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....r- _. ~...r`r- _..... ..___.~ ~...___.~..__..~ --- _ .....~_~_.,..-_. . ~ _ ___. _.._~_..._..~.~_._.~ . ^t~~r 5 ~~~ a ~ cn N ~ ~ ~ DEED 4F T ......, ..........-.__r~ .,.~ W~.._.~ ... ~ ~ ~ ~ ~ RUST r~ ~ __. ~ ... ~ ~~~~ ~ ~ m ~ ~- ~ "~~ ~ ~ ~ ~ !My!{ y ~ ~ ~ ~ ~ '~ 7~c' _ , '~ a P`~7 it 1 ~ 11 ~.S DEED OF TRUST, is made as of 29th day of April ,~ 2010 , by I l atxd txntong oho & Dianne L. Schulte Husband and Wife ("Tt•ustor"), whose m:ri ling address is hurt L.,_ Ratliff,_ a single person W& im__~.,__Plat~ a single_ rand ("~r~~¢ ' ' ~~~ is N~ ia o . mailin address is: 400 Secon~e., Sauth_-,_ Minnea_ polisz Minnesota - 5540I-2499 and__ P ate E-.n~erpris~ ••. ~ __ •- _ ("Beneficiary") whgse mailing address is 2209. East,,,~~gllev _Far}~$t,2,,~, Grand lsland.. _NE._ 8801 FOIL VALUABLE CONSII]I:RATION, 'Trustor irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SAL E, for the benefit and security of 3eneficiary under and subject to the terms and conditions of this Deed of Trust, the real property located in the City of Gran Island ,County of ' Hall ,State of Nebraska, and legally described as follows (the "Property"): The West Half of the West Half (W~W~) of Block Sixteen 16 of Windol h's ( )~ p Addition to the City of Grand Island, Hall County, Nebraska TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets and alleys, improvements and buildings of any kind situated thereon and all personal property that tray be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all water rights. The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust Estate". FOR THE PURPOSE OF SECURING; a. Payment of indebeness in the total principal amnunl of $ 260 s 000.00 with interest thereon, as evidenced by that ' certain promissory note of even date (the"Note") with a maturity date of ~,pril ~,?g , 204.0 _, -.__-. _, "s. j executed by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby made a part hereof, and any and all modifications, extensions and renewals thereof, and b. Payment of all sums advanced by Beneficiary to protect 'the Trust Estate, with interest thereon at the rate of i percent (_ _5„~%a) per annum, and ~ 1 c. The performance of Trustor's covenants and agreements. j This Deed of Trust, the Nate, and any other instrument given to evidence or further secure the payment and ~ performance of any obligation secured hereby are referred to collectively as the"Loan Instruments". TO PROTIaCT THE SECURITY OF THIS DFEI) OF TRUST': 1. PAYMENT OF INDEBTEI)IVESS. Trustor shall pay when due the principal of, and the interest on, the indebtedness evidenced by the Note, charges, fees and all other st:ma as provided ttx the Lean Instruments. 4 2, TAXES AND ASSESSMENTS. Trustor shall pay all taxes and special assessments of every kind, now or hereafter levied a ainst the trust estate or an ~ f; y part thereof as follows: (initial one) _XX Trustor shall directly pay such taxes, without notice or demand as each installment comes due and shall provide the beneficiary with evidence of the payment of the same. Trustor shall pay to beneficiary one-twelfth of the real estate taxes each mpnth and such other assessments as they become due. The one-twelfth payment shall be adjusted annually as the taxes change and trustor agrees that after payment of the taxes each year that any deficiency will be promptly paid to Beneficiary, Beneficiary agrees ~ ' to provide trustor with receipts showing that the real estate taxes have been paid in full and when due. 1 3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance insuring the improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the unpaid principal balance of the ~ Note (co-insurance not exceeding 80°In permitted). Such insurance policy shall contain a standard mortgage clause in favor of Beneficiary and shall not be cancellable, terminable or modifiable without ten (lU) days prier written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate. 4. AC'T'IONS AFFEL'TING TRUST ESTATE. Trustor shall appear in and contest any action ar proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary ar Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in any of the Loan Instruments, Beneficiary and/or Trustee, each in its own discretion, without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation, may make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and ~ i expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without limitation costs erf evidence of title, court costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten (IU) days of written demand shall draw interest at the default rate provided in the Note. ' 5. EMIN)aNT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken or damaged by reason of ! any public improvement nr condemnation proceeding, or in any other manner including deed in lieu of Condemnation ("Condemnation"), or should Trustor receive any notice or other information regarding such proceeding, Trustor shal- give prompt written notice thereof' to Beneficiary, Beneficiary shall be entitled to all compensation, awards and other payments or relief therefor, and shall he entitled at its option to commence, appear in and pt•osecute in its awn name any action or proceedings. ~ Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or damage. All such ! compensation, awards, damages, rights oC action and proceeds awarded to Trustor (the "Proceeds") are hereby assigned to ' Beneficiary and Trustor agrees to execute such further assignments of the Proceeds as Beneficiary ar Trustee may require. 6, FIJTi.1R1? A17VANCES. Upon request of'I'rustnr, Beneficiaryy, txt I3enpficiary's option, prior to recnnveyance of the Property Lu'1'rustur Wray uwke 1'utur•c advuncos to'I'rustur. ~iLICh I'lltllrl; tlelVlxpL'eH, with interest thereon, shall be securotl by this Deed o(' 'T'rust when evidenced by promissory Motes stating that said notes are secured hereby. 7. APPOINTMENT OF SUCCESSOR'l'RUSTEE. Beneficiary may, from time to time, by a written instrument executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Trust Estate is located and by otherwise complying with the provisinr~ of the applicable law of the State of Nebraska substitute a successor or successors to `: the Trustee named herein or acting het ,tiler. 8. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto, their ~ heirs, legatees, divorcee, personal representatives, successors and assigns. The term "Beneficiary" shall mean the owner and holder of the Note, whether or not named as Beneficiary herein. 9. INSPECTION. Beneficiary or its agent may make reasonable entries upon and inspections of the Property. Beneficiary shall give Trustor notice at the time of or prior to an inspection specifying reasonable cause for the inspection.' i _,._ _... ____ _. .. __ ... -s- _ ... ..... Rnv aMr+ } r~~ ~:~ p F .~..