|
Y•
<br />T
<br />y
<br />U)
<br />0
<br />04
<br />WHEN RECORDED MAIL TO:
<br />United Nebraska Bank
<br />Grand Island Office
<br />PO Box sole
<br />Grand Island, NE 6aa02
<br />a� 010514
<br />T
<br />Z`
<br />f7 co
<br />Uf \i O —1
<br />C D
<br />M Fj� r C-7)
<br />Z-1
<br />rr, � }..
<br />(/\ C')
<br />f rl Z7 i- co
<br />rn r-
<br />c7 -.0
<br />C10
<br />CD
<br />03 Cn
<br />Cn
<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 />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $105,000.00.
<br />T
<br />d
<br />N �
<br />d
<br />d
<br />t�
<br />o c
<br />1--+ co
<br />cn z
<br />THIS DEED OF TRUST is dated November 28, 2000, among Joel B Shafer and Janell Shafer, whose address
<br />is 30 Ponderosa Drive, Grand Island, NE 68801 ( "Trustor "); United Nebraska Bank, whose address is Grand
<br />Island Office, PO Box 5018, Grand Island, NE 68802 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"); and United Nebraska Bank, whose address is 700 N. Webb, Grand Island, NE
<br />68802 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee In trust, WITH PO OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustors right, title, and Interest in and to the following described real prop , together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurte - nces; all water, water rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real pro erty includingQ
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in Hall COUniy, Mate Of
<br />Nebraska:
<br />Lot Five (5), mehring and Kelly Subdivision, to the City of Grand Island, Hall County, Nebraska.
<br />The Real Property'or its address is commonly known as 1619 S Lincoln, Grand Island, NE 68801.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future
<br />amounts Lender in its discretion may loan to Borrower, together with all interest thereon; however, in no event shall such future advances
<br />(excluding Interest) exceed in the aggregate $10,000.00.
<br />Trustor presently assigns to Lender (also known as Beneficiary In this Deed of Trust) all of Trustor's right, title, and interest in and to all present
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />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 PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and not
<br />at the request of Lender; (b) Trustor has the full power, right, and authority to enter Into this Deed of Trust and to hypothecate the Property; (c)
<br />the provisions of this Dead of Trust do not conflict with, or result In a default under any agreement or other Instrument binding upon Trustor and
<br />do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of
<br />obtaining from Borrower on a continuing basis Information about Borrower's financial condition; and (e) Lender has made no representation to
<br />Trustor about Borrower (Including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti - deficiency" law, or any other law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a
<br />claim for deficiency, before or after Lender's Ggmmengement or completion of any fgredgwre agion, either judicially or by exergise of a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by
<br />this Deed of Trust as It becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Deed of
<br />
|