|
m
<br /> � � N p� �
<br /> m"' � cD m
<br /> � � n� � N zm N m
<br /> o �o � , C �O � D
<br /> 6' � �� O r �z N cn
<br /> � Tj m � D� � �
<br /> r
<br /> � �
<br /> �
<br /> m� mp � � rCDfi O C
<br /> - �o Cn � �
<br /> c^'� � m
<br /> N
<br /> 0 0 � � �
<br /> � Z
<br /> O
<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue Branch
<br /> PO Box'160
<br /> Grand Island.NE 68802-0760 FOR REGORDER'S USE ONLY
<br /> DEED OF TRUST
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $9,200_00.
<br /> THIS DEED OF TRUST is dated July 20, 20'12, among PAUL E SULLIVAN, whose address is
<br /> 9392 S SHADY BEND RD, DONIPHAN, NE 688329543 and AMANDA 1 SULLIVAN, whose
<br /> address is 9372 S SHADY BEND RD, DONIPHAN, NE 688329543; HUSBAND & W{FE
<br /> ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO Box 760, Grand island,
<br /> NE 68802-0160 (referred to belovv sometimes as "Lender" and sometimes as "Beneficiary");
<br /> and Equitable Bank (Grand Island Region), whose address is '1 73-1 76 N Locust St; PO Box 760,
<br /> Grand Island, NE 68802-0760 (referred to E�elow as "Trustee")_
<br /> CONVEYANCE AND GRANT. For valuable consideration,Trustor conveys to Trustee in trust, WITH POWER OF SALE,
<br /> for the benefit of Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real
<br /> property, together with aIl existing or subsequently erected or affixed buildings, improvements and fiMures; all
<br /> easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with
<br /> ditch ot irrigation rights); and all other rights, royalties, and profits relating to the real property, including without
<br /> limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HALL
<br /> County, State of Nebraska-
<br /> LOT ONE (7) OF SULLIVAN SUBDIVISION ACCORDING TO THE PLAT RECORDED APRIL
<br /> 30, 2003, AS INSTRUMENT #200305373, RECORDS OF HALL COUNTY, NEBRASKA
<br /> The Real Property or its address is commonly known as 9312 S SHADY BEND RD. DONIPHAN,
<br /> NE 688329543_ The Real Property tax identification number is 400415801_
<br /> REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without IimitaYion, a revolving
<br /> line of credit,which�obligates Lender to make advances to Trustor so long as TrusYor complies with�all the terms of the
<br /> Gredit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the limitation that
<br /> the total outstanding balance owing at any one time, not induding finance ctiarges on sucti balance at a fixed or
<br /> variable rate or sum as provided in the Credit Ag�eement, any temporary overages, othar charges, and any amounts
<br /> expended or advanced as provided in either the Indebtedness paragraph or this paragraph, shall not exceed the Credit
<br /> Limit as provided in the Credit Agreement. It is the intention of Trustor and Lender that this Deed ofi Trust secures the
<br /> balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit as provided in the
<br /> Credit Agreement and any intermediate balance_ �
<br /> Trustor presently assigns to Lender (also known as Beneficiary in this Deed of TrusU aIl of Trustor's right,. title, and
<br /> interest in and to all present and future leases of the Property and all Rents f�om the Property. In addition, Trustor
<br /> grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents.
<br /> THIS DEED OF TRUST, INCWDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br /> PERSONAL PROPERTY, IS GIVEN TO SECURE tA) PAYMENT OF THE INDEBTEDNESS AND iB) PERFORMANCE OF
<br /> EACH OF TRUSTOR'S AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED
<br /> DOCUMENTS. AND THIS DEED OF TRUST_ THIS DEED OF TRUST IS GIVE11t AND ACCEPTED ON THE FOLLOWING
<br /> TERMS:
<br /> PAYMENT AND PERFORMANCE. F�ccept as othetwise provided in this Deed of Trust, Trustor shall pay to Lender aII
<br /> amounYs secured by this Deed of Trust as they beco:me due, and shall strictly and in a timely manner perform all of
<br /> Trustor's obligations under the Credii Agreement,this Deed of Trust, and the Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use ofi the
<br /> Property shall be governed by the following provisions:
<br /> Possession and Use. Unvl the occurrence of an Event of Default, Trustor may (1) remain in possession and
<br /> control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br /> Duty. to Maintain. Trustor shall maintain the Property in good condition and promptly perform all repairs,
<br /> replacements, and maintenance necessary to preserve its value.
<br /> Compliance With Environmental Laws. Trustor represents and warrants to Lender thai: (1) During ihe period of
<br /> Trustor`s ownership of the Property,there has been no use, generation, manufiacture,storage,treaiment, disposal,
<br /> release or threatened release of any Hazardous Substance by any person on, under, about or from the Property;
<br /> (2) Trustor has no knowledge of, or reason to believe that there has been�, except as previousfy disclosed to and
<br /> acknowledged by Lender i�n� writing� (a) any breach or violaYion of any Environmental Laws, (b) any use,
<br /> generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br /> on, under, about or from the Property by any prior owners ar occupants of the Property, or (c) any actual or
<br /> threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously
<br />
|