|
n-1 -1
<br /> mn' o OCD m
<br /> 0H w z N m
<br /> 7jo �0 0
<br /> �n 0 Z z cDi�
<br /> zD - _ o
<br /> w �-< 0 O D co
<br /> mmm D r-D
<br /> 0 0
<br /> CO
<br /> 0
<br /> WHEN RECORDED MAIL TO:
<br /> PINNACLE BANK
<br /> 180TH & WEST DODGE ROAD OFFICE
<br /> 18081 BURT STREET
<br /> OMAHA. NE 68022 FOR RECORDER'S USE ONLY
<br /> CONSTRUCTION DEED OF TRUST
<br /> THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br /> WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br /> THIS DEED OF TRUST is dated May 29, 2013, among GRAND ISLAND COUNTRYHOUSE, LLC,
<br /> A WYOMING LIMITED LIABILITY COMPANY, whose address is 2614 TELEGRAPH AVE,
<br /> BERKELEY, CA 94704 ("Trustor"); PINNACLE BANK, whose address is 180TH & WEST
<br /> DODGE ROAD OFFICE, 18081 BURT STREET, OMAHA, NE 68022 (referred to below
<br /> sometimes as "Lender" and sometimes as "Beneficiary"); and PINNACLE BANK, whose address
<br /> is PO BOX 540001, OMAHA, NE 68154 (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 2, MEDICAL PARK SEVENTH SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL
<br /> COUNTY, NEBRASKA.
<br /> The Real Property or its address is commonly known as 833 ALPHA STREET, GRAND ISLAND,
<br /> NE 68803. The Real Property tax identification number is 400061554.
<br /> CROSS-COLLATERALIZATION. In addition 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 guarantor, 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.
<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 advances 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 THIS DEED OF TRUST. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT
<br /> OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE
<br /> ANY AND ALL OF TRUSTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN
<br /> TRUSTOR AND LENDER OF EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN
<br /> AGREEMENT, OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF
<br /> DEFAULT UNDER 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 Note,this Deed of Trust, and the Related Documents.
<br /> CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334
<br /> and 2A-309 of the Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<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 />
|