|
THIS DEED OF TRUST is dated June 7, 2002, among JEFFREY D. PALU and SUZANNE J. PALU; as Husband
<br />and Wife ( "Trustor"1; State Farm Bank, F.S.B., whose address is Bank Loan Center, One State Farm Plaza,
<br />Bloomington. IL 61710 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and State
<br />Farm Bank, F.S.B., whose address is PO Box 419001, St. Louis, MO 63141 (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 Truster's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, imp mvemems antl fixtures; ell easementsr rights of way, antl app.nomin eea; all water, water
<br />rights and ditch rights (including stock In utilities with ditch er irrigation rights); and all other rights, 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 />LOT NINE (9), WESTWOOD PARK FIFTH SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA
<br />The Real Property or its address Is commonly known as 4151 ELMWOOD DRIVE, GRAND ISLAND, NE
<br />68803. The Real Property tax identification number is 400397900
<br />REVOLVING LINE OF CREDIT. Specifically, in addition to the amounts specified in the Indebtedness definition, and without limitation, this
<br />Deed of Trust secures a revolving line of credit, which obligates Lender to make advances to Trustor so long as Trustor complies wlth .II
<br />the terms of the Credit Agreement. Such ativances may be mad., repaid, antl remade from time to time subject to the limitation that the
<br />total outstanding balance awing at any one time, not Including finance charges on such balance at a fixed or variable rate or sum as
<br />provided in the Credit Agreement, any temporary oversees, other charges, and any amounts expended or advanced as provided in either
<br />the Indebtedness paragraph or this paragraph, shall not exceed the Credit Limit as provided in the Credit Agreement. It is the intention of
<br />Trustor and Lender that this Deed of Trust secures the balance outstanding under the Credit Agreement from time to time from zero up to
<br />the Credit Limit as provided in this Deed of Trust and any Intermediate balance.
<br />Trustor presently assigns to Lender lalso 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 Property and all Rents from the Property. In addition, Trustor 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 19) PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided In the Dead of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Decd of Trust as they become due, antl shall strictly and in a timely manner perform all of Trustor's obligations under the Credit
<br />Agreement, this Decd of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Truster 'a possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the odrundons 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 131 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
<br />maintenance necessary to preserve Its value.
<br />m
<br />n n
<br />n =
<br />T
<br />!'1
<br />Z
<br />O i•
<br />D
<br />O —1
<br />o o.
<br />�
<br />H
<br />o
<br />_
<br />r n
<br />O
<br />N
<br />F-x
<br />to
<br />N
<br />W
<br />v
<br />N
<br />I O
<br />a
<br />WHEN RECORDED MAIL TO:
<br />State rm k, F.S.B.
<br />POBo
<br />M d' WI 05 -0961 Qlsia9•
<br />FOR
<br />RECORDER'S USE ONLY
<br />aYraf Anuarki n Easily lean
<br />7777
<br />n0nhomme. Suite 1603
<br />Clayton, MO 631115
<br />DEED OF TRUST
<br />p
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any
<br />one time $19,900.00.
<br />so
<br />THIS DEED OF TRUST is dated June 7, 2002, among JEFFREY D. PALU and SUZANNE J. PALU; as Husband
<br />and Wife ( "Trustor"1; State Farm Bank, F.S.B., whose address is Bank Loan Center, One State Farm Plaza,
<br />Bloomington. IL 61710 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and State
<br />Farm Bank, F.S.B., whose address is PO Box 419001, St. Louis, MO 63141 (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 Truster's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, imp mvemems antl fixtures; ell easementsr rights of way, antl app.nomin eea; all water, water
<br />rights and ditch rights (including stock In utilities with ditch er irrigation rights); and all other rights, 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 />LOT NINE (9), WESTWOOD PARK FIFTH SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA
<br />The Real Property or its address Is commonly known as 4151 ELMWOOD DRIVE, GRAND ISLAND, NE
<br />68803. The Real Property tax identification number is 400397900
<br />REVOLVING LINE OF CREDIT. Specifically, in addition to the amounts specified in the Indebtedness definition, and without limitation, this
<br />Deed of Trust secures a revolving line of credit, which obligates Lender to make advances to Trustor so long as Trustor complies wlth .II
<br />the terms of the Credit Agreement. Such ativances may be mad., repaid, antl remade from time to time subject to the limitation that the
<br />total outstanding balance awing at any one time, not Including finance charges on such balance at a fixed or variable rate or sum as
<br />provided in the Credit Agreement, any temporary oversees, other charges, and any amounts expended or advanced as provided in either
<br />the Indebtedness paragraph or this paragraph, shall not exceed the Credit Limit as provided in the Credit Agreement. It is the intention of
<br />Trustor and Lender that this Deed of Trust secures the balance outstanding under the Credit Agreement from time to time from zero up to
<br />the Credit Limit as provided in this Deed of Trust and any Intermediate balance.
<br />Trustor presently assigns to Lender lalso 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 Property and all Rents from the Property. In addition, Trustor 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 19) PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided In the Dead of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Decd of Trust as they become due, antl shall strictly and in a timely manner perform all of Trustor's obligations under the Credit
<br />Agreement, this Decd of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Truster 'a possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the odrundons 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 131 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
<br />maintenance necessary to preserve Its value.
<br />
|