|
<br />e
<br />
<br /> 10
<br /> m
<br /> ~
<br />n z
<br />:r: ~ c
<br />I"'n en
<br />n ..
<br />~ :c
<br /> .
<br /> 'i
<br /> r
<br />
<br />~ ~l
<br />m U\
<br />n:x:
<br />;'Iii
<br />
<br />e
<br /> '"'" o (j)
<br /> ~ 0 m
<br /> <;::. 0-1
<br /> c:g Z
<br /> ';::1\. c::~ N rrl
<br /> -:D Z-'
<br />~~ -U -If"Tl c::> ::0
<br />1'"'1 \.. ::::0 -<0 rn
<br />~~ 0""" 0 CJ
<br />-C """z ex> )>
<br />-'Tl t I r'rl en
<br />0 :poW 0 Z
<br />r"1 -0 ,
<br />,:r.l N ~
<br />1'"'1 ::3 , ):>
<br />0 (fl CD :0
<br />(jJ N ;><; ,- C
<br /> ):00 -C ;::
<br /> ...I: - '-" ~
<br /> W (fl en
<br /> (Ii
<br /> l;
<br />
<br />N
<br />G
<br />G
<br />co
<br />G
<br />N
<br />Q:)
<br />~
<br />0')
<br />
<br />
<br />---- -j (,{'e7EtVUj
<br />
<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />North Locust Branch
<br />113-115 N Locust St
<br />PO Box 160
<br />Grand Island, NE 68802-0160
<br />
<br />. ",~ .",\ .'
<br />
<br />DEED OF TRUST
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />~
<br />~-t
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $15.085.50.
<br />
<br />THIS DEED OF TRUST is dated April 1. 2008. among ROBERT W. CUMMINGS and PATTY J. CUMMINGS FKA
<br />PATTY J. WETZEl. HUSBAND AND WIFE ("Trustor"); Equitable Bank, whose address is North Locust Branch,
<br />113-115 N Locust St, PO Box 160. Grand Island, NE 68802-0160 (referred to below sometimes as "Lender"
<br />and sometimes as "Beneficiary"); and Equitable Bank (Grand Island Region), whose address is 113-115 N
<br />Locust St; PO Box 160. 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 />County. State of Nebraska:
<br />
<br />LOT FOUR (4), BLOCK THREE (3), IN LAMBERT'S SECOND ADDITION TO THE CITY OF GRAND ISLAND,
<br />HALLCOUNTY,NEBRASKA.
<br />
<br />The Real Property or its address is commonly known as 716 N BROADWElL AVE, GRAND ISLAND, NE
<br />68801 .
<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 (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 />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, regulation, 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 against Trustor, including a claim 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 />PAYMENT 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 Note,
<br />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, 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 o(indirectly ~p~tai~,or s~ffer resulting from a
<br />
|