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ADAMS COUNTY, NE
FILED
INST. N0. 200'75343
Date/2 6 -~7 Time~n'I
TER OF DEEDS
Stale of Nebraska Space Above This Line For Recording Data
Order #: 13477022 REAL ESTATE DEED OF TRUST
ALS #: '.~~~~ q 3 (150 (With Future Advance Clause)
_1 ~ Construction Security Agreement
1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is 11/02/2007
and the parties, their addresses and tax identification numbers, if required, are as follows:
TRUSTOR: MICHAEL NELSON AND AMY NELSON HUSBAND AND WIFE
^ If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and
acknowledgments.
TRUSTEE: U.S. Bank Trust Company, National Associaion
1850 Osborn Avenue
Oshkosh, WI 59920
BENEFICIARY: U.S. Bank, National 'Associaion N.D.
4325 17th Avenue S. W.
Fargo, ND 58103
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:
The real estate deed of trust herein is described in Exhibit "A" which is attached hereto and hereby incorportated
herein by reference.
The property is located in ADAMS 1006 N ADAMS
........................ at ...............................................................................
(County)
............................................................. UNIATA ......................, Nebraska .fi8.95S...............
1 .........................
(Address) (City) (ZIP Code)
Together 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 time in the future, be part of the real estate described above (all referred to as "Property").
NEBRASKA -HOME EQUITY LINE OF CREDIT DEED OF TRUST (NOT FOR FNMA, FHLMC, FHA OR VA USE)
F 7~r ~ _ 1994 Bankers Systems, Inc., st. CIOUQ MN Form USBOCP.DT-NE 9/5/2001
13477022 (Page 1 0l 6)
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3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall
not exceed $ 13 :981:00 ,,,,,,,,,,,,,,,,,,,,,,,,,,, ,This limitation of amount does not include interest and other fees
and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under
lire terms 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 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:-'(You must speci6caJ/y identify the debt(s)
secured and you should include the frnal maturity date ofsuch debt(s).)
Borrower's Name(s): MICHAEL NELSON AND AMY NELSON
Note Date: 11/02/2007 Maturity Date: 11/15/2032
Principal/Maximum 13,981.00
Line Amount:
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 Instrument whether or not this Security Instrument 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 or 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 ollrer future obligations are secured as if'made on the date of this Security
Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or
advances in any amount. Any such commitment must be agreed to in a separate writing.
C. All other obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law,
including, but not limited 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
tl~e Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this
Security Instrument.
In the event that Beneficiary fails to provide any necessary notice of the right of rescission with respect to any additional
indebtedness secured under paragraph B of this Section, Beneficiary waives any subsequent security interest in the
Trustor's principal dwelling that is created by this Security Instrument (but does not waive the security interest for the
debts referenced in paragraph A of this Section).
5. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
Secured Debt and this Security Instrument. If Trustor breaches any covenant in this section, Beneficiary may refuse to
make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Trustor's breach,
Beneficiary does not waive Beneficiary's right to later consider the event a breach if it happens again.
Payments. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
terms of the Secured Debt'and this Security Instrument.
Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that
created a prior security interest or encumbrance on the Property, Trustor agrees to make all payments when due and to
perform or comply with all covenants. Trustor also agrees not to allow any modification or extension of, nor to request
any future. advances under any note or agreement secured by the lien document without Beneficiary's prior written
approval.
Claims Against Title. Trustor will pay all taxes (including any tax assessed to this Deed of Trust), assessments, liens,
encumbrances, lease payments, ground rents, utilities, and other charges relating to the Properly when due. Beneficiary
may rec)uire 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
Instrument. 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.
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 deterioration of the Properly.
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, claims, and actions against Trustor, and of
any loss or damage to the Property.
13477022 (page 2 o76J
F~/~~ _ 1994 Bankers Systems, Inc., St. Cloud, MN Form USBOCP-OT-NE 9/5/2001
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BeneFiciarx or Beneficiary's aggents may, at Beneficiary's option, enter the
of inspecting the Property. Beneficiary shall give Trustor notice at the
reasonable purpose for the inspection. Any inspection of the Property
Trustor will in no way rely on Beneficiary's inspection.
Property at any reasonable time for the purpose
time of or before an inspection specifying a
shall be entirely for Beneficiary's benefit and
Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this Security Instrument,
Beneficiary many, without notice, .perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact
to sign Trustor s name or pay any amount necessar 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.
Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions of any lease if
this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a-planned unit development,
Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned
unit development.
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 Property through condemnation, eminent domain, or 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 claim for damages connected with a condemnation or other taking of all or any
ppart of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security
Iilslrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or
other lien document.
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 insurance shall be maintained in the amounts and for the
periods that Beneficiary requires. 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 maintain the coverage described
above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property according
to the terms 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 immediately'nolify Beneficiary of cancellation or termination of the
insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall
immediately give to Beneficiary all receipts of Paid premiums and renewal notices. Upon loss, Trustor shall give
immediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made immediately by
Trustor.
Unless otherwise agreed in writing, 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. Any application of proceeds to principal shall not
extend or postpone the due date of the scheduled pa ment nor change the amount of any payment. Any excess will be paid
to the Trustor. 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 immediately
before the acquisition.
Financial Reports and Additional Documents. Trustor will provide to Beneficiary upon request, any financial statement
or information 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 Trustor's obligations
under lllis Security Instrument and Beneficiary's lien status on the Property.
WARRANTY OF 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.
DUE ON SALE. 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, a transfer or sale of the Property. This riglit is subject to the
restrictions imposed by federal law (12 C.F.R. 591), as applicable.
8. DEFAULT. Trustor will be in default if any of the following occur:
Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt that
is an open end home equity plan.
Payments. Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to make a payment
when d'ue.
F _ 1994 Bankers Systems, Inc., St. Cloud; MN Fonn USBOCP-DT-NE 9/5/2001
3~ 7
13477022 (page 3 of 6J
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20075343
Property. Any action or inaction by the Borrower or Trustor occurs that adversely affects the Property or Beneficiary's
rights in the Property. This includes, but is not limited to, the following: (a) Trustor fails to maintain required insurance
on the Property; (b) Trustor transfers the Property; (c) Trustor commits waste or otherwise destructively uses or fails to
maintain the Property such that the action or inactron adversely affects Beneficiary's security; (d) Trustor fails to pay taxes
on the Property or otherwise fails to act and thereby causes a lien to be filed against the Properly that is senior to l e lien
of this Security Instrument; (e) a sole Trustor dies; (f) if more than one Trustor, any Trustor dies and Beneficiary's
security is adversely afI'ecled; (g) the Properly is taken through eminent domain; (h) a judgment is filed against Trustor and
subjects Trustor and the Property to action that adversely affects Beneficiary's interest; or (i) a prior lienholder forecloses
on the Property and as a result, Beneficiary's interest is adversely affected.
Executive Officers. Any Borrower is an executive officer of Beneficiary or. an affiliate and such Borrower becomes
indebted to Beneficiary or another lender in an aggregate amount greater llian the amount permitted under federal laws and
regulations. ~"
9. REMEDIES ON DEFAULT. In addition to an other remedy available under- the terms of this Security Instrument,
Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Trustor
is in 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. Each Trustor requests a copy of any notice
of default and any notice of sale thereunder be mailed to each Trustor at the address provided in Section 1 above.
At the option of the Beneficiary, all or any part of the agreed fees and charges, accrued interest and princi al shall become
immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime
thereafter.
If there is a default, Trustee shall,. at the request of 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 time and place as Trustee designates. Trustee shall give notice of sale including the time,
terms and place of sale and a description of the property to be sold as required 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 encumbrances and interest
thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may
purchase the Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein.
The acceptance by Beneficiary of any sum in pa ment 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 the event a default if it happens again.
10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Trustor breaches
any covenant in this Security Instrument, Trustor agrees to pay all expenses Beneficiary incurs in performing such
covenants or protecting its security interest in the Property. Such expenses include, but are not limited to, fees incurred for
inspecting, preserving, or otherwise protecting the Properly and Beneficiary's security interest. These expenses are payable
on demand and will bear interest from the date of payment until paid in full at the highest rate of interest in effect as
provided in the terms of the Secured Debt. Trustor agrees to pay all casts and expenses incurred by Beneficiary in
collectin enforcing or protecting Beneficiary's rights and remedies under this Security Instrument. This amount may
include, ~ut is not limited to, Trustee's fees, court costs, and other legal expenses. To the extent permitted by the United
States Bankruptcy Code, Trustor agrees to pay the reasonable attorneys Fees Beneficiary incurs to collectlhe Secured Debl
as awarded by any court exercising jurisdiction under the Bankruptcy Code. Thfs Security Instrument shall remain in effect
until released Trustor agrees to pay for any recordation costs of such release.
ll. 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 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; and (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 limitation, any substances defined as "hazardous material," "toxic substances,"
"hazardous waste" or "hazardous substance" under any Environmental Law.
Trustor represents, warrants and agrees that:
A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be
located, stored or released. on or in the Property. This restriction does not apply to small quantities of Hazardous
Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property.
13477022 (Page 4 of 6)
~t _ 1994 Bankers Systems, Inc., St. Cloutl. MN Form USBOCP-UT-NE 9/5/2001
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200'75343
B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have been, are,
and shall remain in full compliance with any applicable Environmental Law.
C. Trustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on,
under or about the Properly or there is a violation of any Environmental Law concerning the Property. In such an
event, Trustor shall take all necessary remedial action in accordance with any Environmental Law.
D. Trustor shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending
or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous
Substance or the violation of any Environmental Law. '
12. ESCROW POR 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.
13. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS~BOUND. All duties under
this Security'Instrument 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 on the Secured Debl. If this Securityy Instrument secures a guaranty between
Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficia from bringing any action or claim
against Trustor or any party indebted under the obligation. These rights may include, but are not limited to, any
anti-deficiency or one-action laws. The duties and benefits of this Security Instrument shall bind and benefit the successors
and assigns of Trustor and Beneficiary.
14. SEVERABILITY; INTERPRETATION. 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 permits 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. Time is of the essence in this Security Instrument.
I5. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time 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 Instrument and
applicable law.
I6. 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 in writing.
Notice to one trustor will be deemed to be notice to all trustors.
17. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights
relating to the Property.- '
18. LINE OP' CREDIT. The Secured Debt includes a revolving line of credit Although the Secured Debt may be reduced to a
zero balance, this Security Instrument will remain in effect until released.
19. APPLICABLE LAW. This Security Instrument is governed by the laws as agreed to in the Secured Debt, except to llle
extent required by the laws of the jurisdiction where the Property is located, and applicable federal laws and regulations.
20. 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]
^ Assignment of Leases and Rents ^ Other .............................................................................................
21. ^ CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation
incurred for the construction of an improvement on the Property.
22. ^ADDITIONAL TERMS.
Ej(~/~' _ 1994 Bankers Systems, Inc.. St. Cloud, MN Form USBOCP~DT~NE 9/5/2007
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13477022 (page 5 0/ 6)
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200'75343
SIGNATURES: By signing below, Trustor agrees to the terms and cove ants contained in this Security Instrument and in any
attachments. Trustor also acknowledges receipt of a copy of this Security strument on the date stated on page 1.
ACKNOWLEDGMENT: //~~
STATE OF .....~ ~ ................................... COUNTY OF .....!`1~_ r,~'~cJ........................} ss.
pnamiaaal) This instrument was acknowledged before me this .......~,~.......... day of ...loll?:1(.~'h'Kh~D~2.:1~....G.:~~..
by .MICHAEL,NELSON AND AMY NELSON
...................f ............... ........................^...............:................
My commission exptres~ 22~ 20" / 7,
................/1.:.. ................ a .~.. I.l.:~.~~~..
(Signature) MICHAEL NELSON (Date) (Signal (Date)
AM NELSON
I. ~~
MARGARET M. ZECKSER
General Notary
StOt6 of Nebraska
MYCarttttiebn Expires Aug 22, 2W9
When recorded return to:
Firsf American Title Insurance Company
Lenders Advantage
1100 Superior Avenue, Suite 200
Cleveland, OH 44114
This document prepared hy:
First American p ilpe Insurance Company
Lenders Advantage
1100 Superior Avenue, Sulte 200
Cleveland, OH 94119
F~~ .1994 Bankers Systems, Inc., 5[. Cloud, MN Farm USBOCP-OT-NE 9/5/2007
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13977022
(page 6 07 6J
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EXHIBIT A
SITUATED IN THE COUNTY OF ADAMS AND STATE OF NEBRASKA:
LOTS 394, 395, 396, 397, AND '398, VILLAGE OF JUNIATA, ADAMS
COUNTY NEBRASKA.
Permanent Parcel Number: 116-800.11
MICHAEL D. AND AMY B. NELSON
1006 NORTH ADAMS, JUNIATA NE 68955
Loan Reference Number 20073050931460/3000593450
First American Order No: 13477022
Identifier: FIRST AMERICAN LENDERS ADVANTAGE
~~~~~~~~~~~~~~~~~~~~~~~ .NELSON
113477022 R;'° °NE
FIRST RMERICpN LENDER5 RDVAN7RGE
DEED OF TRUST
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