|
A
<br />prTl
<br />r = D
<br />did
<br />= Ln T r -. 'L < m
<br />i N
<br />m
<br />Tc
<br />LL i
<br />r-
<br />f to
<br />I �N
<br />v w rp
<br />N N N rt
<br />ry 0
<br />WHEN RECORDED MAIL TO: 200307330. 1
<br />United Nebraska Bank
<br />Grand Island Office
<br />PO Box 5018
<br />Grand l l an,, NE 68802 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST 3SS
<br />THIS DEED OF TRUST is dated June 10, 2003, among Archway Partnership, a Nebraska Partnership, whose
<br />address is 211 West Third Street, Grand Island, NE 68801; ( "Trustor "); United Nebraska Bank, whose address
<br />is Grand Island Office, PO Box 5018, Grand Island, NE 68802 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary "); and United Nebraska Bank , whose address is 700 N. Webb, Grand Island, NE
<br />68802 (referred to below as '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 Tructor'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 casements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock In utilities with ditch or irrigation rightel; and all other rights, royalties, and profits relating to the real
<br />,upur y. md,ibu, without — itat'ue all minerals, fill, as geothermal and similar matters, (the "Real Property') located in Hall
<br />County, State of Nebraska:
<br />The Southerly 64 feet of the Westerly One Fourth of the Northerly One Half of Block Tan (10) in
<br />Wlndolph's Addition to the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 611 South Washington, Grand Island, NE 68801.
<br />The Real Property tax identification number is 400140160.
<br />Truster presently assigns to Lender (also known as Beneficiary In this Deed of Trust) all of Tractor'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, Trustor grants to Lender a Uniform Commercial
<br />Code security Interest m 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 15) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST 15 GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Truster warrants that: (a) this Deed of Trust Is executed at Borrower's request and
<br />not at the request of Lender; ff Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, reguhtax , court decree or order applicable to Trustor, (d) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and le)
<br />Lender has made no representation to 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
<br />law which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lander is otherwise
<br />entitled to a claim fur deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale,
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Burrower shall pay to Lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the
<br />Note, this Deed of trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Tractor's possession and use of
<br />the Property shall be 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 (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor 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. Trustor represents and warrants to Lender that (11 During the period of Tractor's ownership
<br />of the Property, than: has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person our under, about or from the Property; (2) Tractor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender In writing, la) any breach or violation of any
<br />Environmental Laws, Ih) 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 (c1 any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and 131 Except as previously disclosed to and
<br />acknowledged by Lender in writing, (al neither Trustor 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 N) 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 such Inspections and tests, at Theater's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed pf Trust. Any inspections or teats made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence In Investigating the Property for Hazardous Substances. Trustor
<br />hereby I I ) releases and waives any future claims against Lender for indemnity or contribution In the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all claims, losses,
<br />IsAelde s, damages, penalties, and ..ounces which Lender may directly or indirectly sustain or suffer resulting from a breach of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />occurring prior to Truster's ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The previsions of this section of the Dead of Trust, Including the obligation to indemnify, shall survive the payment of the
<br />
|