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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 TRUST
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time$20,100.00.
<br /> THIS DEED OF TRUST is dated December 26, 2012, among KELLY J CLAPP, AN UNMARRIED
<br /> PERSON, whose address is 927 CENTRE ST, GRAND ISLAND, NE 68803 and LINDA K
<br /> OAKLEY, AN UNMARRIED PERSON, whose address is 927 CENTRE ST, GRAND ISLAND, NE
<br /> 68803 ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO Box 160, Grand
<br /> Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as
<br /> "Beneficiary"); and Equitable Bank (Grand Island Region), whose address is 113-115 N Locust
<br /> St; PO Box 160,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, 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 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 TEN (10), SPRINGDALE SECOND SUBDIVISION, IN THE CITY OF GRAND ISLAND,
<br /> HALL COUNTY, NEBRASKA
<br /> The Real Property or its address is commonly known as 927 CENTRE ST, GRAND ISLAND, NE
<br /> 68803. The Real Property tax identification number is 400494905.
<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 Trustor so long as Trustor complies with all 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 total 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 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 intermediate 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 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 IAI 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 /> PAYMENT AND PERFORMANCE. Except 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,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 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 /> 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 mason to believe that there has been,except as previously disclosed to and
<br /> acknowledged by Lender in writing, (a) any breach or violation 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 or 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 (31 Except as previously
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