|
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 />THIS DEED OF TRUST is dated November 23, 2004, among RICK R OSTDIEK and KARISA OSTDIEK;
<br />Husband and Wife ( "Trustor "); Five Points Bank, Whose address is West Branch, 2009 N. Dlers Ave., Grand
<br />Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five
<br />Points Bank, Whose address is P.O Box 1507, Grand Island, NE 68802 -1507 (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 Beneflclary, all of Trustor's right, fide, and interest in and to the following described real property, together with all existing or
<br />subsequently elected or affixed buildings, Improvements and fixtures; all easements, rights of way, and appurtenances; ail water, water rights and
<br />ditch rights (Including stock In utilities with ditch or Irrigation rights): end all other rights, royalties, and P'�Cetedl IntHe11 Count , hale lot
<br />without limitation all minerals, oil, gas, geothermal and similar matters. (the "Real Property")
<br />Nebraska:
<br />Lot Eighteen (18), Grand West Fourth Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 4076 Craig Drive, Grand Island, NE 68803. The
<br />Real Property tax identification number is 400415585
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Dead 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 Properly and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL OBLIGATIONS
<br />PROPERTY,
<br />E NOTE, THE RELATED DOCUMENTS, AND THIS DEED OFDTRUST. THIS DEED OF TRUST S GIVEN YAND DACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT Trust a PERFORMANCE. and as otherwise
<br />strict) and Inra firm in perform all Trustor shall
<br />obligations under the Nateamounts this Deed ofTrust
<br />Deed of Trust as they become due, Y Y
<br />and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9434 and 2A-U9 of the Uniform
<br />Commercial Code, as those sections have been adopted by the Slate of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Tfuatcr's possession and use of the Property shall be governed
<br />by the following provisions:
<br />Possession and Use. Urfil 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 Leave. 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 Hamrdous
<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 />n N
<br />O
<br />�s
<br />hf
<br />n /,IY
<br />M
<br />_y
<br />c 1>
<br />rV (fib
<br />w
<br />�
<br />nsC
<br />X
<br />S
<br />Col
<br />N
<br />7
<br />O
<br />WHEN RECORDED MAIL TO:
<br />Five Points Bank
<br />West Branch
<br />3009 N. Diets Ave.
<br />FOR RECORDER'S
<br />USE ONLY
<br />Grand Island 68807
<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 />THIS DEED OF TRUST is dated November 23, 2004, among RICK R OSTDIEK and KARISA OSTDIEK;
<br />Husband and Wife ( "Trustor "); Five Points Bank, Whose address is West Branch, 2009 N. Dlers Ave., Grand
<br />Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five
<br />Points Bank, Whose address is P.O Box 1507, Grand Island, NE 68802 -1507 (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 Beneflclary, all of Trustor's right, fide, and interest in and to the following described real property, together with all existing or
<br />subsequently elected or affixed buildings, Improvements and fixtures; all easements, rights of way, and appurtenances; ail water, water rights and
<br />ditch rights (Including stock In utilities with ditch or Irrigation rights): end all other rights, royalties, and P'�Cetedl IntHe11 Count , hale lot
<br />without limitation all minerals, oil, gas, geothermal and similar matters. (the "Real Property")
<br />Nebraska:
<br />Lot Eighteen (18), Grand West Fourth Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 4076 Craig Drive, Grand Island, NE 68803. The
<br />Real Property tax identification number is 400415585
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Dead 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 Properly and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL OBLIGATIONS
<br />PROPERTY,
<br />E NOTE, THE RELATED DOCUMENTS, AND THIS DEED OFDTRUST. THIS DEED OF TRUST S GIVEN YAND DACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT Trust a PERFORMANCE. and as otherwise
<br />strict) and Inra firm in perform all Trustor shall
<br />obligations under the Nateamounts this Deed ofTrust
<br />Deed of Trust as they become due, Y Y
<br />and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9434 and 2A-U9 of the Uniform
<br />Commercial Code, as those sections have been adopted by the Slate of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Tfuatcr's possession and use of the Property shall be governed
<br />by the following provisions:
<br />Possession and Use. Urfil 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 Leave. 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 Hamrdous
<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 />
|