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<br />WHEN RECORDED MAIL TO: ry 1 w
<br />United Nebraska Beak 200214187
<br />Grand Island Office
<br />PO Box Sala
<br />I nd. NE 68802 FOR RECORDER'S E ONLY
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />THIS DEED OF TRUST is dated December 13, 2002, among Tim C Plate and Curt L Ratliff; both ash \_
<br />unmarried individuals ( "Trustor'); United Nebraska Bank, whose address is Grand Island Office, PO Box
<br />5018, Grand Island, NE 68802 (referred to below sometimes as "Lender" and sometimes as "Beneficiary");
<br />and United Nebraska Bank , whose address is 700 N. Webb, Grand Island, NE 68802 (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 />Lender as Beneficiary, all of Trustors right, atle, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvement and fixtures; all easements, rights of way, and appurtenances; all water, water rights and
<br />ditch rights (including stock in ufilifies with ditch or irrigation right); and all other right, royalties, and profits relating to the real property, including o
<br />without limitation all minerals, on, gas, geothermal and similar matters, (the "Real Property ") located In Hall County, State f
<br />Nebraska;
<br />Lot Sixteen (16), Westwood Park Sixth Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The Real Property or Its address Is commonly known as 4170 Norwood Dr, Grand Island, NE 68803. The
<br />Real Property tax Identification number is 400406055
<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 Properly and all Rents from the Property. In addition, Trustor grant 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 AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) 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 Dead of Trust, Trustor shall pay to Lender all amounts secured by this
<br />Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this Dead of Trust,
<br />and the Related Document.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the Uniform
<br />Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed
<br />by the following provisions:
<br />Possession and Use. Until the 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; 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 it value.
<br />Compliance With Environmental Laws. Trustor represent and warrant to Lender that: (1) During the period of Trustors 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 to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or Occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters: and (3) Except as previously disclosed to and acknowledged by Lender 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 />Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and
<br />it agents to enter upon the Property to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to
<br />determine compliance of the Property with this section of the Dead of Trust. Any inspections or test made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the pad of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnity and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breech
<br />of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened
<br />release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnity, shall survive the payment of the Indebtedness and
<br />the satisfaction and reconveyance of the lien of this Dead of Trust and shall not be affected by Lender's acquisition of any interest in the
<br />Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any shipping of or waste on or to
<br />the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to any other
<br />party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock product without Lender's prior
<br />written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior written
<br />consent. As a condition to the removal of any Improvement, Lender may require Trustor to make arrangements satisfactory to Lender to
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