|
200905122
<br />COMMERCLAL REAL ESTATE DEEll OF TRUST
<br />This COMMERCIAL REAL ESTATE DEED OF TRUST ("Security Instrument") is made on June 22, 2009 by
<br />the grantor(s) Leonard J Rainforth, Husband, whose address is 7387 W Rosedale Rd, Doniphan, Nebraska
<br />68832 ;and Diana L Rainforth, Wife, whose address is 73$7 W Rosedale Rd, Doniphan, Nebraska 6$$32
<br />("Grantor"). The trustee is TierOne Bank whose address is 1235 'N' St / P.O. Box 83009, Lincoln, Nebraska
<br />68501 ("Trustee"). The beneficiary is TierOne Bank whose address is PO Bax 5018 / 700 N Webb RD, Crand
<br />Island, Nebraska 68802-501$ ("Lender"), which is organized and existing under the laws of United States of
<br />America. Grantor in consideration of loans extended by Lender up to a maximum principal amount of Two
<br />Hundred Thirty-nine Thousand Seven Hundred Ninety-two and OU/100 Dollars ($239,792.00) ("Maximum
<br />Principal Indebtedness"), and for other valuable consideration, the receipt of which is acknowledged, irrevocably
<br />grants, conveys and assigns to Trustee, in trust, with power of sale, the following described property located in the
<br />County of Hall, State of Nebraska:
<br />Legal Description: South Half of the Southwest Quarter (51/2 SW1/4) of Section Thirty (30), Township
<br />Nine (9) North, Range Ten (10), West of the 6th P.M., Hall County, Nebraska, excepting a certain tract
<br />more particularly described in Quit Claim Deed recowded in Book 138, Page 331.
<br />Together with all easements, appurtenances abutting streets and alleys, improvements, buildings, fixtures,
<br />tenements, hereditaments, equipment, rents, income, profits and royalties, personal goods of whatever description
<br />and all other rights and privileges including all minerals, oil, gas, water (whether groundwater, subterranean or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above-
<br />describcd real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites,
<br />storage rights, dams and water stack that may now, or at any time in the future, be located on and/or used in
<br />connection with the above-described real property, payment awards, amounts received from eminent domain,
<br />amounts received from any and all insurance payments, and timber which may now or later be located, situated, or
<br />affixed on and used in connection therewith (hereinafter called the "Property").
<br />RELATED DOCUMENT'S. The words "Related Documents" mean all promissory notes, security agreements,
<br />prior mortgages, prior deeds of trust, business loan agreements, construction loan agreements, resolutions,
<br />guaranties, environmental agreements, subordination agreements, assignments of leases and rents and any other
<br />documents or agreements executed in connection with this Security Instrument whether now or hereafter existing.
<br />The Related Documents arc hereby made a part of this Security Instrument by reference thereto, with the same
<br />force and effect as if fully set forth herein.
<br />INDEBTEDNESS. This Security Instrument secures the principal amount shown above as may be evidenced by a
<br />promissory note or notes of even, prior or subsequent date hereto, including future advances and every other
<br />indebtedness of any and every kind now or hereafer owing from Grantor to Lcndcr, howsoever created or arising,
<br />whether primary, secondary or contingent, together with any interest or charges provided in or arising out of such
<br />indebtedness, as well as the agreements and covenants of this 5ccurity Instrument and all Related Documents
<br />(hereinafter all referred to as the "Indebtedness").
<br />FUTURE ADVANCES. To the extent permitted bylaw, this Security Instrument will secure future advances as if
<br />such advances were made on the date of this Security Instrument regardless of the fact that from time to time there
<br />may be no balance due under the note and regardless of whether Lender is obligated to make such future advances.
<br />CROSS COLLATEI2ALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurred.
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and agrees with Lcndcr, its successors and assigns, as follows:
<br />Performance of Obligakions. Grantor promises to perform all terms, conditions, and covenants of this
<br />Security Instrument and Related Documents in accordance with the terms contained therein.
<br />Defense and Title to Property. At the time of execution and delivery of this instrument, Grantor is lawfully
<br />seised of the estate hereby conveyed and has the exclusive right to mortgage, grant, convey and assign the
<br />Property. Grantor covenants that the Property is unencumbered and free of all liens, except for encumbrances
<br />of record acceptable to Fender, Further, Grantor covenants that Grantor will warrant and defend generally
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easements,
<br />restrictions, or other encumbrances of record acceptable to Lender, as may be listed in the schedule of
<br />exceptions to coverage in any abstract of title or title insurance policy insuring Lender's interest in the
<br />Property.
<br />Condition of Property. Grantor promises at all times to preserve and to maintain the Property and every
<br />part thereof in good repair, working order, and condition and will from time to time, make all needful and
<br />proper repairs so that the value of the Property shall not in any way be impaired.
<br />Removal of any Pawt of the Property. Grantor promises not to remove any part of the Property from its
<br />present location, except for replacement, maintenance and relocation in the ordinary course of business.
<br />Alterations to the Property. Grantor promises to abstain from the commission of any waste on the
<br />Property. Further, Grantor shall make no material alterations, additions or improvements of any type
<br />whatever to the Property, regardless of whether such alterations, additions or improvements would increase
<br />the value of the Property, nor permit anyone to do so except for tenant improvements and completion of
<br />4~ 2004-2008 Copyright Compliumce Systems, Inc, 6107-0147 - 2008.12282 www.cvmpliumuesysiems.a~m
<br />Cmm~xrciul Reul Csmte Security Instrument - 1)1.4007 Yngc 2 oT6 800-968-8522 -pox 61(.956-18(8
<br />~~
<br />
|