|
<br />I
<br />
<br />CJ
<br />
<br />~
<br />
<br />
<br />I\.)
<br />CSl
<br />CSl
<br />en
<br />CSl
<br />.l:>.
<br />.....
<br /><.n
<br />-....,J
<br />
<br />
<br />WHEN RECORDED MAIL TO:
<br />Five Points Bank
<br />"Your Hometown Bank"
<br />2015 N. Broadwell
<br />P.O. Box 1507
<br />Grand Island, NE 68802-1507
<br />
<br />DEED OF TRUST
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />+-
<br />
<br />c"'>
<br />-\~
<br />(--
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $200.000.00.
<br />
<br />THIS DEED OF TRUST is dated May 5. 2006. among HAROLD D LAUTENSCHLAGER and RUTH M
<br />
<br />LAUTENSCHLAGER; HUSBAND AND WIFE ("Trustor"); Five Points Bank. whose address is "Your Hometown
<br />Bank". 2015 N. Broadwell. P.O. Box 1507. Grand Island. NE 68802-1507 (referred to below sometimes as
<br />
<br />"Lender" and sometimes as "Beneficiary"); and Five Points Bank. whose address is P.O Box 1507. Grand
<br />Island. NE 68802-1507 (referred to below as "Trustee").
<br />
<br />CONVEYANCE AND GRANT. For valuable consideration. Trustor convoys 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 red I
<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 FOURTEEN (14) IN BLOCK FOUR (4), IN REPLAT OF RIVERSIDE ACRES. AN ADDITION TO THE CITY
<br />OF GRAND ISLAND. HALL COUNTY. NEBRASKA.
<br />
<br />The Real Property or its address is commonly known as 2217 APACHE RD. GRAND ISLAND. NE 68801.
<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 $200,000.00.
<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 (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 />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 />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 />ComplianclI 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 />
|