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<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue Branch
<br /> PO Box '160
<br /> Grand Island,.NE 68802-0160 FOR RECORDER'S USE ONLY
<br /> DEED OF TRl9ST
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $56,OOOAO_
<br /> T1i1S DEED OF TRUST is dated November 1, 20'0 2� among PATRICK C LARSON, whose
<br /> address is 1304 HARDY ROAD, SAINT PAUL, NE 68873 and ALISON M LARSON, whose
<br /> address is 1304 HARDI' ROAD, SAINT PAUL, NE 68873; Husband and Wife ("Trustor");
<br /> Equitable Bank, whose address is Diers Avenue �ranch, PO Box 9 60, Grand Island, NE
<br /> 68802-0760 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br /> Equitable Bank (Grand Island Region), whose address is 713-775 N Locust St; PO Box 760,
<br /> Grand Island, NE 68802-0160 (referred to below 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; togettier with all existing or su6sequently erected oV affixed buildings, improvements and fixtures; all
<br /> easements, rights of way, and appurtenances; al.l water, water rights and ditch rights (induding stock in utilities with
<br /> ditch or irrigation rights); and all other rights, royalties, and profits relati�ng 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 /> LOTS FOFiTY EIGHT (48) AND FQRTY NINE (49)� HAGGE'S SUBDNISION, TO THE CITY
<br /> OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br /> The Real Property or its address is commonly knowrn as 7314 HAGGE A\/E, GRAND ISLAND,
<br /> NE 68807_ The Real Property tax identification number is 400041812_
<br /> REVOLVING LINE OF CREDIT. This Deed of Trust secuies the Indebtedness including, without limitation. a. revolving
<br /> line of credit,which obligates Lender to make advances to Trustor so long as Trustor complies with alt the terms of the
<br /> Credit Agreement. Such advances may be made. repaid. and remade from time to time, subject to the limitation that
<br /> the tatal outstanding balance� owing at any one time. not including finance charges on. such balance at a fixed or
<br /> variable rate or sum as provided in the Credit Agreement, any temporary overages. other 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 ofi Trustor and Lender that this Deed of Trust secures the�
<br /> 6alance outstanding under the Credit Agreement from time to time from zero up to the CrediY Limit as provided in the
<br /> Credit Agreement and any intermediate balance.
<br /> Trustor presently assigns to Lender (also known as Benefici�ary in this Deed of Trust) all of Trustor's right, title, and
<br /> interest in and to all present and future leases ofi the Property and all Rents from the Property. In addition, Trustor
<br /> grants to Lender a Uniform Cornmercial Code security interest in the Personal Property and Rents.
<br /> THIS DEED OF TRUST, INCLUDWG THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br /> PERSONAL PROPERTY, IS G1VEN TO SECURE (A) PAVMENT 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 /> PAYMENT AND PERFORMANCE. Except as otherwise provided 'on ihis Deed of Trust, Trustor shall pay to Lender all
<br /> amounts secured by this Deed of Trust as they become due, and shall stricily and in a timely manner perform all of
<br /> Trustor's obligations under the Credit Agreement,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 /> Proper[y shall be govemed by the following provisionsr.
<br /> Possession and Use. Until the occurrence ofi an Event of Defiault, Trustor may ('I) 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 Witt� Environmental Laws_ Trustor represents and warrartts to Lender that: ("I) During the period of
<br /> Trustor's ownership of the Property,there has been no use, generetion, manufacture, storage, tireatmeni, d�isposal,
<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 /> acknowledged by Lender in writing, (a) a�ny breach or violation ofi any Environmental Laws, (b) any use,
<br /> generation, manufiacture,. storage, treatment, disposal, release or threaiened release of any Hazardous�Substance
<br /> on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br /> threatened Iitigation or ctaims of any kind by any person relating to such matters; and (3) 6ccept as previously
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