|
THIS DEED OF TRUST is dated March 5, 2003, among LEE C NIELSEN and CHERYL L NIELSEN, HUSBAND
<br />AND WIFE ( "Trustor "); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand Island, NE
<br />68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary "); and Five Points Bank,
<br />whose address is P.O Box 1507, Grand Island, NE 68802 -1507 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration. Theater conveys to Trustee in trust, WITH POWER OF BALE, for the benefit of
<br />Lender as Beneficiary, all of Truslor'e right, title, and interest in and to the following described real property, together with ell 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 rigIts, 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 />LOTS THIRTY -FOUR (34) AND THIRTY -FIVE (35), THELEN SUBDIVISION. FIRST ADDITION TO THE CITY
<br />OF WOOD RIVER, HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 1420 DODD ST. WOOD RIVER, NE 68883. The Real
<br />Property tax identification number is #400390205, #400390213
<br />FUTURE ADVANCES. Specifically, without limitation, this Dead of Trust secures, in addition to the amounts specified in the Note, all
<br />future amounts Lender in its discretion may loan to Truster, together with all interest thereon; however, In no event shall such future
<br />advances (excluding interest) exceed In the aggregate 5180.000.00.
<br />Truster presently assigns to Lender lain, known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Properly 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 (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 Truster shall pay to Lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of TrusWr's ubliyations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage fur the purposes of Sections 9 -334 and 2A -309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the fallowing provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Truster may (11 remain In possession and control of the Property;
<br />(2) Oeo, operate or manage the Property; and 13) collect the Rents from the Property.
<br />Duty to Maintain. Truster shall maintain the Property in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve Its value.
<br />M
<br />"
<br />n
<br />ir N
<br />C n
<br />< o
<br />=nv R oc
<br />r
<br />o
<br />D
<br />y
<br />o
<br />s
<br />W
<br />z
<br />f1 u Is jr
<br />sy,
<br />O
<br />no
<br />D
<br />m ¢�
<br />3
<br />rD
<br />N
<br />no
<br />CD
<br />In
<br />m
<br />w
<br />'1.8 2
<br />20030
<br />G
<br />WHEN RECORDED MAIL TO:
<br />0
<br />Five Points Bank
<br />M
<br />West Branch
<br />2009 N. Diers Ave.
<br />Grand Island, NE 68803 FOR
<br />RECORDER'S
<br />USE ONL
<br />\Y
<br />—
<br />CONSTRUCTION DEED OF TRUST
<br />1 -
<br />--
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />_
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $160,000.00.
<br />THIS DEED OF TRUST is dated March 5, 2003, among LEE C NIELSEN and CHERYL L NIELSEN, HUSBAND
<br />AND WIFE ( "Trustor "); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand Island, NE
<br />68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary "); and Five Points Bank,
<br />whose address is P.O Box 1507, Grand Island, NE 68802 -1507 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration. Theater conveys to Trustee in trust, WITH POWER OF BALE, for the benefit of
<br />Lender as Beneficiary, all of Truslor'e right, title, and interest in and to the following described real property, together with ell 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 rigIts, 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 />LOTS THIRTY -FOUR (34) AND THIRTY -FIVE (35), THELEN SUBDIVISION. FIRST ADDITION TO THE CITY
<br />OF WOOD RIVER, HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 1420 DODD ST. WOOD RIVER, NE 68883. The Real
<br />Property tax identification number is #400390205, #400390213
<br />FUTURE ADVANCES. Specifically, without limitation, this Dead of Trust secures, in addition to the amounts specified in the Note, all
<br />future amounts Lender in its discretion may loan to Truster, together with all interest thereon; however, In no event shall such future
<br />advances (excluding interest) exceed In the aggregate 5180.000.00.
<br />Truster presently assigns to Lender lain, known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Properly 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 (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 Truster shall pay to Lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of TrusWr's ubliyations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage fur the purposes of Sections 9 -334 and 2A -309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the fallowing provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Truster may (11 remain In possession and control of the Property;
<br />(2) Oeo, operate or manage the Property; and 13) collect the Rents from the Property.
<br />Duty to Maintain. Truster shall maintain the Property in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve Its value.
<br />
|