|
Q _ 'Ft S
<br />-Ai �� n S
<br />C
<br />n z
<br />Ca r) %1 -
<br />e
<br />Q
<br />WHEN RECORDED MAIL TO:
<br />PINNACLE BANK
<br />CENTRAL CITY OFFICE
<br />320 G ST
<br />PO BOX 28
<br />CENTRAL CITY, NE 68826
<br />-�J
<br />Cz:)
<br />r
<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 />FOR RECORDER'S USE ONLY
<br />THIS DEED OF TRUST is dated February 14, 2017, among N.P. BUILDERS, LLC, a Nebraska
<br />Limited Liability Company, whose address is 2923 LEE ST, GRAND ISLAND, NE 68803
<br />( "Trustor "); PINNACLE BANK, whose address is CENTRAL CITY OFFICE, 320 G ST, PO BOX
<br />28, CENTRAL CITY, NE 68826 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary "); and PINNACLE BANK, whose address is 320 G STREET, PO BOX 28, CENTRAL
<br />CITY, NE 68826 (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 />Lot Sixteen (16), Block Two (2), Northview First Subdivision to the City of Grand Island,
<br />Hall County, Nebraska
<br />The Real Property or its address is commonly known as 2924 LEE STREET, GRAND ISLAND ,
<br />NE 68803.
<br />CROSS - COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities,
<br />plus interest thereon, of either Trustor or Borrower to Lender, or any one or more of them, as well as all claims by
<br />Lender against Borrower and Trustor or any one or more of them, whether now existing or hereafter arising, whether
<br />related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or
<br />indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Borrower or Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or
<br />otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br />limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br />unenforceable.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to
<br />Borrower or Trustor whether or not the advances are made pursuant to a commitment. Specifically, without limitation,
<br />this Deed of Trust secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion
<br />may loan to Borrower or 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, INCLUDING THE ASSIGNMENT
<br />OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE
<br />ANY AND ALL OF BORROWER'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT
<br />BETWEEN BORROWER AND LENDER OF EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE
<br />CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN, SHALL ALSO
<br />BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti- deficiency"
<br />law, or any other law which may prevent Lender from bringing any action against Trustor, including a claim for
<br />deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br />or completion of any foreclosure action, either judicially or by exercise of a power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to
<br />Lender all Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly
<br />perform all their respective 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 />11
<br />IT
<br />Cl ITT
<br />P a t
<br />C~
<br />PR
<br />
|