|
<br />l?eff-~ .'/h'Y,"
<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br /> 10 n E
<br /> In ~
<br /> .."
<br /> c::
<br /> Z n :J: m
<br />l'\ " z
<br />X ~ 0 rr:
<br />~ ~ l"-",:o.
<br /> 0.;..::...._.') ("") U) :n
<br />~ i'"~ rn 0
<br />"l: c"'" 0 --.
<br /> --, c: ;.>- CJ
<br /> ," :,(~ -" J> rv
<br /> . ,
<br /> ~..J,~ ~\ ' r""" --I rt: (j) 0
<br /> rn .....,,7" CD --<
<br /> ~~:~~ ~~.'f. .,,~ c.:\ Z
<br /> rv 0 -n U> 0
<br /> (fl -"'l -l
<br /> "1 ~~:~ :0 CO
<br /> C:::J :"""1: ;""1 c:
<br /> III r ::n .i,J~~ :: ~:.l :?: CJ
<br /> r'l " ::3 r- ;XJ rn f---"
<br /> CJ -\ r-
<br /> \ .-" z
<br /> (fl , f---" Ul -; J::
<br /> Q 0 ^ z
<br /> \' 1> 0 0')
<br /> -C .......... ----
<br /> t-" Ul --..J
<br /> Ul
<br />
<br />
<br />N
<br />is
<br />is
<br />OJ
<br />is)
<br />--"
<br />.p..
<br />0)
<br />--...J
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />36,1.>0
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $20,000.00.
<br />
<br />THIS DEED OF TRUST is dated February 15. 2008, among RAYMOND JACK BEBERNISS and CONNIE J
<br />BEBERNISS; HUSBAND AND WIFE ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch. PO Box
<br />160, Grand Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"); and Equitable Bank (Grand Island Region). whose address is 113-115 N Locust St; PO Box 160,
<br />Grand Island, NE 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 />LOT THREE (3) AND FOUR (4). IN REUTING'S THIRD SUBDIVISION. LOCATED IN THE SOUTHWEST
<br />
<br />QUARTER (SW1/4) OF SECTIONS TWENTY-FOUR (24). IN TOWNSHIP ELEVEN (11) NORTH, RANGE TEN
<br />
<br />(10) WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as
<br />688035041 .
<br />
<br />3870 REUTING RD. GRAND ISLAND, NE
<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 (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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to lender all amounts secured by
<br />this Dp.ed 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 />rnaintenance necessary to preservp. 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 PropP.rty; (2) Trustor has no knowledge of, or reason to helieve
<br />that there has been, except as previously disclosed to and acknowledged by lp.nder 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 frorn 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 bp.
<br />construed to create any responsibility or liability on the part of lender to Trustor or to any other person. The representations and
<br />warmnties 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 />
<br />. .
<br />
|