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<br /> WHEN RECORDED MAIL TO:
<br /> �quitable Ban&
<br /> Diers Avenue Branch
<br /> PO Box 16Q
<br /> Grand lsland. 11fE 68802-0180 FOR RECORDEH'S lJSE OhElY
<br /> CONSTRUCTION DE�D OF TRUST
<br /> THIS �EED OF TRUST IS A CONSTR[3CTION SECUR€TY AGREEMENT
<br /> WITHIN THE MEANING OF TME NEBRASKA CONSTRUCTION LIEN ACT
<br /> MAXIMUM L1EN. The lien of this Deed of Trust shall not exceed at any one #ime �175,000.00.
<br /> THIS DEED OF TRUST is dated June 25, 2014, amang TOMMY L UMMEL JR, whose address is
<br /> 1507 W 9ST ST, GRAND ISLAND, NE 68801 and CARY K UMMEL, whose acldress is 'i507 W
<br /> 1ST ST, GRAlVD 1SLAND, NE 68801; HUSBAND AND WIFE {"Trustor"}; Equitable Bank,
<br /> whose address is Diers A�enve Branch, PO Box '160, Grand Island, N� 68$02-0160 (referred
<br /> to below sometimes as "Lender" aRd somefimes as "Beneficiary"}; and Equitable Bank fGrand
<br /> Island Region}, whose atEdress is '113-915 N Locust 5t, PO Box 160, Grand [sland, NE
<br /> 688Q2-D1E0 (re#erred to below as "Trustee"},
<br /> CONVEYAf�CE AND GRAI�T. For valaable coRsideration, Trustor conveys to Trustee in trust, WI7H POWER OF SALE,
<br /> for the benefit of Lender as Beneficiary, al[ 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; ap
<br /> aasements, rights of way, and appurtenances; all water, water rights and ditch rights {including stock in utilitiss with
<br /> ditch ar irrigation rights); and al] other rights, royalties, and profits re]ating to the reaf propeny, including withaut
<br /> limitation all minerals, ail, gas, geotE�ermal and similar matters, (the "Real PrOp�l'fy"] located 'In HALL
<br /> County, Sta#e of Nebraska: �
<br /> Lot Two i2). l�mmel Subdi�isioR an Addition to the Ciiy of Grand Island, Hall County,
<br /> Nebrasica.
<br /> ANb
<br /> Fractional Lot Two (2), in Fractional �lock Twenty {20), in Kerohan & Decker's Addition to
<br /> fihe City of Grand tsland, HaII County, Nebraska, and its comptement, to-wit: Fractional Lot
<br /> Two (2}, in Fractional Blcok Twenty [20}, of PaImer's Subdi�sion of Lot Seven (7), of the
<br /> Caunty Subdi�ision of the Southeast Quarter of the Southwest Quarter {SE114SW114} of
<br /> Section Sixteen [16}, in Township EleveR (11} Narth, Fiange Nine (9) West of the 6tt� P.M.,
<br /> HaII County, Nebraska.
<br /> The Real Property or its address is commoniy known as �39 S SHADY BEND RD & 'I507 W
<br /> 1ST S7, GRAND ISLAND, NE 68803. The Real Property tax identification number is
<br /> 40�35Q750 & 40d0522'[0.
<br /> Trustor presently assigns to Lender ;also known as @eneficiary in this Deed of Trust} all of 7rustor's right, title, and
<br /> interest in and to all present and future leases of the Prvperty and al! Rents from the Property. In addition, 7rustor
<br /> grants to Lender a Uniform Commercial Cade security interest in the Parsona] Property and Rents.
<br /> THIS DEED OF SFiUST, lNCLUDING THE ASSIGNMENT OF RENTS ANb 7HE SECUR[TY If�lTEREST 1N THE RENTS AND
<br /> PERSONAL PROPFRTY, IS GIVEN TQ SECURE [A) PAYMENT OF THE [l1IDEBTEE3NES5 AIVb (B) PERFORMANCE OF
<br /> ANY A[�Ip ALL QBL[GAT[OIVS fJNDER THE IVdTE, THE RElATED I�OCUMENTS, ANQ THIS DEED OF TRUS7. TH[S
<br /> DEE� OF TRUST, INGLUR1111G TFiE ASSIGNII�ENT OF RENTS AND TI-IE SECUR[7Y I[1[TEREST 1N THE RENTS AND
<br /> PERSaNAL PROPERTY, 1S ALSO GIVEN TO SECURE AIVY AND A!L OF TRUSTOR'S OSLfGATIONS U[�[DER THAT
<br /> C�RTA[N CONSTRUCT[DN LOAN AGREEMENT B�TWEEfV TFiUSTOR ANb LENDER Ofr EVEN DATE HEREWITH. ANY
<br /> EVENT DF DEFAULT UNDER THE CONSTRLlCTION LOAN AGREEMEfVT, OR ANY OF THE FiELATED DOCUIVtENTS
<br /> REFERRED TO THEREfl1[, SHALE ALSO BE Al� EVENT QF DEFAUL7 UNDER THfS DEED OF TRUST. TH[S i7E�D �F
<br /> TRLIST 1S GIVEfY A1VD AGCEPTED QN THE FOLLOW[NG TEREUIS:
<br /> PAYMENT A[�D PERFdRMANCE. F�ccept as otherwise provided in this Deed of Trust, Trustor shal! pay to Lender al!
<br /> amounts secured by this Deed of Trust as they become due, and sha[I strictEy and in a timely manner perform afl of
<br /> Trustor's obligations under the Nate,this Deed of Trust, ar�d the Related Documents.
<br /> C�EVSTRUCTiON IViOR'�GAGE. This Deed of 7rust is a "construction mortgage" for the purposes of Sections 9-334
<br /> and 2A-309 of the lJniform Commercial Code, as those seciions ha�e been adopted by the S#ate of Nebraska.
<br /> POSSESSION AI�D MIaINTEkVANCE OF THE ?ROPERTY_ Trustar agrees that Trustor's possession and use of the
<br /> Property shall be governed by the fo[lowing pravisions:
<br /> Passession and Use. Until t[�e occurrence of an Evenx of Default, Trustor may (1} remain in possession anc[
<br /> contro[of the Properry; (2} use, operate or manage the Property; and (31 collect the Rents from the Property.
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