86107171 - Laserfiche WebLink

Browse

1 DEED OF TRUST 86- 107171 - - - h _$rte_ John H Olson and Debra K. D :ED OF TRUST, made this Aru. dayof Pepin Pr .,19 by and among Husband and Wife, whose mailing address Is (Street) 201 E. Pine (City) Doniphan I tip) 'NE 68632 (herein "Trustor"; and Bank of Doniphan whose Idressis(Streeq 118 -120 Plum St. (city) Doniphan - _.__(StateandZlp) NE 68832 rustee'q; and Bank of Doniphan .,whose mailing address 13(streel)118 -120 Plum St. tctty) Doniphan (State and Zip) NE 68832 (herein"Soneficiary ") FOR VALUABLE CONSIDERATION, including the indebtedness identified herein and the trust herein created, the receipt of which is hereby aClurowledged Trustor Irrevocably grants, transfers, conveys, and ass'gns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and secur- ity of aeMiiclofy, under and subject to the terms and conditions of this Deed of Trust, the real property described as follows: (See legal attached) �- TOGETHER WITH, all rents, profits, royalties, income and other benefits derived from the real property; all leases or subleases covering the real property or arty portion thereof, now or hereafter existing or entered into, and alt right, title and interest of Trustor thereunder; all interests, estate or other clairrm both to law and in equity, which Trustor now has or may nereafter acquire in the real property; all easements, rights -of -way, tene- ments, hereditaments and appurtenances thereof and thereto; all oil and gas rights and profits, water rights and water stock; all right, title and Interest of Trustor, now Owned or hereafter acquired, in and to any land lying within the right -of -way of any sweet or highway adjoining the real property, any and all buildings, fixtures, improvements, and appurtenances now or hereafter erected thereow or belonging thereto, (herein referred to as "Improvement- or Improvements "); and any and all awards made for the taking by eminent domain, or by any proceeding or pur- chase in lieu thereof, of the whole or any part of the real property. All of the foregoing estate, property and interest hereby conveyed to Trustee herein collectively referred to as the "Property ". THIS DEED OF TRUST SHALL SECURE: (a) The payment of Indebtedness evidenced by Trustor's note of even date herewith in the principle sum of Forty Thougand and NO/ 100 Dollars (>f non- nn ), together with interest at the rate or rates provided therein, (herein, together with any and all renewafs, m i ications, and extensions thereof, referred to as the "Note ") both principal and interest on the Note being payable in accordance with the terms: forth therein, reference to which is hereby made, the final Gayme t of l Wt gipsl and interest, if not sooner paid and if no nwAwais, modificationsor extensions are made, due and payable on December , ,9b (b) The performance of each agreement and covenant of Trustor herein contained; and (c) The payment of any sum or sums of money with Interest thereon which may be hereafter paid or advanced under the terms of this Deed of Trust. (d) The payment of any future advances necessary to protect the security or any future advance made at the option of the parties; and (*I The performance of an obligation of any other person named in this Trust Deed to a beneficiary. TO PROTECTTHE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS: t. faysin of Pfkm M and IntoreaL Trustor shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Nola, and all other t�wpsaand fees as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed of Trust 2.1111farrarrtef TIIIe.Trustor is lawfully seized and possessed of good and indefeasible title and estate to the Property hereby conveyed and has the right to grant and convey the Property; the Property is free and clear of all liens and encumbrances except liens now of record; and Trustor will warrant wW defend the title to the Property against all claims and demands. 3. Makdove tes and CoetpNance with Laws. Trustor shall keep the Property In good condition and repair and shall not commit waste or permit ImpalrmeM or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. No improve• meM, note or hereafter erected upon the Property shall be altered, removed or demolished without the prior written consent of Beneficiary. Trustor shall ooMt* with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property and not commit, suffer, or per- mit any act to be done in or upon the Property in violation of any law, ordinance, regulation, covenant, condition or restriction. Trustor shall com- plete or restore promptly and in good workmanlike manner any improvement on the Property which may be damaged or destroyed and pay, when due, all claims for labor performed and materials furnished therefore and for any alterations thereof. 4. NOWNlee. Trustor, at its expense, will maintain with insurors approved by Beneficiary, insurance with respect to the Improvements and per- sonal property, constituting the Property, against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended coverage endorsement. In an amount equal to at least one hundred percent of the full replacement value thereof and insurance against such other hazards and in such amounts as Is customarily carried by owners and operators of similar properties or as Beneficiary may require for its protection. Trustor will comply with such other requirements as Beneficiary may from time to time request for the protection by insurance of the lnte►eata of'tM nspectiw parlfes. All insurance pogcles maintained pursuant to this Deed of Trust shall name Trustor and Beneficiary as In- sureds as,tMir respective intxests may p a and provide that thereshail be no cancellation or modification without any less than 15 days prior written notcation to Truefes and Beneficiary. In the event any policy hereunder is not renewed on or before t5 dsys prior to its expirelion dote, True!« orl3eneficiary may procure such Insurance In accordance with the provisions of paragraph 7 hereof. Trustor shall deliver to BeneNeiary the original policies ol, insurance and renewals thereof or memo copies of such policies and renewals thereof. Failure to furnish iYGh iMUrarIG by Trustor, or rer»wels as required hereunder shall, at the option of Beneficiary, constitutes default. i Taase, Assessments, and Charges. Trustor shall pay all taxes, assessments and other charges, including, without limitation, fines and im- positions attributable to the Property, and leasehold payments or ground rents, if any, before the some become deliquent. Trustor shall promptly r" furnM to aonaticivy all notices of amounts due under this paragraph, and in the event Trustor shall make payment directly, Trustor shall prompt - ly furnish to Beneficiary receipts evidencing such payments. Trustor snail pay all taxes and assessments which may be levied upon Bonsfkclary's Interest herein or upon this Deed of Trust without regard to any law that may be enacted imposing payment of the whole or any part thereof upon The Beneficiary. I } L� a