|
<br />, n t ~ I r 11 /,1 I "
<br />,.
<br />
<br /> ~
<br /> ~ 0 (/l m
<br /> i~~ ~ <.::>
<br /> ;JO c;:o 0 -t 0 ~
<br /> m :3 c ~
<br /> ~ :z: -t '"
<br /> C n~ ~~ ::;0 ....... Pl :0
<br /> Z --C 0
<br />~~ ~ <.? -< 0 m
<br />c ~~tt 0 ""Tl c::> 0
<br />en I-'" ""Tl ):-
<br />nen .. z CO en
<br />~X ~ ~ r :J: nl Z
<br /> -0 ~ co a
<br /> ::3 r ::u ~
<br /> r 1> (..,)
<br /> C,.,) (f> :0
<br /> :::0:; -.J C
<br /> l> 0 ~
<br /> I-' --
<br /> N c.n CD
<br /> en
<br /> 5
<br /> :,
<br />
<br />N
<br />G
<br />G
<br />0::>
<br />G
<br />W
<br />-...J
<br />G
<br /><.0
<br />
<br />
<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />P.O. Box 760
<br />#14 laBarre
<br />Gibbon. NE 68840
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />~
<br />
<br />DEED OF TRUST ~
<br />
<br />THIS DEED OF TRUST is dated May 1, 2008, among TRENT R HUFF and PENNI L HUFF, Husband and Wife as r) 't.
<br />
<br />Joint Tenants ("Trustor"); Exchange Bank, whose address is P.O. Box 760, #14 LaBarre, Gibbon, NE 68840 '-..
<br />
<br />(referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Exchange Bank, whose
<br />
<br />address is P.O. Box 5793, Grand Island, NE 68802 (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 relatin!;! 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), IN BLOCK THREE (3), IN BONNIE BRAE ADDITION TO THE CITY OF GRAND ISLAND, HALL
<br />
<br />COUNTY, NEBRASKA.
<br />
<br />The Real Property or its address is commonly known as 1408 W 5TH STREET, GRAND ISLAND, NE 68801.
<br />
<br />CROSS-COllATERALlZATION. In addition to the Note, this Deed of Trust secures all obligations. debts and liabilities, plus interest
<br />thereon, of Trustor to lender, or anyone or more of them, as well as all claims by lender against Trustor or anyone or more of them,
<br />whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise,
<br />whether due or not due, direct or indirect. determined or undetermined. absolute or contingent, liquidated or unliquidated, whether Trustor
<br />may be liable individually or jointly with others. whether obligated as guarantor. surety. accommodation party or otherwise, and whether
<br />recovery upon such amounts may be or hereafter may become barred by any statute of limitations. and whether the obligation to repay
<br />such amounts may be or hereafter may become otherwise unenforceable.
<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.
<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 IAI PAYMENT OF THE INDEBTEDNESS AND IBI 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 />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 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 />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 tenantable 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, lb) 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 or indirectly sustein 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 />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 and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by lender's acquisition of any interest in the Property. whether by foreclosure or otherwise.
<br />
|