|
<br />N
<br />o
<br />o
<br />""-J
<br />o
<br />U1
<br />U1
<br />c.o
<br />0J
<br />
<br />I
<br />:I=i
<br />Z
<br />S
<br />G')
<br />I'TI
<br />....
<br />=i
<br />r-
<br />I'TI
<br />en
<br />I'TI
<br />:::a
<br />-=
<br />c:;
<br />...,
<br />en
<br />
<br />n
<br />:z::
<br />m
<br />n
<br />'"
<br />
<br />~
<br />en
<br />::E:
<br />
<br /> ~ i
<br /> c:..> 0 (A,i' eo
<br /> c;;:> 0 -4
<br /> --.11
<br /> -...., l c::: 1> N
<br /> ....-" ", C-. :z: -1
<br />;;lJ ~" c.:: -1 rn 0
<br />m ~).. r- -< 0 Gr
<br /><..~ (.......... 0 -., 0
<br />c'i: N -., :z: -.J -
<br />-" t~~ r1'1 ::J
<br /> ::r;
<br />a :t>- o:; 0 ~
<br />""1 r~ \J r- ::b
<br />m :::3 r j> c.n
<br /><:;;1 (t) !
<br />'" N ~ c.n
<br /> ~ 1> c..o
<br /> U1 -..;.i',,~
<br /> 0 0 c...:> ~
<br /> IlB
<br /> ".
<br />
<br />
<br />~
<br />m
<br />."
<br />c:
<br />n Z
<br />~~~
<br />~:c
<br />
<br />~
<br />
<br />-...
<br />
<br />WHEN RECORDED MAIL TO:
<br />FIVE POINTS BANK OF HASTINGS
<br />MAIN BANK
<br />2815 OSBORNE DRIVE WEST
<br />HASTINGS, NE 68901
<br />
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $650.000.00.
<br />
<br />THIS DEED OF TRUST is dated June 13. 2007. among MATTHEW MASER and KRISTEN MASER; HUSBAND
<br />AND WIFE ("Trustor"); FIVE POINTS BANK OF HASTINGS. whose address is MAIN BANK. 2815 OSBORNE
<br />DRIVE WEST. HASTINGS. NE 68901 (referred to below sometimes as "lender" and sometimes as
<br />"Beneficiary"); and Five Points Bank of Hastings. whose address is 2815 Osborne Drive West. Hastings. NE
<br />68901 (referred to below as "Trustee").
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />~
<br />
<br />Co
<br />
<br />v
<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 Two (2) and Three (3) in Morningside Acres Fourth Subdivision in the City of Grand Island. Hall
<br />
<br />County. Nebraska
<br />
<br />The Real Property or its address is commonly known as lots 2 & 3 Morningside Acres 4th Sub City of Grand
<br />
<br />Island. Hall County. NE.
<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 $650,000.00.
<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 (AI PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND All OBLIGATIONS
<br />UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE 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 />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<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 />Hazardous Substances. Trustor represents and warrants that the Property never has been. and never will be so long as this Deed of
<br />Trust remains a lien on the Property, used for the generation, manufacture, storage, treatment, disposal, release or threatened release
<br />of any Hazardous Substance in violation of any Environmental laws. Trustor authorizes lender and its agents to enter upon the
<br />Property to make such inspections and tests as lender may deem appropriate to determine compliance of the Property with this
<br />section of the Deed of Trust. Trustor hereby (1) releases and waives any future claims against lender for indemnity or contribution
<br />in the event Trustor becomes liable for cleanup or other costs under any such laws, and (2) agrees to indemnify, defend, and hold
<br />harmless lender against any and all claims and losses resulting from a breach of this paragraph of the Deed of Trust. This obligation
<br />to indemnify and defend shall survive the payment of the Indebtedness and the satisfaction of this Deed of Trust.
<br />
<br />Construction loan. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct or complete
<br />construction of any Improvements on the Property, the Improvements shall be completed no later than the maturity date of the Note
<br />(or such earlier date as lender may reasonably establish) and Trustor shall pay in full all costs and expenses in connection with the
<br />work. Lender will disburse loan proceeds under such terms and conditions 8S lender may deem reasonably necessary to insure that
<br />the interest created by this Deed of Trust shall have priority over all possible liens, including those of material suppliers and workmen.
<br />lender may require, among other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of
<br />liens, construction progress reports, and such other documentation as lender may reasonably request.
<br />
<br />DUE ON SALE - CONSENT BY lENDER. lender may, at lender's option, declare immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, without lender's prior written consent, of all or any part of the Real Property, or any interest in the
<br />Real Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal,
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract
<br />for deed, leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any
<br />beneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real
<br />
|