|
<br /> ;0 n n
<br /> m % >
<br /> -n
<br /> C 111 CI' ge
<br /> Z n :z:
<br /> (') "" ............)
<br /> n 0 i:':'.:";',"'I a en c:::S" I
<br /> :J: ':::.::;:')
<br /> '"" ;r. S!' "- 0'"'> 0 -,.
<br /> n (It ....~'\~ c=> c 1> ~'
<br /> jJlI: :c ~' = Z -1
<br />N :;::J -1 fT1
<br />CSl rn ,''\-. --I -< ~~
<br />CSl C-) , :(-' .:::,:')
<br />Q) o '..~~\- rv (::) -,',
<br /> (....) --rJ -
<br />CSl " '.~ :~
<br /> ..,'
<br />c.o CJ c:", fil
<br />+:0. m ~ ::n ~,:..
<br />CSl fTl ::3 .- ~(J
<br />...... 0 r- J~ (D3
<br /> r.n ~ f--" UJ
<br /> f--" ;:><; ...c CD
<br /> l> :::J
<br /> N ...................... C)~
<br /> .-.-. c.n ~~
<br /> (/J
<br />
<br />
<br />
<br />,--,"---~_..,--_.
<br />
<br />1&-+, f;n,v~ " /8l1e~ i:t.uL
<br />WHEN RECORDED MAil TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br />.l(/-(/"O
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $250.000.00.
<br />
<br />THIS DEED OF TRUST is dated October 4. 2006. among David L Larson. not personally but as Trustee on
<br />behalf of David L. larson Revocable living Trust dated October 15. 2002. whose address is 505 linden Ave.
<br />Grand Island. NE 68801; and Catherine M. larson, not personally but as Trustee on behalf of Catherine M.
<br />larson Revocable living Trust dated October 15. 2002. whose address is 505 linden Ave. Grand Island, NE
<br />68801 ("Trustor"); Equitable Bank. whose address is Diers Avenue Branch. PO Box 160, Grand Island. NE
<br />68802-0160 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and Equitable Bank
<br />(Grand Island Region). whose address is 113-115 N locust St; PO Box 160. Grand Island, NE 68802-0160
<br />(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 />..---/
<br />lot Nine (9) Eagle lakes Estates Subdivision, Hall County. Nebraska AND lot Eight (8) in "Holcomb's
<br />Highway Homes", a Subdivision of a part of the Northeast Quarter of the Northeast Quarter (NE 1/4NE 1/4)
<br />and a part of Lot Four (4), Mainland. all of Section Twenty-Eight (28) in Township Eleven (11) North, Range
<br />Nine (9) West of the 6th P.M.. Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 505 linden Ave and 317-319 W Stolley Park Rd.
<br />
<br />Grand Island. NE 68801.
<br />
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without limitation. a revolving line of credit. which
<br />obligates lender to make advances to Borrower so long as Borrower complies with all the terms of the Note.
<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 nlE 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 />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 />PA YMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to lender FIll Indehtednf"1s
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Note,
<br />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 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 />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual 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 />
|