|
<br />D . + Vrvv--
<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />P.O. BoxoMCl 57'13
<br />#-t4-l:ltBarre 6-'I I'{ t ft, J>30-z.,
<br />Gi~-688'46
<br />
<br />e
<br /> ,.....:1
<br /> (~":"'~:JI C) Ul
<br /> ~ I
<br /> ~t~, <!:T;> 0 -i c::>
<br /> :1.': c::: l> N
<br /> (..... "\.~ Z .....;
<br />:::tJ ~4 -0 .....; rT1
<br />rT1 ,1_ :::0 -< c::>
<br />\4) (.~- 0
<br />o""f 0 " c::>
<br />'1 c..v '1 "''" a:-
<br /> t; ...,L.., 0)
<br />C~, " ~J._: r-"
<br />rTl .',\ --"0 l> (f) C> 3'
<br />rT1 l :3 r ;;U
<br />0 r t.. N i
<br />(f) I---' U1
<br /> rv :;:0<: CO
<br /> l> en
<br /> c..n --- ---
<br /> ........ U1 CO
<br /> Ul r+
<br /> Z
<br /> 0
<br />
<br />200602868
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />~s'~of.t.
<br />THIS DEED OF TRUST is dated'1Vlarch 31, 2006, among Grand Island Venue, LLC, A Nebraska Limited Liability
<br />Company, whose address is 2502 A North Webb Road, Grand Island, NE 68803 ("Trustor"); Exchange Bank,
<br />whose address is P.O. Box 760, #14 LaBarre, Gibbon, NE 68840 (referred to below sometimes as "Lender"
<br />and sometimes as "Beneficiary"); and Exchange Bank-Grand Island Branch, whose address is P.O. Box 5793.
<br />Grand Island, NE 68802 (referred to below as "Trustee").
<br />
<br />CORRECTIVE
<br />DEED OF TRUST
<br />
<br />3/.(J7J
<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 />Lots Three (3) and Four (4), in Block Sixty-Eight (68), in the Original Town. now City of Grand Island, Hall
<br />
<br />County, Nebraska
<br />
<br />The Real Property or its address is commonly known as 213 N Sycamore Street, Grand Island, NE 68801.
<br />
<br />The Real Property tax identification number is 40005786.
<br />
<br />CROSS-COLLATERALlZATlON. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of Trustor to Lender, or anyone or more of them, as well as all claims by Lender against Trustor or anyone or more of them,
<br />whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise,
<br />whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether
<br />d_ -recuvery Uf-iUII :>u"j, .,,,,uullts'"may be ortrereaftlwmay bet:ume barred by any statute ofiimitations, and whe(her the obligation to ,l;pay
<br />such amounts may be or hereafter may become otherwise unenforceable.
<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.
<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 />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 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 Default, Trustor may (1) remain in possession and control of the Property; (2) use, operate or manage
<br />the Property; and (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable 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 />Haz'!'daus S'.!bSt;Jr1C8":JJ1, under, :1bout or from tho- Property by any prior owne.-s or occupants of ihe PrOl,lei iy, vr iL) <lilY J(;lual 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 resulting 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 />The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the
<br />
|