|
rn
<br /> m � � �
<br /> rnm � y rn
<br /> o �� � � �rn � rn
<br /> �, �o rn � � o
<br /> o �z � � z� � �
<br /> � �� � C �Z �7 U]
<br /> 1, z� � � �rn � —
<br /> � �� � � �ov � cn
<br /> rn� rn � �� � �
<br /> rn� � � =c�r� � c
<br /> �o � � � �
<br /> cr� r�
<br /> �� � �.�. rn
<br /> o� � � �
<br /> � (1]
<br /> � Z
<br /> �
<br /> INHEN F�EC�RDED MA�L TQ:
<br /> Ex�hange Benk
<br /> �I-Allen Drive Brench
<br /> '�2�4 Allen Dr
<br /> PD Bvx 5793
<br /> Gr�nd Island NE fi$SDZ FaR REC�RDER'S IJSE�NLY
<br /> C�NSTRU�TI�N DEED �F TRUST
<br /> THIS DEED DF TRUST IS A C�NSTRU�TI�N SECURITY AGREEMENT
<br /> WITHlN THE MEANIN� �F THE NEBRASKA C�NSTRUCTI[�N LiEN ACT
<br /> THIS DEED DF TRUST is dated August �3, ��7 C, among TiM � PLATE. A Single Person and
<br /> CURT L RATLIFF. A Single Pers�n t"Trustor"�; Exchange Bank, whose address is G! - AIlen
<br /> Dri�e BranGh, '12�4 A�len Dr. R� Bvx 5793, Grand Island. NE CS8�2 �referr�d to below
<br /> sometimes �s "Lender" and sometime� as "Benefi�iary"y: and Exchange Bank, whase address �s
<br /> P�B 76D. Gibbon, NE 5884� �referred to below as "Trustee"�.
<br /> C�NVEYANCE AND GRANT. For�aluable con�ider�t�on.Trustor con�sys to Trus#ee in trust, WITH P�WER �F SALE,
<br /> for ths bsnefit af Lender as Bane�rc�ary, al� of Trustor's right, title, and interest �n and #o the following descrihed reel
<br /> property, together with all existing or subsequently erected vr affixed huildings, impra�ements and fixtures; afl
<br /> easemen�s. rights ❑f way, and appurtenances; all water. water rights and ditch rights �Encluding stock in utilities with
<br /> ditch ar irrigation rightsf; and a!� ather rights, royalties, and profits relatin tv the rea! praperty. including without
<br /> limitation all minerals, oil, gas, g�othermal and similar matters, �the "R�al ��Dp "� lacated �n Hafl Coun .
<br /> �Y tY
<br /> State of Nebraska:
<br /> Lot Three �3�. Westwvod Park Thirt�enth Subdi�ision, in the City of Grand �sland, Hail
<br /> Caunty. Nebraska
<br /> The Rea! Property or its address is commanly known as 5'f� Redwood Raad, Gr�nd Island, NE
<br /> 58��3.
<br /> CR�SS-C�LLATERALIZATlDN. In addition #o the Note, this D�ed of Trust secures a�l vbligativns, dehts and �iabilities,
<br /> plus interest thereon. of Trustar to Lender, or any one or mvre of them, as we11 as all cla�ms by Lender against Trustor
<br /> or any ane ❑r mvre o�them, whethe� now existing vr hereafter arising, whether related or unrelat�d to the purpose of
<br /> the Note, whether �oluntary or ❑therwise� whether due or not due, direct or indirect� determined or undetermined.
<br /> absolute or contingent, liquidated or unliquidated. whether Trus#or may be iiable indi�idually or jointly with others,
<br /> whether obligated as guarantor, sure#y, ac�ommvdation party vr vtherwise, and whether rgco�ery upon such amvunts
<br /> may be ar hereafter may become barred by any statute❑f limitations, �nd whether the ab�igation to rspay such amounts
<br /> may be❑r h�r�after may became atherwise unenfarceahle.
<br /> FUTUftE ADVANCES. In addition to the Note, this�eed o#Trust secures all tuture ad►►ances made hy Lender to Trustor
<br /> whether ❑r not the ad�ances are made pursuent to � commitment. 5pe�ifiically, withvut limitatian, this Deed of Trust
<br /> se�ures, in additivn to the amounts specified in the Note, all future amounts Lender in its discre#ivn may Ioan #o
<br /> Trustor, together with all intersst th�reon.
<br /> Trus#vr presen�ly assigns to Lender {also knawn as Beneficiary in this Deed of Trust� all of Trustor's ri�ht, title, and
<br /> interest in and to all present and future leases of the Prop�rty and ali Rents from the Praper#y. In addition, Trustor
<br /> grants to Lgnder a Uniform Commercial Code security interest in the Personal Praperty and Rents.
<br /> TH�S DEED�F TRUST, INCLUDING THE ASSIGNMENT UF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br /> PERSDNAL PR�PERTY. IS GIVEN T� SECURE �A) PAYMENT�F THE INDEBTEaNE5S AND �6f PERF�RMANCE❑F
<br /> ANY AN�] ALL �BLIGATI�NS UNDER THE N�TE, THE RELATED DaCUMENTS, AND THIS DEED ❑F TRlJST. TH15
<br /> DEED DF TRUST, INCLUDING THE ASSiGNMENT �F #�ENTS AND THE SECURiTY INTEREST IN THE RENTS AND
<br /> PERS�NAL PR�PERTY, IS ALS� GIVEN TQ SECLlRE ANY AND ALL aF TFiUSTDR'S �BLiGATI�NS UNDER THAT
<br /> CERTAIN CaNSTRIJCT#�N L�AN AGREEMENT BETWEEN TRUSTQR AND LENDER �F EVEN DATE HEREWITH. ANY
<br /> EVENT �F DEFAULT IJNDER THE C�NSTRUCT�aN L�A�V AGfiEEMENT, �R ANY aF THE RELATE� D�CUNIENTS
<br /> REFERRED T� THERElN. SHALL ALS� BE AN EVENT �F DEFAULT UNDER THIS DEED �F TRUST. THIS DEED �F
<br /> TRUST IS GIVEN AND AC�EPTED�N THE F�LL�WING TERMS:
<br /> PAYNIENT AND PERFQRMANCE. Except as vtherwise prv�fded in this Deed v# Trust, Trustor shall pay ta Lende� al�
<br /> amounts s�cured hy this Deed of Trust as they hecome due, and shail strictly and in a time�y manner perform all of
<br /> Trustor's obligations under#he Not�,this aeed ot Trust, and the Rela�ed❑ocuments.
<br /> C[�NSTAUCTlaN M�RTGA�E. This D�ed of Trust is a "canstructian mortgage" for the purp�ses af S�ctians 9-334
<br /> and �A-3�9 0�the Unifvrm Commercial Code, as thvse sections ha�e been adopted by the 5tate of Nebraska.
<br /> PDSSESSIQN AND MAINTENANCE �F THE PRDPERTY. Trustor agrees that Trustor's possession and use of the
<br /> Property shall be go�erned by the fo��owing p�o�isions;
<br /> Passessivn end Use. Until the occurrence of an E�ent af Default, Trustar may �1 y remain in possessian and
<br /> cantrol af the Property; ��f use, operate or manage the Property; and �3f collect the Rents frvm the Prvperty.
<br /> Duty ta Maintain. Trustor shafl maintain the Property in tenanta�hle conditi�n �nd promptly per�orm a�l repairs,
<br /> �eplacemen�s, and maintenan�e necessary to preser�e its�alue.
<br />
|