|
<br />fi1
<br />:0-
<br />f;
<br />,
<br />
<br />
<br /> ;;0 n ~
<br /> m :t:
<br /> .." m ~
<br /> c::: () ::II
<br />() Z '"
<br />J: (') 0
<br />iTI > ~
<br />("') (f)
<br />~ :I:
<br /> ... \
<br /> ~
<br />
<br /> r-,,:,
<br /> ~ OUl
<br /> c:::o> 0 I
<br /> ~~ c:r.> o -l
<br /> ":D c:::1> N
<br />~-f' ;:z-l
<br />-0 -I1Tl
<br />:;0 -<0 0
<br />N O"'T'1 C>
<br />,., 0 "'T'1z r:
<br /> r 0')
<br />0 :r:: ITl
<br />rT1 lJ l> CO 0 -
<br />::J
<br />rT1 ::3 ' :::D ~
<br />0 ':1> W
<br />c.n Ul
<br /> c...t) ;:0;: en
<br /> ~ w ~
<br /> Co:) ""'- ""'-
<br /> CO en CO
<br /> en "
<br /> 2
<br /> 0
<br />
<br />I\.)
<br />C$l
<br />iSl
<br />0)
<br />iSl
<br />(,.U
<br />(Jl
<br />(,.U
<br /><0
<br />
<br />WHEN RECORDED MAIL TO:
<br />Five Points Bank
<br />West Branch
<br />2009 N. Diers Ave.
<br />Grand Island, NE 68803
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<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 />
<br />~
<br />IJ"'-
<br />(.' \, f'...
<br />........~... "V ""
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $235,000.00.
<br />
<br />THIS DEED OF TRUST is dated April 18, 2006, among ERIC A SCHULTE AND ANGELA D SCHULTE,
<br />HUSBAND AND WIFE, AND KEVIN J SCHULTE AND HEATHER E SCHULTE, HUSBAND AND WIFE ("Trustor");
<br />
<br />Five Points Bank, whose address is West Branch. 2009 N. Diers Ave.. Grand Island. NE 68803 (referred to
<br />below sometimes as "Lender" and sometimes as "Beneficiary"); and Five Points Bank. whose address is P.O
<br />Box 1507. Grand Island. NE 68802-1507 (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 />Lot Four (4). Westwood Park Eighth Subdivision, in the City of Grand Island. Hall County. Nebraska.
<br />
<br />The Real Property or its address is commonly known as 4117 FLEETWOOD DR. GRAND ISLAND. NE 68803.
<br />The Real Property tax identification number is 400420449.
<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
<br />specified in the Note, all future amounts Lender in its discretion may loan to Trustor, together with all interest thereon; however, in no
<br />event shall such future advances (excluding interest) exceed in the aggregate $Z35,000.00.
<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
<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 ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE. THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST. INCLUDING THE ASSIGNMENT
<br />OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF
<br />TRUSTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR AND LENDER OF EVEN
<br />DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THEREIN. SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND
<br />ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />PA YMENT 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 Note, this
<br />Deed of Trust, and the Related Documents.
<br />
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334 and ZA-309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<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 />,~
<br />
|