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Kenrsaw /V[' ~~q~ RD. C MP X [~ 11=.od' REGISTER OF DEEDS
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DEED OF TRUST
This Deed of Trust, hereinafter referred to as Security Instrument, is made on this 20th day of, February, 2008.
The Trustor, hereinafter referred to as Borrower, is' Wiseman Rentals; LLC, A Nebraska Limited Liability
Corporation, whose address is PO Box 156, Juniata, Nebraska.
The Trustee, hereinafter referred to as Trustee is Adams County Bank. The Beneficiary, hereinafter referred to as
Lender, is Adams County Bank, which is organized and existing under the laws of the State of Nebraska, and whose
address is Kenesaw, County of Adams, State of Nebraska. Borrower owes Lender the principal sum of
One Hundred Thousand Dollars and No/100---------------------Dollars ($100,000.00). This debt is evidenced by
Borrower's note dated the same date as this Security Instrument, hereinafter referred to as Note, with the full debt, if not
paid earlier, due and payable on March 1, 2018. This Security Instrument secures to Lender: (a) the repayment of the
debt evidenced by Note(s), together with interest thereon, any further advances, and all extensions, modification,
substitutions, and renewals thereof; (b) the payment of all other sums, with interest, advanced under Section Nine hereof
to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under
this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust,
with Power of Sale, the following described real estate:
Lots Ninety-r'rve (Q5) and Ninety-Six (96), in the Town now Village of Juniata, according to the recorded plat
there, which is located in Adams County, Nebraska, having the address of Juniata, Nebraska, and is hereinafter
referred to as "Property Address."
Together with all the improvements now or hereafter erected on the property and all easements, rights,
appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or
hereafter a part of the said property. All replacements and additions shall also be covered by this Security Instrument. All
of the foregoing is referred to in this Security Instrument as the "Property".
Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and
convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and
will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
Borrower and Lender covenant and agree as follows:
1. TRUST DEEDS ACT. That this Trust Deed shall be governed by the terms of Section 76-1001, and
following, of the Revised Statutes of the State of Nebraska, also known as the Nebraska Trust Deeds Act.
2. PAYMENT. That the Borrower shall pay to the Beneficiary the principal and interest under the terms of the
Promissory Note(s).
3. TAXES. That the Borrower shall pay all general real estate taxes and special assessments levied hereinafter
against the property when the same become due and before the same become delinquent.
4. INSURANCE. That the Borrower shall insure the property against loss by fire, hazards, included within the
term "Extended Coverage" and any other hazards for which the Lender requires insurance in an amount not less than
One Hundred Thousand Dollars and no/100--------------Dollars ($100,000.00) with a company qualified in the State
of Nebraska by a policy containing a clause for loss payable to the Beneficiary and the Borrower as their respective
interests exist at the time of the loss and to provide evidence of payment of the premium of said policy upon reasonable
demand by the beneficiary.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened,
or the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
any excess paid to Borrower.
If Borrower abandons the Property, or does not answer within thirty (30) days a notice from Lender that the
insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the
proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due.
The thirty (30) day period will begin when the notice is given.
Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
ur postpone the due date of the payments referred to in Section 2 hereof, cr change the amount of the payments. 1f the
property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the
Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
immediately prior to the acquisition.
5, WASTE. That the Borrower shall not commit or suffer any waste of the properly.
Removal of Improvements. Borrower shall not demolish or remove any improvements from the real property
without Lendr's prior written consent. As a condition to the removal of any improvements, Lender may require Borrower
to make arrangements satisfactory to Lender to replace such improvements with improvements of at least equal value.
Borrower will maintain the farm during the time this Deed of Trust remains in effect, in as good as condition and
repair as was when this instrument was executed, or is later improved. Additionally, Borrower shall operate and maintain
the farm real estate in an efficient and husband-like manner, and will do tillage, seeding, cultivating, and harvest at the
proper time and in the proper manner. Borrower shall also keep in good repair all grass, waterways, terraces, and open
ditches.
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6. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give
Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
7. CONDEMNATION. The proceeds of any award or claim for damages, direct or consequential, in connection
with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
assigned and shall be paid to Lender.
8: BORROWER NOT RELEASED; FOREBEARANCE BY LENDER NOT A WAIVER. Extension of the time
for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to
Borrower or any successor in interest of Borrower shall not operate to release the liability of the original Borrower or
Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest
or refiise to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by
reason of any demand made by the original Borrower or Borrower's successors in interest. Any forebearance by Lender
in exercising any right or remedy, shall not be a waiver of or preclude the exercise of any right or remedy.
9. DEFAULT. That, if the Borrower defaults in any of the covenants or agreements contained herein or in
performance of the Promissory Note(s) secured hereby, then the Beneficiary may perform the same and that all
expenditures made by Beneficiary in so doing shall draw interest at the rate provided in the Promissory Note(s) and shall
be repayable by Borrower to Beneficiary and, together with interest and costs accruing thereon, shall be secured by this
Deed of Trust.
1 O.ACCELERATION UPON DEFAULT. If the Borrower defaults in the payment of any installment of principal
or interest due under said Promissory Note(s) or if the Borrower defaults in the performance of any other covenant or
agreement to be performed under said Promissory Note(s) or this Deed of Trust, or if a trustee, receiver or liquidator of
tl~e Property or of Borrower shall be appointed, or any of the creditors of Borrower shall file a petition in bankruptcy
against Borrower, or for the reorganization of Borrower pursuant to the Federal Bankruptcy Code or any similar law,
whether federal or state, and if such order or petition shall not be discharged or dismissed within thirty (30) days after the
date on which such order or petition was filed, or. Borrower shall file a petition pursuant to the Federal Bankruptcy Code
or any similar law, federal or state, or if Borrower shall be ajudged a bankrupt, or be declared insolvent, or shall make an
assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall
consent to the appointment of a receiver of all or any part of the property, or if any representation or warrant made by
Borrower on any financial statements or reports submitted to Lender by or on behalf of Borrower shall prove false or
materially misleading, or if Borrower is a corporation or partnership and more than fifty percent (50%) of the shares or
beneficial interests in such corporation or partnership, as the case may be, shall be transferred or conveyed, whether
voluntarily or involuntarily, without the written consent of Lender being first had and obtained.
Upon the occurrence of any of the above described defaults, or anytime thereafter, Beneficiary may, at its option,
declare all the indebtedness secured hereby immediately due and payable and the same shall bear interest at the default
rate, if any, set forth in the Note, or otherwise at the highest rate permitted by law, and, irrespective of whether
Beneficiary exercises said option, it may, at its option and in its sole discretion, without any further notice or demand to or
upon Trustor, do one or more of the following: (a) Beneficiary may enter upon, take possession of, manage and operate
the Property or any part thereof, make repairs and possession, in its own name, sue for or otherwise collect and receive
rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and
collection, including reasonable attorney fees and Beneficiary's costs, upon the indebtedness secured hereby and in such
order as Beneficiary may determine. The entering upon and taking possession of the Property, the collection of any rents,
issues and profits, and the application thereof as aforesaid, shall not cure or waive any default theretofore or thereafter
occurring, or affect any notice of default or notice of sale hereunder or 'invalidate any act done pursuant to any such
notice. Beneficiary may bring any action in any court of competent jurisdiction to foreclose this Deed of Trust or enforce
any of the covenants hereof and Beneficiary may elect to cause the Property or any part thereof to be sold under the power
of sale, and in such event, Beneficiary may elect to cause the Property or any part thereof to be sold under the power of
sale, and in such event, Beneficiary or Trustee shall give such notice of default and notice of sale as may be then required
by law.
1 1. POWER OF SALE. That the Borrower hereby confers upon the Trustee a power to sell the property which
the Trustee may exercise and under which the property may be sold in the manner provided by law. At the option of the
beneficiary, this Deed of Trust may be foreclosed in the manner provided by law for the foreclosure of mortgage on real
property. That, if a sale of the property by the Trustee is exercised under this power of sale, the proceeds shall be applied
first to the payment of the costs and expenses of exercising the power of sale, including the fee of the Trustee in an
amount not to exceed two per cent (2%) of the sale price then to the payment of the obligation secured by the Deed of
Trust and the balance, if any, to the person or persons legally entitled thereto.
12. ACCELERATION [N THE EVENT OF TRANSFER. hl the event the title to the said real estate is
transferred, or contracted to be transferred, from the undersigned for any reason or by any method whatsoever, the entire
principal sum and the accrued interest shall at once become due and payable at the election of the Beneficiary. Failure to
exercise this option because of transfer of title as above sated in one instance shall nct constitute a waiver of the right to
exercise the same in the event of any subsequent transfer.
13. DUTIES OF TRUSTEE. Borrower agrees that: (a) Duties and obligations of Trustee shall be determined
solely by the express provisions of this Deed of Trust and Trustee shall not be liable except for the performance of such
duties and obligations as are specifically set forth herein, and no implied covenants or obligations shall be imposed upon
Trustee; (b) No provisions of this Deed of Trust shall require Trustee to expend or risk its own funds, or otherwise incur
any financial obligation in the performance of any of its duties hereunder, or in the exercise of any of its rights or power;
(c) Trustee may consult with counsel of its own choosing and the advice of such counsel shall be full and complete
authorization and protection in the respect of any action taken or suffered by it hereunder in good faith and reliance
thereon; and (d) Trustee shall not be liable for any action taken by it in good faith and reasonably believed by it to be
authorized or within its discretion or rights or powers conferred upon it by this Deed of Trust.
1.4. RECONVEYANCE. Upon payment of all sums secured by this Security Instrument, Lender shall request
Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this
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Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or
persons legally entitled to it. Such person or persons shall pay any recordation costs.
15. HAZARDOUS MATERIALS. Borrower shall keep the Property in compliance with all applicable laws,
ordinances and regulations relating to industrial hygiene or enviornmental protection (collectively referred to herein as
"Enviornmental Laws") Borrower shall keep the Property free from all substances deemed to be hazardous or toxic under
any Enviornmental Laws (collectively reffered to herein as "Hazardous Materials"). Borrower hereby warrants and
represents to Lender that there are no Hazardous Materials on or under the Property. Borrower hereby agrees to
indemnify and hold harmless Lender, its directors, officers, employees and agents, and any successors to Lender's
interest, from and against any and all claims, damages, losses and liabilities arising in connection with the claims,
damages, losses and liabilities arising in connection with the presents, use, disposal or transport of any Hazardous
Materials on, under, from or about the Property. The provisions of this section of the Deed of Trust, including the
obligation to indemnify, shall survive the payment of the indebtedness and the satisfaction and reconveyance of the lien
on this Deed of Trust and shall not be affected by Lender's acquisition of any interest in the property, whether by
foreclosure or otherwise.
16. This Deed of Trust shall be binding upon the parties hereto and all their assigned and heirs.
17. NOTICES. Any notices to Borrower provided for in this Security Instrument shall be given by delivering it or by
mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
first class -nail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any
notice provided for in this Security L~strument shall be deemed to have been given to Borrower or Lender when given as
provided in this paragraph.
18. SUBSTITUTE TRUSTEE. Lender, at its option, may from time to time remove Trustee and appoint a successor
trustee to any Trustee appointed hereunder by an instrument recorded in the County in which this Security Instrument is
recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power, and duties
conferred upon Trustee herein and by applicable law.
DATED this "loth day of February, 2008.
-
c.~
Colin L.Wiseman, Mem er
Colin L. Wiseman Jr., Member
BY:
STATE OF NEBRASKA )
ss.
COUNTY OF ADAMS )
~~~~ I
Eliza th C~Wiseman, Member
Mark J.
The foregoing instrument was acknowledged before me this 20th day of February, 2008 by Colin L.
Wiseman, Member & Elizabeth C. Wiseman, Member & Colin L. Wiseman Jr., Member & James C. Wiseman,
Member for Wiseman Rentals, LLC, a Nebraska Limited Liability Corporation, in their own right, and. they
acknowledge the execution of the above Deed of Trust to be their voluntary act and deed.
Iv tart'
U GENERA!. NOTARY - State of Nebraska
STATE OF NEBRASKA ) PATSY A.JACOBSEN
)ss. My Comm. Exp. Much 6, 2012
COUNTY OF ADAMS )
The foregoing instrument was acknowledged before me this 20th'day of February, 2008, by Mark J. Keiser,
President of Adams County Bank, a Nebraska Banki g corporation on b half of the corporation.
Notary
GENERAL NOTARY • State of Nebraska
I~ PATSY A. JACOBSEN
_ My Comm Exp. March 6, 2012
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TRU~~Fj& BENEFICIARY/LENDER