|
<br />e e
<br /> 10.: n ~ ~ m
<br /> m % c:::> C> (f) c::> ~
<br /> c=>
<br /> "'" m co <:) --.
<br /> c: n :I: "-." cl> N
<br />N Z ;::l'li; --~ :3 z--' :0
<br />is> n = --1m <::> m
<br />is> 3: n 0 ~~ -c -<0 C
<br />CP m ~ ~ .." 0""" <::> ):-
<br />is> n :x: 0 CD """z CO en
<br />w ~ " Z
<br /><:0 t ..... Pl c::>
<br /><:0 0 l> CP en
<br /><:0 f"Tl ::0 r ;0 -I
<br /> rn ::3 r l> W :0
<br /> a 0 (f) c::
<br /> U'l t---" <D s:
<br /> 0 t---" :;:><;: m
<br /> l> <D
<br /> en ........ '"-" ~
<br /> CD (f) c.o
<br /> Z
<br /> (f) 0
<br />
<br />/?etEhV ~ ..fey,'
<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 />5~'OD
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />MAXIMUM L1EN~ The lien of this Deed of Trust shall not exceed at anyone time $23,086.00.
<br />
<br />THIS DEED OF TRUST is dated May 2, 2008, among KENTON E SORENSEN and COLETTE S SORENSEN;
<br />
<br />HUSBAND AND WIFE ("Trustor"); Equitable Bank, whose address is North locust Branch, 113-115 N locust
<br />
<br />St, PO Box 160, Grand Island, NE 68802-0160 (referred to below sometimes as "lender" and sometimes as
<br />
<br />"Beneficiary"); and Equitable Bank (Grand Island Region), whose address is 113-115 N locust St; PO Box 160.
<br />
<br />Grand Island. NE 68802-0160 (referred to below as "Trustee").
<br />
<br />CONVEY ANCE AND GRANT. For valuable consideration. Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements. rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals. oil, gas, geothermal and similar matters, (the "Real Property") located in HAll
<br />
<br />County, State of Nebraska:
<br />
<br />THE WEST NINETEEN FEET (19') OF lOT FOUR (4), AND THE EAST THIRTY EIGHT FEET (38') OF lOT
<br />
<br />FIVE (5), IN BLOCK THREE (3), IN MORRIS SECOND ADDITION TO THE CITY OF GRAND ISLAND, HAll
<br />
<br />COUNTY, NEBRASKA.
<br />
<br />The Real Property or its addr88$ is commonly known 8S 303 E 19TH ST,. GRAND ISLAND. NE. _688012488.
<br />
<br />The Real Property tax identification number is 400063980.
<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 Documants.
<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 occurrenca of an Event of Default, Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage tha 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. raleasa 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 parson 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 axpense, 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 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 />been known to Trustor. The provisions of this saction 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 />
<br />Nuisance. Wasta. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber. minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />
<br />;t'! i
<br />
|