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<br /> WHEN RECORDED MAIL TO: �^������
<br /> Bank of Clarks
<br /> Farrners State Bank,A Branch of Bank of Clarks
<br /> 2nd&Vine Street �
<br /> P.O.Box 246
<br /> Silver Creek NE 68663-0246 FOR RECORDER'S USE ONLY b��'
<br /> .�
<br /> CONSTRUCTlON DEEL? OF TRUST 1��
<br /> THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEME(VT
<br /> WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 548,500.00. ���
<br /> � :
<br /> THIS DEED OF TRUST is dated June 29, 2015, among RR&C, LLC, a Nebraska Limited Liability "
<br /> Company, whose address is P.O. Box 5122, Grand Island, NE 68802 ("Trustor"); Bank of k��
<br /> Clarks, whose address is Farmers State Bank, A Branch of Banlc of Clarks, 2nd & Vine Street, v�-:
<br /> � ,
<br /> P. O. Box 246, Silver Creek, NE 68663-0246 (referred to below sometimes as "Lender" and °��
<br /> sometimes as "Beneficiary"); and Bank of Clarks, whose address is 301 N. Green, P.O. Box
<br /> 125, Clarks, NE 68628-0125 (referred fo below as "Trustee"}.
<br /> CONVEYANCE AND GRANT. For valuable conside�ation, Trustor conveys to Trustee in trust, WITH POWER OF SALE,
<br /> ��
<br /> for the benefit of Le�der as Beneficiary, all of Trustor's right, title, and interest in and to the following described real -�;`:
<br /> property, together with al� 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 �=ti
<br /> ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, inc�uding without �:�';
<br /> limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall County,
<br /> State of Nebraska: ,�
<br /> Lot Seven (7), Block Five (5), Wiebe's Addition to the City of Grand Island, Hall County, �''
<br /> Nebraska. �
<br /> The Real Property or its address is comrnonly known as 610 W. John Street, Grand Island, NE
<br /> 68801. ��
<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 �,"i�
<br /> the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, deterrnined or undetermined,
<br /> absolute or contingent, liquidated or unliquidated, whether Trustor may 6e liable individually or jointly with others,
<br /> whether obligated as guarantor, surety, accommodation party or otherwise, and wMether 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; however, in no event shall such future advances (excluding interest) exceed �
<br /> in the aggregate 546,500.00, t`�
<br /> Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) alI 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 y'
<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) PAYIV�ENT OF THE INDEBTEDNESS AND IBl PERFORMANCE OF
<br /> ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND TNIS 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 /> 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 /> ��;.:
<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 /> ;��
<br /> Possession and Use. Until the occurrence of an Event of Default, Trustor rnay (1) remai� in possession and
<br /> control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents from the Property. �:��';
<br /> Dut to Maintain. Trustor shall maintain the Pro ert in tenantable condition and rom tl erform all re airs, ��
<br /> Y P Y p P Y p P �,-
<br /> replacemerts, and maintenance necessary to preserve its value. ,���;
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