|
WHEN RECORDED MAIL TO:
<br />FIVE POINTS BANK OF HASTINGS
<br />MAIN BANK
<br />2815 OSBORNE DRIVE WEST
<br />HASTINGS. NE 68901
<br />1111
<br />11111111111111111111111111111
<br />111111
<br />23
<br />-n
<br />rn
<br />C
<br />z
<br />r ttk
<br />II II11111111111N IIH11111111111111111
<br />111101
<br />111111111111111111
<br />111111
<br />* 000000000000018575034010272015*
<br />011111111111111111
<br />FOR RECORDER'S USE ONLY
<br />III
<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 October 27, 2015, among JENNIFER J STUTZMAN, whose
<br />address is 9320 N 132ND ST, OMAHA, NE 68142 and JAKE J STUTZMAN a /k/a JAKE
<br />STUTZMAN, whose address is 9320 N 132ND ST, OMAHA, NE 68142; WIFE AND HUSBAND
<br />( "Trustor "); FIVE POINTS BANK OF HASTINGS whose address is MAIN BANK, •2815
<br />OSBORNE DRIVE WEST, HASTINGS, NE 68901 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary "); and Five Points Bank of Hastings, whose address is 2815 Osborne
<br />Drive West, Hastings, NE 68901 (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 I@xisting 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 o the real property, including without
<br />limitation all minerals, oil, gas, geothermal and similar matters, (the " Property') located in HALL
<br />County, State of Nebraska:
<br />Lot One (1), Perfect Peace Farms Sub, Section Four (4), Township Nine (9) North Range
<br />Ten (10) West of the 6th P.M., Hall County, Nebraska, more particularly described in Joint
<br />- Tenancy Warranty Deed recorded as Document No. 201407268
<br />The Real Property or its address is commonly known as 5500 W PLATTE RIVER DR,
<br />DONIPHAN, NE 68832.
<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 IS GIVEN AND ACCEPTED ON
<br />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 />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 />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so
<br />long as this Deed of Trust remains a lien on the Property, used for the generation, manufacture, storage,
<br />treatment, disposal, release or threatened release of any Hazardous Substance in violation of any Environmental
<br />Laws. Trustor authorizes Lender and its agents to enter upon the Property to make such inspections and tests as
<br />Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust.
<br />
|