|
<br />
<br />~~
<br />ncn
<br />~:c
<br />
<br />
<br />~
<br />z
<br />o
<br />~
<br />
<br />
<br />N
<br />CSl
<br />CSl
<br />-....J
<br />CSl
<br /><0
<br />W
<br />-....J
<br />N
<br />
<br />200709372
<br />
<br />WHEN RECORDED MAIL TO:
<br />Five Points Bank
<br />West Branch
<br />2009 N. Diers Ave.
<br />Grend Islend, NE 68803
<br />
<br />)
<br />
<br />8
<br />
<br /> r,~ i
<br /> oC~ 0 (/1
<br /> <:::>
<br /> ~.( --:J 6 -~ 0
<br /> L~ c:: 1:>0-
<br /> " . , ....., f'0
<br /> fl" z
<br />::rJ c:;> -j rn
<br />r'q ,.....).. c:=; 0
<br />.;) {>-- -< C~"'; ~
<br /> "t- o ""'1'1 C)
<br />0""
<br />." .-... ." -
<br /> tt ..':~ -.) i
<br />I:;;' t"'r'i
<br />I"T1 f} -0 :r... en C)
<br />rT1 :3 r- ~:J
<br />u;l r 1:>0- CD
<br />(J? (n
<br /> t. N ^ c..J
<br /> 1> -.)
<br /> U1 ............'~
<br /> N (f) N I
<br /> (j,
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />-~
<br />,~
<br />,! b
<br />\.,..............
<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 />THIS DEED OF TRUST is dated October 29, 2007, among CURTIS R CELLAR and RICHELLE J CELLAR;
<br />Husband and Wife ("Trustor"); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave.. Grand
<br />Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five Points
<br />Bank, whose address is P.O Box 1507, Grand Island, NE 68802-1507 (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 Nine (9) Double "R" Subdivision, Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 4220 SHANNA ST, 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 Trustor, together with all interest thereon; however, in no
<br />event shall such future advances (excluding interest) exceed in the aggregate $227,000.00.
<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 (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 />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 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 />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 />
|