87101795 - Laserfiche WebLink

Browse

MW $7-- 101 795 Deed of Trust rTHIS DEED OF TRUST is made this 30 _ day of Marr-h 19 BZ , by and between Heartland Agri SSlpply, InC. whether one or more, (hereinafter called the "Trustor"), whose mailing address is Q_ Box i3b5. (ilaIYl lsianta. !HE NORWEST BANK jaska . National Association p_n_ Hnx 17jig, C:rand Island' NE , and NORWEST BANK called the "Beneficiary"), whose mailing address is p_O_ Box 1768,. whose mailing address is an , (hereinafter WITNESSETH. IF THIS BOX IS CHECKED j J THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES, GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY DESCRIBED HEREINBELOW. WHEREAS, Trustor is indebted to Beneficiary in the principal sum of TWQ HLIVI ID Tfl= THOUSAND AND NQ1200 -- DoI(ars (s 230.000. 00), which indebtedness is evidenced by Trustor's promissory note dated , 19_ . (hereinafter called the "Note"). payable to the order of Beneficiary and having a maturity of NOW THEREFORE, for the purpose of securing: (a) payment of the Note, together with interest thereon, late charges, prepayment penalties, any future advances. and all extensions, modifications. substitutions and renewals thereof. (b) payment of all other sums, fees or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and the performance of the covenants and agreements of Trustor, whether or not set forth herein. (c) performance, discharge of and compliance with every term. covenant, obligation and agreement of Trustor contained herein or incorporated by reference or any other security instrument at anytime given to secure the Note, and (d) the repayment of all other sums or future advances, with interest thereon, which may heretofore have been or hereafter be advanced by Beneficiary to Trustor or Trustor s successor in interest or titre, all of which is hereinafter collectively called the "Indebtedness Trustor irrevocably grants and transfers to Trustee. in trust, WITH POWER OF SALE, the following described property: 9* v` U t"Ps-0 1.2 together with (i) all buildings, structures, additions, enlargements, modifications, repairs. replacements, and improvements now or hereafter located thereon, (i)) all equipment, machinery and fixtures (including, wrdotut ftmitatian. atf fighting, heating. ventilating. coosrsl, air conabDning. sprinkling and plumbing fixtures, water and power systems. engines. balers. ranges. ovens. dishwashers. a rrrors and new& carpeting, furnaces. oil burners, elevators and motors. refrigeration plants or units, communication systems, dynamos. transformers, eft equipment storm and screen windows, doors, awnings and shades) now or hereafter attached to, or buift in. any building or irn;lravernenf now or hereafter located thereon, (III) at/ easements and rights of way appurtenant thereto. tiv). all leasehold estate. right. We and mfer+estot Trstor in and to all leases, whether now or hereafter existing or entered into (including, without limitation. all cash and security dui advance rentals and deposits or payments of a similar nature). pertaining thereto. (v) all rents. issues, profits and income dwefr m isugect to the right of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so iong as no event of detatdt exists hereunder!. (v;) all royalties, mineral. oil and gas rights and profits, water. water nglits. and water stock. f vk) afi tenernes. hemditaments. privileges and appurtenances belonging, used or erloyef in connection therewith, and (viii) all proceeds of conversion, vokbr ary or involuntary. of any of the foregoing into cash or liquidated Clwrns (including. w tr?cut iimrlatron. proceeds of trs.nance, and condemnation awards), all of which is hereinafter collectively called the 'Trust Property- TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. Title, Trustor covenants, warrants and agrees with Beneficiary. its successors and assigns, that Trustor owns the Trust Properly free from any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property. that Trustor. at its expense, will preserve such title and w:r't maintain this Deed of Trust as a first and pa-amount lien upon the Trust Property and will to, ever warrant and defend tine validity and pno.. Ry of the lien hereof against the claims of aft perms and parbes whomsoever. Trustor. at its expense. will cause this Deed of Trust, and each amendment or supplement hereto. to be Sed and recorded as a mortgage of the Trust Property in such manner and rn such place and wilt take such action as in the opiraorn of Trustee may be required by any present or future taw in crde -- to perfect. maintain at-- prc.act the ben of dais Deed of Trust as the same nisi be arnenued OF supplemented from rYre to ,hire. Trustor wit ,:take suc r, t-urthier aasui a_rt ;e our asSuTances to pe,-fect its titre to -the 'Trust Property as may be required by Beneficiary. Trustor hereby relinquishes alt right of dower and homestead in and to the Trust Prapertyy_ 2_ Payment of Indebtedness. Trustor shalt punctually pay the principal of and interest on rive Indebtedness secured hereby. 3. Construction of improvements. Trustor shaft complete in good and workmarmke manner any boil rigs, improvements or repairs r thereto which may be begun on the Trust Property or contemplated by the loan evidenced by the Note secured hereby, to pay when due all costs and liabilities incurred therefore. and not to permit any construction, lien against such Trust Property. in the event construction of buildings, improvements or repairs are contemplated, Trustor also agrees, anything in this Deed of Trust to the calvary notwithstanding: ; a) to promptly commence any such ti on, and to complete the proposed improvements promptly, tb) to complete tree same in accordance with me plans anc specfficaaons as approved by Beneficiary, Ic) to comply with all the terns of a building kraxt agreement, if any, between Trustor and Beneficiary. the terms of which are incorporated herein by reference and made a part hereof_ (d) to allow Beneficiary to inspect the Trust Property at all times during contt, Jction. and (e) to replace any work or matenais unsatisfactory to Beneficiary within fifteen (15) days after written notice from Beneficiary of such fact 4 Funds Tor Payment of Charges. Sublecr tc applicable law or to a written waiver by Beneficiary, Trustor shaft pay to Benefirra?s on ale first day of each month, or such other date each month as may be specified by Beneficiary. until the indebtedness is paid in ice. a suer: (hereinafter called the "Funds ") equal to 1 12th of the yearly taxes and assessments which may attain priority over this Deed of Tamt and ground rents on the Trust Property, if any. plus 1 12th of the yeady premium installments for hazard insurance. plus 1 12th drone yearly premium installments for mortgage insurance, it any, all as reasonably estimated initially and from lime to time by Ber elrerary on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution, the deposits or accounts of which are insured or guaranteed by a federal or state agency including Beneficiary. Beneficiary shall apply the Funds #r pay said taxes, assessments, insurance premiums and ground rents. Beneficiary shall not be required to pay Trustor any interest or earnings on the Funds. Beneficiary shalt give to Trustor, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the indebtedness secured by this Deed of Trust If the amount of the Funds held by Beneficiary. together with ttne future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents. shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fail due. such excess shall be. at Trustor s option, either promptly repaid to Trustor or credited to Trustor against future monthly installments of Funds. If Flee a.-rt"p, of the Funds held by Beneficiary shall not be sufficient ro pay taxes. assessments. insurance premiums and ground rents as thev fail due. Truslor shall pay to Beneficiary any amount necessary to make up the deficiency within thirty days front the date notice =s marled by Beneficiary to Truslor requesting payment thereof Upon payment in full of all lndebredness. Benehcrary shall promptly refund to Trustor any rands held by Beneficiary If the Trust Property is sold under the r)r,wer gale er the 'rust r'ropertl s Otherwise acquired by lfenefioary. Berte(ic,ary snail apply, immediately prior to the safe of the Tnivl Property- n, .rs anj7 ,Srt,on try Benebo,a p, - 9n6 Funds held by k3ctnetrr_rary at the lime Of applrca�agn as a credit agarn9x trio lhdet=lpunPSa -r B =notice -} .srr:�Ur< =,- a w �7±r�; to .er "o-0 c+r c -,irOq Ht +Cur, ill,dgr fh, , pa,iig, aph 4 Trstor [7hVenanr5 and agrees to pay before rho Same he _iPI +H tie? nij.,r . 44 la -w, :3S r 9 ent9