201005741 - Laserfiche WebLink

Browse

C=) ji M r rU ~ m x CA N x n~ C Ti M A C7 C -4 14- C-n mom= o n _Z: M CC) DEED OF TRUST 0 f~ THIS TRUST DEED made this day of 2010, between ENCINGER v7o ' S~' ENTERPRISES, LLC, a Nebraska Limited Liability Comp ny, as~TRUSTOR, and WILLIAM A. FRANCIS, A Member of the Nebraska State Bar Association, as TRUSTEE, and KRAUS GREEN STAR FAMILY LIMITED PARTNERSHIP and RYAN S. KRAUSS, LLC, of Grand Island, Nebraska, hereinafter referred to as BENEFICIARIES. WITNESSETH: That TRUSTOR hereby grants, bargains, sells and warrants to TRUSTEE, IN TRUST, its successors and assigns, with power of sale, the following-described real property: Lot 8, Block 94, Original Town, now City of Grand Island, Hall County, Nebraska together with all buildings, improvements and appurtenances thereon. The TRUSTOR hereby covenants and agrees with the TRUSTEE that TRUSTOR is lawfully seized and the owner of the above-described property; that it has good right and lawful right and authority to sell the premises. Premises are subject only to a first lien Deed of Trust to Exchange Bank, and further that TRUSTOR will warrant and defend the title to said premises forever against the claims of all persons whomsoever. For the purpose of securing performance of each agreement of TRUSTOR herein contained and the payment of THIRTY THOUSAND DOLLARS ($30,000.00), the TRUSTOR has executed a Promissory Note bearing even date, at the rate of interest and on the terms and conditions as set forth in such Note until paid. The principal sum and interest shall be payable in accordance with and upon the terms and conditions of said Note of even date, and in any event the entire principal balance due hereunder and ally accrued interest shall be paid on July 15, 2020. All installment payments hereunder shall be applied first to the payment of interest computed monthly on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has been provided to each of the parties hereto, and remainder of each payment of each installment to be applied to principal. All payments due hereunder shall be paid at the residence of the BENEFICIARIES or as the holder of said security shall designate in writing. It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and until filing of Notice of Default, the TRUSTOR shall: A. Retain possession of the property at all tinges, except as may be otherwise agreed by the parties in writing, B. Maintain the building and its improvements and all personal property sold under the parties' Contract for Sale of Real Estate, in good condition and repair. C. Pay all general and special taxes and all special assessrnents of every kind levied or assessed against or due upon said property before delinquency, and to deliver to BENEFICIARIES copies of receipts showing payment of such taxes. D. Procure and maintain policies of all-risk insurance on said improvements, in sums and underwritten by companies acceptable to the BENEFICIARIES, in an arnoluit of at least One Hundred Ninety Thousand Dollars ($190,000.00), which policies shall name the BENEFICIARIES as additional insured(s), with the loss proceeds payable to the parties as their interests may appear hereunder. TRUSTOR agrees to provide BENEFICIARIES with copies of such policies or certificates of insurance during the term of this indebtedness, which policies of insurance may not be cancelled by said carrier without fifteen (15) days written notice to BENEFICIARIES. r 4~ VV ~I