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<br />WHEN RECORDED MAIL TO: C
<br />Five Palms Bank
<br />West Branch
<br />2009 N. Diem Ave.
<br />G .. l d NE 68603 FOR RECORDER'S USE ONLY
<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 April 4, 2003, among DONALD D JAMES and BONNIE M JAMES; Husband and
<br />Wife ( "Trustor"I; 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, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefl, o
<br />Lender as Beneficiary, all of Truster's right, title, and interest in and to the following described real property, together with all existing o
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, were
<br />rights and ditch rights lincluding stock in utilities with ditch or irrigation rights); and ell other rights, royalties, and profits relating to the of
<br />property, including without limitation all minerals, ail, gas, geothermal and similar matters, (the "Real Property "( located in HALT
<br />County, State of Nebraska:
<br />Lot One (1), Block Two (2). Westroads Estates Second Subdivision to the City of Grand Island, Hal
<br />County, Nebraska
<br />The Real Property or its address is commonly known as 3509 SCHROEDER AVE. GRAND ISLAND, Ni
<br />68803.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Dead of Trust) all of Trustor'a right, title, and interest in and to a
<br />present and future leases of the Property and all Rents from the Property. In addition, Theater grants to Lender a Uniform Commerci:
<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 (9) PERFORMANCE OF ANY AND ALL OBLIGATIONE
<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 Dead of Trust Treater shall pay to Lender all amounts secured b
<br />this Dead of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor'a obligations under the Nate, thi
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage for the purposes of Sections 9 -334 and 2A -309 of th
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Truster's possession and use of the Property shall bi
<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 central of the Propertl
<br />(2) 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, an
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Treater represents and warrants to Lender that: (l1 During the period of Truster's ownershi
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of an
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believ
<br />that there has been, except as previously disclosed to and acknowledged by Lender In writing, (a) any breech or violation of an
<br />Environmental Laws, (hl any use, generation, manufacture, storage, treatment, disposal, release or threatened release of at
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<br />WHEN RECORDED MAIL TO: C
<br />Five Palms Bank
<br />West Branch
<br />2009 N. Diem Ave.
<br />G .. l d NE 68603 FOR RECORDER'S USE ONLY
<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 April 4, 2003, among DONALD D JAMES and BONNIE M JAMES; Husband and
<br />Wife ( "Trustor"I; 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, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefl, o
<br />Lender as Beneficiary, all of Truster's right, title, and interest in and to the following described real property, together with all existing o
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, were
<br />rights and ditch rights lincluding stock in utilities with ditch or irrigation rights); and ell other rights, royalties, and profits relating to the of
<br />property, including without limitation all minerals, ail, gas, geothermal and similar matters, (the "Real Property "( located in HALT
<br />County, State of Nebraska:
<br />Lot One (1), Block Two (2). Westroads Estates Second Subdivision to the City of Grand Island, Hal
<br />County, Nebraska
<br />The Real Property or its address is commonly known as 3509 SCHROEDER AVE. GRAND ISLAND, Ni
<br />68803.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Dead of Trust) all of Trustor'a right, title, and interest in and to a
<br />present and future leases of the Property and all Rents from the Property. In addition, Theater grants to Lender a Uniform Commerci:
<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 (9) PERFORMANCE OF ANY AND ALL OBLIGATIONE
<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 Dead of Trust Treater shall pay to Lender all amounts secured b
<br />this Dead of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor'a obligations under the Nate, thi
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage for the purposes of Sections 9 -334 and 2A -309 of th
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Truster's possession and use of the Property shall bi
<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 central of the Propertl
<br />(2) 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, an
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Treater represents and warrants to Lender that: (l1 During the period of Truster's ownershi
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of an
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believ
<br />that there has been, except as previously disclosed to and acknowledged by Lender In writing, (a) any breech or violation of an
<br />Environmental Laws, (hl any use, generation, manufacture, storage, treatment, disposal, release or threatened release of at
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