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<br />WHEN RECORDED MAIL TO: '"t'.
<br />American Express Bank, FSB .. ~
<br />Consumer Loan Center (P5-PCLC-01-11 ~, ~
<br />2730 Liberty Avenue ":"
<br />Pittsburah, PA 15222
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<br />200511673
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<br />FOR RECORDER'S USE ONLY
<br />
<br />'!));J TvvZ(T1J DEED OF TRUST l cr~QS!
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $26,500.00.
<br />
<br />THIS DEED OF TRUST is dated November 10, 2005, among MARK A MCMAHON, whose address is 4146
<br />PRAIRIE RIDGE LN, GRAND ISLAND, NE 68803 and MARY R MCMAHON, whose address is 4146 PRAIRIE
<br />RIDGE LN, GRAND ISLAND, NE 68803; HUSBAND AND WIFE ("Trustor"); American Express Bank, FSB,
<br />whose address is Home Lending Headquarters, 4315 South, 2700 West, Salt Lake, UT 84184 (referred to
<br />below sometimes as "Lender" and sometimes as "Beneficiary"); and PNC Bank, National Association, whose
<br />address is 2730 Liberty Avenue, Pittsburgh, PA 15222 (referred to below as "Trustee").
<br />
<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 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 />
<br />See Attached Exhibit A, which is attached to this Deed of Trust and made a part of this Deed of Trust as if
<br />
<br />fully set forth herein.
<br />
<br />The Real Property or its address is commonly known as 4146 PRAIRIE RIDGE LN. GRAND ISLAND. NE
<br />
<br />68803. The Real Property tax identification number is 400410362.
<br />
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without limitation, a revolving line of credit. which
<br />obligates Lender to make advances to Trustor so long as Trustor compiles with all the terms of the Credit Agreement. Such advances may
<br />be made. repaid. and remade from time to time. subject to the limitation that the total outstanding balance owing at anyone time. not
<br />including finance charges on such balance at a fixed or variable rate or sum as provided in the Credit Agreement, any temporary overages.
<br />other charges, and any amounts expended or advanced as provided In either the Indebtedness paragraph or this paragraph, shall not
<br />exceed the Credit Limit as provided In the Credit Agreement, It is the Intention of Trustor and Lendar that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreement from time to time from <tero up to the Credit Limit as provided In the Credit Agreement
<br />and any intermediate balance.
<br />
<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 />
<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 (AI PAYMENT OF THE INDEBTEDNESS AND (BI 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 />
<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 Trustor's obligations under the Credit
<br />Agreement, this Deed of Trust, and the Related Documents,
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY, Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />
<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 (3) collect the Rents from the Property,
<br />
<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 />
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1 I During the period of Trustor'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 reason 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 />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resultil'\~ from a breach of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />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 />
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