200900809 - Laserfiche WebLink

Browse

. 200900809 16. Personal Property: This Deed of Trust is also intended to encumber and create, and Trustor does hereby grant to Beneficiary, a security interest in any and all of such property which is personal property owned by Trustor and now or hereafter located on or used in connection with sneh property including, but not limited to, all fixtures, owned by Trustor and now or hereafter located on, attached to or used in and about the Improvements which are necessary to the complete and comfortable use and occupancy of the hnprovemenL< for all purposes for which they are intended and such other goods and chattels and personal property owned by Trustor as are ever to be used or funlished in operating the Improvements, or the activities conducted therein, and all renewals or replacements thereof or substitutions therefore, conducted therein, and all renewals or replacements thereof or substitutions therefore, whcther Or not the Same shall be attached to the Improvements in any manncr, and all building materials and equipment hereafter situate on or about the Real Estate or th.e Improvements. The foregoing items which are leased by Trustor, Trustor shall, fornl time to time, upon request of Beneficiary, provide Beneficiary with a current inventory of all of the personal property in which the Beneficiary is granted a security interest hereunder, in such detail as Beneficiary may require. Any lien created against personal property will be in compliance with Regulation AA. I.:' 17. Security Agreement: This Dccd of Trust constitutes a security agreement between Trustor and Beneficiary with respect to all respect to all personal property in which Beneficiary is granted a security interest hereunder, and, cumulative of all other rights and remedies of Beneficiary hereunder, Beneficiary shall have all of the rights and remedies of a secured party under the Nebraska Unifonn Commercial Code. Trustor hereby agrees to execute and deliver on demand and hereby irrevocably constitutes and appoints Beneficiary the attorney-in-fact of Trustor to execute and deliver and, if appropriate, to file with the appropriate filing officer or onicers such security al,'Teements, financing statements, continuation statements or other instruments as Beneficiary may request or require in order to impose, perfect or continue the perfection of the lien or security interest created hereby. Upon the occurrence of any default hereunder not cured within any applicable grace period, Beneficiary shall have the right to cause any uf such property which is personal property and subject to security interest of Beneficiary hereundeno be sold in one of public or private sales as pernlitted by applicable law, including at a sale held in conjunction with the sale of such property by Trustee, as provided for in this Deed of Trust, and Beneficiary shall further have all rights and remedies, whether at law in eqnity or by statute, as are available to secured creditors under applicable law. Any such disposition may be cunducted by an empluyee ur agent uf Beneficiary or Trustee. Expenses of retaking, holding, preparing fur sale, selling Or the like shall be borne by Trustor and shall include Beneficiary's and Trustee's fees and legal expenses. Beneficiary shall have the right to enter upon the Real Estate and the Improvements ur any uther real property or any personal property which is the subject of the security interest granted herein as located to take possession of, assemble and collect such personal property or to render it unusable, ur Trustor, upun demand of Beneficiary, shall assemble such personal property and make it available to beneficiary at a place deemed reasonably convenient to Beneficiary. If notice is required by law, Beneficiary shall give Trustor at least five (5) days' prior written notice ufthe time and place of any public sale or uther intended disposition is to be made, and, if such nutice is sent to Trustor, as the same is provided for the mailing of notices herein, it is hereby deemed that such notice shall be and is reasonable notice to Trustor. Any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a reasonably commercial manner if held contemporaneously with the sale under the power of sale granted in this Deed of Trust npon giving the same notice with respect to the sale of the personal property hereunder as is required with respect to the sale under the power of sale given the Trustee under this Deed of Trust. 18. Fixture Financing Statement: This Deed of Trust is intended to be a financing statement within the purview of the Nebraska Uniform Conilllercial Code with respect to those items of such property as constitute fixtures un the Real Estate. The address of Trustor (Debtor) and Beneficiary (Secured Party) are set forth on the first page of this Dccd of Trust. This Deed of Trust is tu be filed for record with the Register of Deeds uf the County where the real estate is located. Trustor is the record owner of the real estate. 19. Substitution of Trustee: That Beneficiary may, from time to time, by instrument in writing, substitme a successor or successors to any Trustee named herein or acting hereunder, which instrument, executed and acknowledged by Beneficiary and recorded in the office of the register of deeds of the county or counties where such property is situated, shall be conclusive proof of property substitution of such Trustee or Trustees, who shall, without conveyance from the Trustee predecessor, succeed to all its title, estate, rights, power and duties. 20. NoW aiver by Beneficiary: No waiver by Beneficiary of any right nnder this Deed of Trust shall be effective unless in writing. Waiver by Beneficiary of any right granted to Beneficiary under this Deed of Trust or occurrences shall not be deemed a waiver as tu any Future transactions or occurrences. By accepting payment of any sum secured hereby after its dne date, or by making any payment or perfornling any act on behalf of Trustor that Trustor was obligaled hereunder, but failed to make Or perforn" ur by adding any payment so made by Beneficiary to the indebtedness secured hereby, Beneficiary does not waive its right to require prompt payment when due of all other sums so secured or to require prompt perfornlanee of all other acts required hereunder, or to declare a default fur failure so to pay. 21. Waiver of Statute of Limitation: Time is of the essence in all Trustor's obligations hereunder; and to the extent pennitted by law, Trustor waives all present or future statutes uf limitations with respect to any debt, demand or obligations secured hereby in any action or proceeding for the purpose of enforcing tllis Trust or any right or remedies hereunder. 22. Inspection and Business records: Beneficiary at any time during the continuation of this Trust may enter and inspect such property at any reasonable time. Trustor agrees that in the event such property is now or hereafter used for connnercial or residential income purposes, when requested by Beneficiary, Trustor will promptly deliver to Beneficiary such certified financial statements and profit and loss statements of such types and at such inlervals as may be required by Beneficiary, which will be in furm and cuntent prepared according to the usual and acceptable accounting principals and practices, which statements shall cover the financial operations relating to such property. Trustor furthcr agrees when reqnested by Beneficiary to promptly deliver in writing such further additional infonnation as required by Beneficiary relating to any such financial statements. 23. Acceleration Clause: Shuuld Trustor be in default undertllis Deed of Trust, or should Trustor, or any successor in interest of Trustor, voluntarily or involuntarily sell, exchange, convey, transfer, contrael to sell, lease with option to purchase, sublease, change the character or use of, or further encumber such property, or any part thereof, or any interest therein; or if any of said parties shall be divested of title to such property, or any part thereof, or any interest therein, either vuluntarily Or if title tu such property be subjected to any lien or charge, voluntarily or involuntarily, contractual or statutory, without tile written consent of Beneficiary bcing firsl had and oblained, the Henefieiary shall have the right, at its uptiun, to declare all SUIllS secured hereby fortllwith due and payable; and this same right of acceleration shall be available to Beneficiary if the undersigned is a partnership and any interest of a general partner tenninates is a corporation and any of the corporate stock is transferred, sold ur assigned; Or if the undersigned is a trustee of a trust and there is a change or any of the beneficial interest of the trust. 24. Remedies: No remedy herein provided shall be exclusive of any other remedy herein or now or hereafter existing by law, but shall be cumulative. Every power or remedy hereby given tu Trustee or Beneficiary, or to which either oftllem may be otherwise entitled, may be exercised from time to time and as often as may be deemed expedient by them, and either of them may pursue inconsistent remedies. If Beneficiary holds any additional security for any obligation secured hereby, it may enforce the sale thereof at its option, either before, contemporaneously with, or after the sale is made hereunder, and on any default of Trustor, Bcneficiary may, at it.< option, offset against any indcbtcdness sceurcd hereby, and the Beneficiary is hereby authorized and empuwered at its uption, without any obligation so to do, and without affecting the obligations hereof, to apply toward the payment of any indebtedness of the Trustor to tlle Beneficiary any and all sums of money of Trustor which Beneficiary may have in its pussessiun ur under its cuntrol, including without limiting the generality of the foregoing, any savings account, deposit, investment certificate, escrow or trust ftUlds. 25. Acknowledgment: Trustor agrees and acknowledgcs that prior to the execution of this Deed of Trust, Trustor did acknowledge in writing and hereby confinns again that (a) this Deed of Trust is not a murtgage, but a Deed of Trust, (b) that tlle power of sale provided for herein provides substantially different rights and obligations for trustor than a mortgage in the event of a default or breach uf any obligation hereunder, and (c) tile aforementioned written acknowledgement was executed prior to the execution of this Deed of Trust. 26. Law Applicable: That this Deed ofTrust shall be construed according to tlle laws or tile State of Nebraska. 27. Illegality: In tl,e event that any provision or clause of this Deed of Trust conflicts with applicable law, such conflict shall not affect other provisions of tllis Deed of Trust which can be given effect without the conflicting provision and to this end the provisions of this Deed of Trust are declared to be severable. 28. General Provisions: (a) This Dced of Trust applies to, inures to the benefit of, and binds all parties hereto, their heirs, legatees, devisees, administrators, e,eeutors, successors and assigns. (b) The tenn "Beneficiary" shall mean the owner and holder (including a pledgee) of any note secured hereby, whether or not named as Beneficiary herein. (c) Wherever the context so requires, the masculine gender includes tile feminine and neuter, the singular number includes the plural, and vice versa. (d) Captions and paragraph headings used herein are for convenience only, are not a part of this al,'Teement, and shall not be used in constming it. If more than one person is named herein as Trustor, each obligation of Trustor shall be the joint and several obligation of each such person. The rights or remcdies granted hereunder, or by law, shall not be exclusive, but shall be concurrent and cumulative. 29. TRUSTEE ACCEPTS this Trust when this Deed of Trust, duly executed and acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or any action or proceeding in which Trustor, Beneficiary or Trustee shall be a party, unless brought by Trustee. 30. Address for Mailing Notices: Trustor hereby requests tlJat a copy of any notice of default and a copy of any notice of sale hcrcundcr shall bc mailed to each person itemized below at the address indicated: 507 S Vine St Grand Island. NE 68801 31. Trustors acknowledge that tlley have executed the Preface to Deed of Trust prior to the execution of this Deed of Trust and have made the applicable election, disclaimer or waiver of homestead. Trustors further waive any additional or further homestead rights, exemptions, or elections other than tllOse reserved in tlle Preface to Deed of Trust, whether existing by common law, or any other law now existing, or enacted in tile future. 8I23.CY (4103) 18011 Page 4 of5 it GOTO(00068clO)