|
<br />10
<br />m
<br />"'T1
<br />c:
<br />Z
<br />c
<br />~
<br />
<br />Q~
<br />m (f)
<br />O::I:
<br />'"
<br />
<br />...-.:.
<br /><=:>
<br />~
<br />-..J
<br />C-
<br />c::
<br />r-
<br />
<br />N
<br />0')
<br />
<br />Oct.'>
<br />;!-i
<br />_:)00.
<br />;e-i
<br />-ilTf
<br />-<0
<br />o ."
<br />"'z
<br />::c fT!
<br />l>CI?
<br />r- ::0
<br />r->.
<br />en
<br />-~..
<br />.~
<br />I
<br />
<br />.~ ~
<br />(")(1)
<br />":.l:
<br />
<br />~
<br />;;lJ..~..'
<br />:6
<br />
<br />C>
<br />
<br />
<br />~r
<br />
<br />N
<br />N
<br />
<br />N
<br />S
<br />S
<br />-...,J
<br />S
<br />0)
<br />W
<br />N
<br />W
<br />
<br />8
<br />
<br />=0
<br />::a
<br />~
<br />
<br />-----.
<br />
<br /><iOn:
<br />
<br />fU;t &W-,' ,e,J\lU.- eu., U
<br />WHEN RECORDED MAil TO:
<br />Equitable Bank
<br />Diers A venue Branch
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br />ga
<br />.<::) fit
<br />N[
<br />~~
<br />~i
<br />Cl>3
<br />~l
<br />Wf!f
<br />
<br />FOR RECORDER'S USE ONLY
<br />3& .c.rt)
<br />
<br />DEED OF TRUST
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $5.000.00.
<br />
<br />THIS DEED OF TRUST is dated July 11. 2007. among KAREN S PUCKETT and DANiEl S PUCKETT;
<br />
<br />HUSBAND AND WIFE ("Trustor"); Equitable Bank. whose address is Diers Avenue Branch. PO Box 160. Grand
<br />
<br />Island. NE 68802-0160 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and
<br />
<br />Equitable Bank (Grand Island Region). whose address is 113-115 N locust St; PO Box 160. Grand Island. NE
<br />
<br />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 />THE WEST FIFTEEN (15) FEET OF lOT NINE (9) AND THE EAST FORTY SEVEN (47) FEET OF lOT EIGHT
<br />
<br />(8). BLOCK EIGHT (8). MORRIS FIFTH ADDITION TO THE CITY OF GRAND ISLAND. HAll COUNTY.
<br />
<br />NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 408 E 18TH ST. GRAND ISLAND. NE 688012441.
<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 Credit Agreament. Such advances
<br />may be made. repaid, and remade from time to time. subjact to the limitation that tha total outstanding balance owing at any ona time. not
<br />including finance charges on such balance at a fixed or variable rate or sum as provided in tha Credit Agreement, any temporary ova rages.
<br />other charges. and any amounts expanded or advanced as provided in either the Indebtedness paragraph or this paragraph. shall not
<br />exceed the Cradit limit as provided in tha 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 tha Cradit Agreement
<br />and any intermediate balanca.
<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 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 />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, regullltion, 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 Ilgllinst Trustor, including a clllim 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 Credit
<br />Agreement, 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 good 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, trellt, 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 authori~es lender and its agents to enter upon the Property
<br />
<br />~ ~ ., j
<br />
|