|
. ,
<br /> gg_ iC�3998
<br /> t _ DEED OF TRUST Page 2
<br /> (Continued)
<br /> Deed of Trust. The words"Deed of Trust"mean this Deed of Trust among Grantor,Lender and Trustee.
<br /> Grantor. The word"Grantor"means any and ail persons and entities executing this Deed of Trust. Any Grantor who signs this Deed of Trust,but
<br /> does not sign the Credit Agreement,is signing this Deed of Trust only to grant and convey that Grantor's interest in the Real Prope�ty and to grant
<br /> a seCUrity interest in Grantor's interesi in the Personal Property to Lender and is not personally liable under the Credit Agreement exc�pt 8s
<br /> otherwise provided by contract or law.
<br /> Improvements. The word "Improvements" means and includes wiihout limitation all 8xisting and future improvements, fixturas, buildings,
<br /> structures,mobile homes affixed on the Real Property,facilities,additions and other construction on the Real Property.
<br /> Indebtedness. The word "Indebtedness" means all principal and interest payable under the Credit Agreement and any amounts expended or
<br /> advanced by Lender to discharge obligations of Grantor or expen5es incurred by Trustee or Lender to entorce obligations of Grantor under this
<br /> Deed of Trust, together with interest on such amounts as provided in this Deed oi Trust. SpeClflCalty,without limltatfon, thls Deed of Trust
<br /> xcures a revolviny line of credlt,which obliyates Lender to make advences to Granto��o lon�as Grantor complles wIM all the terms ot
<br /> the Credlt A�reement. Such advances may be made, repaid, and remade trom tlme to tlme, sub�ect to the Ilmitation that Me total
<br /> outstandlny balence owing at any one time,not including Hnance charyes on such balance at a flxed or varlable rate or sum as provided
<br /> In the Credit Ayreement,any temporary overapes,other charyes,and any amounts expende0 or advanced aa provlded In thls para�raph,
<br /> shall not exceed the Credit Lfmit as provided In the Credit A�rtement. NoMriths�dntfkiy th�amount outstandln�at�y parttcular time,
<br /> thfs Deed of Trust aecures the total Credlt Agreement amount shown above. The unpdd balance of the revolvtny Ilne of credlt may al
<br /> certafn tlmes be lower than the amount shown or zero. A xro balance does not terminate the Ilne of credlt or terminate Lender's
<br /> obli�etfon to advance funds to Grantor. Therefore,the lien of this Deed of Trust will rematn In full torce and eftect notwlthstandfny arry
<br /> zero balance.
<br /> Lesse. The word lease"means any lease between Grantor and the Lessor ot the Property.
<br /> Lender. The word"Lender"means NAFCO NE Federal Credit Union,its successors and assigns.
<br /> Personal Property. The words"Personal Property"mean all equipment,fixtures,and other articles of personal property now or hereafter owned
<br /> by Grantor,and now or hereaiter attached or aifixed to the Real Property;together with all accessions,parts,and additions to,all replacements of,
<br /> and all substitutions for,any of such property; and together with all proceeds (including without limitetion all insurance proceeds and refunds of
<br /> premiums)hom any sale or other disposition of the Property.
<br /> Property. The word"Property"means collectively the Real Property and the Personal Properfy.
<br /> Reel Property. The words"Real Property"mean the property,interests and rights dascribed above in the"Conveyance and Grant"section.
<br /> Related DoCUments. The words "Related Documents" mean and include without limitation all promissory notes, credit agreemenl5, loan
<br /> agreements, guaranties, security agreements, mortgages, deeds of trust, and all other instruments and dxuments, whether now or hereafter
<br /> a�osting,executed in connection with Grantors Indebtedness to Lender.
<br /> Trustee. The word'Trustee"means the entity shown at the top of page one of this Deed of Trust.
<br /> THIS DEED OF TRUST AND, IF ANY, A SECURITY INTEREST IN THE PERSONAL PROPERTY, IS GIVEN TO SECURE (1)PAYMENT OF THE
<br /> INDEHTEDNESS AND (2)PERFORMANCE OF EACH AGREEMENT AND OBLIGATION OF GRANTOR UNDER THE CREDIT AGREEMENT,THE
<br /> RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br /> 3. PAYMENT AND PERFORMANCE. Except as othervvise provided in this Deed of Trust, Grantor shal� pay to Lender all amounts secured by this
<br /> Deed of Trust as they become due, and shatl strictly and in a timely manner perform all of Grantor's obligations under the LOANLINER� Home Equity
<br /> Plan Credit Agreement and this Deed of Trust.
<br /> 4. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by
<br /> the following provisions:
<br /> Posx�.slon and WE. Until the occurrence of an Event of Default, Grantor may (a)remain in possession and conhol of the Property, (b) use,
<br /> operate or manage the Property,and (c)collect any Rents from the Property.
<br /> Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs and maintenance necessary to
<br /> preserve its value.
<br /> FlezarCous SuDStances.- Grantor represents and warrants that ths Property never tras been, and never�+vi1F be so ior�as this Deed ot Trust
<br /> remains a lien on the Property,used for the generation,manufacture,storage,treatment,disposal,release a threatened release of any hezardous
<br /> waste or substance, as those terms are defined in the Comprehensive Environmental Response, Compensation and Liability ACt of 1980, as
<br /> amended,42 U.S.C. Section 9601,et seq. ("CERCLA"),the Supertund Amendments and Reauthorization Act("SARA"),applicable state or Federal
<br /> laws,or regulations adopted pursuant to any of the foregoing. Grantor authorizes Lender and its agents to enter upon the Property to make such
<br /> inspectlons and tests as Lender may deem appropriate to determine compliance of the Property with this seCtion of the Deed of Trust. Grantor
<br /> hereby (a)releases and waives any future claims against lender for indemnity or contribution in the event Grantor becomes liable for cleanup or
<br /> other costs under any such laws, and (b)agrees to indemnify and hold harmless Lender against any and all claims and losses resulting from a
<br /> breach of this paragraph of the Deed of Trust. This obligation to indemniy shall survive the payment of the Indebtedness and the satistaction of
<br /> this Deed of Trust.
<br /> Nulsence,Waste. Grantor shall not cause,conduct or permit any nuisance nor commit,permit, or suffer any stripping of or w85te on or to the
<br /> Property or any poRion of the Property. Specifically without limitation,Grantor will not remove,or grant to any other party the right to remove,any
<br /> timber,minerals(including oil and gas),soil,gravel or rock products without the priw written con5ent of Lender.
<br /> Lende►'s Rlght to Enter. Lender and its agents and representeUves may enter upon the Real Property at all reasonable times to attend to
<br /> lender's interests and to inspect the Property for purposes of Grantor's compliance with the terms and condiHons ot this Deed of Trust.
<br /> Compliance wlth Governmental Requfrements. Grantor shall prompdy comply with all laws, ordinances,and regulations of all flovernmental
<br /> authorities applicable to the use or occupancy of the Property. Grantor may contest in good faith any such law, ordinance, or regulation and
<br /> withhold compliance during any proceeding,including appropriate appeals,so long as Grantor has no6fied Lender in wrifing prior to dang so end
<br /> so long as Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond,
<br /> reasonably satisfactory to Lender,to protect Lender's interest.
<br /> Duty to Protect. Grantor agrees neither to abandon nor leave unattended the Property. Grantor shall do all other acts,in 8ddition to those acts
<br /> set forth above in this section,which from the character and use of the Property are reasonably necessary to protect and preserve the Property.
<br /> 5. COMPLIANCE WITH LEASE. Ii there is a Lease on the Property,Grantor will pay all rents and will strictly observe and pertorm on a timely basis all
<br /> other terms, covenants, and conditions of the Lease. Grantor further agrees (a) not to surrender, terminate, or cancel the Lease, and (b) not to
<br /> modify, change, supplement, alter, or amend the Lease, either orally or in writing, without Lender's prior written consent. No estate in the Property,
<br />
|