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<br />~0011+1 00426370378020
<br />SON, THOR
<br />D OF TRUST I MORTGAGE
<br />
<br />RlF~ - -----
<br />WHEN RECORDED MAil TO:
<br />JPMorgan Chase Bank, N.A.
<br />Retail Loan Servicing KY2.1606
<br />P.O. Box 11606 ~eft'
<br />Lexlnaton, KY ~9b/t; lG9&
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<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />S
<br />6.c'O
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $25,000.00.
<br />
<br />THIS DEED OF TRUST is dated February 23, 2006, among THOR A LARSON and JENNIFER P LARSON,
<br />
<br />HUSBAND AND WIFE AS JOINT TENANTS AND NOT AS TENANTS IN COMMON, whose address is 2310 W
<br />
<br />LOUISE ST, GRAND ISLAND, NE 68803 ("Trustor"); JPMorgan Chase Bank, NA, whose address is Home
<br />
<br />Equity and Consumer Lending Division, 1111 Polaris Parkway, Columbus, OH 43240 (referred to below
<br />
<br />sometimes as "lender" and sometimes as "Beneficiary"); and American Title Insurance Co., whose address is
<br />
<br />12105 West Center Road, Omaha, NE 68144 (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 />
<br />County, State of Nebraska:
<br />
<br />Parcel 10 Number: 4000 107 12
<br />
<br />THE EASTERLY 45 FEET OF lOT SIXTEEN (16) AND THE WESTERLY THIRTY.FOUR FEE OF lOT
<br />
<br />SEVENTEEN (17) All IN BLOCK FIVE (5) IN ASHTON PLACE, AN ADDITION TO THE CITY OF GRAND
<br />
<br />ISLAND, IN HALL COUNTY, NEBRASKA.
<br />
<br />The Real Property or its address is commonly known as 2310 W LOUISE ST, GRAND ISLAND, NE 68803.
<br />
<br />The Real Property tax identification number is 4000 107 12.
<br />
<br />REVOLVING LINE OF CREDIT. Specifically, in addition to the amounts specified in the Indebtedness definition, and without limitation, this
<br />Deed of Trust secures a revolving line of credit, which obligates lender to make advances to Borrower so long as Borrower complies with
<br />all the terms of the Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the limitation that
<br />the total outstanding balance owing at anyone time, not including finance charges on such balance at a fixed or variable rate or sum as
<br />provided in the Credit Agreement, any temporary overages, other charges, and any amounts expended or advanced as provided in either
<br />the Indebtedness paragraph or this paragraph, shall not exceed the Credit Limit as provided in the Credit Agreement. It is the intention of
<br />Trustor and Lender that this Deed of Trust secures the balance outstanding under the Credit Agreement from time to time from zero up to
<br />the Credit Limit as provided in this Deed of Trust 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 (B) 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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br />not at the request of lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br />lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent lender from bringing any action against Trustor, including a claim for deficiency to the extent lender is otherwise
<br />entitled to a claim for deficiency, before or after lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the
<br />Credit Agreement, this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be 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) 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 />
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