower abandons the Property, or does not answer within thirty (30) days a notice from Lender that the
<br />insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the
<br />proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due.
<br />The thirty (30) day period will begin when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpone the due date of the payments referred to in Section 2 hereof, or change the amount of the payments. If the
<br />property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the
<br />Property prior to the acquisition shall pass to Lcnder to the extent of the sums secured by this Security Instrument
<br />immediately prior to the acquisition.
<br />5, WASTE. That the Borrower shall not commit or suffer any waste of the property.
<br />Removal of Improvements. Borrower shall not demolish or remove any improvements from the real property
<br />without Lendr's prior written consent. As a condition to the removal of any improvements, Lender may require Borrower
<br />to make arrangements satisfactory to Lender to replace such improvements with improvements of at least equal value.
<br />Borrower will maintain the farm during the time this Deed of Trust remains in effect, in as good as condition and
<br />repair as was when this instrument was executed, or is later improved. Additionally, Borrower shall operate and maintain
<br />the farm real estate in an efficient and husband-like manner, and will do tillage, seeding, cultivating, and harvest at the
<br />
|