Laserfiche WebLink
WHEN RECORDED MAIL TO: <br />CORNERSTONE BANK <br />Grand Island Main Facility <br />840 North Diers Avenue <br />Grand Island, NE 68803 <br />FOR RECORDER'S USE ONLY <br />DEED OF TRUST <br />THIS DEED OF TRUST is dated March 27, 2017, among Paul L McKinney and Janelle M <br />McKinney, whose address is 2818 Fort Worth Ave, Grand Island, NE 68803 ( "Trustor "); <br />CORNERSTONE BANK, whose address is Grand Island Main Facility, 840 North Diers Avenue, <br />Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as <br />"Beneficiary "); and CORNERSTONE BANK N.A. 529 LINCOLN AVENUE, YORK, NE 68467, <br />whose address is 529 LINCOLN AVENUE, YORK, NE 68467 (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 County, <br />State of Nebraska: <br />A tract of land comprising a part of the Northeast Quarter (NE1 /4) of Section Eight (8), <br />Township Twelve (12) North, Range Nine (9) West of the 6th P.M., in Hall County, <br />Nebraska, more particularly described as follows: Beginning at a point on the westerly right <br />of way line of U.S. Highway No. 281, said point being Seven Hundred Forty Seven and <br />Two Tenths (747.2) feet south and Thirty Nine and Seventy Five Hundredths (39.75). feet <br />west of the northeast corner of said Section Eight (8); thence westerly parallel to the north <br />line of said Section Eight (8), a distance of One Thousand One Hundred Sixty Six and Two <br />Hundredths (1,166.02) feet; thence deflecting left 91° 25' and running southerly, a <br />distance of Five Hundred Seventy Two and Eight Tenths (572.8) feet; thence easterly <br />parallel to the north line of said Section Eight (8), a distance of One Thousand One Hundred <br />Sixty Four and Thirty Nine Hundredths (1,164.39) feet to the westerly right of way line of <br />said U.S. Highway No. 281; thence northerly along said highway right of way line, a <br />distance of Five Hundred Seventy Two and Eight Tenths (572.8) feet to the place of <br />beginning EXCEPTING a certain tract Deeded to the State of Nebraska more particularly <br />described in Warranty Deed recorded as Document No. 93- 104890 <br />The Real Property or its address is commonly known as 7800 N US HWY 281, Grand Island, <br />NE 68803. The Real Property tax identification number is 400185172. <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 THE NOTE, THE RELATED DOCUMENTS, AND THIS 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 />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 />