|
<br />N
<br />is
<br />is
<br />-....,I
<br />is
<br />()l
<br />CJ)
<br />N
<br />N
<br />
<br />n
<br />~~
<br />".,.:J:
<br />
<br />~
<br />m
<br />"TI
<br />c:
<br />Z
<br />o
<br />~
<br />
<br />o
<br />"
<br />z:
<br />:r: m
<br />l>CO
<br />,:;:;Q
<br />r>
<br />(I>
<br />:x
<br />>
<br />......... -...-
<br />
<br />Q~
<br />mU'i
<br />
<br />~r
<br />
<br />'"'"
<br />(.=~
<br />c::::>
<br />--:I
<br />
<br />C':> (/)
<br />o --j
<br />C:l>
<br />:z:.........
<br />.........m
<br />-<
<br />
<br />o
<br />...,
<br />
<br />,~
<br />--.,
<br />:;x, t\
<br />m~'"~_
<br />0:'::> --
<br />o
<br />-.,
<br />
<br />C-
<br />c.=
<br />r-
<br />
<br />w
<br />
<br />r
<br />
<br />U1
<br />........
<br />
<br />(I>
<br />(J')
<br />
<br />~:?
<br />r11
<br />m
<br />o
<br />(Jl
<br />
<br />::D
<br />::3
<br />
<br />tD
<br />
<br />&+ 6,,11 Re~o....1<tAJ'~
<br />WHEN RECORDED MAil TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br />o~~
<br />r'\.) fit
<br />0 i[
<br />a ~
<br />-J -
<br />c::> :J
<br />c...n ~
<br />m ~
<br />r'\.)
<br />r'\.) .....
<br /> Z
<br /> 0
<br />
<br />3"00
<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 $75,000.00.
<br />
<br />THIS DEED OF TRUST is dated June 26, 2007. among JULIE l PFEIFER and TERRY M PFEIFER. wife and
<br />
<br />husband ("Trustor"); Equitable Bank. whose address is Diers Avenue Branch, PO Box 160, Grand Island, NE
<br />
<br />68802-0160 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and Equitable Bank
<br />
<br />(Grand Island Region), whose address is 113-115 N locust St; PO Box 160, Grand Island, NE 68802-0160
<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 />lot Three (3) and the East Half (E1/2) of lot Four (4), in Block Two (2), in Parkhill Subdivision, an Addition
<br />
<br />to the City of Grand Island. Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 2413 W. John Street, Grand Island, NE 68803. The
<br />
<br />Real Property tax identification number is 400073269.
<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 Trustor so long as Trustor complies with all the terms of the Credit Agreement. Such advances may
<br />be made. repaid, and remade from time to time. subject to the limitation that the total outstanding balance owing at anyone time, not
<br />including finance charges on such balance at a fixed or variable rate or sum as provided in the Credit Agreement. any temporary overages.
<br />other charges. and any amounts expended or advanced as provided in either the Indebtedness paragraph or this paragraph. shall not
<br />exceed the Credit Limit as provided in the Credit Agreement. It is the intention of Trustor and lender that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit as provided in the Credit Agreement
<br />and any intermediate balance.
<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 (BI PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT. THE RELATED DOCUMENTS. AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS:
<br />
<br />PA YMENT 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 Credit
<br />Agreement. this 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 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 />Compliance With Environmental LllWS. 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 />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, defend. and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal. release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />
|