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HomeMy WebLinkAbout20075200NUM PGS~ DOC TAX CK# FEES SD PD • 0"b CK# afO 0 CHG • 50 ACCI'# 00 RETF~EIE,S: CASH_R.O.D.CK#_ REC'uJ=~erifGtat nk RETURN~~rr}. 'n 11IId11~116~~IW~II /,Z-7-io I ,. NUM mores ~ Gaul RD. COMP ,, rte ~~= 51 COMPARE /~ C,n.,nAS AO ~ ..ADAMS COUNTY, NE INST: N0. F~I,L~DO "IJ `~r U U ~~+ / Date - 8-0 ~~Timet ~~~ TER Off DE State of Nebraska ~ Space Above This Line H or 12ecording llata DEED OF TRUST , (With Fufure Advance Clause) ^ Construction Security Agreement ^ Master form recorded by ............................. • - - _- 1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is .............:....ll'?7~?007 .................... and the parties, their addresses and tax identification numbers, if required, are as follows:. TRUSTOR CLOCK TOWER PLAZA, A Nebraska Partnership 127 NORTH LEXINGTON HASTINGS, NE. 68901 ... ,.. .. .. .,. _c~..,. .,,. .. .. . ,. , ^ If ~ctiecked ~rel'ei' fo the attached Addenduiir incorporated hererri for additional I'rus`tors' their stguatrires _` and ackriowledgment`s`.+;, ri.. .,.:I,r, ., , ... ; t :. ,,i ... .I ~ + +:: .I ,,:. r ~,, . ... TRUSTEE: ~ ritage Bank 800 West 3rd Hastings, NE 68901 BENEFICIARY: Heritage Bank Organized and existing under the laws of the state oi.Nebraska 800 W 3rd Street P.O. Boz 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 property:. LOTS ONE 111, TW0 (21, THREE 131, AND FOUR 141, BLOCK TEN 1101, AND THE EAST HALF IE 1121 OF THE VACATED ALLEY TD THE WEST OF SAID LOTS, IN MOORE'S ADDITION TO THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF; AND THE'TRIANGULARLY SHAPED TRACT OF REAL ESTATE ADJACENT TO SAID LOT ONE 111, HAVING AS ITS THREE BOUNDARIES THE SAID COT ONE (11'AND THE'NORTH AND EAST LINESbF'SAlll'BLOCK'TEN 110) PROJECTED EASTERLY AND NORTHERLY RESPECTIVELY TO ` THEIR POINT OF INTERSECTION, LOCATED IN SECTION 12, TOWNSHIP 7 NORTH, RANGE 10 WEST OF THE 6TH P.M., IN THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA 1 The property is located iu ..............................AA9M>5.............................. at 127.NORTH.LEXINGTON ........................... (County) ............................................................ .....,'Nebraska'..::'..... 1........ (Address) (City) ~ ~ (ZIP Code) 'fogether.with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock and all existing and future improvements, structures, fixtures; and replacements that may now, or at any tune iu'the future, be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIMIT. The total principal tunount secured by this Security Instrument at any one time shall not exceed $ 35,AQQ:pO.,,,,,,.„ ............................... This,lhnitation of amount 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 leans 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. Debt incurred tinder the Cerms 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 that you include items such as borrowers' names, note amounas, iraerest rates, maturity dates, etc.) NEBRASKA -DEED OF TRUST SNOT FOR FNMA, FHLMC, FHA OR VA USE) /p e / 1t •rL ~" ©1994 Bankers Systems, Inc., S6 Cloud, MN Form RE-nT-NE 1/30/2002 ~ ~ !' ~ ~,y^ ~~ j J~ 5 l V/ r ,...., _- -~ 2QU'1>520.0"~ B. All future advances 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.. IitstrunicitCwbether br not this Securiiy Instrument is specifically refeieucedl"If trtore thah one person'signs •. thi's' Secuiity lustrtimeni; each Trustor agrees that th!s Security Instrument wilt-secure all'`future advances atid'fuCure obligauous ~;thal Are giveu•to dr' mcuired by any one or iitore `Trustor oP any one or tiiore 7 custor and 'othets 'Alt ftitute advances'and`'otlier"future obligations ate secutc:d by this SecunlyInstrument even though` all onpait ntay•tioC ' "yet be advanced. "AIC'ftittire"advatices'and`olliei fuf$re~ obligations' are'secured''as tf'niadc, on the' date of this"SecuCi(y lust~umeut_' Nothing in this Security Instrument shall constitute' a comminnent to make additional or future loans or advances lit any aitiouut:'Atiysuch cotnmtiunenl must be agreed to in a separate writing. ` ' C. All obligxlions`'Trustor owes to Beneficiary, which may -later arise, to the extent nat prohibited• by law, including, but not Ihnited ,.lo', liabilities for overdrafts relating to any. deposit- account agreement between Trustor aud Beneficiary., ll. All additional -'sums advanced and expenses-_incurred by Beneficiary for insuring,. preseiving or otherwise protecting the Property aud its value aud any other sums advanced and expenses incurred by Beneficiary under .the teens of this Security Instrument. - ~ This Security Instrument .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 udder the Secured Debt will be paid wheu.due and. in accordance with Cite terms of the Secured .Debt aud this Security Instrument. 6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by ibis Security Instrument aud has the right to irrevocably grant, convey, and sell the Propeny to Trustee, iu trust, with power of sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record. 7. PRIOR SECURTTY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that aeated a prior security interest or encumbrance on the Propeny, Trustor agrees:- A. To make all paytiteuts when due and to perform or comply with all covenants. B. 1'o promptly deliver to Beneficiary any notices Wat'Crustor receives from the holder. C. Not to allow 'any ',modification of extension of, nor to request any future advances •under any note or agreement secured by the lien-document without Beneficiary's prior written consent. S. CL'AIMS'AGAINST'TITIE:'T~ustorwillpay'all'taxesassessments;'liens;.ehcumbrauces; lease'payments`ground rents, utilities,!:ahd~ other cliatges~;'relating~ to thePropeny ti%Iien due s:=Beneficiary may requite-'1'~u>'t6r•'to; providel!to' Beneficiary copies' ofi all'noticcs: tliat'sueli'awounts are due! and' the receipts evidencing-Trustor's! paythenil! Trustor°will defend .title • to the Property against any claims that would hnpair the:=-lieu`of'this °Seciirity~Instrutnenp,!:<Trustor:~agkees to assign to Beneficiary, as requested •tiy Beneficiary, any rights, claims or defenses Trustor may have against parries who supply labor or materials to ntaiutxinor improve the Property. 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance .of the Secured Debl to . be iuuuediately due and payable upon the creatio^ of, or contract for the creation` of, any lieu, encumbrance, transfer or sale of the Property. 'Phis right is subject to the restrictions imposed by federal law (12 C.P.R. 591), as applicable. This covenant shall run wish the Propeny xnd shall remain in effect until the Secured Debt is paid iu full aud_ this Security Instrument is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. 'frustor will' keep the Propeny iu good condition xnd make all repairs that are. reasonably necessary. Trustor shall not commit or allow any waste, impairntenl, or deterioration of the Properly" Trustor will keep the Propeny free of noxious weeds and grasses. J'rustor agrees that the nature of the occupancy and use will not substantially- change without Beneficiary's prior written consent. Trustor will not penult any change iu any license, restrictive covenant or easement without Beneficiary's prior written consent Trustor will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage' to the Property. Beneficiary or 13cneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of inspecting the }?ropeny. Beneficiary shall give Trustor notice at the' tune of or before an inspection specifying a reasonable purpose for..Ute inspection. Any inspection of the' Propeny shall' be ehtirely for' Beneficiary's benefit aud Trusuir will iu ua way rely on Beneficiary's inspection. ' 11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty orauy of'the coveuaufs contained i^ this' Security Ltsttunieut' 13eti"eficiary tiiay, without notice; perfonu brcause their to be performed. 'I`rustor,appoints' Betieficiary•as attorney Diu 1'xcf~to' sign •Trustor's' natne'tir pay'any.iutiount.decessary'`for petfonriance BEnefictary's'' iight'fo peifortn for Trustor shall uol create ati obligation 'to' perform,' and' Beneficiary's failure to perfornt will`'nor preclude Beheficiary front exercising any o1'd3ciiel'iciary's' other rights'-under the law orYhis Security lustruinent."If any, construction `on the Propeny is discontinued or. itot carried ou iii a'reasonable manner; Beneficiary may take all steps necessary to protect Beneficiary's security inlerest~in'the'Rroperty; including completion of the construction. 12. ASSIGNMENT OF`LEASES'AND RENTS. Trustor irrevocably assigns, grants and conveys, to 1'ruslee, in trust for the benefit of Beneficiary as addiiioual security all the right, title and interest in the following (all referred to as Propeny): existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use aud occupancy of the Propeny; including any extensions, renewals, modifications or replacements. (all referred to as Leases); xnd rents, issues aud profits (all referred to as Rents). In the event any item listed as Leases or Rents is detemtiued to be persquxl propeny,. this Assiguineut will also be'- regarded as a "secutily agreement:. Trustor will promptly provide 13eueficixry with topics of the Leases and, will certify these Leases are true aud correct.copies. The existing Leases will be provided on execution. of the Assigtimeut, and all future Leases and any other iufomtation with respect to these Leases will be provided hnmedixtely aRcr they are executed. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in default. Upon default„ 'Trustor•will receive auy.Reuts intrust Cor Beneficiary aud will not conmtingle the Rents with any other funds. Trustor agrees that this. Security. Instrument is htmtedialely effective between Trustor and. Beneficiary and effective as to third. panics on the recording of this Assigmneut. As-long-as. this Assignment is in.,effect, Trustor warrants and represents that no' default exists under the Leases, aud,thepanies subject to-the Leases have not violated any applicable law nu,leases,.licenses.and landlordsand_tenants.. s. ~:;.._...r . ;:;: •. ,. '13,,,LEASEIiOLD$; ,CONDOMINIUMS; .PLANNED. UNIT'DEVELOPMENTS:..1'rustor..;agrees .to c,omply,, .with .the prou!swus of xtiy leau,if tUis Sccurityt:Iustrumeut !s;ou'a leasehold""'If'the Property includes''audit iu'a condominium or a ~,. ! ~ ~planuedsuult deuelopmcnc,: (Trustor willrperPorm,xll of• 1 rustor's duties under the covenants-~.:.by lAVls;-or rEgulAtfops~ of~the • ---coudouiiniwn`or;planncd'uuit developmetil: h' w fJL rL--'~~ ©1994'Bankers Sy3iamd,•Iric., St. Cloud, MN Form RE-DT-NE 1/30/2002 -:-/~. ,.. ~ , !. t.', a. 4J ,I ._ _. !.t ,~. _.-,._...._......._.._ ......... ~~.~.~i., ~l iii;.,, ~: .~ • 02 ~+ ~ ,... . X00"15200 14. DETAULT. Trustor-::wilG,tie ~iu;defaultnif,any~pany;~obligated on the Secured Debt fails to make payment when due. Trustor will be is default if a breach occurs;iunder•the iemtsiof this Security Instrument or any other document executed for the ,, purpose of creating~• securing"onguaranryingeiheSecured Debt. A good fault belief by Beneficiary shat Beneficiary at any tune is insecure with respeGf to:any person'or'entity obligated-:oa•the Secured Debb or that the:prospcctof aay payment or the value of the.Propeny'.is impairedahall~also~constitute'an evenoof default. ~..•.. .. .- ,,. ., ~ „,-, ,. , 15. REMEDIES ON DETAULT: `Ia some iustances~,' -federal. and'; state aaw ,will' require, Beneficiary, to provide ~Tiustor' with notice of the rights to' cure~or'othen notices and may establish three schedules for foreclosure actions. Subject to these limitations, if any',; .Beneficiary may accelerate 'the Secured 'Debt,:aud foreclose this Security Ins[rwneu[ in a' manner provided by law if Trustor is iu defauh. At the option of Beneficiary,, all or any part of the. agreed fees.and charges, accrued interest-and principal shall become htumediately ,due and'ypayable, after giving notice if reyuired bylaw, upon the ~occurreuce of a default or anytime thereafter. In addition;' Beneficiary shall be entitled to all the remedies`provided~ by .law;,'the,`,ierms'of the Secured Debt, this Security instrumeiit.and any related documents, including without Lurtita[ion, the power,to selCfhe Property. If there is a default, Trustee. shall, in addition to any, other permitted remedy, at the reyuest of the Beneficiary, advertise and sell the Property as a whole or in separate parcefs at public auction. to the highest bidder for cash and convey absolute title Pree and clear of'all right; title and'interest of Trustor°at'such thite•aud`place as Trusteddesignates: Trustee-shall give notice of sale including the tune, terms aad place of sale and a description of the property to be sold as reyuired by the applicable law in effect at the time of the proposed sale. ' Upon sale of the Property and to the extent not prohibited by law, Trustee 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 eacuntbrances and interest thereon, and the principal; a~iil interest ou the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property.' The recitals in any'deed of conveyance shall be prhna facie evidence of the facts set forth therein. AI( remedies are disiinc[, chmulative and` not exclusive, and the' Beneficiary is,'eniitled to,all remedies provided at law'or eyuity; `whether or'not expressly 'sef forth 'The' acceptance by Beneficiary 'of any sum`m payment or'panial payiuerit on the Secured Debt After the balahce is 'diie or is'accelerateii"or dite"r foreclosure proceedings Are"filed shall not constitute a waiver`'of'Beneficiary's'rigfit'to req''uire'coniplete'dire of'auy'ezisting''default. By nor'exercisinglany'''rernedy'ou"Trustor`s default., B'edeficiary'does'aiot'waive Beneficiary's right to later considerthe event a defattlt`if'it c''o'ntiniies'o2ltappens again:`' ~' 16. EXPENSES;• ADVANCES°.ON COVENANTS;"'ATTORNEYS' TEES; COLLECTION COSTS. Except wlte^ prohibited by law,'Trustor agrees to pay.all of Beneficiary's expenses if Trustor breaches any covenant iu this Security Instrument. Trustor will also pay on demand any' tunount incurred. by Beneficiary for insuring, inspecting, 'preserving or otherwise protecting the Propeny and Beneficiary's security interest. These expenses will bear interest from the date of Ute payment until paid iu full at the highest interest rate in effect a5 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 Instrument. This amount may include, but is not Luni~ed to, attonteys' 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 ielease. 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et sey.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive. letters concerning the public heahh, safety, welfare, enviromnent or a hazardous substance; and (2) 1-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 enviromnent., The term.inchides, 'without lunitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or"hazardous substaace" under any Environnteutal Law. Trustor represents; warrants and agrees tfiatr ' 'A': Except as previously 'discloseii ands acknowledged iu wriling to Beneficiary, no Hazardous Substance is or..will be "'~~ ~~-located, ~store~~or~released on or iu the Property.' This `Yestriction"does not/apply', to s>nall.quantities'of FIazardous "Shb'stauces thatlare~generally' iecoghizedto 6e appropriate forthe normalnse aud'niaihtenancetof the Propeny; B. Except as' previously.;disclosed. and acknowledged iu writing .io Beneficiary, Trustor and'everyteuant have been,`'are, and shall remain i^ full compliance with any applicable Enviroumental'Law. C. Trustor shall immediately notify Beneficiary if a release or threatened release of a FIazardops Substance occurs ou, under or about'.the Propeny or there is" a violation. of any Euviromnental Law concerning the Property. In such an .event, Trustor shall take all necessary, remedial action iu'accordance with any EnvironutentaL Law. ll. Trustor shall immediately notify, Beneficiary in writing as soon as Trustor has reason to believe there is any pending or threatened iuvcstigation,, claim; 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 eatities'to purchase or take any or all of the Property through condemnation, eminent domain, br any other means. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the above described actions or,.claims. Trustor assigns to Beneficiary the proceeds of"'any award or clann far datuages connected with a condemnation .or other taking of all or any part of the Property. Such proceeds shall be considered payments and .will be applied as provided in this Security Instrument. Phis assigiunent of proceeds is subject'to the terms of any prior mortgage, deed of .trust, security agreement or other lien document. 19. INSURANCE. Trustoe,shall keep Propeny insured against lass by fire, Rood, theft and othee..hazards and risks reasonably associated with the Propeny due to its type and location. This insurance shall be maintained in the amounts and for [he periods that Beucficiary,requires. What Lender requires pursuant to the preceding sentence can change during the teen of the loan. Tltc insurance carrier providing the iasurauce shall be chosen by Trustor subject to' Beneficiary's approval, which shill not be unreasonably;' withheld. If'Trusloc fails 'to' maintain the coverage described above,' Beneficiary ntay, at Benel'icixry's' optiou,'• obtain coverage to protect Beneficiary's rights in the Propeny according. to the terms of this Security Instrument." :. ;. .. .,,, ,. ,.. , .. All insurance policies And renewals shrill be acceptable to Beneficiary aitd`'s$all include a standard."iortgage•clause" arid, where'''ppltcablc. ""'loss payee clause." rrustor shall tittmediately ~noufy Beneficiary oC cancellation' or ienninaiion''of the insurance."'Bctieficiary shalt` tiave 'the' nghr"to hold' the' policies'" and"renewals.' 'If Beneficiary • requires, Trustor shall htmtediately 'give to ~13.eneficiary 'all "receipts''of` paid premiums and `reaewal notices:' Upou loss,''Trustor shall 'give humedixte noticc'to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if hot made u ediately by 'rruslor. , PE'l~ M ©1994 Bankers SystBms, Inc., SL Cloud, MN Form RE-DT-NE 1/30/2002 ~`e~ ~'` .icy Sj n'I' :'1, i~ F,: V/ / 200'75200 ,.~ ,- Unless otherwise agreed. in.writiug, all insurance proceeds strap be applied to the, restoration or repair of the,Property 'tir to the Secured Debt, whether or not thew due, at Beneficiary's option..Auy application, of proceeds to principal .shall not extend, or postpone the due..date; of the scheduled, paymi:nt nor change the' unount of any: pa'ymetit. Auy'excess will be paid to, the"Grantor.. 'If the Property is acyuired.,by }3eueficiary, 1'rustor's riglif to any insurance piilicies and 'proceeds resulting from damage to the Ptopertyt beforc,tlie acyuisiriou shall pass to Beneficiary, to,tlTe, exteut.of,the,Secured Debt umuediately before the acyunitiop ,~> „ ... _ :,. ,, , 20. ESCROW,TOR. TAXES AND INSURANCE Unless' otherwise. provided m a separate agreement, ;'Trustor' will not tie reyuired to pay to,Beneficiary'fuuils fot taxes and rnsurauce in escrow. 21. FINANCIAL REPORTS ANI) ADDITIONAL DOCUMENTS: Trustor will. provide to Beneficiary upon request, any financial statement or iufonnatiou' Beneficiary may deem reasonably accessary. Trustor agrees to sign, deliver, and file any additional docunteuts' or certifications that Beneficiary may consider accessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and Beneficiary's lieu status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO_-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrutueut:are joint and individual. If Trustor signs this Security Instrument. 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 ou the Secured Debt. If this Security Instrument secures a guaranty between 13encficiary and Trustor, Trustor agrees la waive any rights that may prevent Beneficiary from bringing any action or clatrn against. Trustor or any. party indebted under the obligation. 'fhesc tights may include, but are not limited to, any anti-deficiency or one-action laws. "1'ruslor agrees that Beneficiary and any party to this Security .[ustrument may extend, modify or ntxkc any change iu the., terms of this Security Instrument or any evidence of debt without Trustor's consent. Such a change will not release Trustor from the terms of this Security Instrument. The duties and benefits of this Security Iuslruntent shall bind and benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in whidt Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is locxtcd. 'this Security lustruntent is' complete and fully integrated. 'I'bis Security Instrument may not be amended or modified by oral agreement. Any section in this Security Iustrumettt, attachments, or any agreement related to the Secured Debt that coullicts with applicable law will not be effective, unless that law expressly or hnpliedly permits the variations by written agteement. If any section :ofahis Security:Iustrttment cannot be enforced according to its terms, that section will be severed and will not affect the enforceability .oP the remainder of this Security Instrument. Whenever used, the singular. shall, include the plural arid the plural thc.singular.'The captious and headings of the sections of this'Security [nstruntent,are for convenience ,ouly.and,are.,uot to,be,used to interpret cir define .the. terms. of this Security Instrument. 1'irite is.of the essence in this Security lnstrmtient.. 24: SUCCESSOR TRUSTEE. Beneficiary, at 13citePiciary's option, titay fro»t time to thtie remove Trustee and appoint a successor trustee without any other 7orntality than the desigitatiou iu writing. 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 Co any other address designated iu writing. Notice to one trustor will be dcented to be notice to all trustors. 26. WAIVERS. fxcept to the extent prohibited by law, Trustor waives all appraisemeut and homestead exemption rights relating to the, Property. , 27. OTIIER'TERMS. Tf checked, the following are applicable to this Security Ihstrtitnent: ^ 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 unlit released. C(l Cons[i•uction, Loan..'I'his Security [ustrwnent secures au obligation incurred for the construction of au uttprovemeut on the Property. ' ^ Tixture Tiling. Trustor grants to Beneficiary a security interest in all goods that Grantor owns now or in the future and that are or:. will become fixtures related to the Property. This Security Instrruueut suffices as a financing statement and any carbon, pholograpjtic or other reproduction may be filed. of record for purposes of Article 9 of the Uniform Cotmnercial Code. ^ Riders. 1'he coveuarits andagreemehts of each'of fhc`riders checked below are incorporated ,into and supplement.aud amend the terms of this Security" Listrrirtieht. [Check all applicable boxes] ` .. ^ Coudomiitium Rider "^' Plauried UniLbevclopmenC Rider ^' Other .................................................. ^ Additional Terms. j. SIGNATURES: By signing `be(tiw, Trustor agrees to the terms and coveuarits contained iu this Security Instrument and iu any attachments. Trustor also acknowledges receipt of a copy of this Security lastrwnenl on the date stated on page 1. LDCK ER PLAZA ww..~~ ~~ (5 ' to try) J ROGER COFFMAN, ARTNER Nate) (Siyatature) pENNIS F. TOWNS, PARTNER . (Date) ' ACKNOWLEDGMENT:.. , . S1't11'&OF. NEBT3ASKA. ,,,, . .. :.: COUNTY OF ADAMS } ss. ................ r'"~'"'do") Tlus instrument was acknowled ed before me this 2Jth November, 2007 ~. g ....... .... da of ..... ,,.. ; ., .. ,... ...... by,.,J.: Roger .Coffman..and; . Occults, . F, .. Towns-, ~ ;Partners of Clock Tower Plaza " "' ' My conuui ~ ' ;GENERAL NOTARY-.$tate of.Nebraska 1 ~--~~I-7 1 ~J~3-t~~~17 :. •: DAWN BALDWIN t ................................ - .. My Comm. Expires Aug. 19, 2009 ~ ~ ~ ~ ~(No~~y Pm,t;2) ~J2i' x ©1994 Bank orm - -NE 1/30/2002 /page 4 of 4/ ,r'.,r;at;,,N.,;~ .o,,~