|
t
<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />Allen Drive Branch W
<br />1204 Allen Dr
<br />PO Box 5793
<br />Grand Island, NE 68802
<br />i
<br />!Pi r> Z
<br />n ct
<br />pc el rl
<br />ri 132i v►
<br />r'i',
<br />i 7;
<br />FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated October 9, 2014, among Shirley M. Sterkel, not personally but
<br />as Trustee on behalf of Shirley M. Sterkel Revocable Trust ( "Trustor "); Exchange Bank, whose
<br />address is Allen Drive Branch, 1204 Allen Dr, PO Box 5793, Grand Island, NE 68802 (referred
<br />to below sometimes as "Lender" and sometimes as "Beneficiary "); and Exchange Bank
<br />whose address is PO Box 5793, Grand Island, NE 68802 (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 County,
<br />State of Nebraska:
<br />Parcel A:
<br />Fractional Lot 3 in Fractional Block 3 in the Original Town, now City of Grand Island,
<br />Nebraska, and its complement, to -wit; Fractional Lot 3, in Fractional Block 3, in Nagy's
<br />Addition to the City of Grand Island, Nebraska, excepting the Westerly Ten (10) Feet
<br />thereof. (409 East 7th Street)
<br />Parcel B:
<br />Lot Three (3), Block One Hundred Thirty -Three (133), Koenig and Wiebe's Addition to the
<br />City of Grand Island, Hall County, Nebraska. (1115 West Koenig Street)
<br />Parcel C:
<br />Lot Six (6), Block Ten (10), in Russel Wheeler's Addition to the City of Grand Island, Hall
<br />County, Nebraska.
<br />The Real Property or its address is commonly known as 409 East 7th Street; 1115 West
<br />Koenig Street; 903 - 905 - 907 -909 N Vine Street, Grand Island, NE 68801. The Real Property
<br />tax identification number is 400000024; 400057336; 400120143.
<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 />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 />Note.
<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 THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING 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 />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 />
|