|
<br />- (Rd~'-'\
<br />WHEN RECohDED MAIL 10:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island, NE 68802-0160
<br />
<br /> n1
<br /> .~;>
<br /> III!~~...
<br /> 10 n ~ -.j
<br /> m % rn
<br /> "" :JU
<br /> C m CI'l rn
<br /> n :t '''''"'-.:>
<br /> Z '"".,:.:_.) 0
<br />:"'\ ;:pc; t"~::'::;) 0 C/,
<br />% ~ 0 (::.....~ C, ---"~' 0 ~
<br />$!) c= :;:,. (I)
<br />~ '-,-, Z -,I N
<br />en :::n r-,-, 2:
<br />.711; % i'T] CO --j rt'''l
<br /> 0 en
<br /> <;) -< (~) -I
<br /> C) 0 -q C) :0
<br /> -''q .-- ,'1 c:
<br /> -'.....
<br /> CO ",","
<br /> \:",:",) --j".'. t"l]: :;"..
<br /> P'l /' u ):';.J"' cr,l c:::J rn
<br /> r'"'/'1 Z
<br /> C) ~ =:3 r-- ;.:.t.J -f
<br /> (J) r- ;":'1In a :;:~
<br /> f---.>. en
<br /> 0 N ~ , CD 0
<br /> l,. --C
<br /> en '---",---"
<br /> -..J en ~
<br /> en
<br />
<br />
<br />
<br />f\.)
<br />e
<br />e
<br />Q;)
<br />e
<br />e
<br />Q;)
<br />.j:>.
<br />-->.
<br />
<br />200800841
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />~
<br />C'"
<br />\~
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $25,000.00.
<br />
<br />THIS DEED OF TRUST is dated January 15, 2008, among MICHAEL M MCDONALD and IRMA L MCDONALD;
<br />HUSBAND AND WIFE ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO Box 160, Grand
<br />Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />Equitable Bank (Grand Island Region), whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE
<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. flll of Trustor's right, title. and interest in and to the following described real property, together with flll existing or
<br />subsequently erected or affixed buildings, improvements flnd fixtures; all easements, rights of way, IInd IIpplHtenances; all wllter, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); flnd all other rights, royalties, and profits relating to the real
<br />property, including without limitation flll minerals, oil, gas, geothermal and similar mlltters, (the "Real Property") located in HALL
<br />
<br />County, State of Nebraska:
<br />
<br />LOT TWO (2), IN BLOCK TWO (2), IN BRENTWOOD SECOND SUBDIVISION TO THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
<br />
<br />The Real Property or its address is commonly known as
<br />688017262.
<br />
<br />3015 SOTHMAN DR, GRAND ISLAND, NE
<br />
<br />REVOL VING 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 (1Ilso known liS Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to flll
<br />present and future leases of the Property and 1111 Rp.nts 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 (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 />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 her.ome due, IInd shllll strictly and in a timely manner perform all of Trustor's ohligations 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 IInd control of the Property;
<br />(2) use, operate or manage the Property; IInd (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Trustor shall maintllin the Property in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />
<br />Compliance With Environmontal laws. Trustor represents and warrants to lender that: (1) During the period of TrUSlor's ownership
<br />of the Property, there has been no use, generation, manufflcture, slorflge, treatment, disposal, release or threatened release of any
<br />Ha)'ardous 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 viollllion of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened relellse 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, (II) neither Trustor nor any tenant, contmctor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or relellse any Hllzllrdous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicflble federal, state, and local laws, regulations and
<br />ordinances, including without limitfltion 1111 Environmental Lllws. Trustor lIuthorizes Lender IInd its IIgonts to enter upon the Property
<br />to make such inspections and tests, lit Trustor's expense, as lender mllY deem appropriate to determine complillnce 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 shflll not he
<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 agllinst lender for indemnity or contribution in the event Trustor hecomes liable for
<br />cleanup or other costs under any such IlIws; and (2) agrees to indemnify, defend, and hold harmless Lender agllinst any and flll
<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 Sflme WIIS 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 IInd the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />
<br />~ ~, :' ,
<br />
|