|
-n rn u CC=> °
<br />ry
<br />M3 T '
<br />'o
<br />+tin
<br />o ca
<br />"�
<br />ca i C77
<br />CD :Z N
<br />C:3
<br />1k �� D
<br />"Q
<br />rn 1A
<br />=3 n M'
<br />a
<br />7
<br />CIO
<br />rn
<br />n
<br />(n cn
<br />M
<br />C2
<br />W
<br />M
<br />WHEN RECORDED MAIL TO:
<br />Bank of Clarks
<br />ci
<br />341 N. Green
<br />M P.O. Box 125
<br />Clarks, NE 68628-0125 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $10,000.00. C
<br />THIS DEED OF TRUST is dated June 14, 2001, among Rosanna Mostek, as wife and debtor, Whose address
<br />Is 1110 West 7th. Street, Grand Island, NE 68801 and Terry L. Mostek, as husband, Whose address is 1110
<br />West 7th'. Street, Grand Island, NE 68801 ("Trustor "); Bank of Clarks, whose address is 301 N. Green, P.O.
<br />Box 125, Clarks, NE 68628.0125 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"); and Bank of Clarks, whose address is 301 N. Green, P.O. Box 125, Clarks, NE 68628 -0125
<br />(referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable' consideration,
<br />Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title,
<br />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 nits, ro�iallies, and ofits'relating to the real roperty, Including
<br />"heal "Vlocated ' bounty,
<br />without limitation all minerals, oil, gas; geothermal and similar matters, (the Properly Ill Hall State of
<br />Nebraska:
<br />See Exhibit "A ", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully
<br />set forth herein.
<br />The Real Property or its address Is commonly' known as 1110 West 7th. Street, Grand Island, NE 68801.
<br />CR 3SS- COLLATERALIZATION. in addition to the Noie3, Criis Geed of Trust secures all ubiigatiims, dents and 6a; iiitles, plus ;;Eterest thereon,, of
<br />Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower or any one or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due' or not due,
<br />direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated' whether Borrower or Trustor may be liable
<br />individually or jointly, with others, whether obligated as guarantor, surety, accommodation
<br />party or otherwise, and whether' recovery upon such
<br />amounts may be or hereafter may become barred by any statute of limitations,' and
<br />whether the obligation to repay such amounts may be or
<br />hereafter may become otherwise unenforceable. ,
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future
<br />amounts Lender in its discretion may loan to Borrower, together with all interest thereon; however, in no event shall such future advances
<br />(excluding interest) exceed in the aggregate $10,000.00.
<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
<br />AND THE SECURITY' INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE', (A) PAYMENT' OF THE INDEBTEDNESS
<br />AND (B) PERFORMANCE OF ANY ARID 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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that:; (a) this Deed of Trust Is executed at Borrower's request and not
<br />at
<br />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
<br />;provisions of this Deed of Trust
<br />do not conflict with, or result in a default under any agreement or other instrument binding
<br />upon Trustor and
<br />do not result in a violation of any law,
<br />regulation, court decree or order, applicable to Trustor; (d) Trustor has established
<br />adequate means of
<br />obtaining from Borrower on a continuing basis', information about Borrower's financial condition; and (e) Lender has matte 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 />saie.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness
<br />secured by
<br />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
<br />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
<br />theProperty,sha ►l be governed by the following provisions:
<br />Possession and Use. Until the
<br />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;
<br />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: (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 />except as previously disclosed
<br />to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture,
<br />storage, treatment, disposal, release' or threatened release of any Hazardous
<br />Substance on, under, about
<br />or
<br />from the Property by any prior
<br />owners or occupants of the Property, or (c) any actual or threatened',
<br />litigation or claims of any kind by any
<br />person !relating to such matters;
<br />and (3) Except as previously disclosed to and acknowledged by Leader in writing, (a) neither Trustor nor
<br />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any
<br />
|