|
<br /> ..., Q$c
<br /> f1 m
<br /> "TI
<br /> c: m en
<br /> ... " Z ()%
<br /> n '"
<br /> ~ :J: ~ C
<br /> m ~
<br />'" n
<br />is , '" :E: l)J
<br />is
<br />""-J -s-
<br />is
<br />w 8
<br />+:>.
<br />""-J
<br />""-J
<br />
<br />-'
<br />
<br /> ;,.,~ o~
<br /> r(;:.::...J. 0 Ul
<br /> <::::;>
<br /> -.3 0 -!
<br /> ...........' C :J::~ Nfl
<br /> ,.....~," J) Z -1
<br /> " "- -0
<br />A:J ~ -l fT1 ~a;-
<br />m ~- :::0 --<
<br />,,-) ~ "~- 0
<br /> c.>..t"- 0.) 0 .,
<br /><..~ '4t" C) "TJ --,. -
<br />.-" .-.I,,~ ~~
<br />C) 'U. I n,
<br />" 1> CD
<br />fT' o. -0
<br />I" ~ ::3 I :;:l:l
<br />0 I :t> ~i
<br />U) (fl
<br /> t- c...:J ^
<br /> po.
<br /> c..n ......,.........,..
<br /> ....L: en -.lZ
<br /> (fl 0
<br />
<br />WHEN RECORDED MAIL TO:
<br />CORNERSTONE BANK
<br />Main Bank Facility
<br />529 Lincoln Avenue
<br />P.O. Box 69
<br />York, NE 68467
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />~J
<br />
<br />THIS DEED OF TRUST is dated April 30, 2007, among Braasch Professional Building, L.L.C.; A Nebraska
<br />
<br />Limited Liability Company ("Trustor"); CORNERSTONE BANK, whose address is Main Bank Facility, 529
<br />
<br />Lincoln Avenue, P.O. Box 69, York, NE 68467 (referred to below sometimes as "Lender" and sometimes as
<br />
<br />"Beneficiary"); and CORNERSTONE BANK, whose address is 529 LINCOLN AVENUE, YORK, NE 68467
<br />
<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 />
<br />County, State of Nebraska:
<br />
<br />Fractional Lot One (1) and Lot Ten (10), in Fractional Block Twenty Seven (27), in Schimmer's Addition to
<br />
<br />the City of Grand Island, Hall County, Nebraska and that part of vacated alley as shown in Ordinance No.
<br />
<br />3361, recorded in Book 5, Page 635
<br />
<br />The Real Property or its address is commonly known as 1804 N Cleburn, Grand Island, NE 68801.
<br />
<br />CROSS-COLLATERALlZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of either Trustor or Borrower to Lender, or anyone or more of them, as well as all claims by Lender against Borrower and Trustor
<br />or anyone or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether
<br />voluntary or otherwise, whether due or not due, direct or indirect determined or undetermined, absolute or contingent, liquidated or
<br />unliquidated, whether Borrower or Trustor may be liable individually or jointly with others, whether obligated as guarantor, surety,
<br />accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br />limitations, and whether the obligation to repay 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 Borrower, 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 />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 and Trustor shall pay to Lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />obligations under the Note, 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 />
<br />(:;)
<br />
|