|
m
<br /> � � N p� �
<br /> m"' � cD m
<br /> � � n� � N zm N m
<br /> o �o � . O �O o 0
<br /> � � o c� p C� O z N cDi�
<br /> Z D � Z
<br /> o�o � G�� „ � =m O�O
<br /> j � cs D 00 (.y� �'
<br /> �A m �Z7 � �
<br /> � �o p � � r� pp C
<br /> � W� � �
<br /> m
<br /> �� o � �
<br /> � O
<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue�Branch
<br /> PO Box 760
<br /> Grand Island.NE 68802-0160 FOR RECORDER'S USE ONLV
<br /> DEED OF �'RUST
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 560,000.00.
<br /> THIS DEED OF TRUST es dated October 9, 2012, among DOUGLAS R STAINGE, whose address
<br /> is 708 E BISMARK RD, GRAND ISLAND, NE 68801 and NANCY A STANGE, whose address is
<br /> 708 E BISMARK RD, GRAND ISLAND, NE 65809; Husband and Wife, as joint tenants and not
<br /> as tenants in common ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO
<br /> Box 160, Grand Island, NE 68802-0160 (referred to below sometimes as "Lender" and
<br /> sometimes as "Beneficiary")� and Equitable Bank (Grand Island Region), whose address is
<br /> 713-775 N Locust St; PO Box 160, Grand Island, NE 68802-0160 (r�ferred to below as
<br /> "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.. all existing or subsequently erected or affixed buildings, improvements and fiixtures; all
<br /> easements, rights o'f way, and appurtenances; afl water, water rlghts and ditch rights Gnduding stock in utilities with
<br /> ditch or irrigation rights); and all other rights, royalties, and profiits relating to the real property, including without
<br /> limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall County,
<br /> State of Nebraska:
<br /> LOTS TWO (2) AND TFiREE (3) IN GRACE LUTHERAN CHURCHI SUBDIVLSION AN
<br /> ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASOCA
<br /> The Real Property or its address is commonVy known as 708 E Bismark Rd, Grand Island, 11lE
<br /> 68807. The Fieal Property tax identification number is 400136791.
<br /> REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including. without IimitaYion, a revolving
<br /> line of crediY, which obligates Lender to make advances to Trustor so long as Trustor compties with all the terms of the
<br /> Credit Agreement. Such advances may be made. repaid.and remade from time to time_ subject to the limitatiion that
<br /> the total outstanding balance owing at any one time, not inctuding finance charges on s�nch balance at a fixed or
<br /> variable rate or sum�as provided in the Credit AgreemeM. any temporary overages, other elharges, and any amounts
<br /> expended or advanced as provided in either the Indebtedness paragraph or this paragraph� shatl not exceed the Credit
<br /> Limit as provided in the Credit Agreement. It is the intention of Trustor and Lender that this Deed of Trust secures the
<br /> balance outstanding under tMe Credit Agreement from time to time from zero up to the Cred"nt 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 Trust) all of TrustoY'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 WTEREST IN THE RENTS AND
<br /> PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF
<br /> EACH OF TRUSTOR'S AGFfEEMENTS AND 08LIGATIONS UN:DER THE CREDIT AGREEM.ENT, THE RELATED
<br /> DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEIV AND ACCEPTED ON THE FOLLOWWG
<br /> TERMS:
<br /> PAYMENT AND PERFORMANCE. Excep# as otherwise provided in this Deed of Trust, Trustor shall 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 Credit Agreement,thfs Deed of Trust, and the Related Documenis.
<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 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 that: ("I) During the period of
<br /> Trustor's ownership of the Property,there has been no use,generetion, manufacture,storage,treatment, disposal,
<br /> release or th�eatened release ofi any Hazardous Substance by any person on, under, about or from the Property;
<br /> (2) Trustor has no knowledge ofi, or reason to believe that there has been, excepY as previously disclosed to and
<br /> acknowledged by Lender in writing, (a) any breacn or violation of any Environmental Laws, (b) any use,
<br /> generation, manufacture, storage,. treatment, disposal, release or tnreatened release ofi any Hazardous Substance
<br /> on, under, about or from Yhe Property by any prior owners or occupants of the Property, or (c) any actual or
<br />
|