|
LUU211111 DEED OF TRUST Page 2
<br />(Continued)
<br />Deed of Trust. The words Mead of Trusl' mean this Dead of Trust among Grantor, Lender and Trustee.
<br />Grantor. The word "Grantor means any and all persons and entities executing this Dead Of Trust. Any Grantor who signs thus Dead of Trust, but
<br />does not login the Chico Agreement, P signing this Deed of Trust only to grant and convey Ihel Grantor's interest in the Real Property and 10 grant
<br />a security interest in Grantor's Interest in the Personal Property to Lender and is not personally liable under the Credit Agreement except as
<br />otherwse provided by contract or law.
<br />Improvements. The word 'Improvements' means and includes without limitation all existing and future improvements, futures, buildings,
<br />structures, mobile homes affixed on the Real PropeM, facilities, additions and other construction on the Real Properly.
<br />Indebtedness. The word indebtedness' means all principal and interest payable under the Credit Agreement and any amounts expanded Or
<br />advanced by Lender to discharge obligations of Grantor or expenses incurred by Trustee or Lender to enforce obligations of Grantor under thus
<br />Deed Of Trust, together with interest on such amounts as provided in this Deed of Trust. SpecMealy, without limitation, this Deed of Trust
<br />secures a revolving line of credit, which obligates Lender to make advances to Grantor W long as Grantor complies ant all Me to ve, of
<br />IN Credit Agreement. Such advances may be made. repaid, and remade from time to time, subject to the limitation that Me fold
<br />oulsLnding balance owing al any one time, not including finance charges on such befit M a Abed or vaHlble rate or sum as popVcNe
<br />In the Credit Agreement, arty temporary averages, other charges, and any amounts expert eA for advanced ee provided In MU paragraph,
<br />shall not exceed the Credit Limit as provided in the Credit Agreement. Notwithstanding the amount outstanding at any particuNr bane,
<br />MIS Deed Of Trust secures the total Credit Agreement amount shown above. The unpald balance of the revolving line of credN may 0
<br />certain Nmee De lower Man the amount Shawn or xro. A xro balance does not terminate Me tine of credit or terminate Lender's
<br />obligation 10 advance funds to Grantor. Therefore, Me Tien of INS Deed of Trust will remain In full force and effect noWithstaoding any
<br />Who balance.
<br />Lease. The word lease" means any lease between Grantor and the Lessor of the Properly.
<br />Lender. The word lender' means NAFCO NE Federal Credit Union, its successors and assigns.
<br />Personal Property. The words -Personal Property' mean all equoment, fixtures, and other amakas of personal property now Or fwrsaXer myraw
<br />by Grantor, and now or rehears, attached or affixed to the Real Property: together with all accessions, parts, and additions to, all replacements r,
<br />and an substitutions for, any of such property; and together with of proceeds (including without limitation all insurance proceeds and refunds of
<br />premiums) from any are or other disposition of the Property.
<br />Property. The word 'Property' means collectively the Real Property and the Personal Property.
<br />Red Property. The words "Real Property' mean the properly, internal and rights described above in the "Conveyance and Granr section.
<br />Releled Documents. The words Welated Documents' mean and include without limitation an promissory notes, credit agreements. loen
<br />agreements, guaranties, security, agreements, mortgages, devil of trust, and all other Instruments and documents, whether now or hereamer
<br />a sting, executed in connection with Grantor's Indebtedness to Lender.
<br />Truatee. The word'Truree' means the enfity shown at the top of page one of this Dead of Trust.
<br />THIS DEED OF TRUST AND, IF ANY, A SECURITY INTEREST IN THE PERSONA. PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE
<br />INDEBTEDNESS AND (2) PERFORMANCE OF EACH AGREEMENT AND OBLIGATION OF GRANTOR UNDER THE CREDIT AGREEMENT, THE
<br />RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />1 PAYMENT AND PERFORMANCE. Except as otherwise provided in the Dead of Trust, Grantor shall pay to Lentler all amounts secured by this
<br />Dead of Trust as they become due, and strait strictly and In a timely manner perform all of Grantor's obligations under the LOANLINERO Home Equity
<br />Ran Credit Agreement and this Deed of Trust.
<br />a. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by
<br />IN followirp provisions:
<br />Fossedal and Uae. Until the Occurrence of an Event of Default, Grantor may (a) remain in possession and control of the Property, (b) use.
<br />Operate a manage the Property, and IS) collect any Rents from the Prop",
<br />Duty to Maintain. Grantor shall maintain the Prop" in tenantable condition and promptly perform all repairs and maintenance necessary to
<br />preserve ns value.
<br />HeWOOUS Substances. Grantor represents and warrants that the Property never has been, and never will be so long as this Dead of Trust
<br />remains a lien on the Property, used for the generation, manufacture, storage, treatment, disposal, release w threatened release of any haIDrdous
<br />waste or substance, es those terms are defined in the Comprehensive Environmental Response, Compensation and Liability Pct of 1980, as
<br />amended, 62 U.S.C. Section 9601, at seq. CCERCLA "), the Superfund Amendments and ReauthomaGOn Act ('SARA"), applicable stale or Federal
<br />laws, Or regulators adopted pursuant to any of the foregoing. Grantor enroriies Lander and its agents to enter upon the Properly to make such
<br />inspections and tests as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust. Grantor
<br />hereby (a) releases and waives any future claims against Lander for indemnity Or contribution in the event Grantor becomes liable for cleanup w
<br />Other cosh under any such laws, and (D) agrees to Indemnity and hold harmless Lender against any and all claims and Iossas resulting from a
<br />breach of this paragraph of the Dead of Trust. This obligation to indemnity shell survive the payment of the Indebtedness and the sebsfaction of
<br />this Dead of Trust.
<br />Nuisance, Waste. Grantor Shall not cause, conduct or permit any nuisance nor commit, Permit, or suffer any shipping of or waste on or to the
<br />Property or any portion of the Property. Specifically without limitation. Grantor will not remove, or grant to any other pant the right to remove, any
<br />amber, minerals (including oil and gas), soil, gravel or rock products without the poor women consent of Lender.
<br />Lender's Right to Enter. Lender and its agents and representatives may enter upon the Real Property at all reasonable times to attend to
<br />Lender's interests and to inspect the Property for purposes of Grantors compliance with the terms and conditions of this Deed of Trust.
<br />Compliance with Governments! Requirements. Grantor shall promptly comply with all laws. Ordinaocos. and regulations of so governmenW
<br />authorities aposa le to the use or Occupancy of the Properly. Grantor may contest in good faith any such law, ordinance, or taguidi and
<br />wa xi compliance dump any proceeding, Including appropriate appeals, so long as Grantor furs nolefied Lender in writing poor to doing so and
<br />so long as Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate Seoul or a surety bond,
<br />reasonably satisfactory to Lender, to protect Li finder's interest.
<br />Duty to Protect. Grantor agrees neither to abandon nor leave unattended the Property. Gmntw shall do all other acts, in addition to those acts
<br />set form above in this section, which from the character and use of the Property are reasonably necessary t0 protect and preserve the Property.
<br />S. COMPLIANCE WITH LEASE. If there is a Lease on the Property, Grantor will pay all rents and will simony observe and perform on a fimry bass all
<br />other lams. covenant, and conditions of the Lease. Grantor fuller agrees (a) not to surrender, terminate. or cancel the Lasse, and (b) not to
<br />modify, change, supplement, suer_ or amend ire Lease either orally or In writing, without Lender's prior written consent. No estate in the Property,
<br />
|