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HomeMy WebLinkAbout20075434 NUM PGS~ DOC TAX CK# FEES 0 JCO pp .eS(] CK# d '( CHG ACCI'# RET FEES: •5 CASH `~-R O.D. CK#, REr,~I~'i RETURN fA ~~- ~ IIII~IIIIIIVbI~Yllllll rvl.,M ~ola~i;oil ,E~~da~ Flo. ceMP ~ a~, ,~-~~ - .~tl - no ~ ADAMS COUNTY, NE FILE~D/~~~~, INST. NO..~Sl.ll.d.i.~ ~ ~ 4 Date l a_:1~._22 Time ~ L a ~'1 ~,QttrtA.2¢1 ~' ~d'71MtQ~ REGISTER OF DEEDS Slale of Nebraska Space Above This Line For Recording llata DEED OF TRUST (With Future Advance Clause) ~ ^ Construction Security Agreement ^ Master form recorded by ............................. DATE AND. PARTIES... The date of this Deed of. Trust .(Security- Instrument)- is ........._ .........11:?0 ;2007 . ....... . ..... ... and the parties, their addresses and tax identificatiou numbers, if .required, are as follows: TI2USTOR: ZION LUTHERAN CHURCH U.A.C., U.A.C. 465 S MARIAN RD HASTINGS, NE 68901 ^ If checked, refer to the attached Addeudum iucorporated herein, for additional Trustors, their signatures and acknowledgmeuts. TRUSTEE: Heritage Bank 800 West 3rd Hastings, NE 68901 BENEFICIARY: Heritage-Bank Organized and existing under the laws of the state of Nehraska 800 W 3rd Street P.0'. Box 349 Hastings, NE 68901 2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined below) and Trustor's performance under this Security Instrument,. Trustor irrevocably grants, conveys xud sells to Trustee, in trust for the benefit of Beneficiary, with power of sale, the following described property: ALL OF,LOT FOUR (4), EXCEPT THE SOUTHWEST SEVEN ISW 71 FEET THEREOF, BLOCK ONE Ill, COLONIAL ESTATES ADDITION TO THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF The property is located in ............................. ARAMS.............................. at 1228. HERITAGE DR ................................ (County) ............................................................. ....................HASTINGGS........,............, Nebraska ........6890.1........ . (Address) ~ (City) (ZIP Cate) 'l'ogetltcr 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 inrprovemeuts, structures, fixtures, and replacements that may now, or at any tune in the future, be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed $ 93,920:5.4 .........................................This lunitation of amount does not include interest and other fees xud charges validly made pursuant to this Security Iustrument. Also, this limitation does not apply to advances made ugder the terms of this Security lnstrumeut to protect Beneficiary's security and to perform any of the covenants contained io this Security Iustrument. 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), guaranry(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 Batch as borrowers' names, note amounts, interest rates, maturity dates, ete.J NEBRASKA -DEED OF TRUST INOT FOR FNMA, FHLMC, FHA OR VA USE) FJLI t'a m 1994 Bankers Systems, Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 o~ ~{ /page 1 of 41 IF B. All future a¢vauces 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 Iustruineut; each'1'rustor agrees that this' Security Listruinent wilLsecure'alt future advances and future • otiligatimts'..Utat<are giveu'to o'r incurred' by' any one 'oNliioreTrustor, 'or~ any one or:ritore Trustor ~aud, others. • All future advances' and other'future obligations 'are?secured by this Security IustrumenNeven'though all or part'may. not 'yeC'lie'advanced. `All future'advauces'add other future' obligatio~s• are secured as if'made on'the-dafe of this!'Security '.'Instrument. Nothing in this Security Instrument shall constitute a commiunent to-make additional or future loans or advances in any arnouut. Any such commiuneut must be agreed to in a separate writing. C. All obligations Trustor owes to Beneficiary, which maydater arise, to the extent uotprohibited by law, including, but not lunited to, liabilities for overdrafts relating to any. deposit account agreement between Trustor and Beneficiary. D.,AII additional sums advanced and expenses .incurred by Beneficiary for insuring, preserving or otherwise protecting the Property and its value and any other sums Advanced and expenses incurred by Beneficiary under the teens of this Security Iustrmment. ' This Security Instrument will not secure any other. debt if Beneficiary fails to give any required notice of the right of CetiCIS510n. , 5. PAYMENTS. Trustor agrees that all payuents under the Secured Debt will be paid when due and iu accordance with the leans of the Secured Debt and this Security Instrument. 6. WARRANTY OF TITLE. 'Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this Security luslrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust, with power of sale. 'Trustor also warrants that the Property is unencumbered, except for encumbrances of record. 7. PRIOR SECURITY INTERESTS. With regard to any other inortgage, deed of trust, security agreetent or other lien document that created a prior security interest or eucuntbrance 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 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 lieu document.without Beneficiary's priorwritten cogseut: 8. CLAIMS AGAINST TITLE.. Trustor will pay. all taxes,.assessments„ liens„encumbrances, lease. payments,. ground rents, utilities, and other charges relating to the Property whew due.. Beneficiary:. may require Trustor.to provide• to; Beneficiary copies of all notices. that. such. amounts are due° and the receipts. evidencing Trustor's payment. Trustor will defend title to the Property against, .any clahns that;:would.impair the .lien of this Security.;Instrulneht. Trustor agrees, to assign to Beneficiary, as requested by ,13eueficiary, any rights, claims or defenses 'Trustor may have against parties who supply labor or ntaterials to maintain or improve the Property. 9. DUE ON SALE OR.ENCUMBRANCE..Beueficiary may, at its option, declare the entire balauce_ of the Secured Debt to be umnediately due and payable upon the creation of, or contract for the creation of, any lieu, eucumbrauce, transfer or sate of the Property. 'This right,is subject to the restrictions unposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid iu full and this Security Instrument is released. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTIQN. Trustor.wil( keep, the. Property ~iu good- condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, unpairncnt, 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 iu any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands, proceedings, clahns, and actions against Trustor, and of any loss or damage to the Property. Beucficixry or'Bcueficiary's agents may, at Beneficiary's option, cuter the Property at any reasonable time for the purpose of iuspecting;the'Property. Beneficiary shall give Tiustor notice at the time 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 Trustorwill iu no way.rely on Beueficiary.'s.iuspectiou. .. 11. AUTHORTTY TO PERFORIVI. If Trustor fails. to perform any duty or any of the covenants contained ~ in 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 'name or pay city amount necessary for performance. Beneficiary's `right `to perform'for Trustor shall not create an obligation. to perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Security Instrwnent. If any construction ou the Property is discontinued or not carried ou iu a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's security interest in the Property; including completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to Trustee, in trust for the benefit of Beneficiary as additional security all the right, title and interest in the following (all referred to as'Property): existing or future leases, subleases, licenses, guaranties and any other written or. verbal agreements for the use and occupancy of Ute Property, including any extensions, renewals, modifications or replacements (all referred to as Leases); and reels, issues .and .profits , (all referred to as Rents).. In the event any item listed as, Leases or Rents is determined to be personal property, this Assignment 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 o^ execution of the Assigmnent, and all future Leases and any other information with respect to these Leases will be provided inunedixtely after they are executed. Trustor may collect, receive, enjoy and use the Rents so tong as Trustor is not in default. .. Upon default,, Trustor will receive any Rents iu trust for Beucficixry and will not conuningle the Rents with any other funds. Trustor agrees that leis Security Instrument is hmnedia[ely effective between Trustor and Beneficiary and effective as .lo third parties 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, and the parties subject to the Leases have not violated any applicable law on leases, ,liceuses,xud laudlords,aud tenants,,. .~„ ,: .•,, ~_._,._„__.......__ „. , 13. LEASEHOLDS;, . ,CONDOMINIUMS; ,PLANNED -UNIT DEVELOPMENTS. :Trustor:: agrees. to- :comply,;,,y%ith the provnlqus of.any..lease if;this Security luslrument n of a'leasehold 'If the Property includes a unit iu a condomimunt or a plxlined •.umt dwcl~pmcut, Trustor,will.perfonn All of.'I:rustgr.s duties under the covenants,'by laws„for regulations'ofthe coildoiitiuiunt or planlicd uiiit.developmeut. ' r. ~M~©1994 Bankers Systems Inc., St. Cloud, MN Form RE-DT-NE 1/30/2002 _ .. ~, AA , ,.. f.e. ~,r.. : ~.... A.,v ~:. infJ ( v t St 4'.I /.. ~ ay ,I 01 df y 200"15434 14. DEFAULT. Trustor will be m defaulNxtf any °party'obhgated`` nthe Secured Debt fails to make payment when due. Trustor will be in default iP a breach ,occurs under diet terdt~ `oPtthts`o~Security., Instrument or auy otlfer document executed for the ur ose of crextiu ~ securin or, giiar~iit rtp `'tlie;SUcaiedrtDebf`~,3A ood' faith belief b Beneficta that Beneficia at an P P 6, g. Y g=, g Y'._ rY'' D' ' y time is insecure with respect to auy person or entity obligated ,on the Secured Debt or that the prospect of any payment or the value of the.Property is.intpairedshal4also:constitute an event of default. .•; ~ ` 15. REMEDIES•ON DEFAULT. In;some instances, federal and state. law will require Beneficiary to provide Trustor with notice. of the. right to cure, or other notices and may establish time schedules for foreclosure actions. Subject to these limitations,..if any, Beneficiary may accelerate the Secured Debt and foreclose this- Security Instrument in a manner provided by law if Trustor is in default. At the option of Beneficiary, .all or auy part of the agreed fees and charges, accrued interest and principal shall become httmediately.:. due and payable, after giving notice if required by law, upon the occurrence of a default or 'anytime thereafter. In'additiou,. Beneficiary shall..be entitled- to~~all ihe, remedies provided by law, the leans 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, in addition to auy other permitted remedy, 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 tune and place as Trustee designates. Trustee shall give notice of sale including the thne, terms'and place'of sale anda 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 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 auy deed of conveyance shall be prima facie evidence of the facts set forth therein. All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law or eyuity, whether or not expressly set forth. The acceptance by Beneficiary of any sum in payment or partial payment on the Secured Debt after the balance is'duc'or is accelerated or after foreclosure ,proceedings are filed, shall not constitute a waiver of •Beueficiary's right to reyaiie cotiiplete cure 'of any existing default. By not exercising any- remedy on Trustor's default, Beneficiary doesnoLwaive Beneficiary's right to later consider the event a~default if iC continues or happens again. 16. EXPENSES; 9DVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Trustor agrees to pay all of Beneficiary's expenses if Trustoi breaches any covenant in this'Securiry Instrument. Trustor will also pay,on demand any amount incurred 6y 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 iu effect as provided in 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 Instrument. This atnouut may include, but is not lunited to, attorneys' fees, court costs, and other legal expenses. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any recordation costs of such release. 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used iu this. section, (1) Enviromnental Law means, without- lunitation,. the. Comprehensive. Environmental Response; Coinpeusation 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 health, safety, welfare, environment or a hazardous substance; and (2) 1-Iazardous 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 Environrrtental Law. Trustor represents; warrants and agrees that: , A.•Exccpt as previously disclosed and acknowledged iu writing to Beneficiary, no Hazardous Substance is or will be located,.. stored .or, released'ou: or in the Property. This restriction does.-not~ apply to stnalL quantities oG Hazardous ,Substances thatare.geuerally recognized to be'appropriate for the normal use and maintenance of the Property.. . • ~ .. B:.Except as previously .disclosed and acknowledged::in:writingto Beneficiary, Trustor and every tenant have .been,. are, and shall terrain in full compliance with any applicable Envirotnental Law. C. Trustor shall umnediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Enviromnental Law concerning the Property. In such an event, Trustor shall take all necessary remedial action iu accordance with auy Enviromnental Law. D. Trustor shale umnediatcly notify Beneficiary iu writing as soon as 'Trustor has reason to believe there is any pending or threatened investigation, clahn, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Enviromnental Law. 18. CONDEMNATION. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public entities to purchase or tike auy or all of the Property through condemnation, eminent domain, or any other means. Trustor authorizes Beneficiary to intervene in Trustor's name iu any of the above described. actions or;claints. Trustor assigns to Beneficiary the proceeds of any awxrd.or clahn for duuages connected with a condemnation or other taking of all or auy part of the Properly. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument. 'I'his•assigmueut of proceeds is subject to the terms of auy prior mortgage, deed of trust, security agreement or other lien documenC. 19. INSURANCE. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably 'associated with the Propery due to its type and location. This insurance shall be maintained iu the amounts and for the periods that Beneficiary reyuires. What Lender requires pursuant to the preceding sentence can change during the tern of the loan. 1'he insurance carrier providing the insurance shall be chosen by Trustor subject to Beneficiary's approval, which shill not be unreasonably -withheld If Trustor fails to maintain the coverage described above, Beneficiary auy, at Beneficiary's 'option; obtain coverage to protect Beneficiary's rights in the Property according to the ternts of this Security IustrumenC All insurance policies and renewals shall' be acci;ptable ~to Beneficiary and shall include'a standard "mortgage clause"•-and, where applicable; "loss payee clause." 'Trustor shalt htuitediately notify' Beneficiary of cancellation or termination of the insurance. Beneficiary shall have the`right- to hold the, policies ahd renewals. If Beneficiary requires; Trustor shall ummediatcly give to Beneficiary all `receipts of'paid premiums' and renewal notices: Upon loss, Trustor shall. give umuediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made hmnediately by 'Trustor. .~~ IPage 3 of 41 ~M ©1994 Bankers Systems, Inc., St. goud, MN Form RE-OT-NE 1/30/2002 ~' OT 2U075434 Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the.Properry 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 clue date of the scheduled payment nor change the amount of any payment. Any excess will be paid to'tlie Grantor. If the Property is acyuired..by Beneficiary, Trus[or'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'acyuisition.,, _ ~ ~' 20. ESCROW TOR" TAXES AND INSURANCE. Unless otherwise provided in a separate 'agreement; Trustor will uoC be required to pay to Beneficiary funds for taxes and insurance in escrow.. 21. 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 Grantor's obligations under this Security Instrument and Beneficiary's lieu status on the Property. 22. JOINT AND INDNIDUAL LIABILITY; CO-_SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Trustor signs this Security Instrwneut but does not sign au evidence of debt, Trustor does so otily 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 llebt. If this Security Instrwnent 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 party indebted under, the obligation: These rights ntxy include, but are not lunited to, any anti=deficiency or ouc-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 Iustrumeut 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 ibis Security Instrumetnl 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 which Beneficiary is located, except to Ute extent otherwise required by the laws of the jurisdiction where the Property is located. 'this Security lustrumeut is complete and fully integrated. This Security Instrument may not be atncuded or modified by oral agreement. Any section iu 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. L[' any section .of.this Security htstrwnent. cannot be enforced according to its ternts, that section will be severed and will not affect the enforceability of the remainder of this Security Instrwneut. Whenever used, the'singular shall include the plural and the plural tl>e: siugular..The captious and headings of the sections of this Security Ltstrwnent are for convenience only and are not to .be used to •interpret or define. the tertns of this'Security InstrumeuC. Tune is of the essence iu this Security lustrwnent.. 24. 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 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. lluless otherwise. required by law, any notice shall. be given by. delivering i[ or by mailing it by •first class mail to the appropriate party's address ou page 1 of this Security Instrwnent, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trustors. 26. WAIVERS. 1/xcept to the extent prohibited by taw, 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: ^ Liue of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. ^ Carstruction Loau. Phis Security Iustrumeut secures au obligation incurred for the construction of an improvement ou the Property. ^ Fixture Tiling. Trustor grouts 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 Instrument suffices as a financing statement and'any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. ^ Riders..Thc covenants and agreements of each of the riders checked below are incorporated into and supplement and atmend the terma of Utis Security Instrmiicut. [Check all applicable boxes] ^ Condominiwn Rider ^ Plauued Uuit Development Rider ^ Other .................................................. ^ Additional Terms. SIGNATURES: By signing below, Trustor agrees to the teens and covenants contained in Chis Security Instrument and in any attxchtnents. Trustor also acknowledges receipt of a copy of this Security lostrw ut on the d to stated ou page 1. ZION LUTHERAN CHURCH U.A.C. ~..... ' (Siy~au;re).DAVID JOYNT, CHAT (Date) (Siy~tature) RICHAR J. ARNESON, VICE.CHAIRMAN - , (Date) ACKNOWLEDGMENT: S'TA'1'1/ OP ......NEBRASKA ADAMS ..................................... COUNTY OP ....................................................} ss. p,tl;o;au:~), ''I'bis instrument was acknowledged before me this ....12th Degember r 2007 ..... d of ....... ... ................... by David Joynt, Chairman & Richard J Arneson, ce Ch firma of Zi theran My commission expires: Church U.A.C. ` GENERAL NOTARY•State of Nebraska ~ ~ ............................. DyyAyyN((!!IEL H~~.yyApN((~~~D~EGGRgSgtntON (Navy eusn~I per '" m 1994 Bankers Systems, In ! N'R6rifiT'NY "f790120D~t (page 4 of 4/ .,.., r. : ~ _ ~: ,. t~ ~) .e. Y of ~}