|
m s
<br />V� <5
<br />u 1
<br />u N
<br />LJ
<br />Cis
<br />�r,V >�a'F1Lyy
<br />WHEN RECORDED MAIL T0:
<br />Five Points Bank
<br />West Branch
<br />2009 N. plate Ave.
<br />Grand Island, NE 68803 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 $20,092.00.
<br />THIS DEED OF TRUST is dated November 4, 2002, among MATTHEW J WESTFALL and BONNIE M
<br />WESTFALL, HUSBAND AND WIFE ( "Trustor "); Five Points Bank, whose address is West Branch, 2009 N. Diets
<br />Ave., Grand Island, NE 68803 (referred to below sometimes as "Lender' and sometimes as "Beneficiary ");
<br />and Five Points Bank, whose address is P.0 Box 1507, Grand Island, NE 68802 -1507 (referred to below as
<br />"Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lander as Beneficiary, all of Trustor'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 easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or 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 />ALL OF FRACTIONAL LOT ONE (1). BLOCK SIX (6). WOODBINE ADDITION TO THE CITY OF GRAND
<br />ISLAND, AND ITS COMPLEMENT TO WIT: FRACTIONAL LOT ONE (1). BLOCK SIXTEEN (16) OF
<br />CHARLES WASMER'S ADDITION AND WASMER'S ANNEX TO THE FIRST ADDITION TO THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 2003 W DIVISION ST, GRAND ISLAND, NE
<br />68803 -5432.
<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
<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 IB) PERFORMANCE OF ANY AND 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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Truster, obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the fallowing provisions:
<br />Possession and Use. Until the occurrence of an Event of Default. Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (31 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 />Compliance With Environmental Laws. Trustor represents and warrants to Lender that; (11 During the period of Toaster's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or eon to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />
|