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<br />
<br />WHEN RECORDED MAil TO: ,
<br />Five Points Bank /0.-- f~' ;ra+ kt
<br />West Branch
<br />2009 N. Diers Ave.
<br />Grand Island. NE 68803
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />7/C"'50
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $10,000.00.
<br />
<br />THIS DEED OF TRUST is dated December 16, 2005, among JOHN C COCHRAN and JUDY COCHRAN;
<br />
<br />Husband and Wife ("Trustor"); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand
<br />
<br />Island, NE 68803 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and Five
<br />
<br />Points Bank, whose address is P.O Box 1507, Grand Island, NE 68802-1507 (referred to below as
<br />
<br />"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 properly, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real propertY;..including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HALL County, ;:)tate of
<br />
<br />Nebraska:
<br />
<br />lot Eight (8), in Block Seven (7), in Packer and Barr's Addition to the City of Grand Island, Hall County,
<br />
<br />Nebraska.
<br />
<br />The Real Property or its address is commonly known as 515 N BOGGS AVE, GRAND ISLAND, NE
<br />
<br />68803-4629.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in
<br />the Note, all future amounts Lender in its discretion may loan to Trustor, together with all interest thereon; however, in no event shall such future
<br />advances (excluding interest) exceed in the aggregate $10,000.00.
<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 present
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />interest in the Personal Properly 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 (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 />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed 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 Deed of Trust,
<br />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 governed
<br />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 Properly; (2)
<br />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 maintenance
<br />necessary to preserve its value.
<br />
<br />Compliance With Environmental laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership of
<br />the Property. there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
<br />
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