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ADAMS COUNTY, NE
f 1LED
INST. N0. ~ ~ ~ 1 ~ ~
Date - - U8
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REGISTER OF DEEDS
DEED OF TRUST
THIS DEED OF TRUST, is made as of the 18t" day of January, 2008, by and
among Diann L. Sibert, Trustee of the Diann L. Sibert Revocable Trust, whether one or
more persons ("Trustor"), whose mailing address is 3310 East Monument Road,
Glenvil, Nebraska 68941; LES SEILER, Attorney at Law, ("Trustee"), whose mailing
address is P.O. Box 1288, Hastings, Nebraska 68902-1288; and Barrel Bar, Inc., a
Nebraska Corporation, whether one or more persons ("Beneficiary"), whose mailing
address is 1200 East South Street, Hastings, Nebraska 68901.
FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and
assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security
of Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the
real property, located in the County of Adams, State of Nebraska, and described as
follows (the "Property"):
An Undivided One-half (1/2) interest in:
Siberts Subdivision #2, Adams County, Nebraska; formerly known as: a
tract of land located in the Northwest Quarter of the Northwest Quarter
(NW1/4NW1/4) of Section Three (3), Township Five (5) North, Range Nine (9)
West of the 6t" P.M., Adams County, Nebraska.
TOGETHER WITH, all rents, easements, appurtenances, hereditaments,
interests in adjoining roads, streets and alleys, improvements and buildings of any kind
situated thereon and all personal property that may be or hereafter become an integral
part of such buildings and improvements, all crops raised thereon, and all water rights.
The Property and the entire estate and interest conveyed to the Trustee are
referred to collectively as the "Trust Estate".
FOR THE PURPOSE OF SECURING:
SEILER & PARKER
P.C., L.L.O.
LAW OFFICES
726 EAST SIDE BLVD.
P.O. BOX 1288
HASTINGS, NE 68902
(402)463-3125
a. Payment of indebtedness in the total amount of $16,000.00 with interest of 4
1/2% thereon, as evidenced by that certain promissory note of even date (the "Note")
with a maturity date of January 18, 2011, executed by Trustor, which has been
delivered and is payable to the order of Beneficiary, and which by this reference is
hereby made a part hereof, and any and all modifications, extensions and renewals
thereof, and
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b. Payment of all sums advanced by Beneficiary to protect the Trust Estate,
with interest thereon at the rate of 4.5% per annum.
This Deed of Trust, the Note, and any Qther instrument given to evidence or
further secure the payment and performance of any obligation secured hereby are
referred to collectively as the "Loan Instruments".
TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
SEILEI2 & PARKER
P.C., L.L.O.
LAW OFFICES
726 EAST SIDE BLVD.
P.O. BOX 1288
HASTINGS, NE 68902
(402)463-3125
1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal
of, and the interest on, the indebtedness evidenced by the Note, charges, fees and all
other sums as provided in the Loan Instruments.
2. TAXES. Trustor shall pay each installment of all taxes and special
assessments of every kind, now or hereafter levied against the Trust Estate or any part
thereof, before delinquency, without notice or demand, and shall provide Beneficiary
with evidence of the payment of same. Trustor shall pay all taxes and assessments
which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or
the debt secured hereby, without regard to any law that may be enacted imposing
payment of the whole or any part thereof upon the Beneficiary.
3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended
coverage insurance insuring the improvements and buildings constituting part of the
Trust Estate for an amount no less than the amount of the unpaid principal balance of
the Note (co-insurance not exceeding 80% permitted). Such insurance policy shall
contain a standard mortgage clause in favor of Beneficiary and shall not be cancelable,
terminable or modifiable without Ten (10) days prior written notice to Beneficiary..
Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof
so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no
event shall the Trustor commit waste on or to the Trust Estate.
4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and
contest any action or proceeding purporting to affect the security hereof or the rights or
powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost
of evidence of title and attorney's fees to the extent allowed by law, in any such action,
or proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make
any payment or to do any acts as and in the manner provided in any of the Loan
Instruments, Beneficiary and/or Trustee, each in its own discretion, without obligation
so to do and without notice to or demand upon Trustor and without releasing Trustor
from any obligation, may make or do the same in such manner and to such extent as
either may deem necessary to protect the security hereof. Trustor shall, immediately
upon demand therefor by Beneficiary, pay all costs and expenses incurred by
Beneficiary in connection with the exercise by Beneficiary of the foregoing rights,
including without limitation costs of evidence of title, court costs, appraisals, surveys
and attorney's fees. Any such costs and expenses not paid within Ten (10) days of
written demand shall draw interest at the default rate provided in the Note.
5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest
therein, be taken or damaged by reason of any public improvement or condemnation
proceeding, or in any other manner, including deed in lieu of condemnation
("Condemnation"), or should Trustor receive any notice or other information regarding
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SEILER & PARKER
P.C., L.L.O.
LAW OFFICES
726 EAST SIDE BLVD.
P.O. BOX 1288
HASTINGS, NE 68902
(402)463-3125
such proceeding, Trustor shall give prompt .written notice thereof to Beneficiary.
Beneficiary shall be entitled to all compensation, awards and other payments or relief
thereof, and shall be entitled at its option to commence,. appear in and prosecute in its
own name any action or proceedings. Beneficiary shall also. be entitled to make any
compromise or settlement in connection with such taking or damage. All such
compensation, awards, damages, rights of action and proceeds awarded to Trustor
(the "Proceeds") are hereby assigned to Beneficiary and Trustor agrees to execute
such further assignments of the Proceeds as Beneficiary or Trustee may require.
6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time
to time, by a written instrument executed and acknowledged by Beneficiary, mailed to
Trustor and recorded in the County in which the Trust Estate is located, and by
otherwise complying with the provisions of the applicable law of the State of Nebraska,
substitute a successor or successors to the Trustee named herein or acting hereunder.
7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the
benefit of and binds all parties hereto, their heirs, legatees, devisees, personal
representatives, successors and assigns. The term "Beneficiary" shall mean the
owner and holder of the Note, whether or not named as Beneficiary herein.
8. SALE OF SECURED PROPERTY. It is hereby agreed between the
Beneficiary and Trustor, in the event that the Trustor shall sell the property then the
Deed of Trust and Promissory Note shall become due and payable immediately.
9. INSPECTIONS. Beneficiary, or its agents, representatives or workmen, are
authorized to enter at any reasonable time upon or in any part of the Trust Estate for
the purpose of inspecting the same and for the purpose of performing any of the acts it
is authorized to perform under the terms of any of the Loan Instruments.
10. EVENTS OF DEFAULT. Any of the following events shall be deemed an
event of default hereunder:
(a) Trustor shall have failed to make payment of any installment of interest,
principal, or principal and interest or any other sum secured hereby when due; or
(b) There has occurred a breach of or default under any term, covenant,
agreement, condition, provision, representation or warranty contained in any of the
Loan Instruments or in any mortgage or security instrument which is superior to this
Deed of Trust upon the Property.
11. ADDITIONAL EVENTS OF DEFAULT TRANSFER OF PROPERTY. If all
or any part of the Property or any interest therein is sold or transferred by Trustor's
without Beneficiary's prior written consent, excluding (a) the creation of a lien or
encumbrance subordinate to this Deed of Trust, (b) the creation of a purchase security
interest for household appliances (c) a transfer by devise, descent or by operation of
law upon the death of a joint tenant or (d) the grant of any leasehold interest of three
years or less not containing an option to purchase, Beneficiary's may, at Beneficiary's
option, declare all the sums secured by this Deed of Trust to be immediately due and
payable.
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SEILER & PARKER
P.C., L.L.O.
LAW OFFICES
726 EAST SIDE BLVD.
P.O. BOX 1288
HASTINGS, NE 68902
(402) 463-3125
12. ACCELERATION UPON DEFAULT. ADDITIONAL REMEDIES. Should
any event of default occur Beneficiary may declare all indebtedness secured hereby to
be due and payable and the same shall thereupon become due and payable without
any presentment, demand, protest or notice of any kind. Thereafter Beneficiary-may:
(i) Either in person or by agent, with or without bringing any action or
proceeding, or by a receiver appointed by a court and without regard to the adequacy
of its security, enter upon and take possession of the Trust Estate, or any part thereof,
in its own name or in the name of Trustee, and do any acts which it deems necessary
or desirable to preserve the value, marketability or rentability of the Trust Estate, or
part thereof or interest therein, increase the income therefrom or protect the security
thereof and, with or without taking possession of the Trust Estate, sue for or otherwise
collect the rents, issues and profits thereof, including those past due and unpaid, and
apply the same, less costs and expenses of operation and collection, including
attorneys' fees to the extent allowed by law, upon any indebtedness secured hereby,
all in such order as Beneficiary may determine. The entering upon and taking
possession of the Trust Estate, the collection of such rents, issues and profits and the
application thereof as aforesaid, shall not cure or waive any default or notice of default
hereunder or invalidate any act done in response to such default or pursuant to such
notice of default and, notwithstanding the continuance in possession of the Trust
Estate or the collection, receipt and application of rents, issues or profits, Trustee or
Beneficiary shall be entitled to exercise every right provided for in any of the Loan
Instruments or by law upon occurrence of an event of default, including the right to
exercise the power of sale;
(ii) Commence an action to foreclose this Deed of Trust as a mortgage, appoint
a receiver, or specifically enforce any of the covenants hereof;
(iii) Deliver to Trustee a written declaration of default and demand for sale, and
a written notice of default and election to cause Trustor's interest in the- Trust Estate to
be sold, which notice Trustee shall cause to be duly filed for record in the appropriate
Official Records of the County in which the Trust Estate is located.
13. FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to
foreclose by exercise of the Power of Sale herein contained, Beneficiary shall notify
Trustee and shall deposit with Trustee this Deed of Trust and the Note and such
receipts and evidence of expenditures made and secured hereby as Trustee may
require.
(a) Upon receipt of such notice from Beneficiary,. Trustee=shall cause to be
recorded, published and delivered to Trustor such Notice of Default as then required
by law and by this Deed of Trust. Trustee shall, without demand on Trustor, after such
time as may then be required by law and after recordation of such Notice of Default
and after Notice of Sale having been given as required by law, sell the Trust Estate at
the. time and place of sale fixed by it in such Notice of Sale, either as a whole, or in
separate lots or parcels or items as Trustee shall deem expedient, and in such order
as it may determine, at public auction to the highest bidder for cash in lawful money of
the United States payable at the time of sale. Trustee shall deliver to such purchaser
or purchasers thereof its good and sufficient deed or deeds conveying the property so
sold, but without any covenant or warranty, express or implied. The recitals in such
deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
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SEILER & PARKER
P.C., L.L.O.
LAW OFFICES
726 EAST S[DE BLVD.
P.O. BOX 1288
HASTINGS, NE 68902
(402)463-3125
person, including, without limitation, Trustor, Trustee or Beneficiary, may purchase at
such sale and Trustor hereby covenants to warrant and defend the title of such
purchaser or purchasers.
(b} As may be permitted by law, after deducting all costs, fees and expenses of
Trustee and of this Trust, including costs of evidence of title in connection with sale,
Trustee shall apply the proceeds of sale to payment of (i) all sums expended under the
terms hereof, not then repaid, with accrued interest at Percent
~%) per annum, (ii) all other sums then secured hereby, and (iii) the remainder,
if any, to the person or persons legally entitled thereto.
(c) Trustee may, in the manner provided by law, postpone sale of all or any
portion of the Trust Estate.
14. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary and each of them
shall be entitled to enforce payment and performance of any indebtedness or
obligations secured hereby and to exercise all rights and powers under this Deed of
Trust or under any Loan Instrument or other agreement or any laws now or hereafter in
force, notwithstanding that some or all of such- indebtedness and obligations secured
hereby may now or hereafter be otherwise secured, whether by mortgage, deed of
trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of
Trust nor its enforcement whether by court action or pursuant to the power of sale or
other powers herein contained, shall prejudice or in any manner affect Trustee's or
Beneficiary's right to realize upon or enforce any other security now or hereafter held
by Trustee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of
them, shall be entitled to enforce this Deed of Trust and any other security now or
hereafter held by Beneficiary or Trustee in such order and manner as they or either of
them may in their absolute discretion determine. No remedy herein conferred upon or
reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy
herein or by law provided or permitted, but each shall be cumulative and shall be in
addition to every other remedy given hereunder or now or hereafter existing at law or in
equity or by statute. Every power or remedy given by any of the Loan Instruments to
Trustee or Beneficiary or to which either of them may be otherwise entitled may be
exercised, concurrently or independently, from time to time and as often as may be
deemed expedient by Trustee or Beneficiary and either of them may pursue
inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary
from seeking a deficiency judgment against the Trustor to the extent such action is
permitted by law.
15. REQUEST FOR NOTICE. Trustor hereby requests a copy of any notice of
default and that any notice of sale hereunder be,mailed to it at the address set forth in
the first paragraph of this Deed of Trust.
16. GOVERNING LAW. This Deed of Trust shall be governed by the laws of
the State of Nebraska. In the event that any provision or clause of any of the Loan
Instruments conflicts with applicable laws, such conflicts shall not affect other
provisions of such Loan Instruments which can be given effect without the conflicting
provision, and to this end the provisions of the Loan Instruments are declared to be
severable. This instrument cannot be waived, changed, discharged or terminated
orally, but only by an instrument in writing signed by the party against whom
enforcement of any waiver, change, discharge or termination is sought.
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17. RECONVEYANCE BY TRUSTEE. Upon written request of Beneficiary
stating that all sums secured hereby have been paid, and upon surrender of this Deed
of Trust and the Note to Trustee for cancellation and retention. and upon payment by
Trustor of Trustee's fees, Trustee shall reconvey to Trustor, or the person or persons
legally entitled thereto, without warranty, any portion of the Trust Estate then held
hereunder. The recitals in such reconveyance of any matters or facts shall be
conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be
described as "the person or persons legally entitled thereto".
18. NOTICES. Whenever Beneficiary, Trustor or Trustee shall desire to give or
serve any notice, demand, request or other communication with respect to this Deed of
Trust, each such notice, demand, request or other communication shall be in writing
and shall be effective only if the same is delivered by personal service or mailed by
certified mail, postage prepaid, return receipt requested, addressed to the address set
forth at the beginning of this Deed of Trust. Any party may at any time change its
address for such notices by delivering or mailing to the other parties hereto, as
aforesaid, a notice of such change.
19. ACCEPTANCE BY TRUSTEE. Trustee accepts this Trust when this Deed
of Trust, duly executed and acknowledged, is made a public record as provided by law.
IN WITNESS WHEREOF, Trustor has executed this Deed of Trust as of the
day and year first above written. _
lann L. Sibert, Trustee of the Diann L. Sibert
Revocable Trust, Trustor
STATE OF NEBRASKA )
ss.
COUNTY OF ADAMS )
On this /~? day of 1 ~~~'~`~'`' 2008, before me, the
undersigned Notary Public personally came Diann .. Sibert, Trustee of the Diann L.
Sibert Revocable Trust, to me known to be the identical person whose name is
subscribed to .the foregoing instrument and acknowledged the execution thereof to be
her voluntary act and deed.
,I~ GENERAL NOTARY - State of Nebraska / ~-~" ~(.~~~~
LES SEILER Nota Public
~~`- . ` My Camm. Exp, Apnl 8, 2010 ry
~:\DEEDSSDEEDS OF TRUST\DEED OF TRUST -Barrel Bar-Sibert.doc
SEILER & PARKER
P.C., L.L.O.
LAW OFFICES
726 EAST S[DE BLVD.
P.O. BOX 1288
HASTINGS, NE 68902
(402) 463-3125