86101957 - Laserfiche WebLink

Browse

86- 101957 DEED OF TRUST THIS DEED OF TRUST, made this — 71_ —dayof Apr 1 1g 86 by andamongDanny D. McWhi,ter and Carol L. McWhirter, Husband and Wife) Route #1 ___ Doni hen, _ whose mailing address Is (City) (state and zip) Nebraska_ _ 68832 (herein "Trustor"); and sank of Doni phan _ whose 118-120 Plum St. Doniphan Nebraska 68832 mailing address is (Street) _.. - - - - - -- (City) _._ �_ (Stale ana Zip) - (Heetn "Trustee "); and 34n Of D__ Oniphan whose mailing address is (Street) 1-120 PluRcity)_ Donip-han (State and Zip) Nebraska 68832 (herein "Beneficiary"). FOR VALUABLE CONSIDERATION, including the indebtedness identified herein and the trust herein created, the receipt of which is hereby acknowledged, Trustor Irrevocably grants, transfers, conveys, and assigns to Trustee. IN TRUST, WITH POWER OF SALE, for the benefit and secur- ity of Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the real property described as follows: A tract of land comprising the southerly Three Hundred Eighty Three (383.0) feet of the westerly Four Hundred Thirty Five and Six Tenths (435.6) feet of the Southwest Quarter of the Southeast Quarter (SW';SEIS) of Section Twenty Eight (28) Township Nine (9) North, Range Nine (9) West of the 6th P.M. in Hall County, Nebraska, said tract containing 3.83 acres more or less. TOGETHER WITH, all rents, profits, royalties, Income and other benefits derived from the real property; all leases or subleases covering the real property or any portion thereof, now or hereafter existing of entered into, and all right, title and interest of Trustor thereunder; all interests, estate or other claims, both to law and In equity, which Trustor now has or may hereafter acquire in the real property; all easements, rights -of -way, tene- menta, heraditarnents and appurtenances thereof and thereto; all oil and gas rights and profits, water rights and water stock; all right, title and interest of Trustor, now owned or hereafter acquired, in and to any land lying within the right -of -way of any street or highway adjoining the real property, any and all buildings, fixtures, improvements, and appurtenances now or hereafter erected thereo . or belonging thereto, (herein referred to as "Improvement" or Improvements "); and any and all awards made for the taking by eminent domain, or by any proceeding or pur- chase in lieu thereof, of the whole or any part of the real property. All of the foregoing estate, property and interest hereby conveyed to Trustee herein collectively referred to as the "Property ". THIS DEED OF TRUST SHALL SECURE: X en Thousand Seven (a) The payment of indebtedness evidenced by Trustor's note of even date herewith in the principle sum of ._1- u n re and 0 _UU Dollars (3 67,700.00 __-..), together with interest at the rate or rates provided therein, (herein, together with any and all renewals, modifications, and extensions thereof, referred to as the "Note ") both principal and Interest on the Note being payable in accordance with the terms set forth therein, reference to which is hereby made, the final payment of principal and interest, if not sooner paid and if no renewals, modifications or extensions are made, due 6, ;d payable on _Marsh... �,._M6____. (b) The performance of each agreement and covenant of Trustor herein contained; and (c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or advanced under the terms of this Deed of Trust. (d) The payment of any future advances necessary to protect the security or any future advance made at the option of the parties; and (a) The performance of an obligation of any other person named in this Trust Deed to a beneficiary . TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS: 1. Payment of Principal and Interest. Trustor shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, and all other charges and fees as provided in the Note, and the principal of and Interest on any Future Advances secured by this Deed of Trust 2. Warranty of Title. Trustor is lawfully seized and possessed of good and indefeasible title and estate to the Property hereby conveyed and has the right to grant and convey the Property; the Property is free and clear of all liens and encumbrances except liens now of record; and Trustor will warrant and defend the title to the Property against all claims and demands. 3. MatntaMnce and Compliance with Laws. Trustor shall keep the Property in good condition and repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease it this Deed of Trust is on a ieasehold. No improve- ment, now or hereafter erected upon the Property shall be altered, removed or demolished without the prior written consent of Beneficiary. Trustor shall comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property and not commit, suffer, or per- mit any act to be done in or upon the Property in violation of any law, ordinance, regulation, covenant, condition or restriction. Trustor shall com- plete or restore promptly and In good workmanlike manner any Improvement on the Property which may be damaged or destroyed and pay, when due, all claims for labor performed and materials furnished therefore and for any alterations thereof. 4. lneuramot. Trustor, at its expense, will maintain with insurors approved by Beneficiary, insurance with respect to the Improvements and per- sonal property, constituting the Property, against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended coverage endorsement, in an amount equal to at least one hundred percent of the full replacement value thereof and Insurance against such other hazards and in such amounts as is customarily carried by owners and operators of similar properties or as Beneficiary may require for its protection. Trustor will comply with such other requirements as Beneficiary may from time to time request for the protection by insurance of the inleests of the respective parties. All Insurance policies maintained pursuant to this Deed of Trust shalt name Trustor and Beneficiary as in- sureds, as their respective interests may appear, and provide that there shall be no cancellation or modification without any less than 15 days prior written notification to Trustee and Beneficiary. In the event any policy hereunder is not renewed on or before 15 days prior to its expiration date, Trustee or Beneficiary may procure such Insurance In accordance with the provisions of paragraph 7 hereof. Trustor shall deliver to Beneficiary the original policies of insurance and renewals thereof or memo copies of such policies and renewals thereof. Failure to furnish such Insurance by Trustor, or renewals as required hereunder shall, at the option of Beneficiary, constitute a default. 5. Texee, Aos"~Is, and Charges. Trustor shall pay all taxes, assessments and other charges, Including, without limitation, fines and im- positions attributable to the Property, and leasehold payments or ground rents, if any, before the same become deliquent. Trustor shall promptly furnish to Beneficiary all notices of amountsdue antler this paragraph, and in the event Trustor shall make payment directly, Trustor shall prompt ly furnish to Beneficiary receipts evidencing such payments. Trustor shall pay all taxes and assessments which (nay be levied upon Beneficiary's interest heroin or upon this Deed of Trust without regard to any law that may be enacted Imposing payment of the whole or any part thereof upon the Beneficiary. L- __