|
WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />GI - Allen Drive Branch
<br />1204 Allen Dr
<br />PO Box 5793
<br />Grand Island, NE 68802
<br />v1
<br />rn
<br />-n
<br />C
<br />z
<br />ri
<br />X z
<br />2 :' >
<br />m v r-
<br />i$ r -
<br />TAI cn
<br />9
<br />r
<br />r-j
<br />n�
<br />-c
<br />-��
<br />C.A)
<br />CD
<br />FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated November 21, 2014, among MARY I WETHERILT, A Single
<br />Person ( "Trustor "); Exchange Bank, whose address is GI - Allen Drive Branch, 1204 Allen Dr,
<br />PO Box 5793, Grand Island, NE 68802 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary "); and Exchange Bank, whose address is PO Box 397, Kearney, NE
<br />68848 (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 />THE NORTHERLY FIFTY -TWO (52) FEET OF LOT FIVE (5), IN BLOCK SIX (6), IN
<br />WINDOLPH'S ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 515 S LINCOLN AVE, GRAND
<br />® ISLAND, NE 68801. The Real Property tax identification number is 400139766.
<br />'y- 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 />a Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the limitation that
<br />l) the total outstanding balance owing at any one time, not including finance charges on such balance at a fixed or
<br />rn variable rate or sum as provided in the Credit Agreement, any temporary overages, other charges, and any amounts
<br />,..4 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 />4.15
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and
<br />7C! interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Trustor
<br />C grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents.
<br />nil ▪ THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br />VI PERSONAL PROPERTY, IS GIVEN TO SECURE (A) 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 />v amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of
<br />�j� V.\ 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 reason 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 (3) Except as previously
<br />disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other
<br />authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous
<br />Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with
<br />all applicable federal, state, and local laws, regulations and ordinances, including without limitation all
<br />N
<br />CD
<br />—C
<br />0
<br />Cr)
<br />CA)
<br />9G.
<br />
|