|
r.r
<br />Fii
<br />i
<br />n
<br />2
<br />M
<br />a7
<br />M
<br />In
<br />Z
<br />S
<br />f'1
<br />I
<br />M
<br />n
<br />A
<br />S
<br />M s�
<br />c>
<br />O
<br />m
<br />Qm
<br />0
<br />CD
<br />t-+
<br />C)
<br />O
<br />I:1
<br />CD
<br />rU
<br />c
<br />- i rrt
<br />CD
<br />� d
<br />r V
<br />O -n
<br />CD
<br />co
<br />Z
<br />.M
<br />n w
<br />F--►
<br />r n
<br />w
<br />ca
<br />cn
<br />O
<br />.D,
<br />rV
<br />O
<br />Cn
<br />,
<br />Cn
<br />WHEN RECORDED MAIL TO:
<br />Farmers State Bank
<br />2nd and Vine
<br />P. O. Box 246
<br />Silver Creek, NE 66663 -0246 FOR RECORDER'S USE ONLY
<br />fTi
<br />.O-e-
<br />C'D
<br />It
<br />CD
<br />Z=
<br />cor
<br />CO2
<br />-•a
<br />O
<br />co
<br />a
<br />r�
<br />O
<br />DEED OF TRUST `�A
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $324,000.00.
<br />THIS DEED OF TRUST is dated December 21, 2001, among Chad W. Furley, whose address is 4315
<br />Claussen Road, Grand Island, NE 68801 and Jennifer L. Furley, whose address is 4315 Claussen Road,
<br />Grand Island, NE 68801; husband and wife as joint debtors ( "Trustor "); Farmers State Bank, whose address
<br />is 2nd and Vine, P. 0. Box 246, Silver Creek, NE 68663 -0246 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"); and Farmers State Bank, whose address is P. 0. Box 246, Silver Creek, NE
<br />68663 -0246 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee In trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; 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 property includin
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in Hall County, State of
<br />Nebraska:
<br />Lot Five (5) of Claussen Subdivision in Hall County, Nebraska
<br />The Real Property or its address is commonly known as 4315 Claussen Road, Grand Island, NE 68801.
<br />CROSS- COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
<br />Trustor to Lender, or any one or more of them, as well as all claims by Lender against Trustor or any one or more of them, whether now existing
<br />or hereafter arising, whether 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 Trustor may be liable individually or jointly with
<br />others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter
<br />may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br />unenforceable.
<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 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 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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this
<br />Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this Deed of Trust,
<br />and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of theProperty shall be governed by
<br />the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property; (2)
<br />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, replacements, and maintenance
<br />necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership of
<br />the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
<br />Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe that there has been,
<br />except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor
<br />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any
<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and
<br />its agents to enter upon the Property to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to
<br />determine compliance of the Property w;th this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach
<br />of this section of the Deed of Trust or as a conseauence of anv use. aeneration. manufacture. storaae. disposal. release or threatened
<br />m
<br />n
<br />
|