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<br />200403416
<br />WHEN RECORDED MAIL TO:
<br />. Unhed Nebraska Bank
<br />'Grand Island Office
<br />PO Box 6018
<br />loved I= tl NE 68802 FOR RECORDER'S USE ONLY
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<br />CONSTRUCTION DEED OF TRUST 3s
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT 'Se
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />THIS DEED OF TRUST is dated March 31. 2004, among Gordon O'Neill and Colleen O'Neill, Husband and
<br />Wife, whose address is 1833 N Hancock, Grand Island, NE 68803; ( "Truster "); United Nebraska Bank, whose
<br />address is Grand Island Office, PO Box 5018, Grand Island, NE 68802 (referred to below sometimes as
<br />"Lander" and sometimes as "Beneficiary "); and United Nebraska Bank , whose address is 700 N. Webb, Grand
<br />Island. NE 68802 (referred to below as "Trustee "1.
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor convey. to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Leader as Beneficiary, all of Toaster's right, title, and interest in antl 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
<br />rights and ditch rights ( including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall
<br />County, State of Nebraska:
<br />Lot Seven (7), Block Five (51, in Dill and Huston's Addition to the City of Grand Island, Hell County,
<br />Nebraska
<br />The Real Property or its address is commonly known as 2227 West 11th St, Grand Island, NE 68803. The
<br />Real Property tax identification number is 400126815.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Ncte, all
<br />future am unts Lender in its discretion may loan to Trustor, together with all interest thereon; however, In no event shall such future
<br />advances (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 frontier's right, title, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />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 PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE IAI 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, Truster shall pay to Lender all amounts secured by
<br />this Dead of Trust as they become due, and shall strictly and in a timely manner perform ell of Truster's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Dead of Trust is a "construction mortgage' for the purposes of Sections 9 -334 and 2A -309 of the
<br />Uniform Commercial Cade, as those sections have been adopted by the Stale of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Toaster's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Truster may (1) remain in possession and Control of the Property;
<br />(2) use, operate or manage the Property ; and 13) collect the Rents from the Property.
<br />Duty to Maintain. Truster shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Truslar represents and warrants to Lender that: 11) During the period of Tracer's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lander in writing, le) any breach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or ic) any actual or
<br />threatened litigation or claims of any kind by any person relating to such manes: and (3) Except as previously chartered to and
<br />acknowledged by Lender in writing, (a) neither Truster nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, Including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make each inspections and broad, at Truser's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lander shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lander to Trustor or to any other parson. The representations and
<br />warrantios contained herein are based on Truster's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby 11) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other casts under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lander may directly or indirectly sustain or suffer resulting from a breach of this
<br />section of the Deed of Trustor as a consequence of any use, generation, manufacture, storage, disposal, related or threatened release
<br />occurring m e
<br />prior Truster's ownership or Interest in the Property, whether or not the s s or should have been known to Trustor.
<br />The provision, of this section of the Dead of Trust, including the obligation to indemnify, shall survive the payment of the
<br />Indebtednea. and the satisfaction and reconveyance of the lien of this Dead of Trust and shall not be affected by Lender's acquisition
<br />of any interest in the Property, whether by foreclosure or otherwise.
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<br />WHEN RECORDED MAIL TO:
<br />. Unhed Nebraska Bank
<br />'Grand Island Office
<br />PO Box 6018
<br />loved I= tl NE 68802 FOR RECORDER'S USE ONLY
<br />rri
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<br />0
<br />CONSTRUCTION DEED OF TRUST 3s
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT 'Se
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />THIS DEED OF TRUST is dated March 31. 2004, among Gordon O'Neill and Colleen O'Neill, Husband and
<br />Wife, whose address is 1833 N Hancock, Grand Island, NE 68803; ( "Truster "); United Nebraska Bank, whose
<br />address is Grand Island Office, PO Box 5018, Grand Island, NE 68802 (referred to below sometimes as
<br />"Lander" and sometimes as "Beneficiary "); and United Nebraska Bank , whose address is 700 N. Webb, Grand
<br />Island. NE 68802 (referred to below as "Trustee "1.
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor convey. to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Leader as Beneficiary, all of Toaster's right, title, and interest in antl 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
<br />rights and ditch rights ( including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall
<br />County, State of Nebraska:
<br />Lot Seven (7), Block Five (51, in Dill and Huston's Addition to the City of Grand Island, Hell County,
<br />Nebraska
<br />The Real Property or its address is commonly known as 2227 West 11th St, Grand Island, NE 68803. The
<br />Real Property tax identification number is 400126815.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Ncte, all
<br />future am unts Lender in its discretion may loan to Trustor, together with all interest thereon; however, In no event shall such future
<br />advances (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 frontier's right, title, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />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 PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE IAI 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, Truster shall pay to Lender all amounts secured by
<br />this Dead of Trust as they become due, and shall strictly and in a timely manner perform ell of Truster's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Dead of Trust is a "construction mortgage' for the purposes of Sections 9 -334 and 2A -309 of the
<br />Uniform Commercial Cade, as those sections have been adopted by the Stale of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Toaster's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Truster may (1) remain in possession and Control of the Property;
<br />(2) use, operate or manage the Property ; and 13) collect the Rents from the Property.
<br />Duty to Maintain. Truster shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Truslar represents and warrants to Lender that: 11) During the period of Tracer's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lander in writing, le) any breach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or ic) any actual or
<br />threatened litigation or claims of any kind by any person relating to such manes: and (3) Except as previously chartered to and
<br />acknowledged by Lender in writing, (a) neither Truster nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, Including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make each inspections and broad, at Truser's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lander shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lander to Trustor or to any other parson. The representations and
<br />warrantios contained herein are based on Truster's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby 11) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other casts under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lander may directly or indirectly sustain or suffer resulting from a breach of this
<br />section of the Deed of Trustor as a consequence of any use, generation, manufacture, storage, disposal, related or threatened release
<br />occurring m e
<br />prior Truster's ownership or Interest in the Property, whether or not the s s or should have been known to Trustor.
<br />The provision, of this section of the Dead of Trust, including the obligation to indemnify, shall survive the payment of the
<br />Indebtednea. and the satisfaction and reconveyance of the lien of this Dead of Trust and shall not be affected by Lender's acquisition
<br />of any interest in the Property, whether by foreclosure or otherwise.
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