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<br />Jaaob Nocth Yiinting Ca, Waltan, NE. 68461
<br />�;o�.loso53
<br />THIS DEED OF TRUST, is made as
<br />and among Tim C. Plate, a s:
<br />("Trustee"), whose mailing address
<br />$th
<br />day of August � 2011 bY
<br />,
<br />' ("1Yustor"), whos aaailing address is
<br />: �arv Tl_ e_ ttorne4—at LSw
<br />and Plate Enternrises LLC ('Beneficiary'7
<br />whose mailing address is 2209 E. Stolley Park Bd. , Gt��slan�l�
<br />r--
<br />FOR VALUABLE CONSIDERATION, Trustor irrevoca.bly trau�sfers, conveys and assigna to 1�ustee, IN TRUST, WITFi
<br />POWER OF SALE, for the benefit and security of Ben ficia�y, under and subject to the terms and conditions of this Deed of �ust,
<br />the real property located in the City of Grand Is�and , County of
<br />_j{,al l . State of Nebraska, and legally described as follows (the "Progerty"):
<br />Lot Two (2), Saddle Club Subdivision, Washington Township, City of Grand Island,
<br />Hall Cou_n��t�y Nebraska
<br />TOGETHEl� WITH, all rents, easements, appurtenances, hered'}taments, interests in adjoining roads, streets and alleys,
<br />improvements and buildings of any kind situated thereon and all personal property that may be or hereafter become an integral
<br />part of such buildings and improvements, all crops raised thereon, and a�l water righte.
<br />The Property and the entire estate and in.terest conveyed to the �Yustee are referred to collectively as the "�Yust Estate".
<br />FOR THE PURPOSE OF'SECURSNG:
<br />a. Payment of indebtness in the total principal amount of $ 100, 000.00 with interest tliereon, as evidenced by that
<br />certain promissory note of even date (the"Note") with a maturity date of ugus� 8, 2026 �
<br />executsd by Trust�r, whicb has been delivered and is payable to the o,rder of Beneficiary, and which by this reference is hereby
<br />made a part hereo£ and any and all modificatians, extensions and renewals therea� and
<br />b. Payment of all sums advanced by Benefici«ary to protect �,the Z�ust Estate, with interest therean at the rate of
<br />Five percent c 5 %) per annum, and ,
<br />c. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument gi,ven to evidence oz £urther secure the payment and
<br />performance of any obligatian secured hereby are referred to collectively as the°Loan Instruments"
<br />TO PROTECT THE SECUR.TTY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. 'I`rustar shall pay when due tlie principal o� and the interest on, the indebtedness
<br />evidenced by the Note, charges, fees and all other sums as provided ixi, the Loan Instruments.
<br />Z. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and special assessments of every kind, now or hereafter levisd
<br />against the trust estate or any part thereof as follows:
<br />(initial ane)
<br />�_ 1�ustor shall directly pay auch taxes, without notiee ar demand as each i.nstallment comes due and shall
<br />provide the beneficiary with evidence of the payment of the same.
<br />Trustor shall pay to beneficiary one-twelt�h of the real estate taxes each month and such other assessments
<br />as they become due. The one-twelf�h paymemt ahall be adjust annually as the taxes change and trustor agrees that
<br />after payment of the taxes each year that any deficiency will be promptly paid to Beneficiary. Beneficiary agxees
<br />to provide trustor with receipts showing that the real eatate taxes have beea paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire anc� extended coverage insurance insuring the improveraents
<br />and buildings constituting part of the Trust Estate for aa amount no less than the amount of the unpaid principal balance of the
<br />Note (co-insurance not exceeding 80% permitted). Such insurance pol�cy ahall contain a standard mortgage clause in favor of
<br />Beneficiary and shall not be cancellable, terminable or modifiable w#thout ten (10) days prior written notice to Beneficiary.
<br />7�vstor shall promptly repair, maintain and replace the �ust Estate or any part thereof so that, except for ordinary wear and
<br />tear, the Trust Estat� shall not deteriorate. In no event ahall the Trust�'or commit waste on or to the 7.Yust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall, appeai� in and cont8at any action or proceeding purporting to
<br />af#'ect the security hereof or the rights or powers of Beneficiary or Trus�ee, and shall pay all costs and expenses, including coat of
<br />evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary or'I�ustee may appeaz: Should Trustor
<br />fail to make any payment oz to do any act as and i�n the manner provided in any of the Loan Instruments, Beneficiary and/or
<br />Trustee, each in its own discretion, without obligatioa so to do and without notice to ar demand upon Trustor and without
<br />releasing Trustor &om any obligation, may make or do the same in; such manner and to such extent as either may deem
<br />necessary to protect the aecurity hezeo£ Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and
<br />expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without
<br />limitation costs of evidence of title, court costs, appraisals, surveys an�d attorney's fees. An.y such costs and expenses not paid
<br />within ten (10) days of written demand ahall draw interest at the default rate provided in the Note.
<br />5. EMINENT DO1ViAIN. Should the �ust Estate, or any part ther�of or interest therein, be taken or damaged by reason of
<br />any public unprovement ar condemnation proceeding, or in any oP manner including deed in lieu of Condemnation
<br />("Candemnation"), or should Tivstor receive any aotice or other informa�ian regarding such proceediag, Trustor shall give prompt
<br />written notice thereof to $eneficiary. $eneficiary shall be entitled to ',all compensation, awards and otl�er payments or relief
<br />therefor, and shall be entitled at its option to commence, appear in and prosecute in its own mame any action or proceedi.ngs.
<br />Beneficiary ahall also he entitled tfl make any compromiae or aettlemRnt in connection with such taking or damage. All such
<br />compensatian, awards, damages, rights of action and praceeds awarded to Trustor (the "Proceeds") are hereby assigned to
<br />Beneficiary and �rustor agrees to execute auch further assignments of;the Proceeds as Beaeficiary or Tivstee may require.
<br />6. FUTUR.E ADVANCES. Upon request of Truator, Beneficiary, at Bjeaeficiary's option, prior to reconveyance of the Property
<br />to Trustor may ma.ke future advances to Trust,�r. Such future advances�, with interest thereon, shall be secured by this Deed of
<br />Trust when evidenced by promissory notes stating that said notes are secured hereby.
<br />7. APPOIN'.CMENT OF SUCCESSOR TRUSTEE. Beneficiary may, �'rom time to ti.me, by a written instrument executed amd
<br />acknowledged by Beneficiary, mailed to 7,4vstor and Recorded in thg Countq in which the Trust Estate is located and by
<br />othenvise complying with the provisior� of the applicable law of the 3tate of Nebraska substitute ��a successor or successors to
<br />the Trustee named hereim or acting hez ider.
<br />8. SUCCESSORS AND ASSIGNS. This Deed of'I�ust applies to, ixfiures to the benefit of and binda all parties hereto, their
<br />heirs, legatees, divorcee, pereonal representatives, successors and asaigns. The term "Beneficiery" shall mean the owner and
<br />holder of the Note, whether oz not named as Beneficiary herein. '.
<br />9. INSPECTION. Beneficiary or its agent may make reasonable e�i.tries ugon and inspections of the Property. Beneficiary
<br />shall give Trustor notice at the time of or prior to an inspection specify�ing reasonable cause for the inspection.
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