|
WHEN RECORDED MAIL TO:
<br />PINNACLE BANK
<br />/ PALMER OFFICE
<br />✓ 912 COMMERCIAL ST
<br />PO BOX 187
<br />PALMER, NE 68864
<br />nn
<br />Z N
<br />FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated March 21, 2019, among WILLIAM SCORE, a/k/a WILLIAM R
<br />SCORE and DIANNE SCORE, a/k/a DIANNE K SCORE, husband and wife, as joint tenants,
<br />whose address is 2104 RAINBOW RD, GRAND ISLAND, NE 68801 ("Trustor"); PINNACLE
<br />BANK, whose address is PALMER OFFICE, 912 COMMERCIAL ST, PO BOX 187, PALMER, NE
<br />68864 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />PINNACLE BANK, whose address is PO BOX 187, PALMER, NE 68864 (referred to below as
<br />"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 One (1), Rainbow Lake Fourth Subdivision, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 2104 RAINBOW RD, GRAND ISLAND,
<br />NE 68801. The Real Property tax identification number is 400369826.
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness inciuding, without limitation, a revolving
<br />line of credit, which obligates Lender to make advances to Trustor so long as Trustor complies with aN the terms of the
<br />Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the limitation that
<br />the total outstanding balance owing at any one time, not including finance charges on such balance at a fixed or
<br />variable rate or sum as provided in the Credit Agreement, any temporary overages, other charges, and any amounts
<br />expended or advanced as provided in either the Indebtedness paragraph or this paragraph, shall not exceed the Credit
<br />Limit as provided in the Credit Agreement. It is the intention of Trustor and Lender that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreement from time to time from zero up to the Credit Lent as provided in the
<br />Credit Agreement and any intermediate balance.
<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 />EACH OF TRUSTOR'S AGREEMENTS AND OBLIGATIONS UNDER THE CREDfT AGREEMENT, THE RELATED
<br />DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING
<br />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 Credit Agreement. 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 />generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br />on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously
<br />disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor any tenant. contractor, agent or other
<br />authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous
<br />
|