|
. '
<br />-
<br />��
<br />�
<br />e �
<br />� �
<br />0 ��
<br />� -
<br />�
<br />W ,�
<br />-
<br />-
<br />-
<br />�
<br />�
<br />���'
<br />�
<br />� �
<br />r �� �
<br />r. � O � �
<br />_ � C � N �
<br />� � � �� -.� r^ O �
<br />r ��i.� r �. � ' �=-� --< v �...+ �'y�
<br />� � � 1 I_._ � � y jV �
<br />n� '�-:-> , o�tl
<br />� -) . — � � `� e �
<br />�` � v i � �'� f v C;;O �-
<br />,,, � � v �
<br />G') � �
<br />�n e� Is "`� G� y F-"'
<br />�� '' �� .. I- � �� � �
<br />f.�' 1 �
<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />Allen Drive Branch
<br />1204 Allen Dr
<br />PO Box 5793
<br />Grand Island NE 68802 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />�� THIS DEED OF TRUST is dated October 3, 2012, among Jay W Lee and Marcia L Lee, Husband
<br />�, and Wife ("Trustor"1; Exchange Bank, whose address is Allen Drive Branch, 1204 Allen Dr, PO
<br />'� Box 5793, Grand Island, NE 68802 (referred to below sometimes as "Lender" and sometimes
<br />�� as "Beneficiary"); and Exchange Bank , whose address is PO Box 5793, Grand Island, NE
<br />�, ; 68802 (referred to below as "Trustee").
<br />�:
<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 all existing, or subsequently erected or affixed buildings, improvements and fixtures; all
<br />�;? easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with
<br />ditch or irrigation rightsl; and all other rights, royalties, and profits relating to the real prope , including without
<br />limitation all minerals, oil, gas, geothermal and similar matters, (the ° Reel P1'Operty IOCet�� In Hall COU�ty,
<br />State of Nebraska:
<br />Lot Seven (7), O'Neill Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 1216 S Lincoln, Grand Island, NE
<br />68801.
<br />CROSS-COLLATERALIZATION. in eddition to the Note, this Deed of Trust secures all obligations, debts and liabilities,
<br />plus interest thereon, of Trustor to Lender, or any one or more of them, as well as all claims by Lender against Trustor
<br />or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of
<br />the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined,
<br />absolute or contingent, liquidated or unliquidated, whether Trustor may be liable individually or jointly with others,
<br />whether obligated as guerantor, surety, accommodation party or otherwise, and whether recovery upon such amounts
<br />may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts
<br />may be or hereafter may become otherwise unenforceable. If the Lender is required to give notice of the right to cancel
<br />under Truth in Lending in connection with any additional loans, extensions of credit and other liabilities or obligations of
<br />Trustor to Lender, then this Deed of Trust shall not secure additional loans or obligations unless and until such notice is
<br />given.
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without limitatlon, a revolving
<br />line of credit, which obligates Lender to make advances to Trustor so long as Trustor complies with all the terms of the
<br />Note.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor
<br />whether or not the adyances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust
<br />secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to
<br />Trustor, together with all interest thereon.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and
<br />interest in and to all present and future leases of the Property and all Rents from 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, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br />PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF
<br />ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shell pay to Lender all
<br />amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of
<br />Trustor's obligations under the Note, this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the
<br />Property shall be governed by the following provisions:
<br />Possession and Use. Until 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 tenantable 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 that: (1) During the period of
<br />Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, 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 previously disclosed to and
<br />�\\�
<br />�� `�
<br />�
<br />
|