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HomeMy WebLinkAbout20075292IiI~N~~VI~YIN~N' ~° „ - inn.w2~pE~L15292 1. NUM ~'.Qe~P/.~~A. ~,se~ ~~ RD. COMP ~ ~/ ~-'~/ COMPARE ~! CADAS ~' AO r Date/ -y-n ~ Time q; ~~ ~~ REGISTER'OF DEEDS ' Stete of Nebraska Space Above Thfs Llne For Recording Data DEED OF TRUST (With Future Advance Clause) ^ Construction Security Agreement ^ Master form recorded by ............................. .. _ .. _., DA'I'E'AND'PARTIES:`The-date'bf'this Deed of Trust (Security Iitstrwueut) is ..................11;262007;`,,;;,,,,;;';,,.;,, and the parties, their addresses and tax identification numbers, if required, are as follows: TRUSTOR; DENISE D. JOHNSON ANG STEVEN L. JOHNSON, HUSBAND AND WIFE 815 NORTH 4TH AVE. HASTINGS, NE 68901 ^ If checked, refer to the attached Addendwn incorporated herein, for additional Trustors, their signatures and acknowledgtneuts. TRUSTEE: gpNK OF OONIPHAN P.O. BOX 270 DONIPHAN,NE 66832 BENEFICIARY: BANK OF DONIPHAN ORGANIZED ANG EXISTING UNGER THE LAWS OF THE STATE OF NEBRASKA P O BOX 270 OONIPHAN, NE 88832.0270 2. CONVEYANCE. Por good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined below) and Trustor's perfonuance under this Security Instrument, Trustor irrevocably grants, conveys and sells to Trustee, iu trust for the benefit of Beneficiary, with power of sale, the following described property: LOT TEN It0), BLOCK TWO 121, WESTLAND FIRST ADDITION TO THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA, ACCORDING 70 THE RECORDED PLAT THEREOF The property is located iu ..............................ADAMS............................... at 6?5 NORTH 4TH,AVE.,,,,,,,,,,,,,,,,,,,,,,,,,, (County) ............................................................. .....................HASTING;a...................., Nebraska .........B.dBG?......... (Address) (City) i" (ZIP Code) Together with all rights, easements, appurtenances, royalties, ntiueral rights, oil and gas rights, all water and riparian rights; ditches;-and-water stock- and all existing and future improvements,-sttuctures, fixtures, and replaceuteuts that may now, or at any time iu the future, be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIMTT. The total principal atuouut secured by this Security Instrument at any one thue shall not exceed $ 1;i,gpq.p,Q ..........................................This liutitatiou of atnouu[ does not include interest and other fees and charges validly made pursuant to this Security htstrwneut. Also, this lintitatiou does not apply to advances made under dte teens of tltis Security Instrument to protect Beneficiary's security and to perfontt any of the covenants contained in this Security Lts[rwneut. 4. SECURED. DEBT AND FUTURE ADVANCES. The teen "Secured Debt" is defined as follows: A. Debt incurred under [he teens of all promissory note(s), .contract(s), guaranry(s) or outer evidence of debt described below and all their extensions, renewals, modifications or substitutions. (W7ten referencing t/le debts below it is satggested that you it:clude items such as borrowers' Hanes, note amorous, interest rates, maturity dates, etc.) PROMISSORY NOTE OATE011I26107 AT AN INTEREST RATE OF 8.00°,5 IN THE AMOUNT OF S 14,000 NEBRASKA • DEED OF TRUST (NOT FOR FNMA, FHLMC, FHA OR VA USE) 2rt" ®1994 Bankers Systems, Inc., Si. Cloud, MN Form RE-DT-NE 1/30/2002 /page 1 of 4/ ~N~ 0 "' NUM PGS~ DOC TAX..~_tCK#.. FEES~P ~ S ~'CK#~ CHG ACCT# ~, ., i ii~t ...- li.i B.;,A1t; future advanC~s from Beneficiary to Trustor or other future obligations of Trustor, to .Beneficiary; under,-ang-•-: ppromissory no'e, contract, guaranty, or other evidence of debt executed by Trustor iti favor of ~etieficiary' after. this R , ti _,, ., ., }'Security Itlstrutnent `vVhether or not this Security Instrwneu[ is specifically referenced.-If~ntorethau'one-person signs ' ".. tliis)Secunty'Ltstruitient, each Trustor.agrees-t1taG•this-~ecurity~dtistrumeut will secure:all„future :,advances.and;:future ' f';°,;'~l;,,bbligatidi15',;that;~ke given to or incurred by any one or more;.Trustor, or any one or more Trustor and others. All future advances and other future obligations"'are'securetl'by this' Security Instrument even though all or part may not yeLbe advanced. All future advances and otltei future obligatioits;.are'secured as if made on the date of this Security Instrwment. Nothing- in this Security "Iiis'tiiuiient s1ialCcoiistitute a conmtiuneut to make additional or future loans or advances. in any amount. Any such conunittuent,ii'ust_l?e ag;Fed,to; iti aseparate writing. C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but not (united to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary. D. All additional scans advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting the Property and its value and any other swus advanced and expenses incurred by Beneficiary under the teens of this Security Instrwnent.. 'this Security. Ins[rwneut.;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 paynten[s under the Secured Debt will be paid when due and in accordance with the terius of the Secured Debt and this Security Instrument. 6. WARRANTY OF TTTLE. 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 eucwnbrances of record. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lieu document that created a prior security interest or encumbrance on the Property, Trustor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly,deliver to Beuefici~ry any notices that.Trustor receives from the holder. C. Not to allow auy.modificatio^ or extensiat of, nor to request any future advances under any .note or agreement secured by the lien document without Beneficiary's prior written consent. 8. CLAIMS.AGAINST TITLE.. Trustor will pay all taxes, assessments, liens, encwnbrauces, lease payments, ground rents, utilities, and otlter charges relating to the Property when due. Beneficiary Wray 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 the lien of this Security Instrwneut. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor . or materials to maintain or improve the Property. • 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be immediately 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 unposed by federal law (12 C.F.R. 591), as applicable. This covenant shall rwt with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released. 10. PROPERTY CONDTTION, ALTERAi'IONS AND INSPECTION. Trustor will keep the I'roperry in good condition and make all repairs that are reasonably necessary. Trustor shall not conunit or allow any waste, iutpairutent, or deterioration of the Property. 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 easement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands, proceedings, clams, and actions against Trustor, and of any loss or dunage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable tune for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a teasottable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will iu no way rely on Beneficiary's inspection. 11. AUTHORTTY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security Ltstrmuent, Beneficiary may, without notice; perform or cause them to be performed. Trustor appoints Beneficiary as atlorncy in fact to sign Trustor's Warne or pay any uvount necessary for performance. Beneficiary's right to petforni for Trustor shall not create an obligation to perform, and Beneficiary's failure to perfomt will not preclude Beneficiary from exercising any of Beneficiary's otlter 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 Propery, including completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, iu 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 (cases, 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 [o as Leases); and rents, issues and profits (all referred to as Rents). Iu the event any item listed as Leases or Rents is determined to be personal property, this Assigtmtent 'will 'also be regarded as a security agreement." Trustor will proinptly 'provide Beneficiary with copies of the Leases acid will certify these Leases are true and correct copies. The existing Leases will be provided on execution of the Assigtmtent, and all future Leases and any other information with respect to these Leases will be provided iuuncdiately after they are executed. Trustor may collect, receive, enjoy and use We Rents so long as Trustor is not iu default. Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle the Rents with any other funds. Trustor agrees that this Security Instrwment is immediately effective between Trustor and Beneficiary and effective - as to third parties on the recording of this Assigtmtent. As long as this Assigwnent is in effect, Trustor warrants and represents that no default exists under the Leases, and the parties subject [o the Leases have not violated any applicable law on leases;•licenses and landlords and tenants: 13. LEASEHOLDS;,. CONDOMINIUMS; .PLANNED UNTT DEVELOPMENTS. Trustor agrees to 'comply with the provisions of: any lease if his Security Instrument is on a leasehold. If the Property includes a unit in a coudominiwn or a planned unit development, Trustor will perfomt all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned unit development. -Ert~ ©1994 Bankers Systama, Inc., St. Cloud, MN Form flE-OT-NE 1/30/2002 (page 2 of 4) a~s~ /:. I;~ ~. yg 20075202 14. DEFAULT.. Trustor will be in default if any party obligated ou the Secured Debt fails to make payment when due. Trustor will be.in default if a breach• occurs under the terms of this Security Instrwneut or any other document executed for the purpose of creating, securing or guarantying' [1te Secured Debt. A good faith belief by Beneficiary that Beneficiary at any time is-insecure with respect to any person or entity obligated- ou the Secured Debt or that the prospect of any payment or Ute value of UteProperty is impaired shall also constitute au even[ of default. ' ' ' 15. REMEDIES ON DEFAULT. Iu 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 ' [hue schedules for- foreclosure actions. Subject to these limitations, if any, Beneficiary may accelerate [he Secured Debt and foreclose this Security Instrument in a manner provided by law if Trustor is in default. At the option of Beneficiary, all or any part of [he agreed fees and charges, accrued interest and principal shall become • htititediately due and payable, after giving notice if required by law, upon .the occurrence of a default or anytnne thereafter. Iu addition, Beneficiary shall be entitled to alt the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any related docuuteuts, including without limitation, the power to selLfhe Property. If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the -Beneficiary, advertise and sell the Property as.a whole or iu 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 thne and.place as Trustee desigttates.:..Trustee'shall give notice of sale including the time, tenus and place of sale and a description' of the property to be sold as required by the applicable law itt effect at the titue of the proposed sale. Upon sale of the Property attd to the extent not prohibited by law, Trustee shall make and deliver a deed [o the Property sold which conveys absolute title to Ute purchaser, and after first paying all fees, charges and costs, shall pay to Beneficiary all moneys advanced for repairs, taxes, insurance, liens, assessnteuts and prior eucuntbrauces and interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary Wray purchase the Property. The recitals in any deed of conveyance shall be prhua facie evidence of [he facts set forth therein. All remedies arc distinct, cmnulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Beneficiary of any sum iu 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 .of any .existing default. By not exercising any. remedy on Trustor's default, Beneficiary does not waive Beneficiary's right to later consider [he event a default if it continues 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 iu this Security Instrument. Trustor will also pay on demand any atuouut incurred. by Beneficiary for insuring, inspecting, preserving or otherwise protecting the Property and 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. iu the terms of the Secured Debt. Trustor agrees to pay all costs and expenses incurred by Beneficiary iu collecting, enforcing or protecting Beneficiary's rights and remedies under this Security Iustrmuent. Tltis uuount may include, but is not Ihnited to, attorneys' fees, court costs, and other legal expenses. This Security Iustrmueut shall remain iu effect until released. Trustor agrees to pay for any recordation costs of such release. 17. ENVIRONMENTAL LAWS AND HAZARDOUS. SUBSTANCES. As used in this section, (I) Envirouuteutal Law means, without lhnitatiou, the Contpreheusive Envirotmtental Response, Contpensa[iou and Liability Act (CERCLA, 42 U.S.C. 9601 e[ seq.), and all other federal, state and 'local'laws,'regula[ious; ordinances, court orders; attoritey'general opinions or interpretive letters coucerniug the public health, safety, welfare, euvirountent or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or coutuuiuant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or envirotwtent. The teen includes, without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Euviromueutal Law. Trustor rep~eseuts, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing to Beneficiary, uo Hazardous Substance is or will be located, stored or released ou or iu the Property. This restriction does not apply to small quantities of Hazardous Substances.that are generally recognized [o be appropriate for the nonual use and maiutettauce of the Property. B. Except as previously disclosed and acknowledged iu writing to Beneficiary, Trustor and every tenant have been, are, and shall remain iu full compliaucewitlt any applicable Euviromueutal Law. C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous. Substance occurs on, under or about the Property or tltere.is a violation of any Euviromueutal Law coucerniug the Property. Iu such an event,. Trustor shall take all necessary remedial action in accordance with any Euvirottmeutal Law.. D. Trustor. shall inmtediately notify Beneficiary iu writing as soon as Trustor has reason to believe there is any peudiug or threatened investigation, clann, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Euviromueutal Law. 18. CONllEMNATION. Trustor will give Beneficiary prompt notice of any peudiug or threatened action, by private or public entities to purchase or take any or all of the Property tluough coudentuation, eminent domain, or any other means. Trustor authorizes Beneficiary to intervene iu Trustor's name iu any of the above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award or clams for damages 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 Iustrmucnt.This~assigmuent of proceeds is.subject to the:4enus-of anypriormortgage, deed o8 trust; security~agreemeut~or outer lice docmueut. 19. INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This iusurauce shall be maintained iu the amounts and for the periods that Beneficiary requires. What Lender requires pursuant to the preceding sentence eau change during the tenu of the loan. The 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 ntaiutaiu the coverage described above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights iu the Property according to the ternts of this Security Ltstrmucnt. 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 bmediately notify Beneficiary of cancellation or terntination of the insurance. Beneficiary shall have the right to hold the policies ~. and renewals. If Beneficiary requires, Trustor shall inuuediately give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor shall give immediate notice to the iusurauce carrier and Beneficiary. Beu~tciary may make proof of loss `iftot made hmmediately by Trustor. +d$3u ~ i, + it. ~ N ,y r )i `+{', ~ ' '~ ~ /Page 3 of 41 t~ o ' ~ ~M ©7994 6ankars Systems, Inc., St. Cloud, MN Form FE-DT-NE 1/30/2002 +~ r -~ "~' ' s " R -' ......,,..~ .,.. ,...,:..w ... .. ...... ..........7 -wn 3 ~'~ rt ~d,~:.,w ,~(.._; 20'75292 'Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of Ute Property or to the Secured Debt, whether or. not then due, at Beneficiary's option. Auy application of proceeds.to principal shall no[ extend or postpone the due date of the scheduled payment nor change the azmount of any paymeut. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Trus[or's right ro any insurance policies and proceeds resulting .from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Utiless otherwise provided iu a separate agreement, Trustor will not be required to pay [o Beneficiary funds for taxes and insurance iu escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or iufonmatiou Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional docmments or certifications that Beneficiary may consider accessary to. perfect, continue, and preserve .Grantor's obligations under this.Security Iustrunteut and Beneficiary's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGN$`BOUND. All duties under this Security Instrument arc joint and individual. If Trustor signs this Security htstruuteut but does not sign au evidence of debt, Trustor does so otily to mortgage Trustor's interest in the Property to secure paymeut of the Secured Debt and Trustor dots not agree to be personally liable ou the Secured Debt. If this Security Iustrumevt secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Trustor or any parry indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security Instrument may extend, modify or make any change in the teens of this Security Instrwmeut or any evidence of deb[ without Trustor's consent. Suclt a change will not release Trustor from the tents of this Security Iustrmnent. The duties and benefits of t(tis Security Instrument shall bind and benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Iustnuneut is governed by the laws of the jurisdiction iu 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 Ittstrumeut Wray no[ be amended or modified by oral agreement. Any section in this Security Instrument, attachnents, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, utiless that law expressly or intpliedly permits the variations by written agreement. If any. section of this Security Ltstrument cannot be enforced according to its teens, 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 captious and headings of the sections of this Security Instrment are for convenience otily and are not to be used to interpret oY define the tents of this Security Instrument. Time is of the essence in this Security. Instrument. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to tithe remove Trustee and appoint a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Ltstrmnent and applicable law. 25. NOTICE. Utiless 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 in writing. Notice to one trustor will be deemed to be notice to all [rus[ors. 26: WAIVERS. 'Except to the `exten[`~prohibited by law, 'Trustor waives all appraisemeut and homestead excerption rights rclatittg to the Property. 27, OTIIER TERM5. If checked, the following are applicable to t-ris Security Iustrmneut: ^ Line of Credit. The Secured Debt includes a revolving line of credit. provision. Although the Secured Debt may be reduced to a iero balance, this Security Instrument will remain in effect mail released. ^ Construction Loan. This Security Instrmment secures au obligation incurred for the cotrstructiou of an improvement ou the Property. ^ Fixture Filing. Trustor grants to Beneficiary a security interest iu all goods that Grantor owns now or iu the future and that are or will become fixtures related to the Property. This Security Instrutmeut suffices as a financing statement and any carbon, pho[ograplric or other reproduction may be filed of record" for purposes of Article 9 of the Uniform Commercial Code: - .. ' ^ Riders: The covenants :iitd agreeiiietits'of each of the riders checked below are incorporated, into and, supplement and upend the teens of tltis.Security Lrstruinenf. [Check all applicable boxes] ^ Coudomiuimn Rider ^ Planned Unit Development Rider ^ Other .................................................. ^ Additional Terms. SIGNATURES: By signing below, Trustor agrees to the teems and covenants coinaiued iu this Security Iustrmneut and iu any attachments. Trustor also acknowledges receipt of a copy of this Security Instrmment ou the date stated ou page 1. ..~. ~~.. (Si azure) DENISE ~. JOHN N (Date) (Signature) STEVEN L. JOHN (Date) ACKNOWLEDGMENT: , . STATE OF f~E6PASKA ..................................... COUNTY OF A4AMS.............................................} ss. tt'ai"~"'~t 'Thi's' instrument was acknowledged before me this ........287H ....... day of ................ N4VEMBFA,.2D0.7, , , , , ...... , ..... by P.ENISE.D,J.4Hf~S4N;.STEV.EN.L:.JDHNS4N,HUS13AN4ANRWlFE ......................................................................... . My conmii 'oar ex sires: oZ-S ~/ // GENERAL NOTARY-State of Nebraska • • • • • • • ~~`~~'/`~ .~ ...:................... DyYE((B!~0R~fI7fAmtnJ[.,~~BAuuRhhTUNg~E1K1 (Notazy Poblic) ~,~; ©1994 Ba In~SC'Cl9lltl~FRSt~~R2'DT-N tiaoizooz /page 4 of 41 ~~