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HomeMy WebLinkAbout20075178NUMPGS~_ ADAMS COUNTY, NE DOCTAX CK# Q~ FEESao.So pD X0.50 CK# /a 0 8 20075178 INST. N0. Fl~v Q ~ 5 ~. "~ 8 CHG ACCT# tAQn ~cBK~ RET FEES: -CASH ~.O.D. CK#._._, . Date ~- ~ ~- o ~ Mme : 5a P. m RECD /-aerie, rtoLtrt 1t+~. ~~ ~. . ~ ~~~ RETURN ~ k NUM C: s ,jre~..'~'~`^s'~ -Ntas~rna~ 6RgpI RD. COMP ,~' .ttiJ .Z%.~S ~~x-~ REGISTER OF DEED$ COMPARE / ~ CADAS - AO / Stale or Nebraska ~ ~ Space Above This Line For 12ecording llala iJEELi OF TRiJ~T. (With Future Advance Clause) ^ Construction Security Agreement ^ Master form recot•ded by ............................. 1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is ..................11:19-2007...,•,,,,........ and the parties, their addresses and tax identification mm~bers, if reyuired, are as follows: TRUSTOR: SCOTT E. COE and AMY S. COE, Husband and Wiie 2709 W 3RD ST HASTINGS, NE 68901 ^ If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and acknowledgments. ' TRUSTEE: _ Heritage Bank 800 W 3rd Street - Hastings, NE 68901 BENEFICIARY: Heritage Bank Drganized and existing under the laws of the state of Nebraska 800 W 3rd Street P.O. Box 349 Hastings, NE 68901 2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined below) and Trustor's performance under this Security Instrument, Trustor irrevocably grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, with power of sale, the following described ProPerY~ LOT FOUR 141, IN THE REPEAT OF BLOCK ONE I11, WEST HEIGHTS ADDITION TO THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF. The property is located in ............................. AD.AMS.............................. at 2709.W,3RD,ST.................... (Comity). ............................:.........'...:.................., ....................HASTIN.GS...................., Nebraska ........6890.1........ (Address) (City) ' (ZIP Code) 't'ogether with all rights, easements, appureuauces, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock and all existing and future hnprovemeuts, structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIMTT. The total principal amount secured by this Security Instrwneut at any one time shalt not exceed $ 25,11p0.0,Q ......................... .. .. This lirnitatiou of arnount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this lunitatiou does not apply to advances made under the tcmts of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this Security Instrument. , 4. SECURED DEBT AND FUTURE ADVANCES- The term "Secured Debt" is defined as follows: A.llebt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described below and all their extensions, renewals,. modifications or substitutions. (When referencing the debts below it is suggested titer you include items such as borrowers' names, note mnourrts, interest rates, maturity dates, etc.) NEBRASKA -DEED OF TRUST (NOT FOR FNMA, FHLMC, FHA OR VA USE) lpage /J212'~ ©1084 Bankers Systems, Inc., St. Clod, MN Form ftE-DT-NE 1/30/2002 LL'' ~ ~ T ..~;"i f'~ 'u `~ ~i4~ ~ f 1 2 0 0'7:51'7 8 B. All future advhuces from Beneficiary to Trustor or other future obligations of 'Trustor to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this Security Instrument whether or not this Security Iustrwneut is specifically referenced. If more than one person signs this Security Instrument; each Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by any one ar more Trustor, or any one or more Trustor and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced. All future advances-and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute%a corntnitmeut to make. additional or future loans or advances in any amount. Auy such commitment must be agreed to iu a separate writing. C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by taw, including, but not Lunited to, liabilities for overdrafts relating to any: deposit account agreement between Trustor and Beneficiary. D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting the Property and its value and any outer sums advanced and expenses incurred by Beneficiary under the terms of this Security Iustruinent. This Security lustrmneut will not secure any other debt if Beneficiary fails to give any required notice of the right of rescission. 5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the teens of the Secured DebCand this Security Instrument. 6. WARRANTY OT TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, -with power of ' sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record. 7. PRIOR SECURITY INTERESTS. With regard to any outer mortgage, deed of trust, security agreement or other lieu document that created a prior security interest or encumbrance ou the Property, Trustor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Beneficiary any notices drat Trustor receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances 6uder any note or agreement secured by the lien docutnen[ without Beneficiary's prior written consent. 8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges _ relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to the Property against any claims that would impair dte lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply Tabor or materials to maintain or hnprove the Properly. 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary "may; at its option, declare the entire balance of the Secured Debt to be hmnediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions hnposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Ltstrument is released. 10. PROPERTY CONDITION, ,ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioratio^ of the Properly. Trustor will .keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any license, restrictive covenant or easetneut without Beneficiary's prior written consent. Trustor will ^otify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage 'to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose oP inspecting the Property. Beneficiary shall give Trustor notice at the time of or before. an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely-for Beneficiary's benefit and Trustor will in uo way rely on Beneficiary's inspection. ~ . 11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security Ltstruntent, Beneficiary may, without notice,. perform or cause them to be performed. Truswr appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for Trustor shall not create an obligation to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of, Beneficiary's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's security interest in the .Property, including completion of the construction. 12. ASSIGNMENT OT LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for the benefit of Beneficiary as additional security all the right, title and interest in the following,(all referred to as Property): existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property, including any extensions, renewals, modifications or replacements (all referred to as Leases); acid rents, issues and profits (all referred to as Rents). 1n the event any item. listed as Leases or Rents is determined to be personal property, this Assigmnent will also be regarded as a security agreement. Trustor will promptly provide Beneficiary with copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be provided ou execution of the Assigmnent, and alt future Leases and any other information with respect to these Leases will be provided hnmediately after they are executed. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not indefxult....-,... __,.. .... <. Upon default, Trustor will receive. any Renis iu trust for Beneficiary. aiud will not comm~ingle the Rents with any other funds. Trustor agrees that this Security Instruient is htunediately effective between Trustor and Beneficiary and effective as to third parties on the: recording of this Assignnfehf: "As; long"~as ~chis Assignment is in effect, Trustor warrants and represents that no default exists under the Leases, and the parties subject; to the Leases have not violated any applicable law ou leases, licenses and landlords and~tenants:'.i' ' ''f- 13. LEASEHOLD5;_ CONDOMINIDMS; PLANNED,,UNIT...DEVELOPMENTS. Truster ,agGges,eto lc~In~ly~,~ewith the __ provtstons of any lease tf this Security Instrument is on a.leasehold. If the Property includes x ~htt I'ti ` "on~°ommmm or a IAnned'-utitl'dcvelo [neat, Trustor will cr 'p p ~ p fore-.all of:Trustor's duties°under. the cove~ants,~~by„J,,~ws~, ork~~eg~t[atidn~.°Af~the _ _.condominimn-or; plamted-unit development. ' ~t a 'v~' ~ " a tFj~~~-.©1994 Bankars'Systems,'Inc., St Cloud, MN Form RE-DT-NE 1/30/2002 ~~ ~..,....a«,~: $;!-"•}s~'"""~!~+4~~ /Page 2(wy'o_f 41 3 p} /~~ yy,e~..~„ngnew MYX T Y ~V QATd+ 2.~t~ 31~ >~~1 ~ fit. L ~ /..,, 2 0 0'7 51'7 8 ~. ,.,-~ c'.'V! ill:.. - -- - ~' 14. DEFAULT. Trustor will be in default if any party obligated on the Secured Debt fails~[o make payment when due. Trustor will be in default if a breach occurs uuder the terms of this Security Instrument, or any other document executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beneficiary at any tune is insecure with respect to any person or entity obligated ou the Secured Debt or that the prospect of any payment or the value of the Property is unpaired shall also constitute an event of default. 15. REMEDIES ON DEFAULT. In some instances, federal and state. law will require Beneficiary to provide Trustor with notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these Limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Trustor is iu default. At the option of Beucficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become uiunediately due a_nd payable, after giving notice ,if required by law, upon the, occurrence of a default or anythne thereafter, Ia addition; Beneficiary shall be entitli:u' to all the remedies provided, by,' law, the' teens of the Secured Debt, t(tis Security Instrument and any related documents; iucludiug without limitation, the power to sell the Property. If there is a default, 'Trustee shall, in addition to any' other permitted remedy; at the request oP the Beneficiary, advertise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title and interest of Trustor at such tune and place as Trustee designates. 'Trustee shall give notice of sale iucludiug the tune, teens and place of sale and a description of the property to be sold as required by the applicable law in effect at the thne of the proposed sale. Upo^ sale of the Property and to the extent not prohibited by law, 'frustee shall make and deliver a deed to the Property sold which conveys absolute title to the purchaser, and after first paying all fees, charges. and costs, shall pay to Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessments and prior, encmnbrances and interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property. 'fhe recitals in auy.deed of conveyance shall be prima facie evidence of the facts set forth therein. All remedies arc distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law or equity, whether or not expressly set fonl>. The acceptance by Beneficiary of any smn in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require complete cure oP any existing default. By not exercising any remedy o^ Trustor's default, Beneficiary does not waive Beneficiary's right to later consider the event a default if it.contiuues or happens again. 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' `FEES; COLLECTION COSTS. Except when prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant i^ this Security Instrument. Trustor will also pay ou demand any amount incurred by Beneficiary for, insuring, inspecting, preserving or otherwise protecting the Property xud Beneficiary's security interest. These expenses will bear interest from the date of the payment until paid in full at.the highest interest rate in effect as provided in the terms of the Secured Debt. Trustor agrees to pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and remedies under this Security lustrutrient. Phis amount may include, but is not limited to, attorneys' fees, court costs, and other legal expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any recordation costs of such release. 17. ENVIRONMENTAL LAW5 AND HAZARDOUS SUBSTANCES. As used in this section, (l) Enviromneutal Law means, without lintitatioit, the Comprehensive Enviro~mtental 2espouse, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and- all other federal, state and local laws, regulations, ordinances, court orders,. attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; xud (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without lunitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Trustor represents, warrants and agrees than A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Flazardous Substance is or will be located, stored or released o^ or in the Property. This restriction does not apply to small:quautities of ITazardous Substances that are generally recognized to be appropriate for the uonnal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have been, are, and shall remain iu full compliance with any applicable Environmental Law. C. Trustor shall hnmediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on, uuder or about the Property or there is a violation of any Enviromneutal Law concerning the Property. lu such an event, Trustor shall take all accessary remedial action iu accordance with any Euviromnental Law. D. Trustor shall hnmediately. notify Beucficiary iu writing as soon as Trustor has reason to believe there is any pending or threatened investigation, clahn, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 18. CONDEMNATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public entities to purchase or take any or all of the Propeny through condemnation, eminent domain, or.any. other means. Trustor authorizes Beucficiary to intervene iu Trustor's value iu any of the above described actions or~claims. Trustor assigns to Beneficiary the proceeds of any award or ciahn for damages connected with a condemnation .or other taking of all or any pan of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument. This assigmnent of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. 19. INSURANCE. Trustor shall keep Propeny insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Propeny due to .its type and location. This insurance shall be maintained in the atnouuts and for the periods that Beneficiary requires. What Lender requires pursuant to the preceding sentence.cati change during the teen oP the loxu. 1'he insurance carrier providing the insurance shall be chosen by Trustor subject to Beneficiary's approval, which shall not be unreasonably withheld. If Trustor fails to maintain the coverage described above, Beneficiary may, at Beneficiary's option, obtaimcoverage to protect Beneficiary's rights iu the Propeny according to the terns of this Security Instrument. All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Trustor shall inunediately notify Beneficiary of cancellation or terniuation of the insurance. Beneficiary, shall have the right to hold the policies and renewals. If Beucficiary requires, Trustor shall hnmediately give to Beneficiary all receipts of paid premimns and renewal notices. Upon loss, Trustor shall give iuunediate notice to the insurance carrier and Beucficiary. 13eueficiary may make proof of.loss'if no[ made hnmediately by Trustor. F~~2rL~M ©1994 Bankers Systems, Inc., St. Cloud, MN Form RE-OT-NE 1/30/2002 „ ~ (page 4l ,: ~~, , 200'751'78 Unless otherwise agreed in writiug, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Auy application of proceeds to principal shall not extend or postpone the due date of the scheduled paymeut nor change the amount of any paymeut. Any excess will be paid to Qte Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt unmediately before the acquisition, 20. ESCROW TOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow.:' 21. FINANCIAL REPORTS AND ADDTTIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or iufonnation Beneficiary may deem reasonably necessary. Trustor agrees. to sign, deliver, and file any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary's lien status on the Property. 22, JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint xnd individual If Trustor signs this Security Insttument but-does not sign an' evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property 'to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and 'Trustor, Trustor agrees to waive avy rights that may prevent Beneficiary from bringing any action or claun against Trustor or any party indebted under the obligation. These rights may include, but are not !united to, any anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security dustrtunent may extend, modify or make any change iu the terms of this Security Instrument or any evidence of debt witfiout Trustor's consent. Such a change will not release Trustor from the terms of this Security Instrument The duties and benefits of this Security lustrwnent shall bind and benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILTTY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully integrated. "This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument,. attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly peunits the variations by written agreement If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Tune is of the essence in this Security Instrument 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to tune remove Trustee and appoint a successor trustee without any other formality than the designation in writiug. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law. 25. NOTICE. Unless otherwise. required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated iu writiug. Notice to one trustor will be.deemed to be notice to all trustors. 26. WAIVERS. Except to the extent prohibited by law,. Trustor waives all appraisement and homestead exemption rights relating m the Property. 27. OTIIER TERMS. If checked, the following are applicable to this Security Instrument ^ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. ^ Construction Loan. This Security Instrument secures an obligation incurred for the construction of au unprovement ou the Property. ^ Fixture Filing. 'Trustor grants to Beneficiary a security interest in all goods that Grantor. owns now or in the future and ChaC are or will become fixtures related to the Property. This Security Iustruinent suffices as a financing statement and any carbon,. photographic or other reproduction may be filed of record for purposes of Article 9 of the Uuifonn Cmrunercial Code. ^ Riders. The covenants and agreements of each of.the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] ^ ,Condominium Rider ^ Planned Unit DevelopmenrRider ^ Other .................................................. ^ Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument on the.date stated on page 1. y~~ ~_ (Siynawre) SCOTT E. COE (Date ACKNOWLEDGMENT: ........... ....N.G~..:...................................j. (Siglature) AMY S COE (Date STATE OP Nabtaska ...................................... COUNTY OP ADAMS.............................................} ss. t°'~'"'do" / 'I'bis instrument was' acknowledged before me this ........19th ....... day of ................ November, 200.2 ................ by SCD.Td.~..CD.E;.AMY.S.:CO~, fins.hand.an.d!Nite ...........................................................................:.......... . My cotmnissiou expires: ~I~~log ...................... .. rry n/~ (Not PnUlic) (.JClL'~ ©1984 Bankers Systems, Inc„ St pond, MN Form RE-DT-NE 1/30/2002 `~~ 4 GENERAL NOTARY-State of Nebraska !page 4 of 4I ~@ LYNDSEY GRISS. ~~~r My Comm. Exp. Sept. 13, 2008 R G f