|
�
<br />-
<br />-
<br />��
<br />e �
<br />� ��
<br />N �
<br />0 -
<br />� —
<br />�
<br />N =
<br />�
<br />-
<br />-
<br />��
<br />_�
<br />��
<br />�
<br />� �
<br />� � �
<br />�
<br />� �
<br />�
<br />r-.�
<br />� �;
<br />� _�
<br />Y ��
<br />D _
<br />r ,—
<br />r a�� � �
<br />o ,�; •
<br />n�
<br />x, ��=-- (`V
<br />ni ` . ,
<br />LJ �
<br />�� �
<br />—t �
<br />r�,
<br />._-
<br />n �� ��
<br />�� ,.
<br />��
<br />� �
<br />� � �
<br />� � ._ �
<br />n �
<br />O -�
<br />C A
<br />� m
<br />--�
<br />"� o
<br />o �
<br />' �
<br />_,_ rn
<br />D Cn
<br />r �
<br />r �
<br />v�
<br />�
<br />v
<br />�
<br />�
<br />WFiEi� RECORDED MAIL TO: -
<br />CORNERSTONE BANK
<br />� , p Albion Facility
<br />a�� 240 South 3rd Street
<br />� P.O. Box 471
<br />Albion, NE 68620-0471 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated October 3, 2012, among Dana A Labenz and Cynthia F Labenz;
<br />Husband and Wife 1"Trustor"); CORNERSTONE BANK, whose address is Albion Facility, 240
<br />South 3rd Street, P.O. Box 471, Albion, NE 68620-0471 (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary"); and CORNERSTONE BANK, whose address is 529
<br />LINCOLN AVENUE, YORK, NE 68467 (referred to below as "Trustee"1.
<br />CONVEYANCE AND GRANT. For valuable consideretion, 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 foliowing described real
<br />properry, together with all existing or subsequently erected or affixed buildings, improvements and fi�ctures; 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 "Real Property IOCete in Hall County
<br />State of Nebraska:
<br />Lot Eight (8), in Ravenwood Subdivision, in Hall County, Nebraska
<br />The Real Property or its address is commonly known as 537 Ravenwood Ct, Grand Island, NE
<br />68801-8614.
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without limitation, a revolving
<br />line of credit, which obligates Lender to make advances to Borrower so long as Borrower complies with all the terms of
<br />the Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the limitation
<br />that the total outstandtng balance owing at any one tlme, not including finance charges on such balance at a fixed or
<br />variable rate or sum as provided in the CredFt Agreement, any temporary overages, other charges, and any amouMs
<br />expended or advenced 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 internion of Trustor and Lender that this Deed of 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 intermediete balance.
<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 tha 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 />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 GIVEN AND ACCEPTED ON THE FOLLOWING
<br />TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at
<br />Borrower's request and not at the request of Lender; (b) Trustor has the full power, right, and euthority to enter into
<br />this Deed of Trust and to hypothecate the Property; (c) the provisions of this Deed of Trust do not confiict with, or
<br />result in a default under any agreement or other instrument binding upon Trustor and do not result in a violation of any
<br />law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of obtaining
<br />from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no
<br />representation to Trustor about Borrower (including without limitation the creditworthiness of Borrowerl.
<br />TRUSTOR'S W1�IVERS. Trustur waives all rights or defenses arising by reason of any "one action" or "anti-deficiency"
<br />law, or any other law which may prevent Lender from bringing any action against Trustor, including a claim for
<br />deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br />or completion of any foreclosure action, either judiclally or by exercise of e power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all
<br />Indebtedness secured by this Deed ot Trust as it becomes due, and Borrower and Trustor shall perform all their
<br />respective obligations under the Credit Agreement, this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's
<br />possession and use of the 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: (1) During the period of
<br />N
<br />O
<br />h-+
<br />1�
<br />C7
<br />�
<br />00
<br />t--+
<br />N
<br />�� ��
<br />
|