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M <br />M <br />Z <br />200406101 _ <br />A <br />M N <br />0 <br />N <br />CD <br />0 <br />_S_ <br />O <br />C7 <br />F—` <br />co <br />WHEN RECORDED MAIL TO: <br />GUNNISON SAVINGS & LOAN ASSOCIATION <br />GS &L <br />303 NORTH MAIN STREET <br />GUNNISON CO 81230 FOR RECORDER'S USE ONLY <br />rr <br />CAD <br />0 <br />R <br />X <br />C <br />DEED OF TRUST <br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $25,000.00. <br />THIS DEED OF TRUST is dated January 14, 2004, among JOHN SCHULTZ AKA JOHN H. SCHULTZ and <br />EVELYN SCHULTZ AKA EVELYN D. SCHULTZ ( "Trustor "); GUNNISON SAVINGS & LOAN ASSOCIATION, <br />whose address is GS &L, 303 NORTH MAIN STREET, GUNNISON, CO 81230 (referred to below sometimes <br />as "Lender" and sometimes as "Beneficiary"); and OLD REPUBLIC NATIONAL TITLE INSURANCE <br />COMPANY, whose address is 113 WEST 2ND STREET, GRAND ISLAND, NE 68801 (referred to below as <br />"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 pprops including <br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in HALL GOunty, State of <br />Nebraska: <br />THE EAST HALF (E 1/2) OF THE SOUTH TWELVE (12) FEET OF LOT THREE (3), THE EAST HALF (E 1/2) <br />OF LOTS FOUR (4) AND FIVE (5), THE WEST FIFTY (50) FEET OF THE SOUTH HALF (S 1/2) OF LOT <br />EIGHT (8), THE WEST FIFTY (50) FEET OF LOTS SIX (6) AND SEVEN (7), ALL IN BLOCK H, MACCOLL <br />AND LEFLANGS SECOND ADDITION TO THE VILLAGE NOW CITY OF WOOD RIVER, HALL COUNTY, <br />NEBRASKA AND THAT PART OF VACATED ALLEY AS SHOWN IN ORDINANCE NO. 367, FILED JUNE 13, <br />1994 IN THE REGISTER OF DEEDS OFFICE AS DOCUMENT NO. 94- 105048 EXCEPTING A CERTAIN <br />TRACT MORE PARTICULARLY DESCRIBED IN WARRANTY DEED RECORDED AS DOCUMENT NO. <br />94- 105901. <br />The Real Property or its address is commonly known as 308 W. 9TH ST., WOOD RIVER, NE 68883. <br />REVOLVING LINE OF CREDIT. Specifically, In addition to the amounts specified In the Indebtedness definition, and without limitation, <br />this Deed of Trust secures a revolving line of credit, which obligates Lender to make advances to Borrower so long as Borrower <br />complies with all the terms of the Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the <br />limitation that the total outstanding balance owing at any one time, not including finance charges on such balance at a fixed or variable <br />rate or sum as provided in the Credit Agreement, any temporary overages, other charges, and any amounts expended or advanced as <br />provided in either the Indebtedness paragraph or this paragraph, shall not exceed the Credit Limit as provided In the Credit Agreement. <br />It is the intention of Trustor and Lender that this Deed of Trust secures the balance outstanding under the Credit Agreement from time to <br />time from zero up to the Credit Limit as provided In this Deed of Trust 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 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 EACH OF TRUSTOR'S <br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS <br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE 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 Deed 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 commencement or completion of any foreclosure action, either judicially or by exercise 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 Credit Agreement, <br />this Deed of Trust, and the Related Documents. <br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and 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 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 />n = <br />O <br />o <br />'*+ - <br />O <br />1• <br />U ) <br />W <br />N <br />Ln <br />0 <br />N <br />CD <br />0 <br />_S_ <br />O <br />C7 <br />F—` <br />co <br />WHEN RECORDED MAIL TO: <br />GUNNISON SAVINGS & LOAN ASSOCIATION <br />GS &L <br />303 NORTH MAIN STREET <br />GUNNISON CO 81230 FOR RECORDER'S USE ONLY <br />rr <br />CAD <br />0 <br />R <br />X <br />C <br />DEED OF TRUST <br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $25,000.00. <br />THIS DEED OF TRUST is dated January 14, 2004, among JOHN SCHULTZ AKA JOHN H. SCHULTZ and <br />EVELYN SCHULTZ AKA EVELYN D. SCHULTZ ( "Trustor "); GUNNISON SAVINGS & LOAN ASSOCIATION, <br />whose address is GS &L, 303 NORTH MAIN STREET, GUNNISON, CO 81230 (referred to below sometimes <br />as "Lender" and sometimes as "Beneficiary"); and OLD REPUBLIC NATIONAL TITLE INSURANCE <br />COMPANY, whose address is 113 WEST 2ND STREET, GRAND ISLAND, NE 68801 (referred to below as <br />"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 pprops including <br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in HALL GOunty, State of <br />Nebraska: <br />THE EAST HALF (E 1/2) OF THE SOUTH TWELVE (12) FEET OF LOT THREE (3), THE EAST HALF (E 1/2) <br />OF LOTS FOUR (4) AND FIVE (5), THE WEST FIFTY (50) FEET OF THE SOUTH HALF (S 1/2) OF LOT <br />EIGHT (8), THE WEST FIFTY (50) FEET OF LOTS SIX (6) AND SEVEN (7), ALL IN BLOCK H, MACCOLL <br />AND LEFLANGS SECOND ADDITION TO THE VILLAGE NOW CITY OF WOOD RIVER, HALL COUNTY, <br />NEBRASKA AND THAT PART OF VACATED ALLEY AS SHOWN IN ORDINANCE NO. 367, FILED JUNE 13, <br />1994 IN THE REGISTER OF DEEDS OFFICE AS DOCUMENT NO. 94- 105048 EXCEPTING A CERTAIN <br />TRACT MORE PARTICULARLY DESCRIBED IN WARRANTY DEED RECORDED AS DOCUMENT NO. <br />94- 105901. <br />The Real Property or its address is commonly known as 308 W. 9TH ST., WOOD RIVER, NE 68883. <br />REVOLVING LINE OF CREDIT. Specifically, In addition to the amounts specified In the Indebtedness definition, and without limitation, <br />this Deed of Trust secures a revolving line of credit, which obligates Lender to make advances to Borrower so long as Borrower <br />complies with all the terms of the Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the <br />limitation that the total outstanding balance owing at any one time, not including finance charges on such balance at a fixed or variable <br />rate or sum as provided in the Credit Agreement, any temporary overages, other charges, and any amounts expended or advanced as <br />provided in either the Indebtedness paragraph or this paragraph, shall not exceed the Credit Limit as provided In the Credit Agreement. <br />It is the intention of Trustor and Lender that this Deed of Trust secures the balance outstanding under the Credit Agreement from time to <br />time from zero up to the Credit Limit as provided In this Deed of Trust 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 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 EACH OF TRUSTOR'S <br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS <br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE 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 Deed 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 commencement or completion of any foreclosure action, either judicially or by exercise 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 Credit Agreement, <br />this Deed of Trust, and the Related Documents. <br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and 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 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 />