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HomeMy WebLinkAbout20075396NUM PGS~_ DOC TA9X~~_,~ CK# FEE`.,'! V ~,~IP ` Sd CK#-~2'~0°j) CHG ACCT # RETFEES:_CA r._R.O.D~cK#_= RECD k~rr - ' RETURN B f -);aa s NL= ~O89o I IIVII4IGI~DII~IAIIVIIIII NUM RD. COMP .~ ~ „7 ,:// COMPARE ~/ CADAS ~ AO.~~ _ ADAMSFIDLED~~ NE INST; N0.__~~ ~ 3 9 ~ok~ QatB - .Z / ~ 07 Time .~ : O!/dl'1 `, TER OF DEEDS Stele of Nebraska Space Above This Llne For Recording Data DEED OF TRUST ; (With-Future Advance Clause) ;~ ^ Construction Security Agreement ^ Master form recorded by ............................. 1: DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is ..................?2.07.2007,,,,,,,,,,,,,,,,,, and the parties, their addresses and tax identification nmube~s, if required, are as follows: TRUSTOR: DEAN R. MOSIER ANO ALYCE A. MOSIER, HUSBAND AND WIFE 422 S BELLEVUE HASTINGS, NE 66901 ^ If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and ackuowledgtneuts. TRUSTEE: BANK OF OONIPHAN P 0 BOX 270 DONIPHAN, NE 88832 BENEFICIARY: BANK OF DONIPHAN ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF NEBRASKA P D BOX 270 DDNIPHAN,NE 688320270 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 perfonuauce 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 ONE HUNDRED TWENTY 11201, RAILROAD ADDITION TO THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA, ACCORDING TO THE RECORDED PAT THEREOF The property is located iu .............................. AAAMS............................... at 422 S,BELLEVUE............................... (County) ............................................................. .....................HASTING,S...................., Nebraska .........8.88P?......... (Address) (City) / (ZIP Code) Together with all rights, casements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock and all existing and future huprovemeu[s, structures, fixtures, and replacements drat may now, or at any thne in the future, be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIMTT. The total principal autouut secured by this Security Instrument at any one time shall not exceed $ 1G.3,G,gq.,gq :........................................This lhuitatiou of atuount does not include interest and other fees and charges validly made pursuant to this Security Iustruureut. Also, this liuritatiou does not apply to advances wade under the [anus of this Security Iustrmneut to protect Beneficiary's security and to perfonu any of Ure covenants contained iu this Security Instnunent. 4. SECURED DEBT AND FUTURE ADVANCES. The tens "Secured Debt" is defined as follows: A. Debt incurred under the [anus of all promissory note(s), contract(s), guaraury(s) or other evidence of debt described below and all their extensions, renewals, modifications or substitutions. (Wlte~i referencing the debts below it is suggested that you inclltde items such as borrowers' names, note tunaunts, interest rates, nutturity dates, etc.) PROMISSORY NOTE DATED 121712007 ANO MATURING 810712008 .NEBRASKA -DEED OF TRUST (NOT FOR FNMA, FHLMC, FHA OR VA USE) ~/~ /Page 1 of 1 F ~e~M ©1994 Bankers Systems, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 6 / ~t s~'I ,~'Tit!ifi~? ~ ~714ti _. _. - - .~t0~1 J?i°! -` . 20.0,5.3-9 •_,,,,,,;B.,A~JI~iTture4advance~}frpm Beneficiary to Trustor or other future obligatious of...Trustor to Beneficiary ~uitder any promissory cote, i:outract, guaranty, or other evidence of debt executed by Trustor in favor;.of:Beueficiary-after this ~k»'.,~~;;;rJ SecurjtyAIi3strg~~i~u;,}~h~ther or not this Security Instrument is ,specifically referenced. If more than one person signs this ~~curit~ Iitstnutient~ each Trustor..agrees.that-this~Security lustruntent will secure all'futui•e'advauces and future a ~~ a~t~~tiglpg~that;a5eagiven to or incurred by auy one or more Trustor, or auy one or more Trustor and others. All future advances and other future obligations-ai`e`secuceil'by this Security Instnunent even though all or part may not yet be advanced. All, future advances and o[lter future~,obligatio~is are secured as if made on [he date of this Security Ltstnuneut. Nothing iu this Security'liis[raiiieut=sli"aIl co~>sti[ute a conuuitment to make additional or future loans or advances iu any amount, Any such conuuiuneut:uiusi+be.agreed-to'ima'separate writing. C. All obligatious 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, preser4iug or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this Security Instrmnent. This Security Instrmneut will not secure auy 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 terms of the Secured Debt and this Security I»strument. 6. WARRANTY OF TITLE. Trustor warrants [hat Ttstor is or will be lawfully seized of the estate conveyed by this Security Instrument and has the right to irrevocably gran[, convey, and sell [he Property to Trustee, iu trust, with power of sale. Trustor also warrants that the Property is unencumbered, except for encmnbrauces of record. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust; security agreement or other lien docmuent 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 that Trustor receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien docutuent without Beneficiary's prior written consent. 8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, [lens, encumbrances, lease payments, ground rents, utilities, and other charges relating [o the Property when due. Beneficiary may require Ttustot [o 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 clanns that would impair the lien of this Security Instrmuent. 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 nnmediately due and payable upon the creation of, or contract for the creation of, any lieu, eucmnbrauce, transfer or sale of the Property. This right is.subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with the Property and shall remain iu effect until the Secured Debt is paid iu full and this Security Iustrmnent is released. 10., PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property iu good condition and snake all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impainneut, 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, claims, 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 three for the purpose of i1>spectiug the Property. Beneficiary shall give Trustor notice at .the tiute of or before au 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 perfonu any duty or any of the covenants contained iu this Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact to sign Trustor's mute or pay any amount necessary for performance. Beneficiary's right to perform for Trustor shall not create au obligation to perfonu, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security Ius[tmueut. If auy construction on [he Property is discontinued or not carried ou iu a reasonable manner; Beneficiary may take all steps necessary to protect Beneficiary's security interest iu the Property, 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 [he 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 auy extensions, renewals, modifications or replacements (all referred to as Leases); and rents, issues and profits (all referred to as Rents). Iu the event any item listed as Leases or Rents is detenniued [o be persm~al property, this. Assigunteu[ 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 on execution of the Assigmnent, and all future Leases and any other infonnatiou with respect to these Leases will be provided iuunediately after 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 any Rents iu trust for Beneficiary and will-not coumtingle the Rents with any other foods. Trustor agrees that this Security Instrmueut is iuunediately effective between Trustor and Beneficiary and effective as to third parties on the recording of this Assigmnent. As long as this Assigmnent is iu effect, Trustor warrants and represents that no default exists under the Leases, and the parties subject to the Leases have not violated auy applicable law ou leases; licenses and landlords and tenants. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT, DEVELOPMENTS. Trustor agrees to comply with [he provisions of any lease if this Security Lvstrmuent is ou a leasehold. If the Property includes a unit iu a condominium or a planned unit development, Trustor will perfonu all of Trustor's duties under the covenants, by-laws, or regulations of the condominium or planned unit developmeuL r - Er cwt ®1994 eankere Systemq, Ine., St. Cloud, MN Form RE-DT-NE 1/30/2002. page 2 of 4) okp~ oC o f ~ ~00"~539~ok~ 14. DEFAULT. Trustor will.be iu default if auy pally obligated ou~the Secured Debt falls to make payment .when due. Trustor will be in default if. a breach occurs uuder the terms of [his Security Instrument or auy other document ..executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Beneficiary that Beueficiary at auy tune is insecure wiW respect to any person or entity obligated ou the Secured Debt or that the prospect of auy payment or the value of the Property is unpaired shall also constitute au event of default. 15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beueficiary to provide Trustor with notice of the right to cure or other notices and may establish tone schedules for foreclosure actions. Subject to these 1unitatiotts, if any, Beueficiary may accelerate the Secured Debt and foreclose this Security Instrument in a ntauuer provided by law if Trustor is iu default. At the option of Beueficiary, all or auy part of the agreed fees and charges; accrued interest and principal shall become unmediately due and payable, after giving notice if required by law, upon. the occurrence of a default or auytune thereafter. lu addition, Beueficiary shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any related documents, including without limitation, the power to sell~the Property. If there is a default, Trustee shall, iu addition to auy other permitted remedy, at the request of the Beueficiary,.. 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 tune and place as Trustee designates. Trustee shall give notice of sale including the tune, terns and place of sale and a description of the property to be sold as required by the applicable law in effect at the tune 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 dte purchaser, and after first paying all fees, charges and costs, shall pay to Beueficiary all ntoueys advanced for repairs, taxes, insurance, liens, assessments and prior eucmubrauces and interest thereon, and the principal and interest ou the Secured Debt, paying the surplus, if any, to Trustor Beneficiary tray purchase the Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein. All remedies are distinct, cumulative and not exclusive, and the Beueficiary is entitled to all remedies provided at law or equity, whethcr,or not expressly setforth. The acceptance by Beueficiary of auy 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 of auy existing default. By not exercising any remedy ou Trustor's default, Beueficiary does not waive Beneficiary's right [o later consider the 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 [o pay all of Beneficiary's expenses if Trustor breaches any covenant iu this Security Ltstrmnent. Trustor will also pay ou demand any aznount incurred by Beueficiary for insuring, inspecting, preserving or otherwise protecting the Property and Beneficiary's security interest. These expenses will bear interest from [he date of the payment until paid in full at the highest interest rate iu effect as provided, iu the tetnts of the Secured Debt. Trustor agrees to pay all costs and expenses incurred by Beueficiary in collecting, enforcing or protecting ,Beneficiary's rights and remedies uuder this Security Instrmnent. This aznount may include, but is not Incited to, attorneys' fees, court costs, and other legal expenses. This Security Iustrmmeut shall retttaiu iu effect until released. Trustor agrees to pay for auy recordation costs of such release. 17. ENVIIZONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used iu this section, (1) Euviromueutal Law means, without limitation, the Comprehensive Euviromuental 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, euviromnent or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaznittaut which has characteristics which reader the substance dangerous or potentially dangerous to the public health, safety, welfare or euviromneut. The terns includes, without l'unitatiou, auy substances defined as "hazardous material," ."toxic substances," "hazardous waste" or "hazardous substance" uuder any Euviromneutal Law. ' Trustor represents, warrants.aud agrees that: A. Except as previously disclosed and acknowledged in writing [o Beueficiary, no Hazardous Substance is or will be located, stored or released ou or iu the Property. This restriction does not apply to sntail quantities of Hazardous Substances that are generally recognized [o be appropriate for the uonmal use and ntaiutettance of the Property. B. Except as previously disclosed 'and acknowledged in writing [o Beueficiary, Trustor and every tenant have been, are, and shall remain iu full compliance with any applicable Euvirommeutal Law. C. Trustor shall immediately notify Beueficiary if a release or threatened release of a Hazardous Substance occurs ou, uuder or about the Property or there is a violation of any EuviromnentaC Law concerning the Property. In such au event, Trustor shall take all accessary remedial action iu accordance with any Euviromnental Law. D. Trustor shall iummediately notify Beueficiary in writing as soon as Trustor has reason to believe there is auy peudiug or dtreatened investigation, clafin, or proceeding relating to the release or threatened release of .auy Hazardous. Substance or the violation of any Euvirommental Law. 1S. CONDEMNATION. 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 through coudentuatiou, eminent domain, or any other means. Trustor authorizes Beneficiary to intervene in Trustor's uazme iu any of the above described actions or clauss. Trustor assigns to Beueficiary the proceeds of any award or clahn far damages connected with a coudetmtatiou or other taking of all or auy part of the Property. Such proceeds shall be considered payments and will be applied as provided iu this Security Iustrwneut. This assigmueut of proceeds is subject to the terms of auy prior mortgage, deed of trust, security agreement or other lien 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 insurance shall be maintained itt the aznouuts and for the periods that Beueficiary requires. What Lender requires pursuant to the preceding sentence eau change during the term of the loan. The iusura'uce 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, Beueficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights iu the Property according [o the terms of this Security Iustruntent. ' 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 mm~ediately notify Beueficiary of cancellation or tenuiuation of the insurance. Beneficiary shall have the ,right to hold the policies aztd renewals. If Beueficiary requires„ Trustor shall iuwtediately give to Beueficiary all receipts of paid premimns and renewal notices. Upon loss, Trustor shall give iuunediate notice to the insurance carrier and Beueficiary. Beueficiary may make proof of loss if not made ummedia[ely by Trustor.. "1 ^~ .-, . r ... ,,, t ~ _ l; / (Page 3 of 4). r~ / J~1IA/l ~~~~L/ Etta ®1994 Bankers Systems, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 ~ of ~.. - - - 2007539'~ok~ Utiless 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.Beueficiary's option. Auy application of proceeds- to principal shall not- extend or postpone the due.date.of the scheduled-payment uorchauge the autount of any payment. Any excess will be paid to the Grantor. If the Property is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from dunage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt htmtediately before the acquisition. 20. ESCROW FOR TAXES AND INSURANCE. Utiless otherwise provided iu a separate agreement, Trustor will not be required to pay to 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. ittformatiou Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional docunteuts or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Ltstrument and Beneficiary's lien status ou the Property. 22. 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 lustrunteut but does not sign an evidence of debt, Trustor does so Drily to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does nob agree to be personally. liable ou the Secured Debt. If this Security Iustrumeut secures a guaranty between Beneficiary anti Trustor, Trustor agrees to waive any rights that may prevent Beneficiary 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. Trustor agrees that Beneficiary and any party to this Security htstrument may extend, modify or make any change in the terms of this Security Iustrtmeu[ or any evidence of debt without Trustor's cottsen[. Such a.change will not release Trustor from the teruts of this Security Instrument. The duties and benefits of this Security Ltstrwneut shall bind and benefit the successors and assigns of Trustor and Beneficiary. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Iustrmneut 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 Iustrumeut may not be autended or modified by oral agreement. Any section in this Security Instrument, attaclunents, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or nmpliedly 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 Iustrumeut: Whenever used, the singular shall include the plural and the plural the singular. Tlie captions and headings of the sections of this Security Instrument are for convenience Duly and are not to be used to interpret or define the teams of this Security IYtstrutnen[. Tiute is of the essence in this Security htstrumeut. 24. SUCCESSOR- TRUSTEE. Beneficiary, at Beneficiary's option, may from time to [hue remove Trustee and appoint a successor trustee without any other formality than the designation 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. 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 ou page 1 of this Security Iustrwneut, or to any other address designated iu writing. 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 to the.Property. 27. OTHER TERMS. If checked, the following are applicable to this Security Iustrumeut: ^ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although. the Secured Deb[ may be reduced to a zero balance, this Security Instrument will remain in effect until released. ^ Construction Loan. This Security Iustrumeut secures au obligation incurred for the construction of au hnprovement on the Property. ^ Fixture Filing. Trustor grants to Beneficiary a security interest iu all goods that Grantor owns now or in the future and that are or will become fixtures related to the Property. This Security Instnuueu[ suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record fot purposes of Article 9 of the Uniform Coumnercial Code. ^ Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and atuend [he terms of this Security Iustrumeut. [Check all applicable boxes] ^ Coudontinium Rider ^ Planned Uni[ Development Rider ^ Other .................................................. ^ Additional Terms. i' SIGNATURES: By sigttiag below, Trustor agrees to the terms and covenants contained in this Security Iustrumeut and iu any attachments. Trustor also acknowledges receipt of a copy of this Security Instrument ou the date stated ou page 1. . ... .~. ..............................~Z/7~~ (Signature) pEAN R. MOSIER (Date) .. . ~.~.,~..-.~~.-~ ............. Via.. -.~- .o. ~ (Signal e) ALYCE A. MOSIER (Date) ACKNOWLEDGMENT: STATE OF N.E6RASKA ..........................'.........., COUNTY OF AOANIS.............................................} ss. t'"d1vi°"~t This instrument was acknowledged before me this ........7.T. ...... day of :...............0.ECEMBER,.2007................. by P.EAN.fl..MASIER:Al.YCE.A.MDSIER,.HU.SBAND.AND.'NIFE ............................................................................. . My coumnissiou expires:09~19~201D GENERAL NOTARY- State of NebrasMd (Notary Pubn JUDY DUKUP ' -~~ a ®1994 Bankers s _ i ~., si„~ia~, ~ornr~~-fie it onooz /page 4 of 4, t~ 7 h,