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HomeMy WebLinkAbout20075505NUM PGS~_ DOC TAX CK# FEES oZGti'SO PD D.SO CK# q CHG ACCT # RE7FEES,~: -CASH_R.O.D.CK#_ RETURN AG~dixs ~~.~~%i f~a _./r~l.ffizos ~E 10890/ !~YI~M~VItlN~I~iYI iD. COMP ~~/ ~- ~,~ COMPARE __ ~s61 CADAS ~ AO ~ ADAMS COUNTY, NE fiLED INST. NO.~,o n t7 5 5 Q 5 r ,,r.:. Date /-z ~9-°~~me ~'ir~;rr ` d~' ~o~~inzoanJ REGISTER OF DEEDS State of Nebraska Space Above Phis Line Por Recording Data DEED OF TRUST i (With Ruture Advance Clause) ^ Construction Security Agreement ^ Master form recorded by ............................: 1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrunent) is ..................1?:13.2007 , , , , , , , .. , , ..... , -aud the parties, their addresses aud tax identification numbers, if required, are as follows: 1'12US1 OR: OSVALDO F. TELLEZ and MELISSA 5. TELLEZ, Hushand and Wife N6CRANBROOKLANE HASTINGS, NE 68901 ^ 1f checked, refer to the attached Addendum ihcorporated herein, for additional Trustors, their signatures aud acknowledgments. 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.O. Box 349 Hastings, NE 68901 2. CONVEYANCE. For good and valuable consideration, the receipt aud sufficiency of which is acknowledged, anil to secure the Secured Debt (defined below) and Trustor's performance under this Security Instrument, Trustor irrevocably grants, conveys aud sells to 'trustee, in trust for the benefit of Beneficiary, with power of sale, the following described property: LOT FOUR 141, BLOCK FOUR 141, OF SEWELL'S ADDITION TO THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF The property is located in ............................. ApAM3.............................. at 51,4,5,BALTIMORE.AVE...................... (Cowuy) , .......................................................... ....................HASTINGS...................., Nebraska ........$890.1........ (Address) (City) ~ i' ~ (ZIP Code) Toget[ier with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock aud all existing and future hnprovemeuts, structures, fixtures, and replacements that may now, or at any tune iu the future, be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIlVIIT. The total principal amount secured by this Security Instrument at any one time shall not exceed $ $;537,61 ...........................................This lumitation of amount does not include interest and other fees aud charges validly made pursuatit to this Security Instrument. Also, this L'unitatiou does not apply to advances made under die terms of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this Security lustrumeut. 4. SECURED DEBT AND TUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terns of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.J NEBRASKA -DEED OF TRUST INOT FOR FNMA, FHLMC, FHA OR VA USE) der- M ®1994 Bankers Systems, Inc., St. Cloud, MN Form RE-DT~NE 1/30/2002 ..,Q-~~,,1:.,.:l /°~-Y 2007550.5 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 Iuslrmuent 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 ar more Trustor ahd others. All future advances and other future obligations are secured by this Security Inslrutnent even though all or part may not yet be advanced. All future advances- and other future obligations are secured as if made ou 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. Auy such cotnmitnteut must be agreed to in a separate writing. C. All obligations '1'rusfor 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 sums advanced and expenses.iucurred 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 Instrument. This Security lustrument will not secure any other debt if Beneficiary fails to give any required notice of the right of rescission. 5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will he paid when due and iu accordance with the terms of the Secured Debt and this Security Iustrwnent. 6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed'by this Security Inslrutnent 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 mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance ou the Properly, 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 document without Beneficiary's prior written consent. S. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments,. liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when 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 hupair the lieu of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, clahns or defenses Trustor may have against parties who supply labor or materials to maintain or hnprove 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. Phis right is subject lathe restrictions unposed by federal law (12 C.F.R. 591), as applicable. This covenant shall curt with the Property and shall remain iu effect until the Secured Debt is paid in full and this Security Instrument is released. , 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor wilt keep the Property in good condition xud make all repairs that are reasonably accessary. Trustor shall not commit or allow any waste, impainneul, or dcterioratio^ 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, clahns, and actions against Trustor, and of any loss or damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable thne for the purpose of inspecting the Property. Beneficiary shall give Trustor notice al the time of or before au inspection specifying a reasonable purpose for the inspection. Any inspection of the Properly shall be entirely for Beneficiary's benefit and Trustor will iu no way rely on Beneficiary's inspection. 11. AUTHORITY TO PERFORM. If Trustor fails to perform any_ duty or any of the covenants contained in this Security Iustrumeut, Beneficiary may, with-out notice, perform or cause them to be performed. Trustor appoints Beneficiary as attorney in fact to sign Trustor's natnc or pay any 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 lustrumenl. If any construction on the 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, 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 the 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 deternined to be personal properly, ibis 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 on execution of the Assignment, and all future Leases and any-other information with respect to these Leases will be provided hmnediately after they arc executed. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not iu default. Upo^ default, Trustor will receive any Rents in trust for Beneficiary and will not cotmningle the Rents with any other ILuds. Trustor agrees that this Security Iustrumeut is utuncdiately effective between Trustor and Beneficiary and effective as to third parties on the recording of this Assigmueul:"`As, long"'as "this Assigmnent is iu effect, Trustor warrants and represents that ^o default exists under the Leases, and the parties subject_to,the Leases have not violated any applicable law ou Leases, licenses and landlords and tenants. 13. LEASEHOLDS, CONDOMINHJMS; PLANNED , UNIT...DEVELOPMENTS. Truss orf agrees, ~o ~omply,~ with ttte ""p,rovtsious`"of any"lease tf"this Security Iustrumeut is ou a leasehold. If the Property t~cludesl;a~untt>tnitG,c©ndoinmium or a _planncd..unit development;-•Trustor will perform all of Trustor's-duties-under the covenantshlby,,l~aws o'i~regul~uous,:oJ' the coudonuuium or_plxul~ecl„unit development. ~ a ri ,. u L e n M ©1994 Bankers 5 stems, Inc., St. Cloud, MN Form RE-DT-NE 1/302002 I ~s: ..,...~. ., ' lln l " 4 I^i t is.~ 2~y y . ~ - 2007550 14. DEFAULT. Trustor will be in default if~any~paify'dtiligated on thq Secured Debt fails to make payment when due. Trustor will be iu default if a breach occurs under.,{he tenns'of`tfiis,~.'Secuciry Instrument or any other document executed for the ur ose of creati^ securiu or ~ natant in 'the-Secured-Debe:~~A) ood faith belief b Beneficia that Beneficia at au P P g> g g" Y ~._ g Y ry rY Y time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or the value of the Property is impaired shall also constitute au 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 Iustrument iu a manner provided by law iP'Trustor is in default. At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become inmtediately due and payable, after giving notice if required by, law, upon .the occurrence .,of a default or .anytime thereafter. lu addition, Beneficiary shall be entitled to all'lhe remedies provided by law, dhe"aeons of `the Secured Debt; this Security Instrumeut and any related documents, including without limitation, the power to sell the Property. If there is a default, Trdstee shall, in addition to xuy. other permitted remedy, at the request of the Beneficiary, advertise and sell the Property as a whole or iu separate parcels a[ 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 tune, [eons 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 xnd to the extent not prohibited by Law, Trustee shall make and delivera 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 iu any deed of conveyance shall be prhna facie evidence of the facts set forth therein. All remedies are distinct, cwnulative 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 swtt 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 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 continues or happens again. 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by lxw,'Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this Security Instrumeut. Trustor will also pay on demand any' amount 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 iu 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 in collecting,. enforcing or protecting Beneficiary's rights and remedies under this Security Iustrument. This amount may include, but is not lunited to, attorneys' fees, court costs, and other legal expenses. This Security Iustrument 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 iu this section, (1) Environmental Law means, without tunitation, the Comprehensive Euvirownemal 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. '1 he teen includes, without Ihnitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Enviroumeutal Law. Trustor represents, warrants and agrees that: A. Except as previously disclosed xnd acknowledged iu writing to Beneficiary, no Hazardous Substance is or will be located, stored or released o^ 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 ntaiutenance of the Property. B. Except as previously disclosed and acknowledged iu writing to Beneficiary, Trustor and every tenant have been, are, and shall remain in full compliance with any applicable Envirownental Law. C. Trustor shall immediately uofify Beneficiary if a release or threatened release of a Hazardous Substance occurs ou, uuder.or about the Property or there is a violation of any Envirownental Law concerning the Property. Iu such au event, Trustor shall take all necessary remedial action in accordance wish any Environmental Law. D.'I'rustor shall hmnediately uofify 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. 18. 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 menus. Trustor authorizes Beneficiary to intervene i^ Trustor's name iu any of the above described actions or,claims. Trustor assigns [o Beneficiary the proceeds of any award or clahu 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 Iustrwnent. This 'assigwnent of proceeds is subject to the terns of any prior mortgage, deed of trust, security agreement or othcrlien document. 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 in the amounts and for the periods that Beneficiary requires. What Leudcr requires pursuant to the preceding sentence eau change during the term of the loan. The 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 Wray, 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 "morgage clause" and, where applicable, "loss payee clause." Trustor shall umnediately notify Beneficiary of cancellation or termination of the insurance. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Trustor shall imm~edixtely give to Beneficiary all receipts of paid premiums and renewal notices. Upon loss, Trustor .shill give hrtmediate notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made hmnediately by 'Trustor. I Pa9~ M Dl ~ p~.rt ©1994 Bankers Systems, Inc., St. Cloud, MN Form RE-OT-NE 1/30/2002 i`i., .~ 1'"r P, ;~00"15505 Unless otherwise agreed in writing, all insurauce 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. Auy application of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the wnouut of any payment. Any excess will be paid to the Grantor. ,If the Property is acquired by Beneficiary, Trustor's right to auy insurauce policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt hmnediately before the acquisition. 20. ESCROW TOR TAXES AND' INSURANCE. Unless otherwise provided iu a separate agreement, Trustor will not be required to pay to Beneficiary foods for taxes and insurance in escrow. 21. TINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. 'Trustor will provide to Beneficiary upon request, auy 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 lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILTTY; CO-_SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under . this Security Iustrumeut are joint and individual. If Trustor signs this Security Instrument.but does not sign au evidence of debt, Trustor does so only to mortgage Trustor's interest in the Property Co secure payment of the Secured Debt and 'Trustor does not agree to be personally liable ou the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustor, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or clahn against Trustor or auy party indebted under the obligation: These rights may include, but are not limited lo, auy anti-deficiency or one-action laws. Trustor agrees that Beneficiary and any party to this Security:Instrument tnay extend, modify or make any change iu the terms of this Security Iustrumeut or any evidence of debt without Truslor's consent. Such a change will not release Trustor front the ternts oP this Security Instrument. The duties and benefits of [his Security Instrument 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 the extent otherwise required by the laws of the jurisdiction where the Properly is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Auy section in this Security Instrument, attachments, or auy agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or hnpliedly 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 Iustrwnent. Whenever used, the singular shall include the plural and the plural the singular. 'fhe captions and headings oP the sections of this Security Iustrwnent are for convenience only and are not to be used to interpret or define the terms of this Security Iustrwnent. 'l'ime is of the essence iu this Security Iustrwnent. 24. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from thne to torte remove Trustee and appoint a successor trustee without auy 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 Iustrumeut and applicable law. 25. NOTICE. Unless otherwise required by law, auy notice shall be given by delivering it or by mailing it by first class mail to We appropriate party's address on page I of this Security Iustrwnent, or to auy other address designated in 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. IP cLtecked, the following are applicable to this Security Instrument: ^ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Iustrwnent will remain in effect until released. ^ Construction Loan. This Security Iustrumeut secures an obligation incurred for the construction of au improvement ou the Property. ^ Tixture Tiling. 'trustor grants to Beneficiary a security interest in 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 auy carbon, photographic or other reproduction may be filed of record for purposes oP Article 9 of the Uniform Cormnercial Code. ^ Riders. 'fhe coveuauts and agreements of each of the riders cficcked below are incorporated into and supplement and amend the terms of this Security Iustrumeut. [Check all applicable boxes] ^ Condominium Rider ^ Plauued Unit Development Rider ^ Other .................................................. ^ Additional Terms. SIGNATURES: By signing below, Trustor agrees to the terms and coveuauts contained in this Security Iustrwnent and iu auy attaclunenls. 'trustor also acknowledges receipt of a copy of this Security Iustrumeut on the date stated on page 1. (Signature) OSVALDO F. TELLEZ (Date) (Signature) MELISSA S. TELLEZ (Date) ACKNOWLEDGMENT: S1'A'fB OP Nebraska ...................................... COUNTY OF ADAMS............................................} ss. (~'~''"'00"~ This instrument was acknowledged before me this ........13th....... day of ................Deeembet.2007................. by RSVALAO.F.TELLEZ;.MEUS.SA.S...TFJ.LEZ,.Huskand.andYVile ..............:.........:............................................... . My conmtissiou expires: ` ~, t; / ~UZ GENERAL NO fARY -State of Netrcaska ..: ~G ll• 4~!-?~- ...?`~. ~ .... ~ ........................ . fll tt~~~ SANppD~RA SHUTT (Notary Public) ~.JLf '~ ©1884 Bankare Systems, Inc., 5 . ~ ~ Fdtfii t `~hf p' ` '~C/, /page 4 of 4) y~y