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20�103255
<br />all payable according to the terms of the note(s), credit agreement(s), or other instrument(s) modifying
<br />the same.
<br />Date of Note(s) or Credit Aqreementis)
<br />04/26/2011
<br />Principal Amount
<br />$180,000.00
<br />#76878-206
<br />[�S[ � • ���I�Y?
<br />230, 000.00
<br />#76878-202
<br />Provided, however, that the total principal indebtedness outstanding and secured hereby at any one
<br />time will not exceed the sum of FOUR HUNDRED TEN THOUSAND, ($410.000.00), exclusive of
<br />interest and protective advances authorized herein or in the loan agreement(s); provided further, that
<br />THIS PARAGRAPH SHALL NOT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR
<br />ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL
<br />PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
<br />This Trust Deed will be due March 1, 2023.
<br />Trustor(s) hereby warrants that Trustor(s) holds fee simple title to the above described property, that
<br />Trustor(s) has good and lawful authority to deed and encumber the same, that the property is free and
<br />clear of all liens and encumbrances, except encumbrances of record, and that Trustor(s) will warrant
<br />and defend the property, at Trustor(s) expense, against all claimants whomsoever. Trustor(s) also
<br />hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and
<br />to the above described property.
<br />This trust deed secures more than one note. In the event of default under any note, all notes will be
<br />considered to be in default and the Beneficiary may exercise the remedies provided herein in
<br />satisfaction of all notes.
<br />Trustor(s) and each of them further covenants and agrees with Beneficiary as follows:
<br />1. To pay all liens, judgments, or other assessments against the property, and to pay when due all
<br />assessments, taxes, rents, fees, or charges upon the property or under any lease, permit, license, or
<br />privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or on public
<br />domain.
<br />2. To insure and keep insured buildings and other improvements including fixtures and attachments
<br />now on or hereafter placed on the property to the satisfaction of Beneficiary, will on demand furnish
<br />said policies or furnish proof of insurance to Beneficiary. Any sums so received by Beneficiary may be
<br />used to pay for reconstruction of the destroyed improvements or if not so applied may be applied, at the
<br />option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust
<br />Deed. Such insurance will be in an amount at least equal to the lesser of the loan balance, the actual
<br />cash value of the collateral, or the replacement cost of the property, and will at a minimum, cover losses
<br />caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke,
<br />windstorm, and hail. Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as
<br />required by Beneficiary and by the National Flood Insurance Act of 1968, as amended, and by
<br />regulations implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable
<br />for any failure by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in
<br />force.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on
<br />the property occupied and in good repair, maintenance, and condition and to neither commit nor permit
<br />any acts of waste or any impairment of the value of the property. Beneficiary may enter upon the
<br />property to inspect the same or to pertorm any acts authorized herein or in the credit agreement(s).
<br />4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges
<br />or maintain any insurance on the property, buildings, fixtures, attachments, or improvements as
<br />provided herein or in the loan agreement(s), Beneficiary, at its option, may make such payments or
<br />provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the
<br />principal indebtedness secured hereby, be immediately due and payable and bear interest at the
<br />default rate provided in the note(s) or credit agreement(s) from the date of payment until paid. The
<br />advancement by Beneficiary of any such amounts will in no manner limit the right of Beneficiary to
<br />declare Trustor(s) in default or exercise any of Beneficiary's other rights and remedies.
<br />5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust
<br />Deed, including any action by Beneficiary to enforce this Trust Deed or any suit in which Beneficiary is
<br />named a defendant (including condemnation and bankruptcy proceedings) Beneficiary may incur
<br />expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs,
<br />expenses, appraisal fees, and other charges and any amounts so advanced will become part of the
<br />principal indebtedness secured hereby, be immediately due and payable and bear interest at the
<br />default rate provided in the note(s) or credit agreement(s) from the date of advance until paid.
<br />6. Any awards made to Trustor(s) or their successors by the exercise of eminent domam are hereby
<br />assigned to Beneficiary; and Beneficiary is hereby authorized to collect and apply the same in payment
<br />of any indebtedness, mature or unmatured, secured by this Trust Deed.
<br />7. In the event of default in the payment when due of any sums secured hereby (principal, interest,
<br />advancements, or protective advances), or failure to pertorm or observe any covenants and conditions
<br />contained herein, in the note(s), credit agreement(s), or any other instruments, or any proceedings is
<br />brought under any Bankruptcy laws, Beneficiary, at its option, may declare the entire indebtedness
<br />secured hereby to be immediately due and payable and the whole will bear interest at the default rate
<br />as provided in the note(s) or credit agreement(s) and Beneficiary may immediately authorize Trustee to
<br />exercise the Power of Sale granted herein in the manner provided in the Nebraska Trust Deeds Act, or,
<br />at the option of the Beneficiary, may foreclose the Trust Deed in the manner provided by law for the
<br />App #: 5071205; CIF #: 76878; Note #: 206 202EA Legal Doc. Date: April 26, 2011
<br />FORM 5011, Trust Deed and Assignment of Rents Pa9e Z
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