|
<br /> ~ n S
<br /> m %
<br /> "" m
<br /> c: n x ~i
<br /> n z '" ".'
<br /> ,'.:,~~, .J. a
<br /> ~ C p"-~-:). (j'
<br /> % ~ .......... , --3 0 ....
<br /> m ..-. ,..~:-I. c:: :>-
<br /> n >:; ", .~3 z -l
<br />N ,.,. % :n s:., = -l ~
<br />G 0() P1 I......,~ -c -< ~Gr
<br /> ~) ~" -~ c
<br />CSl ($ o~~~ ......... <:) "1
<br />-....J ......... "'1
<br /><Sl '1 -
<br /> t~. ~~"". ~~
<br />UJ 0 :r: f'"
<br />CO .--l .,
<br /> r,-, ~. =n l>- [;:]
<br />UJ '" " ::3 r- ;;::l
<br />N -::;; t: r l'~ :1
<br /> (n en
<br /> \ <.D
<br /> (-- ;?<:
<br /> )>
<br /> G) '--' '--'
<br /> -.J (I) N~
<br /> (I)
<br />
<br />WHEN RECORDED MAil TO:
<br />Equitable Bank A+fn', ~ R.i.l5/')
<br />Diers A venue Branch
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br />.3;'. () 0
<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 $229,403.82.
<br />
<br />THIS DEED OF TRUST is dated May 1. 2007, among Northstar Plaza. l.l.C.. whose address is 320 Redwood
<br />
<br />Rd. Grand Island. NE 68803 ("Trustor"); Equitable Bank. whose address is Diers Avenue Branch. PO Box 160.
<br />
<br />Grand Island. NE 68802-0160 (referred to below sometimes as "lender" and sometimes as "Beneficiary");
<br />
<br />and Equitable Bank (Grand Island Region). whose address is 113-115 N locust St; PO Box 160. Grand Island.
<br />
<br />NE 68802-0160 (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 />lots 3. 4. 5. 6. 9. and 10. Kaaar Subdivision in the City of Grand Island. Hall County. Nebraska.
<br />
<br />The Real Property or its address is commonly known as 1904 Aspen Circle. Grand Island. NE 68803.
<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 (AI PAYMENT OF THE INDEBTEDNESS AND IB) 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 tho..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 all Indebtedness
<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 ~roperty;
<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 Lend.er and its age.nts to en~er 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 be~omes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, de!end, and. h~ld harmless. Lender against a.ny and all
<br />claims, losses. liabilities. damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />
|